iStar’s Safehold borrows $242M from New York Life for 195 Broadway fee position in Financial District

iStar’s Safehold through the entity 195 Broadway Ground Owner LLC as borrower signed a loan agreement with lender New York Life Insurance Company valued at $242.0 million for the fee position at 195 Broadway in Financial District. The deal closed on November 1, 2019 and was recorded on November 7, 2019. See the other stories today for details on the transaction.
The property contains a total of 1,052,861 square feet of built space.

The last time the property sold was November 26, 2013, when JPMorgan Asset Management bought it for $498,450,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on October 1, 2012.
Over the past five years, there have been 90 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 90 renovation/alteration projects (A2) applied for with a total estimated value of $65,304,431.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link