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Safehold adds $285M ground lease underlying NYC office asset to portfolio

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Safehold adds $285M ground lease underlying NYC office asset to portfolio

Safehold Inc. finalized its planned $285 million ground lease beneath the 929,000-square-foot office building at 135 W. 50th St. in New York City.

The diversified real estate investment trust said significant capital improvements and renovations are underway at the property.