The Shefa School Acquires Ground Lease In Lincoln Square For $49.5M

A ground lease transaction recently took place in Lincoln Square, New York. The property involved is located at 17 West 60th Street and is classified as a school. It spans approximately 76,511 square feet. The deal was between the tenant, The Shefa School, and the landlord, Extell. The ground lease amount for the property was $49,500,000, and the lease term is set for 99 years.

Summary of transaction details

• Property Type: School
• Transaction Amount: $49,500,000
• Address: 17 West 60th Street
• Market: Lincoln Square
• Tenant: The Shefa School
• Landlord: Extell
• Lease Term: 99 years
• Square Footage: 76,511

The Shefa School, a prominent educational institution, signed the ground lease agreement with Extell. This transaction was overseen by Gary Barnett, who represented Extell in the deal as their broker representative.