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

17 West 60th Street
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This Other property located in NY received a loan of $65,675,000 over 2 years ago.

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.

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  • Location
    17 West 60th Street, Manhattan, New York, NY, USA17 West 60th Street, Manhattan, New York, NY, USA
  • Loan Value
    $65,675,000$65,675,000
  • Asset Type
    OtherOther
  • Parties
    1 Lender1 Lender

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Deal Summary

GROUND LEASE IMAGE: Gary Barnett DATE: 08/4/2021 ADDRESS: 17 West 60th Street MARKET: Lincoln Square ASSET TYPE: School ~ SF: 76,511 TENANT: The Shefa School 🧒 🏫 👧 LANDLORD: @EXTELL AMOUNT: $49,500,000 ~ TERM: 99-year

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