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Safehold Inc. Underway on Construction of 670,000 SF Office Building in Manhattan

425-park-ave-ny

The building at 425 Park Avenue will include office and retail space.

NEW YORK CITY— Developer Safehold Inc. is underway on construction of a 42-story, 670,000-squre-foot office building in the Park Avenue corridor of Manhattan. Located at 425 Park Avenue in Manhattan, the Class A building will include office space and 18,000 square feet of retail space, the majority of which will be leased to restaurant users. Safehold entered into a joint venture with a sovereign wealth fund in September and now owns approximately 55 percent of the venture.

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