Olshan Co-Counsel to Ground Lessor on Sale of 673 First Avenue Leasehold by SL Green

The Real Deal, The New York Law Journal’s Marketplace and GlobeSt.com covered the $145 million sale by SL Green to New York University Hospitals Center of its leasehold interest in the office building at 673 First Avenue in Manhattan. The 422,000-square-foot, 12-story office building stands is adjacent to NYU Langone Medical Center's main campus. NYU Hospitals, together with New York Presbyterian Hospital and NYU School of Medicine, occupies 80 percent of the building. Olshan attorneys Mark Sugarman and Thomas Kearns were co-counsel to the ground lessor, 673 First Avenue Associates, in certain amendments to the ground lease and NYU's leasehold condominium proposal to permit it to obtain a real property tax exemption.