SL Green, Stonehenge secure 99-year lease at Morningside Heights redevelopment site

From left: Paul Massey, Hall Oster, Rob Shapiro and 1080 Amsterdam Ave. (credit: PropertyShark)
From left: Paul Massey, Hall Oster, Rob Shapiro and 1080 Amsterdam Ave. (credit: PropertyShark)

Massey Knakal has arranged a 99-year lease at 1080 Amsterdam Avenue at 113th Street in Morningside Heights, the New York Observer reported.

This is the same building for which SL Green and Stonehenge Partners formed a joint venture this summer, with plans to turn the property into a luxury residential redevelopment project, as The Real Deal previously reported. The venture plans to shell out $13 million for renovations and redevelopment.

The terms of the lease deal were not disclosed.

Sign Up for the undefined Newsletter

The changes to the existing 82,250-square-foot, 20-story, 96-unit building, which used to house St. Luke’s Roosevelt Hospital Center employees, is slated to be completed two years after it begins.

Renovations will include common corridor upgrades, window improvements and changes to the electrical, heating and elevator systems. [NYO]Zachary Kussin