The Real Deal New York

City pays $32M for UES school building

The city’s School Construction Authority bought the Upper East Side school building at 213 East 63rd Street near Third Avenue from an affiliate of developer World-Wide Group for $32.2 million, or about $767 per square foot. 


While the sale was expected, the price had not been revealed. The city closed on the purchase from the World-Wide Group’s affiliate 213 East 63rd Street LLC Feb. 19, the same day as the contract, according to property records filed today. 
World-Wide, which is also the developer of luxury residential developments such as 255 East 74th Street, bought the property in 2007 for $30.7 million from the Manhattan Eye Ear and Throat Hospital, city records show. 
World-Wide bought the approximately 42,000-square-foot building in 2007 with the plan to develop the school, a spokesperson for the company said. Company president James Stanton was not available for comment. 
A spokesperson for the School Construction Authority was not immediately available for comment.

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