Christian liberal-arts college takes LoMa digs

New York /
Apr.April 05, 2013 10:00 AM

Nyack College has found a new home in Lower Manhattan, ending a nearly six-year search, the Wall Street Journal reported.

The Christian liberal-arts college will take eight floors covering 166,385 square feet at 2 Washington Street, a 22-story building near Battery Park. Nyack — whose main campus is in Rockland County — will pay roughly $32.50 per square foot for the space in a 20-year deal, which will see it more than double its New York presence. The college will relocate from two locations: a floor at 93 Worth Street and the entire building at 361 Broadway. 

“We wanted to have a real university campus that we could design,” Nyack President Michael Scales, told the Journal, and added that the “criteria was a long-term lease and option to purchase.” The college has been searching for a permanent Manhattan home since 2007.

Nyack was represented by CBRE Group’s Gerry Miovski on the deal, who told the Journal the location was ideal for the college due to the “resurgence of Downtown and in particular, because of its proximity to transportation and Battery Park.”

The Nyack deal comes at a time when more schools and colleges are moving into New York office buildings. The education sector’s Manhattan footprint increased 47% between 2005 and 2012, with leasing activity concentrated in Midtown South and Downtown, according to a January report from CBRE. [WSJ]Hiten Samtani


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
James Dinan and Elizabeth Miller and the property (Josh Quick, J. Quick Studios, Getty)
Billionaire hedge funder James Dinan pays $49M for Palm Beach spec mansion
Billionaire hedge funder James Dinan pays $49M for Palm Beach spec mansion
Robert Rahmanian, Louis Adler, Lyndsey Casagrande, Kenny Fung and Robert Reffkin (Getty)
Real New York sues Compass agents for breach of contract
Real New York sues Compass agents for breach of contract
NYC landlords could find a lifeline in carbon trading
NYC landlords could find a lifeline in carbon trading
NYC landlords could find a lifeline in carbon trading
Jeff Winick (Getty)
Jeff Winick sued by IRS for not paying taxes
Jeff Winick sued by IRS for not paying taxes
Project Renewal CEO Eric Rosenbaum, Attorney Adam Leitman Bailey and 27 West 11th Street. (Google Maps, Facebook via Project Renewal, Bailey)
Greenwich Village site eyed for shelter has asbestos issues: lawsuit
Greenwich Village site eyed for shelter has asbestos issues: lawsuit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...