Collegiate School selling UWS campus for $97M

Extell had previously shown interest in the site

TRD New York /
May.May 06, 2013 08:30 AM

The oldest independent school in the country is selling its Upper West Side campus for $97 million to the Reformed Protestant Dutch Church, which will look to develop the site, the New York Daily News reported.

Collegiate School – which counts American blue blood such as John F. Kennedy Jr. among its alumni – will use the proceeds from the sale to build a $118 million campus at West 62nd Street and West End Avenue, according to court records seen by the Daily News. The $97 million price tag was determined last year, when Gary Barnett’s Extell Development made an offer for the site at that price. 

The sale needs Manhattan State Supreme Court approval as it involves two nonprofit entities. The church is looking to buy both school buildings as well as the school’s interest in the long-term land lease from the church.

Collegiate has said it needs the bigger campus to help accommodate its 600-plus students. The church space it currently rents for its high school will no longer be available after 2022. [NYDN]  –Hiten Samtani

Related Articles

One Manhattan Square Extell Development CEO Gary Barnett (Credit: Curbed NY)

Extell lands $690M refinancing package for One Manhattan Square

Brooklyn Point at 138 Willoughby Street and Extell Development’s Gary Barnett (Credit: Alistair Gardiner for The Real Deal)

And you get an incentive! Extell offers to pay carrying costs at Brooklyn’s tallest tower

Raizy Haas and Gary Barnett (Credit: Getty Images, iStock)

One of Gary Barnett’s longtime deputies is leaving Extell

Gary Barnett and 1855 Broadway (Credit: Google Maps)

Gary Barnett assembling Columbus Circle development site

Extell Development chairman Gary Barnett and One Manhattan Square (Credit: Anuja Shakya, StreetEasy)

Rent now, buy later at Extell’s One Manhattan Square

José Cuervo owner Juan Beckmann Vidal and 1010 Park Avenue (Credit: Getty Images, StreetEasy)

Mexican billionaire buys Park Ave pad for $25M amid shopping spree

From left: 241 East 73rd Street, 1514-1528 First Avenue, and Extell Development's Gary Barnett (Credit: Google Maps)

Here’s what the $10M–$20M NYC investment sales market looked like last week

Neighbors sue to block Extell’s UWS tower after city OKs amended plans

Neighbors sue to block Extell’s UWS tower after city OKs amended plans