Witkoff, Lorber and Fisher pay $200M for St. John’s campus

Developers will replace the Tribeca building with condos

New York /
May.May 24, 2013 03:30 PM

St. John’s University today announced an agreement to sell its satellite Tribeca building at 101 Murray Street to a joint venture of Fisher Brothers, Howard Lorber and Witkoff Group, which plan to raze the building to construct condominiums, Crain’s reported.

Fisher, Lorber and Witkoff paid more than $200 million for the 10-story, 145,525-square-foot property, a source familiar with the deal told The Real Deal.

The school plans to use the proceeds from the sale to bulk up its endowment, academic offerings and facilities.

“We are very excited to be joining with the Fisher Brothers as a partner and co-developer of this exceptional property, and we laud St. John’s for its vision,” developer Steve Witkoff said in a St. John’s release sent to The Real Deal. “Lower Manhattan is experiencing dynamic commercial and residential growth, and this site sits atop the front edge of that wave.”

St. John’s will occupy the space until mid-2014 under the terms of the deal, and plans to announce another Manhattan space before the 2014-2015 academic year.

The 101 Murray Street location houses the School of Risk Management, the Library and Information Science program and several non-degree programs. [Crain’s]Zachary Kussin


Related Articles

arrow_forward_ios
Morgan Stanley inks massive lease at Fisher Brothers’ Park Avenue Plaza
Morgan Stanley inks massive lease at Fisher Brothers’ Park Avenue Plaza
Morgan Stanley inks massive lease at Fisher Brothers’ Park Avenue Plaza
Here are the top five largest project plans in NYC in 2021
These were the five largest development plans filed in NYC in 2021
These were the five largest development plans filed in NYC in 2021
The Real Deal’s Erin Hudson with Property Markets Group’s Kevin Maloney, Crescent Heights’ Russell Galbut, Kushner Companies’ Nikki Kushner Meyer and Witkoff Group’s Steve Witkoff
WATCH: National developers talk location scouting at TRD event
WATCH: National developers talk location scouting at TRD event
55 East 52nd Street and Kenneth Fisher (Court Square, Fisher Brothers)
What the financial titans pay at Fisher Brothers’ Park Avenue Plaza
What the financial titans pay at Fisher Brothers’ Park Avenue Plaza
The Real Deal's Erin Hudson with Property Markets Group's Kevin Maloney, Crescent Heights' Russell Galbut, Kushner Companies' Nikki Kushner Meyer and Witkoff Group's Steve Witkoff
Witkoff, Kushner, PMG, Crescent Heights talk strategy at TRD’s Miami event
Witkoff, Kushner, PMG, Crescent Heights talk strategy at TRD’s Miami event
Equitable CEO Mark Pearson and Fisher Brothers’ CEO Ken Fisher with 1345 Avenue of the Americas (Google Maps)
Equitable Life Insurance inks 130K sf lease for new office
Equitable Life Insurance inks 130K sf lease for new office
Fisher Brothers partner Kenneth Fisher and 605 Third Avenue (Photos via Getty, Fisher Brothers/Illustration by Kevin Rebong for The Real Deal)
What tenants pay Fisher Brothers & JPMorgan at 605 Third Avenue
What tenants pay Fisher Brothers & JPMorgan at 605 Third Avenue
The Woolworth Building at 233 Broadway (Getty)
What office tenants pay at Witkoff & Cammeby’s Woolworth Building
What office tenants pay at Witkoff & Cammeby’s Woolworth Building
arrow_forward_ios

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

Loading...