The Real Deal New York

NYU buys Noho building for $157M

151K sf property to hold gyms, classrooms
October 28, 2014 06:10PM

New York University bought a 151,000-square-foot building in Noho for $157 million, with plans to convert it into a temporary space for athletic facilities.

The property at 402-408 Lafayette Street, also known as 708 Broadway, is slated to be a short-term stand-in for the Coles Sports and Recreation Center, which is being razed, Capital New York reported. A new building with athletic facilities will then rise on the former Coles site. The property’s seller is┬áhotelier Ed Scheetz, who owns the Chelsea Hotel.

In the interim, classrooms will occupy the upper floors, while gyms will take the lower floors. A Crunch Gym outpost leased space at the building before the tenant relocated to 2 Cooper Square later this year. [Capital New York]Mark Maurer

  • Koseh Nanat

    how is NYU paying $1000/SF+ for these buildings..