The Real Deal New York

Trading spaces: Touro turns office space into new dorm

College is taking 67K sf at Silverstein and Elad's One West End
January 09, 2018 09:05AM

One West End

Touro College has scooped up a condo unit at Silverstein Properties and the Elad Group’s One West End.

The estimated price of the 67,000-square-foot unit is just below $70 million, the New York Post reported. The unit, which is located in the low-rise portion of the mixed-use tower at 625 West 59th Street, will serve as a dormitory for Touro’s Lander College for Women students.

Cushman & Wakefield’s Mark Weiss represented the developers. Richard Bernstein, also of Cushman, represented Touro. Weiss called the deal “an innovative re-invention of the space,” since the unit had originally been intended for office use.

The 42-story Upper West Side tower features 246 luxury condos, 116 affordable rental units and retail space. More than 75 percent of the residential units have been sold, according to Silverstein.

In December, supermarket chain Morton Williams inked a lease for 29,400 square feet of space on the project’s ground floor and lower level. [NYP] — Kathryn Brenzel