Savitt signs education tenants to 75K sf at 218 West 40th

Touro College, Long Island Business Institute inked leases
February 06, 2018 08:31AM

A pair of educational tenants are moving to a Savitt Partners building in Midtown.

Touro College has signed a 49,000-square-foot lease for classroom space on four floors of the building at 218 West 40th Street, while Long Island Business Institute has signed one for 25,000 square feet on two floors, according to the New York Post. The company’s boutique office building is now completely full.

Average asking rent at the building is $55 per square foot, although the specific terms for Touro College and Long Island Business Institute were not disclosed.

Other Savitt Partners properties include 530 Seventh Avenue, 499 Seventh Avenue and 11 West 19th Street.

Touro College recently scooped up a condo unit at Silverstein Properties and the Elad Group’s One West End for about $70 million and will use the space as dormitories. [NYP] – Eddie Small