City in talks to buy 75 Morton for new school

75 Morton Street

The city is in talks to acquire a 177,000-square-foot Greenwich Village building from the state and turn it into a school in an effort to combat overcrowding. Local parents have been eying 75 Morton Street ever since it hit the market two years ago for $78 million, but the city contended that the price tag was too steep and didn’t immediately go after the building, which is half-vacant and would be ready for new occupants in the fall of 2012. Now, according to the Department of Education, the city is hoping the state will be willing to budge on the asking price, given the sunken real estate market. Earlier this year, the city bought a nearby building to house Greenwich Village Middle School for $250 million. [NYDN]

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