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Old Posted Mar 15, 2013, 7:53 PM
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http://www.crainsnewyork.com/article...TATE/130319903

St. John's University property hits the block
The TriBeCa building could fetch as much as $200 million in a sale that would most likely result in a 300,000-square-foot residential condominium.
Edward Minskoff is interested.


By Daniel Geiger
March 15, 2013

Quote:
St. John's University has put a downtown building it uses for student housing and academic space up for sale. The property, which is 10-stories and about 150,000 square feet, could reap between $150 million and $200 million.

"Our sense of the real estate market right now is that it's extremely strong and coming back even stronger," said Martha Hirst, St. John's chief operating officer and treasurer.

The property, at 101 Murray St., between West and Greenwich streets, a few blocks north of the World Trade Center site, can accommodate over 300,000 square feet of residential space. Those development rights have attracted several prospective buyers, including Edward Minskoff, who in recent years built a striking 35-story residential tower next door at 101 Warren St.

"We would like to get it and we hope to get it," said Mr. Minskoff, who noted that condominium prices in the area range from $1,800 per square foot to $2,400 per square foot.

101 Murray St. serves as the main Manhattan location for St. John's Peter J. Tobin College of Business, where the curriculum focuses largely on risk management issues. Ms. Hirst said that St. John's is seeking to lease a 40,000-square-foot to 60,000-square-foot Manhattan space as a new home for its business school.










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Last edited by NYguy; Mar 15, 2013 at 11:30 PM.
     
     
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