Quote:
Originally Posted by Draegen
Are you sure its not the ones with the blue gate around them?
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Positive. That's another building site. Also adjacent to that is yet another building site. See below.
The green building on the southwest corner of Trinity and Thames and the building on the northwest corner of Trinity and Thames houses two high schools. They will both be developed in time, but the NY Dep't of Ed. has leases that run through around 2022. See below:
http://www.observer.com/node/36909
SL Green Dreams Grand Central With $76 Million Madison Ave. Buy
By John Koblin
March 11, 2007 | 8:00 p.m
THE DEVELOPER JOSEPH CHETRIT HAS PURCHASED for $64 million a pair of New York University buildings that are within a stone’s throw of the World Trade Center redevelopment site.
The buildings, at 90 and 100 Trinity Place, are the former home of N.Y.U.’s Stern School of Business and the current home of two city high schools. The sale was recorded in city records.
The deal looks like a long-term investment for Mr. Chetrit. When N.Y.U. put the buildings on the block, it did so with the condition that the new owner extend and honor the lease of the two city schools, a spokeswoman for the university said.
The two schools, the High School of Economics and Finance and the High School for Leadership and Public Service, signed a 15-year lease in January, a spokeswoman for the city’s Department of Education said.
Mr. Chetrit would not comment for this story, but he’s likely banking on the potential value of an asset that will soon be among a sea of new glass buildings dotting the lower Manhattan skyline. Even if he doesn’t have leasing control until 2022, he’s taking the gamble.
The buy is also a sudden reversal for Mr. Chetrit, who has been recently selling and marketing part of his portfolio. As The Observer earlier reported, he sold the Daily News building at 450 West 33rd Street to Broadway Partners, and has assigned Eastdil’s Doug Harmon to market the Toy Building on Fifth Avenue.