St. John’s Seeks to Cash Out of Murray Street Space
Last month, the Related Companies’ Stephen Ross was reportedly eyeing the Borough of Manhattan Community College’s campus in Tribeca, in a land swap that would give the college space in Moynihan Station. That idea wasn’t too well received, but it looks like another college—St. John’s University—is putting a building nearby on the auction block.
This afternoon St. John’s announced that it is looking to sell its building at 101 Murray Street. The university bought the property in 2001, after St. John’s merged with the College of Insurance, now called the School of Risk Management, which remains a tenant in the building.
“The University has been continually assessing the value of this asset in terms of space usage and market value,” according to the press release. “With Manhattan’s real estate market now at an all-time historic high, we have determined that it is in the best interest of the University of seek a buyer for the property at this time.” Read More
