Based at 170 E. 70th St., the school plans to complete itsexpansion in two phases, according to a release. In phase one,which is scheduled for completion this fall, NYSID will occupy theentire third floor at 401 PAS. Phase two will follow in time forthe fall 2011 academic semester, the release states.

"The space fits many of NYSID's requirements: an abundance ofnatural light from the oversized windows; direct subway access toNYSID's Upper East Side campus; and a separate entrance on East28th Street that provides NYSID with terrific brandingopportunities," says Neil Lipinski, principal/senior managingdirector at Cassidy Turley, in the release.

He adds that the school is aiming for LEED certification for thespace. "The landlord, Meringoff Properties, is familiar with thespecial requirements of schools of higher education, fully embracesthe use, and is enthusiastic" about NYSID being its firstLEED-certified tenant at the 13-story, 221,116-square-foot officeproperty, which is now 100% leased.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.