NEW YORK CITY-A St. John's University-owned building at 101 Murray St. has been purchased by a partnership of the Fisher family and real estate investors Steven Witkoff and Howard Lorber for approximately $200 million.
The building, an academic facility of the university, will be torn down to make way for a new residential condominium tower, according to Crain's New York Business.
The site can accommodate approximately 310,000 square feet of development, but could ramp up to as high as 370,000 square feet if extra development rights from the city can be secured. Cushman & Wakefield's Helen Hwang and Nat Rockett represented St. John's University in the transaction.
"We saw the success of 56 Leonard St. and that made us feel very good," Witkoff says, referring to a condo tower being built by developer Hines nearby. "I just believe that downtown is now commonly accepted as a wonderful neighborhood to live in.” See story in Crain's New York Business.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
