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NEW YORK CITY-Nyack College Manhattan Center yesterday signed a 10-year lease on a 46,248-sf space at 361 Broadway here. Enrollment is rising at the Evangelical Christian school, which is currently located at 335 Broadway, just down the street from the original campus.

The accredited, four-year college will occupy the first four floors of the building as well as the basement. The new space will be used as administrative offices and classrooms. Nyack will continue to occupy its current facility. Rents per square foot are in the mid-$30s.

Bradley Gurla, Richard Levine and James Searle of Insignia/ESG represented building owner Himmel & Meringoff Properties in the transaction. Rob Frischman of JDF Realty represented Nyack.

According to Farrell Virga, president and CEO of Meringoff Properties, which manages the Himmel & Meringoff portfolio, the building was yet another casualty of the tech crunch. AdOne, a provider of on-line classified advertising, was occupying the entire space leased to Nyack until about a month ago.

“They came to us and said they had a problem,” Virga said. “They couldn’t make their nut.” AdOne hired its own broker, but Virga decided to take a proactive approach and brought in Insignia.

Nyack will move into roughly half the space immediately and expects to be fully up and running within a year.

Virga called the rent “very representative of the neighborhood,” and comparable to the figure paid for a recent 5-year re-leasing of 30,800 sf of space at 365 Broadway, another Himmel & Meringoff building. The space is leased to the City of New York and is occupied by the Dept. of Juvenile Justice.

Virga said he expects to finalize a separate deal “within a week or so” on an 85,000-sf lease at 729 Broadway.

Originally named the Missionary Training Institute when it was founded in 1882 by the Rev. A. B. Simpson, a leading figure in the American missionary movement, the school moved to Nyack in 1897 where it was rechristened Nyack College.

For 10 years, Nyack operated an extension site in Flushing, Queens in order to provide biblical education to the large Korean community there. In 1995, Nyack began an extension site in TriBeCa offering associate degree programs in order to effectively train those who minister in urban churches.

The two sites merged in 1997 when Nyack secured its current space and began offering complete degree programs. The same year, the Middle States Accrediting Commission granted branch campus status to the Nyack College Manhattan Center.

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