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NEW YORK CITY-The sale of St. John’s University‘s Manhattan campus has closed, at a purchase price of $223 million. The transaction marks the largest ever residential development site sale in Lower Manhattan and it commanded a record price for the area, according to Cushman & Wakefield—which represented the school—and Real Capital Analytics.

As previously reported, the site was sold to a partnership between the Fisher Brothers and the Witkoff Group. The estimated price of the sale was approximately $200 million. A C&W New York Capital Markets team of Helen Hwang, EVP; Nat Rockett, EVP; Karen Wiedenmann, exective director, Steve Kohn, president, equity, debt and structured finance, and Michael Rotchford, EVP, represented St. John’s in the transaction.

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