NEW YORK CITY-CBRE announced Friday that it has represented Nyack College/Alliance Theological Seminary, a Christian college, in its relocation to 2 Washington St., in Downtown Manhattan. The 20-year lease, with options that extend to 2042, is for 166,385 square feet, more than doubling the school's current space and allowing for its growing student population, according to the announcement.
CBRE SVPs Gerry Miovski and Christopher Mansfield worked with Nyack College over several years to identify the relocation site near Battery Park, from 361 Broadway. Nyack College will take occupancy on May 1, 2013, but a partial move of some graduate programs has already taken place and the full transition will continue over the coming year.
“The school has made a long-term commitment to remaining Downtown, recognizing the area's burgeoning population, 24/7 community and increasing concentration of educational institutions,” says Miovski in the announcement.
In commenting on the move in the press release, Mayor Michael Bloomberg says “Nyack College's expansion plans affirm the attractiveness of New York City's higher education institutions and the revitalization and diversification of Lower Manhattan."
Andrea Gendel, of Pryor Cashman's Real Estate Group, represented the college for this transaction. Nyack College's current commuter campus in Manhattan serves 1,400 undergraduate and graduate students with 34 classrooms and teaching labs. The new location will expand capacity to 60 classrooms and labs.
Nyack College's 125-acre residential campus is located in Nyack, NY, overlooking the Hudson River and the Tappan Zee Bridge. But the school has a storied history in Manhattan. It was founded in New York City in 1882 with just a few dozen students. It has occupied several Manhattan locations.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
