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A downtown liberal arts college, The New School, has picked up 34-42 West 14th St, a five-story, 180k SF building, for $153M.
The seller was Samson Associates and the sale closed on Jan. 10, according to the Commercial Observer. Samson had owned the property since 1985. The building’s tenants will remain and pay rent to the school until their leases expire but those leases won’t be renewed.
The school will take over space over time and convert it to academic uses. The building has about 25k SF of ground-floor retail space and comes with additional air rights.
Meridian Capital Group’s Helen Hwang, Karen Weidenmann, Brian Szczapa, Jacob Schmuckler and Jenna Catalon repped the seller. [CO]
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