May 30, 2013

St. John's agrees to sell its property at 101 Murray Street to NYC real estate firms Fisher Brothers and The Witkoff Group.

Willkie client St. John's University recently announced that it has agreed to sell its Manhattan campus property at 101 Murray Street in Tribeca to a joint venture of New York City real estate firms Fisher Brothers and The Witkoff Group. The University plans to use the proceeds from the sale to enhance academic offerings, improve facilities and augment the school's endowment, which will allow for a significant increase in ongoing financial aid for students.

The 10-story academic building currently houses the School of Risk Management within St. John's Peter J. Tobin College of Business, a small number of non-degree programs in the School of Education, language programs offered by the Global Studies division, and Library and Information Science programs in St. John's College of Liberal Arts and Sciences.

Founded by the Vincentian Fathers in 1870 as a one-building commuter school in Brooklyn, St. John's is a Catholic university with a diverse population of students who come from 48 states and 114 countries. The University offers more than 100 associate, bachelor's, master's and doctoral degrees in the arts, business, education, law, pharmacy and the natural and applied sciences.

The deal was handled by partner Thomas Henry and associates Jennifer Schanes and Kathryn Allen.

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