July 22, 2013
St. John’s University, represented by the real-estate firm
Cushman & Wakefield, has completed the sale of its property at
101 Murray Street in Tribeca for $223 million, one of the largest
real estate transactions in Lower Manhattan to date. The
University will continue to occupy the facility until mid-2014,
with plans to identity another centrally located space in time for
the 2014-15 academic year.
“The University takes great pride in our presence in Manhattan, and
the overwhelming success of this transaction allows us to ensure
the strength of that presence for generations of St. John’s
students to come,” said Martha K. Hirst, Executive Vice President,
Chief Operating Officer and Treasurer, St. John’s University.
“We have begun the search for a new campus location, in a vibrant
and convenient environment, and are confident that we will identify
a site that will enhance the New York City experience for our
students and faculty.”
Proceeds from the sale will be used to augment the University’s
endowment, which will allow St. John’s to enhance its academic
offerings, improve facilities and increase financial aid for St.