CBRE Group, Inc. announced today that it has represented Nyack College/Alliance Theological Seminary, in its relocation to 2 Washington Street in Lower 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, according to CBRE.
Nyack College plans to take occupancy on May 1, 2013, but a partial move of some graduate programs has already taken place.
“It is exciting to have arranged for a great institution like Nyack College to find the best location for its growing and globally diverse student body,” said Gerry Miovski senior vice president at CBRE. “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.”
Miovski and Christopher Mansfield, a senior VP at CBRE’s Consulting Group, worked with Nyack College over several years to identify the relocation site near Battery Park, from 361 Broadway. Andrea Gendel, of Pryor Cashman’s Real Estate Group, represented the college for this transaction.
“Moving to the financial hub of this gateway city to the world will help us reach our goal of becoming a world class institution of higher education,” said Dr. Michael Scales, president of Nyack College. “We are committed to providing our growing student population with the best learning environment possible, which includes access to career opportunities in the heart of New York City.
Architects Lori Kupfer and Vincent Martineau have already completed a design for the facility. 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 have 60 classrooms and labs.
Nyack College’s 125-acre residential campus is located in Nyack, NY, in Rockland County but was founded in New York in 1882. Since then it has occupied several Manhattan locations.
“New York City has more higher education students than Boston has people, and our strong network of colleges is one of the City’s greatest assets,” said Mayor Michael R. Bloomberg. “Nyack College’s expansion plans affirm the attractiveness of New York City’s higher education institutions and the revitalization and diversification of Lower Manhattan.”