A school building at 150 West 85th Street, located on the south side of West 85th Street between Columbus and Amsterdam Avenues on Manhattan’s Upper West Side, was sold in an all-cash transaction valued at $28,000,000.
The property consists of a six-story building containing approximately 30,009 square feet on a 75’ x 102’ irregular lot. It was occupied by Mannes College The New School for Music, a highly respected music institution. The sale price equates to approximately $933 per square foot.
The property is surrounded by an abundance of elite schools and global attractions including Central Park and the American Museum of Natural History. It is easily accessible by public transportation, with the 1, B, and C subways nearby.
“150 West 85th Street drew strong competition from developers and end-users alike who had been searching for a sizable opportunity in the Upper West Side, one of the most supply constrained neighborhoods in all of New York City,” said Cushman & Wakefield’s Hall Oster, who exclusively represented the seller in this transaction with Chairman, New York Investment Sales, Bob Knakal. The buyer was represented by Timothy Sheehan of CBRE.
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Neighborhoods: Upper West Side