Nat. Sports Museum earmarks 4 downtown buildings.

The National Sports Museum has narrowed the search for it's home to four downtown locations, said Philip Schwalb, CEO and founder of the proposed $48 million project.

After looking at 20 properties in the downtown area between ground zero and the Statue of Liberty, 40 Wall Street, 26 Broadway and two undisclosed buildings are still under consideration for the 70,000 to 75,000 SF museum that will feature 15 sports. The final decision will be made in five weeks to sign a 30-year lease. CB Richard Ellis is assisting the company in its search. A price range per SF has not yet been disclosed, because negotiations are currently being conducted.

"We need a large lobby and two floors," said Schwalb, who was the guest speaker at a National Realty Club luncheon last week. "It's not just price. It's location in terms of visitors and tourist foot traffic. It's going to be nationally visible. It needs to have the right appearance."

The museum, to be completed by September of 2005, is expected to draw between 800,000 and 1.5 million visitors per year. It will feature everything from basketball to NASCAR with memorabilia, interactive displays, 360-degree screen theater and gift shops that will sell sport merchandise from professional sports organizations, museum gifts and gifts from the other sports museums around the country.

"The goal was to build a museum to celebrate all sports for the first time," Schwalb said. "It will help New York City tourism and the other museums and halls of fame. There will be a place in the museum to create awareness of all of them."

The NSM anticipates it will participate in the redevelopment of both downtown and uptown Manhattan, Schwalb said.

More than $2 million in private donations have already been raised. Schwalb also said the project has applied for the Liberty Bonds program.

Schwalb has more than 15 years of management experience, primarily in the sports and location-based entertainment industries. He has raised finance for entertainment ventures, including a cultural and arts center and a professional sports franchise, as well as several motion pictures and plays.