College Board sells to Fordham University: Cassidy Turley.
Cassidy Turley represented the College Board in selling its nine-story, 65,303 s/f headquarters at 45 Columbus Avenue to Fordham University for $49.5 million.
The College Board will relocate its headquarters to a 165,000 s/f space at Brookfield Place at 250 Vesey Street.
"The College Board chose Fordham University over several residential developers because both parties shared the same visions and goals for the space," said David Lebenstein, senior managing director and principal of Cassidy Turley, who worked the deal with colleague Graham Stephens.
"The transaction provided Fordham with the rare opportunity to consolidate three locations into one central office in close proximity to its Lincoln Center campus, further expanding its footprint in the Upper West Side. In short, it was a win-win for both institutions."
The property occupies the lower floors of the Sofia, a 27-story, 94-unit luxury residential condominium.
Joe Morningstar at Hudson Realty Capital, represented Fordham University. Also involved in the transaction were Kirk Diamond and Tim Farley of Cassidy Turley's Atlanta office, both of whom have represented the College Board in several national transactions over a period of 15 years.
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|Title Annotation:||SELLING POINTS|
|Comment:||College Board sells to Fordham University: Cassidy Turley.(SELLING POINTS)|
|Publication:||Real Estate Weekly|
|Date:||Aug 13, 2014|
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