Studley marketing 300,000 s/f site

Real Estate Weekly, July 6, 2005

A prime development site in Tribeca with 306,000 s/f of developable density, is currently on the market through Studley.

Executive Managing Director Woody Heller, acting on behalf of the seller, New York Law School, is spearheading the marketing initiative for the site, which is located on the corner of Leonard and Church Streets in Tribeca, unequivocally one of Manhattan's hottest Downtown neighborhoods.

"Rarely has this much density been available as-of-right, with no height restriction, and no possession issues in the center of Tribeca," said Mr. Heller.

Heller said that he anticipates the site generating initial offers north of $400 per buildable foot.

New York Law School, keen to raise funds for the development of a new facility on the same block, is selling the site for that purpose.