The New School Buys Big W. 14th St. Building

The New School, has picked up 34-42 West 14th St, a five-story, 180,000 square foot building, for $153 million.

The seller was Samson Associates and the sale closed on Jan. 10, according to the Commercial Observer. Samson had owned the property since 1985. The building’s tenants will remain and pay rent to the school until their leases expire but those leases won’t be renewed. The school will take over space over time and convert it to academic uses. The building has about 25k SF of ground-floor retail space and comes with additional air rights.

Note that price: $153 million.

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    From May through October, anticipated to begin in 2012, this seasonal café will provide park users with a casual and affordable food service in the newly restored historic Pavilion in Union Square Park, part of a long tradition of unique and diverse food services in City parks. In keeping with Union Square Park’s history as the birthplace of the City’s first Greenmarket and with the Parks Department’s initiative to provide varied and healthy food options in City parks, City Farm Café’s menu will feature seasonal produce and other food products from the Union Square Greenmarket.

    In the off-season, the Pavilion will be used for a range of educational and recreational activities open to the public from November through April. The Parks Department plans to sponsor childrens’ programs, fitness programs, and films, and the Greenmarket plans to organize public education programs to encourage healthy eating habits.

    “City Farm Café submitted an inventive proposal for a seasonal café that will take full advantage of the locally grown and produced fresh food sold at the Union Square Greenmarket,” said Commissioner Benepe.