Battery Park Campus Now Owned by Nyack College
April 29, 2016
Dr. Michael G. Scales, president of Nyack College/Alliance Theological Seminary, announced that Nyack’s Manhattan campus located at 2 Washington Street in Battery Park has been purchased. The previously leased property consists of 166,000 square feet on eight floors of a modern 21-floor structure.
Nyack College was established in Manhattan in 1882 by Dr. A.B. Simpson, but relocated to Nyack in 1897. After formally re-establishing a city campus in 1997, the College was committed to finding a permanent home for its growing student population. President Scales initiated the “Miracle in Manhattan” project. In 2007, CBRE, world-renowned commercial real estate firm, was hired as the exclusive broker to lead the effort of securing a property in Lower Manhattan. Gerry C. Miovski and Christopher W. Mansfield, both Senior Vice Presidents with CBRE Group, led the acquisition effort.
President Scales is grateful for the part that many have played in this process. He is thankful for the support through prayer and giving of our alumni and friends throughout the years as this process unfolded. He also wishes to acknowledge the skillful and prayerful leadership of Dr. David Jennings, Executive Vice President and Treasurer for Nyack College and Alliance Theological Seminary, for the vital role he played in this acquisition. Dr. Jennings’ diligent persistence was irreplaceable throughout this process.
In the spring of 2011, the space at 2 Washington Street was identified as the property to pursue. At the initial meeting to discuss the possibility of leasing the space the College was introduced to Jeffrey R. Gural, chairman of Newmark Grubb Knight Frank, the building’s management company and also a part owner of the property. Over the next twenty-four months, a transaction was crafted that allowed the College to relocate to 2 Washington Street with a purchase option. A key element of the transaction allowed the College to select the architect who would design the space for the owner’s contractor to build. Lori Kupfer Architect was selected.
Nyack College president, Dr. Michael Scales commented, “When CBRE partnered with us ten years ago, they immediately embraced the vision for a permanent home for our Manhattan campus. The challenges were great. In fact, the project became referred to as "The Miracle in Manhattan." Gerry, Chris, and Shawn provided the strengths and expertise of their global firm, patiently worked with our community to define our needs, and put together a genius facility and funding solution.”
Scales added, “This is a moment in Nyack’s history that we can all celebrate. I am humbled by the countless people who have served and supported the College and Seminary throughout the process of securing the purchase of our New York City campus. But as exciting as the purchase of this building is for us, even more exciting is the thought of sending out our graduates from this incredible facility for years to come.”
A formal ceremony of dedication is scheduled for Wednesday, October 12, 2016. Details will be announced.
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