St. John’s University agreed to sell its lower Manhattan campus to a group including developer Steven Witkoff and property investor Fisher Brothers, which plan to build condominiums there.
Selling the property at 101 Murray St. will give the university a “major infusion of capital,” President Donald Harrington said yesterday. Proceeds will be used for student financial aid, academic programs and facility improvements, the university said. The sale price, which the seller didn’t disclose, will exceed $200 million, said a person with knowledge of the deal.
The developers plan to tear down a 10-story building to build condos, said the source.
St. John’s will continue to occupy the building until mid-2014, according to the university.