St. Francis College, a private Franciscan college in Brooklyn, has sold its campus for $160 million.
According to a report in The Real Deal, the five-building campus in the Brooklyn Heights community has been the home to the college for six decades. St. Francis is relocating its operations to “The Wheeler,” Tishman Speyer’s 10-story redevelopment atop the former Macy’s building on Livingston Street in Downtown Brooklyn; the college will occupy three stories of this space.
The campus was acquired by an affiliate of Henry Elghanayan’s Rockrose Development. The property has approximately 500,000 square feet of as-of-right buildable space on the site, which is also eligible for an inclusionary housing bonus of about 100,000 square feet, which would bring down the per-square-foot-price. The buyer’s plans for the site were not announced.
Photo of St. Francis College’s former Administration Building by Ajay Suresh / Wikimedia Commons.