Metropolitan College finds buyer for 100k-sf FiDi campus

The Manhattan College of New York may be one step closer to pulling itself out of a financial fog with the pending sale of its Financial District campus. MCNY intends to sell its 100,000-square-foot 40 Rector Street campus to the City University of New York for $40 million, Bloomberg reported. The seller will use proceeds from the transaction to redeem a portion of its outstanding bonds and pay deferred debt service. The sale would break down to $400 per square foot. CUNY would use the property as an interim location for the Hunter-Bellevue School of Nursing as construction continues on […]This article originally appeared on The Real Deal. Click here to read the full story.