College To Sell UWS Academic Building For At Least $80M: Report

UPPER WEST SIDE, NY — A technical college is making moves to sell an academic building on some of the Upper West Side's most coveted real estate in a deal that could pave the way for the neighborhood's next big development, according to reports.

New York Institute of Technology is seeking a buyer for its academic building on the corner of Broadway and West 61st Street, the Real Deal first reported. The school is marketing the building, which is zoned for both residential and commercial uses, in the $80 million to $100 million price range, according to the report.

The building currently serves at New York Institute of Technology's satellite campus in New York City, but the school is based on Long Island. NYIT has owned the property since 1975, city finance records show.

Just blocks away from Columbus Circle and Central Park, the Broadway property could entice a real estate developer seeking to build on the Upper West Side, the Real Deal reported. NYIT's building is located on the block of newly-developed 15 West 61st and across the street from the planned 1841 Broadway, both of which contain more than 170 apartments, according to the Real Deal.

The school is moving to sell the building in order to focus on improving its Long Island campus.

Read the full Real Deal article here.