Brearley School makes three-building buy
The Real Deal 5/26/2010
by Amy Tennery
The Brearley School has successfully purchased three buildings at 70-74 East End Avenue on the corner of 83rd Street, according to a letter sent to alumnae late last night.
A source with intimate knowledge of the deal said that Brearley, a private girl’s school for grades K through 12, plans to keep its current location at 610 East 83rd Street between the FDR Drive and East End Avenue, half a block away from its new buildings.
Stephanie Hull, head of the school, said in a statement that Brearley spent a decade looking for “a suitable location in our neighborhood” for “additional teaching space.”
The purchase, for an unidentified sum, was completed yesterday, the letter to the alumnae states.
While the school declined to say how much it paid for the buildings, previous owner East End Acquisition LLC filed a deed on the properties for a combined $52.5 million in December 2005, according to city documents.
The source said that the school has not yet decided which grades or specific curricula will be taught at the new location.
The announcement comes on the heels of Brearley’s failure to complete its original plan to purchase half of an apartment building at 85 East End Avenue. Brearley’s acquisition of that building would have resulted in the eviction of several elderly, rent-stabilized tenants, and the contract fell through for unknown reasons in March.
Tara Kelly, executive director of Friends of the Upper East Side Historic Districts, which fights for the preservation of the Upper East Side, said , “We hope that [the school] sensitively reuses these 19th century buildings.”
Hull from Brearley assured: “While there are many details to be worked out, all of our actions will reflect our commitment to move forward in a manner that respects all of our neighbors and minimizes any disruption to the surrounding community.”