New York Daily News
May 3, 2013
By Barbara Ross
Collegiate School, the oldest independent school in the U.S. and one of the most prestigious in the city, is selling its upper West Side campus for $97 million to build a bigger facility 16 blocks south.
In papers filed in Manhattan State Supreme Court, the school is asking the court for permission to proceed with the deal, which is required because the entities involved are nonprofits.
Collegiate, which has more than 600 male students in grades K-12, has said it needs more space because its facilities are crowded, and the church space it rents for its high school will no longer be available after 2022.
The Reformed Protestant Dutch Church is buying the two buildings the school owns, along with the school’s interest in a long-term land lease from the church, with an eye to developing the site.
The price of $97 million was set in 2012 when the Extell Corporation offered that much to buy the campus. The new facility at W. 62nd St. and West End Ave. will cost about $118 million, according to court records.
Collegiate was founded in 1628 when it was established by the Dutch West India Company and the parent body of the Dutch Reformed Church to educate colonists in New Amsterdam. At its current location for 120 years, its students have included John F. Kennedy Jr., Edgar Bronfman Jr. and William Kristol.