The City University of New York will split the proceeds from the $62 million sale of the Grace Building at 535 East 80th Street, to buy some pricey science equipment and the 30-year condo interest it agreed to buy last year at 205 East 42nd Street.
One half of the money will buy the new high-end instruments to be used for research at the CUNY Advanced Science Research Center on the City College campus in Harlem, while the other half buys the seven floors in the former Pfizer building at 3rd Avenue and 42nd Street, said Michael Arena, a spokesperson for the university.
“We are very excited about this new location, especially because it will have very prominent storefront access,” Mr. Arena said. Read More