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Pace University is Selling their Dorms… What?

Pace University is officially selling their dorms in downtown Manhattan for $60 million to make way for condos.

If you are considering new real estate and want a unique place to live, you might just be in luck, because Pace University is selling their dorms. That is right, you could live in what used to be a college dorm. This might be appealing to you if miss your college days or want to live in an ever-growing downtown Manhattan neighborhood. Maybe you want to live here so you can be a part of history, the history that supported binge drinking via funnel. It makes sense, too, because the Financial District of Manhattan is basically just a cluster of post-grads trying to drink legally after work. It’s a complete life cycle option– college dorms, alcohol, post-grad condos, alcohol.

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Pace University announced their goal to sell their thirty-five acre dorms because it hopes to take advantage of the recent development that has been going on near Fulton Street in lower Manhattan. The university has placed its one hundred and fifty unit dormitory building on the market and rumor has it they could get they could get sixty million dollars for it. The dormitory features seven hundred and fifty thousand square feet and is located on 106 through 108 Fulton Street. It is being marketed for possible conversion into apartment buildings– condos or rentals are both options.

via Google streetview

via Google streetview

Pace University used the once office building as a dormitory starting in 1999. Officials from the school have stated that the sale will not happen for a few years but that it will help save them some money and give them the chance to expand their other campus in Pleasantville. It’s weird though, because nobody goes to Pace so they can end up in Pleasantville. Pace is only an option because it gets you in the heart of NYC without the super competitive academics of other Manhattan schools like Barnard or NYU. The university officials also feel that it will be good for the environment in that area because there will be less noise, traffic and air pollution. Read: noise pollution is the biggest issue with a bunch of 19 year olds.

Anyway, you’ll be able to keep reliving your college life endlessly with the potential high end condo units likely to fetch at least $2,500 per square foot.

Cheers.

About the author

Nicole

Nicole likes to read anything and everything when she isn't focused on writing about real estate. She loves coming up with new ways to decorate her home and is also looking forward to the next DIY project.