Sheehan, Midgley and Kaplan of CBRE rep buyer in $21 million sale; Wolf and Powers of Denham Wolf rep seller, 1625 West LLC

CBRE Group, Inc. has represented Marymount School of New York in the $21 million purchase of the 15,137 s/f lot at 115 East 97th St., in the Carnegie Hill neighborhood. This is a strategic move on the part of Marymount to prepare to build its future school. In the near term, the school will transform the open space into playing fields for its 677 students. CBRE's Timothy Sheehan, senior vice president; Edward Midgley, senior vice president, and Daniel Kaplan, associate, represented Marymount. "The new facilities that Marymount envisioned required a large site near its Fifth Ave. campus," said Sheehan. "That is a rare and diminishing commodity. By enabling Marymount to realize its vision, this acquisition will enrich the lives of future generations of students and enhance the school's already important contribution to the vitality of this vibrant neighborhood." Paul Wolf and Stephen Powers, of Denham Wolf Real Estate Services Inc., a real estate consulting, brokerage, and development firm specializing in real estate services for non-profit organizations, represented the seller, 1625 West LLC. "The seller is deeply invested in the Carnegie Hill neighborhood, so it was crucial to find the right buyer at the right price that would develop the land to be an asset for the surrounding neighborhood," said Wolf. "Marymount is already a good neighbor in its leased facility directly across the street, and this rare chance to build more than 110,000 s/f will enable Marymount to construct a world-class athletic, performance and academic facility." Marymount School of New York is an independent Catholic day school for Nursery-Class XII, founded to educate girls in a tradition of academic excellence and moral values. The school affirms the value of educating students to challenge, shape and change the world. Headmistress Concepcion Alvar said: "Marymount School of New York is boldly re-imagining the teaching and learning paradigm to cultivate a student-centered experiential model. We are challenging students to become makers, doers, innovators, designers, engineers, scientists, and entrepreneurs."