City University Of New York Acquires Four Office Condos From Metropolitan College Of New York For $40M

The property asset involved in this transaction is a condo located at 40 Rector Street in the Financial District of Manhattan. The sale was completed on January 27, 2026, with a transaction amount of $40,000,000. The condo spans 79,955 square feet, translating to a price per square foot of $500.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $40,000,000
• Address: 40 Rector Street
• Market: Financial District, Manhattan
• Square Footage: 79,955
• Price per Square Foot: $500
• Buyer: City University of New York
• Seller: Metropolitan College of New York

The City University of New York acquired the property through its Construction Fund, purchasing four office condos from the Metropolitan College of New York. This acquisition is intended for owner-occupancy and supports CUNY’s strategic plan to decant from 425 East 25th Street for the redevelopment of a science and research campus.