New York City School Construction Authority Acquires Development Site At 1651 Zerega Avenue For $8.5M

The property asset involved in this transaction is a development site located at 1651 Zerega Avenue within the Westchester Square market. The site was acquired for a total amount of $8,500,000, following its sale by the Apostles of the Sacred Heart of Jesus.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $8,500,000
• Buyer: New York City School Construction Authority
• Seller: Apostles of the Sacred Heart of Jesus
• Date of Sale: 09/04/2025

This transaction saw the NYC School Construction Authority purchasing a former convent to facilitate the construction of a new school. The deal received approval from the state attorney general, ensuring its compliance with legal standards.