HILCO REAL ESTATE ANNOUNCES THE BANKRUPTCY SALE OF FORMER PUBLIC SCHOOL 64 IN MANHATTAN'S EAST VILLAGE

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Sep 20, 2023, 08:55 ET

NORTHRBOOK, Ill., Sept. 20, 2023 /PRNewswire/ -- Hilco Real Estate, LLC announces October 18, 2023, as the qualifying bid deadline for the bankruptcy sale of the historic former Public School 64 in Manhattan's East Village.

HILCO REAL ESTATE ANNOUNCES THE BANKRUPTCY SALE OF FORMER PUBLIC SCHOOL 64 IN MANHATTAN’S EAST VILLAGE

Designed in the French Renaissance Revival style by architect C.B.J . Snyder and completed in 1906, this six-story building has a rich history serving the East Village area as NYC Public Elementary School 64 from 1907 to 1977. Shortly after the school's closing, it transformed into a community center, hosting art and cultural programs, with notable figures like Spike Lee using the space to premiere his films while an NYU student. New York City recognized its impact by designating it an individual landmark in 2006. With an interior that is now down to the studs, the building presents an opportunity for the approved construction of 535 beds for student/college dormitory or alternatively offers a developer or investor the potential to help mitigate the current homeless and migrant crisis by using the building for that purpose.

Located in the vibrant section of Manhattan's East Village, this site boasts an exceptional location. Greenwich Village, Noho, Soho and Chinatown are all within walking distance while the allure of Brooklyn is just a convenient journey over the nearby Williamsburg Bridge. The site is immediately east of Tompkins Square Park, which itself is a lively hub. The park is known for hosting a weekly farmers market, captivating music and art festivals and summer film nights. It also offers recreational facilities like basketball and handball courts, along with inviting open grass areas for relaxation.

Public transportation is available at the property's doorstep, linking it to every corner of Manhattan. While essential amenities, including a police station, public library, grocery store and a range of dining and nightlife venues, are all within a two-mile radius. For those seeking an active lifestyle, the East River Park awaits a mere three blocks away, spanning an impressive 57 acres along the East River. With its 12 tennis courts, basketball courts, baseball and soccer fields, running track and cycling paths, the park promises a haven of recreation and leisure.

Terry Rochford, senior vice president of business development at Hilco Real Estate, stated, "With the ever-growing demand for student housing and its unparalleled location to esteemed Colleges and Universities, this offering presents a natural fit for conversion. Notably, several area schools have expressed their commitment to lease the entire building."

"Investors and visionaries alike are invited to seize this transformative opportunity." Jamie Coté, vice president at Hilco Real Estate, added. "This isn't just about real estate; repurposing this site means contributing to the narrative of the East Village community and its cultural vitality while simultaneously addressing the pressing need for comfortable and convenient accommodations in the heart of NYC."

The sale is being conducted by Order of the U.S. Bankruptcy Court Southern District of New York (Manhattan) Bankruptcy Petition No. 23-10423-dsj, In re: 9th & 10th Street LLC. Bids must be received on or before the deadline of October 18, 2023, at 5:00 p.m. (ET) and must be submitted on the Purchase and Sale Agreement available for review and download from Hilco Real Estate's website.

Interested buyers should review the bid procedures for requirements to participate in the bankruptcy sale process available on Hilco Real Estate's website. For further information, please contact Jamie Coté at (847) 418-2187 or [email protected] and Jonathan Cuticelli at (203) 561-8737 or [email protected].

For further information on the property, sale process and terms or to obtain access to due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.

About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.

SOURCE Hilco Real Estate