209
NEW YORK CITY — The Cooper Union for the Advancement of Science and Art has entered into a 99-year, $96.67 million ground lease for 51 Astor Place in Manhattan, New York City. Edward J. Minskoff Equities, the owner, plans to raze the existing building at 51 Astor Place and construct a 410,000-square-foot, mixed-use development. The new development is slated for occupancy in 2010. Studley represented Cooper Union in the transaction.