From the NY Times:
The City University of New York School of Law trains students to be public interest lawyers — the kind who battle bureaucracies and fight injustice.
The CUNY School of Law is to buy space at 2 Court Square in Long Island City, Queens.
But now, some of its teachers and students are taking aim at their own administration. At issue is the school’s plan to move from its current home, a former junior high school in Flushing, Queens, to a newer, sleeker building in Long Island City that Citigroup completed in 2007.
Last year, CUNY announced plans to buy six floors of the building, with about 260,000 square feet, for $155 million, or about $600 per square foot. That is more than the price paid for some office space in Manhattan last year, where 11 large buildings were sold. Their prices averaged $397 per square foot, said Robert Knakal of Massey Knakal Realty Services, a brokerage firm.
The law school deal, which has not yet closed, has aroused the ire of some students and faculty members. The student government passed a resolution last month demanding that the CUNY administration explain how the price was determined.
In their resolution, they demanded that CUNY explain the purchase “in a manner other than by mere comparison with the $250 million projected cost of construction of a new building.”
Ms. Weinshall, a former city transportation commissioner, declined to be interviewed. Asked for a copy of the draft appraisal, Michael Arena, a CUNY spokesman, said it would be released “upon completion of the sale.” A spokesperson for Citigroup would not answer questions about the deal with CUNY other than to say the company was “working toward an April close.”
In addition to the cost, some at the law school are worried that the deal will change the nature of the only publicly financed law school in New York City, a school known for its dedication to social justice and its rejection of corporate culture.
Sounds like another developer bailout to me.