By R. Renwick
Columbia University will acquire an industrial building from the Sprayregen family for a reported $33.6 million.
A decade ago, the school used eminent domain to win property from self-storage millionaire Nick Sprayregen.
“The university, which negotiated with Gerald Sprayregen—the owner of the property and father of Nick, who died in 2016— bought 3300 Broadway in Manhattanville, the Commercial Observer first reported.
“It was a friendly negotiation,” Gerald Sprayregen told the Observer,” reported Crain’s New York Business.
“The negotiation for the property, which lies between West 133rd and West 134th Streets, and will be part of the university’s $6.3 billion expansion project, strikes a different tune from the legal battle waged nearly a decade ago by Nick Sprayregen,” Crain’s added. “Nick Sprayregen spent nearly $2 million in legal fees against Columbia University to stop it from using eminent domain to purchase his property at 3261 Broadway for its 17-acre expansion plans, The New York Times reported.”
“The college picked up 3300 Broadway between West 133rd and West 134th Streets from the family of self-storage mogul Nick Sprayregen — who passed away in 2016 — in a deal that closed on Oct. 2 but was made public yesterday, according to city records,” noted commercialobserver.com. “It was a friendly negotiation,” said Gerald Sprayregen, Nick Sprayregen’s father who owns the property. “Although it took a long time, it went really smoothly.”
Nine years ago, “an appeals court ruled in favor of the University, allowing them to continue their practice of acquiring properties. The argument did not stop there; in 2013, landlords who had not yet struck a deal with the University fought once more in court. In 2017, the New York State Appeals Court heard arguments on whether the state can seize private properties in Manhattanville on Columbia’s behalf. The court has yet to reach a decision,” noted columbiaspectator.com. “3300 Broadway was sold to Columbia last Wednesday. The owner of the property prior to Columbia’s purchase is listed as Gerald Sprayregen, a family member of Nick Sprayregen.The property will now be incorporated into the Manhattanville expansion.”
The University is a private Ivy League research university in New York City. Established in 1754 near the Upper West Side region of Manhattan, Columbia is the oldest institution of higher education in New York and the fifth-oldest institution of higher learning in the United States. It is one of nine colonial colleges founded prior to the Declaration of Independence, seven of which belong to the Ivy League. It has been ranked by numerous major education publications as among the top ten universities in the world.
