St. John’s University closed the sale of its Staten Island Campus to Wagner College, ensuring the property’s continued use for higher education and community benefit. The transaction was facilitated by Savills, which represented St. John’s throughout the process.

The project was led by the Savills team of Arthur Mirante and David Carlos, along with Savills corporate managing directors Michael Bertini and Mark Todrys.

“This was a uniquely mission-driven transaction that required a careful balance of financial, institutional, and community considerations,” said Mirante. “We were honored to represent St. John’s and help identify a buyer that shares its educational values and long-term vision for the campus. This is a distinct property, and this has been a special transaction to navigate.”

The sale allows St. John’s to further invest in its core academic programs and facilities across its main campus in Queens and remaining global sites. Wagner College plans to integrate the campus into its institutional footprint.

Development firm BFC Partners held the grand opening of The Pearl, a 100% affordable housing project located at 475 Bay St. in Stapleton, Staten Island. The 270-unit project is the first to open under the Bay Street Corridor Neighborhood Plan, intended to provide affordable housing, public open spaces, local retail and small businesses and job opportunities for residents in the community.

The development received support from key city and state programs, including NYS Homes and Community Renewal, New York City Department of Housing Preservation and Development, Extremely Low & Low-Income Affordability Program and the Voluntary Inclusionary Housing Program. Financing was provided by Wells Fargo and the Urban Investment Group at Goldman Sachs Alternatives. 

“As a native Staten Islander, I am incredibly proud to bring community-centered, urban development solutions to our borough,” said Joseph Ferrara, principal of BFC Partners. “Securing essential housing for those in need is deeply rewarding, and the opening of The Pearl marks a significant step toward inclusivity, demonstrating our commitment to accessible housing for all.”