La Scuola d’Italia Purchases Midtown Building in Major Expansion
Steve Acunto, the chairman of La Scuola (and IAF’s Chairman), signed the purchase of 432 West 58th street for La Scuola d’Italia in a $55 million transaction on September 11th, 2015. The school currently operates at two locations. The new 14- floor, 102,00 square foot building on West 58th street in Manhattan brings the two locations into one building and also provides space for new facilities: an Italian cultural center, a preschool and adult education classes. The building is slated to house 28 classrooms, a media center, performance and art studios, an outdoor garden, specialized labs and an extraordinary cafeteria for both dining and culinary instruction. But its improved size is not the only gains for La Scuola.
“We will be expanding in several ways, from the implementation of additional internationally recognized degrees and a strong emphasis on science and math to the addition of French and other new courses of study to support our graduates’ placements in top American and European colleges such as Yale, Penn, Bocconi, NYU, St Andrew’s, Columbia and several other leading institutions here and abroad,” Mr. Acunto said.
La Scuola is also planning on accepting boarding students to the school in the future. Able to hold 700 students as compared to its previous capacity of 300, La Scuola will continue to encourage bilingual and bicultural fluency on a wider range. It is the only Italian bilingual bicultural school in North America.
Part of the decision to expand was based on location, as Carlo Mantica, the COO of the School and project leader for the transaction, explained. “We selected the neighborhood strategically for its transportation access, its proximity to major cultural and educational institutions, and its ideal location in the heart of scores of apartment complexes existing presently and those under construction including large apartment buildings within a short walking distance of the property. It is situated in a major residential growth area.”
The former buildings are on East 96th and East 67th street, and according to the New York Daily News, the building on 96th street is on the real estate market for $30 million.
La Scuola is a private Italian school founded in 1977 in New York City by the Italian Ministry of Foreign Affairs, offering education from kindergarten through 12th grade.
– Marisa Wherry
