Developer Plans To Demolish Chelsea School After $19M Sale

"A partnership led by Gabriel and Robert Saffayeh and Elie Fouerti has bought the Corlears School property at 324 West 15th Street for about $19 million. The four-story, roughly 19,800-square-foot building, home to the progressive independent school since the early 1970s, is now poised for a major transition that neighbors and families will be watching closely, from permit filings to whatever ultimately replaces it."

"The sale closed for about $19 million to the Saffayeh- and Fouerti-led partnership, according to The Business Journals, which also reports that the buyers intend to demolish the existing school building after the deal. Corlears traces its West 15th Street roots back to two townhouses the school acquired in 1970, opening at the location in 1971, according to Corlears School."

"The school has announced a return to early-childhood programming beginning in the 2026-27 school year, framing the shift as a refocus on toddlers, nursery and PreK programs. Public materials do not spell out how the building sale will affect classroom space or day-to-day operations."

"Leveling the current structure would not be as simple as rolling in a wrecking ball. A full demolition would require formal filings with the New York City Department of Buildings, including a pre-demolition inspection, technical reports and no"

A four-story Corlears School building at 324 West 15th Street has served the progressive independent school since the early 1970s and is now being targeted for redevelopment. A partnership led by Gabriel and Robert Saffayeh and Elie Fouerti purchased the property for about $19 million, and reports indicate the buyers intend to demolish the existing structure after the sale. The school traces its location to two townhouses acquired in 1970 and opened at the site in 1971. The school has announced a return to early-childhood programming beginning in the 2026-27 school year, but public materials do not clarify how the sale will affect classroom space or daily operations. Demolition would require formal NYC Department of Buildings filings, including a pre-demolition inspection and technical reports.

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