CUNY’s for sale!

The City University of New York is considering selling some of its 300 buildings to generate millions of dollars of additional revenues for its academic programs, The Post has learned.

The CUNY board of trustees’ Facilities Planning and Management Committee last week unanimously approved a $750,000 contract with Real Estate Solutions Group (RESG) to conduct a first-ever sweeping review to assess the value of all the university’s 300 buildings across the five boroughs for potential revenue opportunities.

Some of its properties are prime Manhattan real estate that could fetch a fortune.

CUNY officials for years have discussed unloading John Jay College’s unused four-story building on Amsterdam Avenue at 59th Street near Lincoln Center, which was once a shoe store and the college’s administration building.

One CUNY trustee even raised the possibility of negotiating the sale of the CUNY Graduate Center –a landmarked 10-story building at 365 Fifth Avenue near the Empire State building and once the home of B. Altman Department Store.

“I suspect this will generate an enormous amount of publicity. It’s going to draw substantial scrutiny,” Brian Obergfell, who chairs the committee said of the real estate initiative during the meeting.

“You betcha,” said board member Charles Shorter, also a member of the facilities panel.

It was Shorter who asked what real expertise CUNY would tap “to help us negotiate, say, 2 Amsterdam Avenue or the Graduate Center.”

One CUNY insider said one could walk through the Graduate Center during the day and not see many students or much activity. The post-graduate and doctorate classes are held at night and much of the graduate research and other work is held at other campuses, the source said.

“You could definitely make the argument that the Graduate Center building is underutilized,” said the insider, who requested anonymity.

One CUNY official said developers would look “very eagerly” at snatching the John Jay College site.

The review also is expected to look at the possibility of selling air rights above CUNY properties.

“The University’s real estate footprint includes untapped potential for the University. RESG will assist the University in identifying, valuing, and recommending potential monetization opportunities that will produce the best value propositions to the University and provide a comprehensive understanding of potential monetization assets that may be developed in the future as real estate markets evolve,” the CUNY resolution about the contract approved by the panel said.

RESG is expected to prepare a report within six or seven months to assess the value of CUNY’s properties and lay out options for potential sale or development.

CUNY spokesman Frank Sobrino said, “The university is considering how it might make better use of some of its assets.”

But Sobrino insisted the Graduate Center is not for sale.

The CUNY push to consider selling or monetizing its assets comes as Gov. Andrew Cuomo is pressuring cash-strapped SUNY or CUNY to raise more money privately to upgrade or build new campus facilities.