6 days ago
NYC School That Inspired ‘Gossip Girl' Borrows Record Sum for Athletics Facility
An all-girls private school on Manhattan's Upper East Side is planning to borrow a record sum of money to build a state-of-the-art athletics facility, the latest example of the high-stakes competition unfolding among elite institutions that cater to wealthy families.
The Nightingale-Bamford School, which inspired the bestselling books and TV show Gossip Girl, plans to sell $40 million in so-called revenue bonds next week, and use the money to buy land and construct a 64,000-square-foot center along East 108th Street, its offering document showed. The facility, which is expected to cost over $90 million, is part of the 105-year-old school's first strategic plan solely focused on athletics. It will include an indoor turf field, a dance studio and multiple gymnasiums.
