Original article From Greenwich time
GREENWICH — Hedge fund giant Paul Tudor Jones has confirmed his company’s intention to sell its property on King Street to Brunswick School, a move that could enlarge the private school’s campus by almost half and nearly double its classroom space.
The deal is not official but an agreement in principle has been reached between the school and Tudor Investment Corporation for the 43 acres. A price has not been revealed by the school and is not expected to be announced until the sale is final.
According to Tudor spokesman Patrick Clifford the company expects to move from its offices on King Street in the spring of 2018. Neither the company nor the school has set a timetable for when they expect the deal to be completed.
Tudor Jones himself issued a statement confirming the agreement and expressing his support for Brunswick School. The property in question is located across King Street from the school’s campus, which houses its lower and middle school.
“A sale to Brunswick reflects Tudor’s high regard for the school and its academic mission and our desire to leave this special property in the hands of a thoughtful owner,” Tudor Jones said.
In an email sent to Brunswick School’s parents and alumni on Monday, school Headmaster Tom Philip said the deal had come together very unexpectedly when he received a call from Tudor Jones recently saying he was planning on moving the firm’s Connecticut offices closer to the Metro-North train line. Tudor Jones reportedly told him the school was his first call to gauge potential interest.
Clifford confirmed the firm’s relocation plan in a statement.
“This change would support easy travel from Manhattan to Connecticut and back in connection with the importance and size of Tudor’s Manhattan office and the firm’s current recruiting priorities,” Clifford said. “Tudor expects to select an office building in the Greenwich-Stamford corridor in the near future.”
In his email, Philip outlined ambitious plans for expansion of the school’s campus if the sale goes through including adding new classrooms, a performing arts center, a STEM center and more ability to offer athletics. Any expansion plans and construction would require approval from the town’s Planning and Zoning Commission and Philip said he did not anticipate having the property ready for the school until the fall of 2018 at the earliest.
“The acquisition has the potential to nearly double Brunswick’s square footage of classroom space on King Street, add as many as four new playing fields, allow for construction of a state of the art track on our existing campus and would include several units of faculty housing,” Philip said in the email.
kborsuk@greenwichtime.com