Ilya Marritz covers business for WNYC.
Parsons, the fashion and design college, will leave its longtime home in the Garment District next year.
A spokesperson said the school - made famous by the TV show "Project Runway" - will be folded into The New School's new academic hub, which is now under construction at Fifth Avenue and 14th Street, according to a spokesperson.
Meanwhile, Parsons is exploring leasing or selling the David M. Schwartz Fashion Education Building at Seventh Avenue and 40th Street, which has been home to Parsons' fashion programs since 1979. Parsons' main campus is at Fifth Avenue and 13th Street.
It's a major change for the Garment district, where fashion-related businesses have been disappearing for decades.