In late June 2006, under the leadership of Dean Richard A. Matasar, New York Law School sold its Bernard H. Mendik building at 240 Church Street. This sale enabled the school to move forward with the sale of $135 million in insured bonds, which were issued through the New York City Industrial Development Agency. The school's securities were given an A3 credit rating by Moody's and an A-minus rating by S&P, both reflective of the school's stable market position and solid financial condition. The proceeds from the building sale have been allocated to the school's endowment, which is now among the top 10 of all American law schools.