Developers can apply to buy all three school buildings or just one of them, officials said.
The formal 'Request For Expressions of Interest' lauded the coveted sites as being "located within neighborhoods exhibiting exceptionally strong residential market fundamentals" and added that, the sites "are among the few remaining chances to build large projects" on the Upper West Side and East Side of Manhattan.
Students would be relocated during construction, and the developer would have to build a new school in the base of the new towers.
"Kicking students out of their home school is not a gentle process. There will be an immediate negative impact on learning," said Laurie Frey of the District 3 Community Education Council.
Manhattan Borough President Scott Stringer said in a letter that he has heard from many parents from all three schools concerned about whether "their school will be demolished," and "where the Department of Education will send the children, teachers and staff whose buildings it has torn down."
At a recent meeting, the director of the Educational Construction Fund, reassured parents that sale of the schools would be subject to review by the City Council.
If the city decides to move forward with this plan, demolition and construction could start as soon as 2015.
The schools would be relocated, and the Request for Expressions of Interest says that developers should consider relocation sites in their proposals.
Developers are allowed to submit plans for one site or all three, and new schools would be built within the towers. Presently, twelve developers have expressed interest in purchasing the sites.