Suri Cruise will be hitting the books this fall – but not at just any old posh private school.

Previous reports claimed the six-year-old would be attending Convent of the Sacred Heart (a prestigious all-girls Catholic school that graduated both Lady Gaga and Caroline Kennedy).

But instead the daughter of Katie Holmes and Tom Cruise has been enrolled in Avenues, located in Chelsea, Manhattan.

What is Avenues? Well according to the New York Times, it’s the “best school $75 million can buy.” In fact, it’s a brand new school that will open its doors for the first time in the fall of 2012.

Avenues is a for-profit private school started by educational entrepreneur Chris Wittle.  According to Avenues website, the new school will focus on international experience. Avenues strives to be one giant, international school with 20 campuses all around the world. This will allow families to travel between big cities around the globe without having to introduce their children to a new school system every time they get settled.

As the self-proclaimed “world school,” all Avenues students will graduate bilingual having been taught in both English and Mandarin or Spanish.

The artistic renderings of the campus are quite impressive. The Avenues site contains pictures of what the new school is to look like, including its rooftop playground, seminar/ discussion classrooms, and innovative libraries and study spaces.

It looks great on paper – but don’t forget that Avenues is brand-spanking new, which means that it doesn’t have the long-standing reputations of other NYC private schools like Horace Mann or Claremont Prep.

For now, it’s all a waiting game to see whether or not Avenues will be able to live up to expectations. What do you think? Is it worth the $40k a year price tag?