Fordham University bought a new property close to Lincoln Center for $49.6 million.
The University closed on a deal to buy a portion of 43 West 61st Street from the College Entrance Examination Board.
Fordham announced it was purchasing the condominium trust in January. The deal closed on July 22.
The building’s 90,000 square foot of commercial space spread across nine floors will likely be used for offices and classrooms. The new location will be “much more convenient to the Lincoln Center campus, in addition to offering the University significant cost savings,” Brian Byrne, the campus’ vice president, told the New York Observer. [NYO] – Claire Moses