The Real Deal New York

Back to School: NYU buys Greenwich Village resi building from Vornado for $45M

Property at 27 Washington Square North is seven stories tall with 27 apartments
By Eddie Small | June 22, 2018 04:08PM

Steve Roth, Andrew Hamilton, and 27 Washington Square North (Credit: YouTube)

Vornado Realty Trust has sold a 27-unit residential building in Greenwich Village to New York University for $45 million, according to property records.

The building is located at 27 Washington Square North and stands seven stories tall. Vornado purchased it from Duell Management in 2015 for $20 million.

Representatives from Vornado and NYU did not immediately respond to requests for comment.

It was not immediately clear what the university plans to do with the new building, although it is located right by the heart of NYU’s Greenwich Village campus and may be part of the university’s massive “NYU 2031” expansion plan.

The Real Deal recently ranked the largest universities and colleges throughout New York by property holdings and found that NYU was in second place behind Columbia with roughly 12.8 million square feet across 110 properties.  The school is in the middle of building a new 735,000-square-foot building at 181 Mercer Street, roughly half a mile from 27 Washington Square North.

Vornado also recently announced that it was selling its stake in Kushner Companies’ 666 Fifth Avenue building for a net profit of $120 million.