Cornell University’s SC Johnson College of Business has signed a 10-year lease for 570 Lexington Avenue.
The school will occupy 19,500 square feet of space in the building, where it is already the biggest tenant, according to Commercial Observer. It will span the entire seventh floor and bring the school’s total footprint to almost 90,000 square feet.
Cornell already has space on the ninth through 12th floors of the Feil Organization’s 50-story building. The school signed a pair of leases for about 70,000 square feet at the building earlier this year: one spanning about 39,000 square feet on the 11th and 12th floors for its industrial and labor relations school and one spanning about 31,000 square feet on the ninth and 10th floors for Weill Cornell Medical School.
Other tenants in the building include the Real Estate Board of New York and the law firm Carroll, McNulty & Kull.
Cornell’s business school is currently located at 45 West 57th Street but should move to 570 Lexington Avenue in the middle of next year.
The Real Deal ranked the colleges and universities with the most space in New York City earlier this year, and Cornell came in at No. 5 with 2.58 million square feet of space across 16 properties. [CO] – Eddie Small