Touro University expands huge lease at Rudin’s 3 Times Square

Last year, Touro University signed a massive lease at Rudin Management’s 3 Times Square, consolidating several of its schools across almost 250,000 square feet at the office tower. 

It turns out that wasn’t quite enough.

Touro has agreed to take an additional 66,000 square feet across two more floors in the 30-story building, Rudin said Wednesday, bringing the university’s total footprint in the tower to nearly 310,000 square feet.

The added space, on the building’s 10th and 11th floors, is on the same 30-year term as the seven floors Touro leased last year. The developer declined to disclose the asking rent on the additional space. 

Tom Keating represented Rudin in-house alongside Cushman & Wakefield’s Ron Lo Russo and Heather Thomas. Touro’s Jeffrey Rosengarten and a Cushmean team led by Richard Bernstein represented the tenant.

Representatives for Rudin, Touro and Cushman did not immediately respond to a request for comment.

Touro students and employees have a dedicated entrance to the 885,000-square-foot building at the corner of Seventh Avenue and West 43rd Street. The school’s first students arrived on the campus in January. Touro plans to open three more floors of its now-nine-story campus by the spring and one last floor next year.

Eight of the university’s schools will be housed at the Times Square property, as well as certain programs in Touro’s health sciences school.

Last summer, Rudin and the property’s co-owner, Thomson Reuters, secured a $415 million refinancing led by JPMorgan to continue renovations to the tower, which remains mostly vacant outside of Touro’s space.

Renovations at the property include a redesigned lobby, modernized elevator and entry systems and the addition of amenities such as a fitness center, dining area and conference space. The project came about after the Bank of Montreal and FTI Consulting departed from the building, which opened as Reuters’ North American headquarters in 2001.

Near the end of last year, accounting advisory firm Anchin, Block & Anchin signed a 10-year, 45,000-square-foot lease for the tower’s 25th floor and part of its 24th.