New York University already sports one of the largest footprints in the city by a college of university. It’s about to get even bigger.
NYU purchased the property at 1 West 4th Street in NoHo for $75.5 million, the Commercial Observer reported. The school announced the acquisition last week, but didn’t disclose details of the transaction.
The seller is Hebrew Union College, which purchased the property from NYU back in 1978. HUC is planning to relocate to an undisclosed location in Manhattan, which is being renovated, by 2027. Until then, the college will continue to utilize the building on West 4th Street.
HUC cited the school’s shifting needs as rationale for moving to a new space.
“At Hebrew Union College, our academic and institutional needs have changed from what they were almost fifty years ago when we decided to build at our current location,” HUC president Andrew Rehfeld said in a statement.
Once NYU takes possession of the property, it plans to use the building for classrooms and possibly a center for education programming.
JLL’s David Carlos brokered the deal.
In August, NYU purchased a 12-story student housing development at 35 Cooper Square from Bhatia Development and Sherwood Equities for $69.2 million.
In 2023, the school purchased a 120,000-square-foot office building at 400 Lafayette Street from Sand Associates for $97.5 million. Other notable deals include paying $134 million in 2010 for the 733-bed Founders Hall dormitory at 120 East 12th Street and 2022’s $122 million purchase of an office building at Downtown Brooklyn’s MetroTech Center.
An analysis by The Real Deal in October 2022 found that NYU has the largest real estate footprint of any college or university in the city, sporting more than 14 million square feet across more than 100 buildings.
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