New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NYU Acquires 3 Metrotech as Part of $1B Engineering School Plan
New York University has purchased 3 MetroTech Center, a 350,000-square-foot building adjacent to NYU’s Tandon School of Engineering, from JPMorgan Chase for an undisclosed sum. The acquisition will help support an ongoing $1-billion investment in Tandon to significantly advance engineering at NYU by recruiting 40 new full-time tenure track faculty, fueling new research, and growing and modernizing its Downtown Brooklyn campus.
““The ability of higher education institutions to create a skilled workforce ensures that New York City will continue to be a leader across all sectors, bringing about new industry growth and new businesses,” said Andrew Kimball, president and CEO of the New York City Economic Development Corporation.
Although planning for the specific uses for 3 MetroTech is in its earliest stages, NYU said it will build on additional plans for renovating 6 MetroTech—Rogers Hall—and lab spaces in the medical corridor in Manhattan.
- ◦Sale/Acquisition
