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Yeshiva University Will Establish Campus at Herald Center
Yeshiva University on Monday announced plans to significantly expand its presence in the healthcare field by establishing a new campus in the 10-story Herald Center building at Herald Square in Manhattan. This expansion will add more than 160,000 square feet to the university’s Midtown Manhattan footprint. Yeshiva is entering into a 32-year leasehold condominium for floors 5-9, as well as partial mezzanine and ground floor areas.
Herald Center was acquired in 1981 by owners Morris Bailey and Joseph L. Jerome of JEMB Realty Corporation, a multigenerational real estate development, investment, and management firm. The building, set at the corner of 34th Street and Broadway, was built in 1902 as the original Saks store.
Yeshiva was assisted in the negotiations by Savills, whose team was led by David Carlos, vice chairman of the Nonprofit Practice Group. Building ownership was represented in house by Jacob Jerome and Morris I. Bailey.
- ◦Lease
