NYU Makes a Purchase

Looks like I’m becoming the go-to guy for all things related to NYU’s land grabbing tendencies?

Lily Q writes,

As of December 1, NYU became the proud papa of yet another 200ish million dollar building.

The university paid $210 million for the 345,000 square foot of real estate-y goodness that is the 726 Broadway building. ”I don’t know the specifics of this particular purchase but it would seem that such spending would be rightfully questioned by students and staff in times like these,” says sophomore Damon Beres of the new digs.

But NYU PR guy John Beckman points out that NYU’s been the building’s primary tenant for years– the NYU med center takes up floors three and four– and buying the half vacant structure makes sense. “One way or the other, NYU has to pay for needed space, so the question we confront is whether we pay to own the space or pay to rent the space,” he says. ”By owning it, it saves the University money over the long run, and that relieves pressure on tuition in the long run.”

Fun how none of us will be around to feel the relief.

Source: NYU Local

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2 Responses to “NYU Makes a Purchase”

  1. “None of us will be around to feel the relief”? Well we’re here now, and either way, we’re using the building. We also rent.. I believe part of the 6th and entire 7th floor (Linguistics dept). We probably wouldn’t feel the repercussions of this purchase anyway; the money would probably be allocated to another project in, i don’t know, Brooklyn?

  2. “None of us will be around to feel the relief”? Well we’re here now, and either way, we’re using the building. We also rent.. I believe part of the 6th and entire 7th floor (Linguistics dept). We probably wouldn’t feel the repercussions of this purchase anyway; the money would probably be allocated to another project in, i don’t know, Brooklyn?

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