Yeshiva University (YU) recently announced that it’s adding a new campus to its significant Manhattan presence. The private university has reportedly signed a 32-year lease for more than 160,000 square feet of Midtown Manhattan office space at the Herald Center.
The historic building that was previously home to the New York Herald newspaper rises 10 stories above the intersection of Broadway, 6th Avenue, and 34th Street and incorporates roughly 250,000 square feet of commercial space, including retail. The office lease signed by YU includes floors five through nine, in addition to partial mezzanine and ground-floor areas.
This new campus will serve to expand the university’s health sciences programs and contribute to its mission of shaping the future of healthcare excellence by forming more competent, caring, and qualified healthcare professionals.
The Herald Center building at the intersection of Broadway, 6th Avenue, and 34th Street incorporates more than 170,000 square feet of Manhattan office space. Property image courtesy of CommercialEdge.com
A Savills team led by David Carlos, vice chairman of the Nonprofit Practice Group, assisted YU in the negotiations, while the landlord — JEMB Realty Corp. — was represented in-house by Jacob Jerome and Morris I. Bailey.
“Yeshiva University’s new campus is an expression of our strategic growth as leaders in healthcare education, reflecting our global mission to improve lives and make a significant impact in the world,” said Rabbi Dr. Ari Berman, president of Yeshiva University. “As a values-driven university, we look forward to YU becoming an even greater participant in the New York Midtown neighborhood and its community by bringing new energy to the area through student life, educational activities, and economic development.”
Manhattan office space at the Herald Center places tenants at one of the busiest intersections in the country and within view of the Empire State Building. Property image courtesy of CommercialEdge.
Originally completed as a retail property in 1902 as the first Saks store in New York, the Herald Center building was converted for office as its primary use in 2015. This office lease fills the space left vacant by ASA College in 2022 and brings the property to 100% occupancy.
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Manhattan NY New York City NY Last modified: September 4, 2024
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About the Author / Ioana Ginsac
Ioana Gînsac is a creative writer covering all-things-CRE for several Yardi product publications. Topics include industry news, U.S. office and industrial market reports, as well as features on development, architecture, urbanism, proptech, design, and more. Her work has appeared in AmericanInno, Bisnow, BusinessInsider, Commercial Property Executive, Curbed, Fast Company, Forbes, GlobeSt, Inc, Patch, The Real Deal.
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