NYU Expands Into Downtown Brooklyn
Created: 2012-04-24 16:34 EST
New York University (nyu.edu)
by Nigel Summer
On Monday, NYU administrators and New York elected officials announced that the campus would be expanding into downtown Brooklyn.
A mostly-empty 190,000 sq. ft. office tower will become home to dozens of new business classrooms. The announcement was met with widespread approval, as the dilapidated building was generally considered an eyesore in the vibrant downtown area.
NYU paid $60 million to buy the building from the Metropolitan Transit Authority, which had been leasing the property from the city for a dollar a year.
Phase 1 of construction is scheduled to begin in the fall of 2014. The entire renovation is expected to take about four years, and should be done by the summer of 2017, just in time for a fresh batch of students. But perhaps the biggest boom for students will be the newly completed Shake Shack, just a short 3-minute walk away.