160,000-square-foot Herald Square facility will significantly expand YU’s health science programs
New York, NY (August 18, 2024) – Yeshiva University (YU) today announced plans to significantly expand its presence in the healthcare field by establishing a new state-of-the-art campus in the 10-story Herald Center building in Manhattan’s iconic Herald Square. This expansion embodies YU’s values-driven mission to shape the future of healthcare excellence and meet the need for more competent, caring and qualified healthcare professionals in the tri-state area and across the country.
With the signing of the long-term lease, YU brings a dynamic new presence to the historic Herald Center site and adds more than 160,000 square feet of new space to the university’s already substantial footprint in Midtown Manhattan. YU is entering into a 32-year lease for condominiums on floors 5 through 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 multi-generational real estate development, investment and management company with office, retail, residential and hospitality properties in New York, New Jersey, Florida and Montreal, Quebec. Built in 1902 as the original Saks store, the building at the corner of 34th Street and Broadway is located in one of New York City’s most impressive and densely trafficked neighborhoods, with a vibrant, 24-hour offering of a mix of residential, office and retail/entertainment uses.
“Yeshiva University’s new campus is an expression of our strategic growth as a leader in healthcare education and reflects our global mission to improve lives and make a meaningful impact on 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 player in New York City’s Midtown neighborhood and its community by bringing new energy to the area through student life, educational activities and economic development.”
Yeshiva was assisted in the negotiations by Savills, whose team was led by David Carlos, Vice Chair of the Nonprofit Practice Group. The building owners were represented on site by Jacob Jerome and Morris I. Bailey.
Yeshiva University has long been recognized as a leader in education in the health sciences and has recently expanded its leadership in the field by introducing world-class graduate programs at its Katz School of Science and Health, including the nursing program launching this fall, as well as the occupational therapy and speech therapy programs.
