(Image credit – “Courtesy of JEMB Realty.”)
160,000-square-foot Herald Square facility will significantly expand YU’s health science programs
Yeshiva University (YU) today announced plans to significantly expand its healthcare presence with the establishment of 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.
The Herald Center was purchased 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. The building, located at the corner of 34th Street and Broadway, built in 1902 as the original Saks store, is located in one of New York City’s most impressive and densely trafficked neighborhoods, with a vibrant, 24-hour life, a mix of residential, office and retail/entertainment uses.
“Yeshiva University’s new campus reflects our strategic growth as a leader in healthcare education and our global mission to improve lives and make a meaningful impact on the world,” said Rabbi Dr. Ari BermanPresident 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.
About Yeshiva University
As a leading Jewish university, Yeshiva University is guided by its five core Torah values: Seek Truth (Torat Emet), Live Your Values (Torat Chaim), Discover Your Potential (Torat Adam), Act with Compassion (Torat Chesed), and Bring Redemption (Torat Tzion). Founded in 1886, Yeshiva University combines the ancient traditions of Jewish law and life with the heritage of Western civilization. More than 7,400 undergraduate and graduate students study at YU’s four New York campuses: the Wilf Campus, the Israel Henry Beren Campus, the Brookdale Center, and the Jack and Pearl Resnick Campus. YU’s three undergraduate schools – Yeshiva College, Stern College for Women, and Sy Syms School of Business – offer a unique dual program of courses in Jewish studies and liberal arts. Its graduate and affiliated schools include the Albert Einstein College of Medicine, the Benjamin N. Cardozo School of Law, the Wurzweiler School of Social Work, the Ferkauf Graduate School of Psychology, the Azrieli Graduate School of Jewish Education and Administration, the Bernard Revel Graduate School of Jewish Studies, the Katz School of Science and Health, and the Rabbi Isaac Elchanan Theological Seminary. YU is one of the country’s leading academic institutions.
