Vanderbilt University said Monday that the New York State Attorney General has granted the approval necessary to close on the lease of its new campus in New York City. The approval is a milestone in the agreement between Nashville-based Vanderbilt and the General Theological Seminary that enables Vanderbilt to operate on the historic block in Chelsea.
“We’re grateful for the attorney general’s approval and the recognition of what Vanderbilt can uniquely contribute to higher education in New York,” said Chancellor Daniel Diermeier. “A substantial presence in New York City will allow us to create new opportunities for our students, faculty and alumni in one of the most dynamic cities in the world. It will also enable us to foster deeper collaboration with the city’s unparalleled industries and cultural institutions.”
The university is exploring academic and nonacademic initiatives on the campus. The next major regulatory milestone for Vanderbilt is receiving approval from the New York Board of Regents through the New York State Education Department to provide academic programming.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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