Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
Touro College, University System to Create New Campus at 3 Times Square in Midtown Manhattan
NEW YORK—Touro College and University System, one of the nation’s leading non-profit institutions of higher and professional education under Jewish auspices, announced plans on Jan. 3 to build a new 243,305 square-foot campus at the 3 Times Square tower owned and operated by the Rudin Family.
In announcing the plan to build its main campus in the heart of Manhattan, Touro reaffirmed its commitment to New York City and the continued importance of in-person learning, officials with the college stated. Touro will transform eight floors of the building into classrooms, science and technology labs, offices and event space and will have a dedicated entrance and lobby on the southwest corner of 43rd Street and Seventh Avenue. The more than 2,000 staff and students who will work and attend class there daily will provide a major economic boost to local businesses, revitalizing an area traditionally frequented by tourists and office workers.
Touro plans to officially move into the new space in January 2023.
“Touro College and University System have arrived at its 50th anniversary with confidence and strength under the stellar leadership of Dr. Alan Kadish,” said Zvi Ryzman, Board Chairman of Touro College & University System. “The signing of the lease at 3 Times Square for a new state-of-the-art home for several of Touro’s world class schools and programs indicates a bright and successful future for the institution.”
Seven of Touro’s schools will be housed in the location, including the College of Pharmacy (TCOP), New York School of Career & Applied Studies (NYSCAS), Graduate School of Business (GSB), Graduate School of Education (GSE), Graduate School of Jewish Studies (GSJS), Graduate School of Social Work (GSSW) and Graduate School of Technology (GST).
“Throughout the 2020 and 2021 academic years, our schools and programs adapted and thrived during the transition to online and hybrid education, and we will continue to incorporate what we’ve learned to help our school and approach to education evolve,” said Dr. Alan Kadish, President of the Touro College & University System. “After conducting comprehensive surveys and thorough conversations with faculty, staff and students, we know our community places great value on in-person learning. Touro is now celebrating its 50-year anniversary and by improving our campus experience and upgrading our facilities, Touro will be well-positioned for the next 50 years.”
3 Times Square—originally constructed as the North American headquarters for Reuters Group PLC in the early 2000s—is a class A office tower that spans 885,000 square feet across 30 stories. In 2020, Rudin engaged architectural firm FXCollaborative to assist on a sweeping capital improvement program at the tower, including the creation of a new, glass-walled triple-height lobby and a sculptural façade screen designed to diffuse the light of Times Square. The building is easily accessible to Grand Central, Port Authority and Penn Station, providing an ideal campus for commuting faculty and students.
The school will build a library, academic facilities, laboratories, student lounges and cafes, according to Mr. Jeffrey Rosengarten, Senior Vice President of Operations for the Touro College and University System who led the Touro management team in this exciting new initiative.
In addition to expanding its footprint in Midtown Manhattan, Touro has also extended its commitment to the Harlem community and has renewed the lease for its TouroCOM Harlem campus at the 230 W. 125th St. for another decade.
Touro College also operates its Tour College of Osteopathic Medicine in Middletown. The Middletown Campus opened its doors on July 21, 2014. It’s housed in the former Horton Hospital building, which underwent a $25 million renovation to become a high-tech medical school—complete with 85 dorm rooms, a state-of-the-art holographic and plastination lab, medical library and clinical training facilities.
Touro is a system of non-profit institutions of higher and professional education. Touro College was chartered in 1970 primarily to enrich the Jewish heritage, and to serve the larger American and global community. Approximately 19,000 students are currently enrolled in its various schools and divisions. Touro has 35 campuses and locations in New York, California, Nevada, Illinois, Berlin, Jerusalem and Moscow. New York Medical College; Touro University California and Touro University Nevada; Touro University Worldwide and its Touro College Los Angeles division; as well as Hebrew Theological College in Skokie, Illinois are separately accredited institutions within the Touro College and University System.
The Rudin Family owns and operates one of the largest privately held real estate portfolios in New York City. Among its real estate holdings, which includes the high-tech Dock 72 office tower at Brooklyn Navy Yard, are 16 commercial office buildings containing approximately 10.5 million square feet of space and 17 apartment buildings comprising over four million square feet of residences.