Additional Commitment to Bring Touro’s Total Presence in Times Square Tower to Nearly 310,000 Square Feet When Fully Complete in 2024
Rudin, a full-service real estate organization, and one of New York City’s largest private owners, operators and developers of best-in-class real estate, announced today that Touro University has committed to an additional two full floors at the new academic campus it is in the process of developing at 3 Times Square.
One of the nation’s leading non-profit institutions of higher and professional education under Jewish auspices, Touro originally leased seven full floors and portions of the ground and second floors in order to create a modern and more spacious educational environment in the heart of Times Square. Touro is now adding 66,438 square feet on the 10th and 11th floors to the new campus, bringing its total commitment as part of its 30-year lease to 309,743 square feet.
In January, Touro welcomed its first students to 3 Times Square, which incorporates a dedicated entrance and lobby on the southwest corner of 43rd Street and Seventh Avenue. Touro expects to open three additional floors this spring with the final floor of its new campus delivering spring 2024.
Originally constructed and opened in 2001 as the North American headquarters of Reuters Group PLC., 3 Times Square is in the final stages of a sweeping capital improvement program led by FXCollaborative that commenced in 2020.
“Touro University’s bold decision to recreate its campus embodies the spirit of constant reinvention and rebirth that has allowed New York City and neighborhoods like Times Square to thrive,” said Michael Rudin, Executive Vice President of Rudin. “We are proud to partner with them on this exciting new chapter in the history of both Touro and 3 Times Square.”
“Our new central campus with state-of-the-art facilities will offer students and faculty more opportunities to collaborate on interdisciplinary teaching and research. It will give our undergraduates exposure to graduate programs that could open up new professional paths. And it is easy to get to from anywhere in New York City. Most of our students live in the five boroughs and this is a convenient commute and an exciting, modern and welcoming space in which to learn and pursue careers,” said Dr. Alan Kadish, Touro President.
Eight of Touro’s schools will be housed at this campus, 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) in addition to several programs from the School of Health Sciences (SHS), including Physician Assistant, Occupational Therapy, Physical Therapy and the Doctoral Psychology Program.
“Touro University’s exciting approach to expanding their campus in the heart of Times Square should be a blueprint for institutes of higher education across New York City looking to deepen ties between academia and industry,” said Melissa Román Burch, Executive Vice President and Chief Operating Officer of the New York City Economic Development Corporation (NYCEDC). “Touro’s new classroom and academic spaces will educate and train the next generation of New Yorkers from across the five boroughs, and will deliver a win-win for our city as we recover, rebuild, and reimagine our commercial neighborhoods post-pandemic.”
Tom Keating of Rudin Management Company, along with a Cushman & Wakefield team led by Ron Lo Russo and Heather Thomas, represented building ownership in the transaction. Touro was represented by its own Jeffrey Rosengarten, Senior Vice President of Operations, along with a Cushman & Wakefield team led by Richard Bernstein.
Highlights of Rudin’s ongoing redevelopment of 3 Times Square include the creation of a new, glass-walled triple-height lobby and a sculptural façade screen that will serve as a decorative architectural enhancement. The tower’s office tenants will further benefit from a streamlined, touchless entry system, fully renovated destination dispatch elevator system and a dedicated 16th floor amenity space featuring a dining area, coffee bar, and a conference and event center. Rudin is also creating a fitness center with locker rooms within the tower.
The building has achieved WiredScore Platinum certification in recognition of its best-in-class connectivity and was awarded SmartScore Gold certification for its exceptional user experience and high standards of sustainability. 3 Times Square has also achieved the WELL Health-Safety Rating, among other initiatives, in place to prioritize the health and wellness of building occupants.
3 Times Square also utilizes Nantum OS, the world’s most advanced building operating system. Nantum OS is the flagship product of Prescriptive Data, a privately held smart building automation company focused on using artificial intelligence to improve efficiency, decrease carbon emissions and optimize tenant comfort.
Rudin is a full-service real estate organization, and one of New York City’s largest private owners, operators and developers of best-in-class real estate. Among its real estate holdings 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. For more information about Rudin, please visit https://www.rudin.com/.
Touro University is a system of non-profit institutions of higher and professional education chartered in 1970. Touro was founded primarily to enrich the Jewish heritage and to serve the larger American and global community. Approximately 19,000 students are currently enrolled at Touro University’s various schools and divisions, which encompass 37 campuses and locations in New York, California, Illinois, Montana, Nevada, New Mexico, 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 University system. For more information, visit www.touro.edu.