Fordham University is buying nine floors of commercial space in the landmarked Art Deco building at 45 Columbus Avenue, directly across the street from the Lincoln Center campus on 61st Street.
The purchase, which will close in June 2014, will enable the University to consolidate its off- campus operations in one location close to campus, and to reduce its costs for those offices significantly.
“At the moment, our off-campus operations are housed among several different properties at varying distances from the campus proper,” said Brian J. Byrne, Ph.D., vice president for the Lincoln Center campus. “The space at 45 Columbus is perfect for offices and limited classroom use, and will be much more convenient to the Lincoln Center campus, in addition to offering the University significant cost savings.”
The purchase—actually a condominium interest—represents all of the commercial space in the building, and is currently owned by the College Board. The building was converted in the mid-1980s from a storage facility to mixed residential-commercial use. The University will take possession of the space in early 2015.
Fordham currently leases approximately 100,000 square feet of off-campus space in Manhattan, most of it for offices and academic centers. The new space comprises approximately 90,000 square feet, meeting Fordham’s requirements. The commercial condominium is part of the 27-story Sofia Condominium.