Columbia University, NYU; Apartment Buildings - Real Estate Empires
By Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn
Summer is almost over as evidenced yesterday by the crowds of NYU students in Greenwich Village. With a little help from their parents they moved into dorms and apartments in Greenwich Village. Yesterday was NYU "Move -in Day." A similar scenario takes place in Morningside Heights as Columbia University students begin moving in to their dorms and luxury apartments that Columbia owns. Both NYU and Columbia have been building real estate empires in their respective Manhattan neighborhoods. Both private non profit institutions have real estate holdings worth more than half a billion dollars. Columbia ownes more than 7,000 apartments and it's real estate is worth approximately $635 million. This number excludes the value of wharehoused property it has not yet converted to educational use....
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