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June 3, 2011
Brooklyn Broadside: NYU’s Expansion Benefits From Downtown Space Here
Brooklyn Daily Eagle
by Dennis Holt
Triple oops! The Eagle's Dennis Holt forgets to disclose his fealty to all things Ratner.
Last week’s report on NYU-Polytechnics’s growth plan adds a new dimension and a new promise. They plan to expand by taking up space in nearby office buildings, in MetroTech space for that matter.
The plan includes Poly taking up 120,000 square feet of office space in two buildings, the ninth and 10th floors of 2 MetroTech and the sixth floor of 15 MetroTech.
...This is a win-win situation for all involved. Forest City Ratner, in this case, earns income from empty, non-paying MetroTech space. NYU pays much less to rent the 120,000 square feet than if it had to build anew. And NYU also achieves a degree of planning capability it didn’t have before.
Posted by eric at June 3, 2011 10:31 AM