New York University Skip to Content Skip to Search Skip to Navigation Skip to Sub Navigation

NYU Buys Forbes Building

January 7, 2010
N-193, 2009-10

New York University today announced that it has completed the purchase of the 122,500 square foot Forbes Building—located on Fifth Avenue and 12th Street, just north of NYU’s Washington Square home—for academic uses. For the next five years, the Forbes organization will continue to occupy the building; following that, the University will use it for academic space.

NYU Executive Vice President Michael Alfano said, “We are very pleased with this agreement. Not only is this is an important property, a fair value, and a great location—close enough to our core to allow for a number of possible academic uses—but this purchase is also consistent with the community-oriented planning principles that the University developed with Manhattan Borough President Scott Stringer two years ago, especially the emphasis on acquiring existing structures rather than resorting to new construction. This building will benefit NYU significantly.”

Steve Forbes, Chairman and CEO of Forbes and Editor-in-Chief of Forbes magazine, said, “Selling our building to New York University is gratifying and appropriate. Both Forbes and New York University are Greenwich Village institutions, and the stewardship of this landmark building will be in able, caring, lasting hands.”

NYU is among the most space-efficient major research universities in the U.S.—for example, it has approximately one-half the per student square footage of Columbia University. The Forbes Building’s square footage will count towards the six million square feet the University expects it will need between now and 2031, NYU’s bicentennial.

The University will make a final determination on the specific academic use closer to the end of the Forbes organization’s tenancy.

Originally constructed in 1923, the building has served as the home of Forbes, Inc. since 1962. The architecturally significant building features an ornate limestone façade with a granite base. Forbes had previously donated a historic preservation easement of the façade, along with the property’s unused development rights, to the National Architectural Trust.

This Press Release is in the following Topics:
All University

Type: Press Release

Press Contact: John Beckman | (212) 998-6848


Search News



NYU In the News

Entrepreneurship Lab Opens at NYU

Crain’s New York Business covered the opening of the Mark and Debra Leslie Entrepreneurial eLab, which will be the headquarters for NYU’s Entrepreneurial Institute and all of the University’s programs aimed at promoting innovation and startups.

A Globalizer for N.Y.U. in Abu Dhabi

The New York Times profiled Bill Bragin who will become the first executive artistic director of NYU Abu Dhabi’s new performing arts center.

Think Tank to Ponder a Future for Ballet

The New York Times profiled Jennifer Homans, the director of NYU’s new Center for Ballet and the Arts.

The Brilliant Ten: Jonathan Viventi Builds Devices That Decode Thoughts

Popular Science named Assistant Bioengineering Professor Jonathan Viventi as one of its “brilliant ten” for his research into brain implants that could one day halt epileptic episodes:

Living and Leaving the Dream: Adrian Cardenas’ Journey from the Major Leagues to College

The New York Times ran a feature on Adrian Cardenas, a former major league baseball player who is now studying philosophy and creating writing at NYU.

NYU Footer