Class-A Building, Prime Location
Spanning 350,000 Square Feet
Acquired for a Whopping $122 Million
This isn't some financial tycoon expanding their empire
It's the "real estate mogul" NYU, adding yet another campus...
When NYU Wants a Building, Even JPMorgan Has to Make Way
NYU has long embodied the philosophy that "education is the best investment" by acquiring real estate. According to a 2018 analysis by The Real Deal, NYU owns as many as 110 properties, totaling 12,780,000 square feet, spread across the cultural capital.
And the building acquired this time, as seen on NYU's official website, is a 10-story Class-A building in Downtown Brooklyn, 3 MetroTech Center.
Adjacent to it is NYU's academic hub in Brooklyn, including the Tandon School of Engineering and 370 Jay St.
This is also the new campus established by NYU in Brooklyn after 370 Jay St. opened in 2017.
And this building itself has an impressive pedigree, originally belonging to one of the world's premier financial companies, JPMorgan.
JPMorgan vacated the building back in December 2020, relocating all its employees to the adjacent 4 Metrotech Centre.
It's hard to overstate how convenient it will be for NYUers going to interviews or internships at JPMorgan, given it's just a crosswalk away.
Based on the renovation timeline, 3 MetroTech Center is expected to open for student use in the 2025-2026 academic year.
Is Buying a Building Just a Small Step in the "Ten-Year Plan"?
If you think buying this building is just a whim of NYU, you'd be mistaken.
As early as 2017, NYU had already planned to invest in the Brooklyn campus, announcing a ten-year, $500 million expansion plan.
The plan primarily targets the Tandon School of Engineering, including moving into the 370 Jay St. building, which was purchased from the Metropolitan Transportation Authority back in 2012.
This purchase is also expected to simultaneously expand Tandon's space. As for which specific academic developments it will advance, that is still under discussion.
In short, in the fifth year of the plan, they've achieved a "small target" of $100 million. As for what exactly they'll do, they decided to spend the money first (just kidding).
What Is Tandon, NYU's "Favored Child," Really Like?
The Star Performer: Financial Engineering, Carrying the Whole School
When it comes to the NYU Tandon School of Engineering, one must mention its ace, the Master of Financial Engineering program.
Back in 2015, NYU's MFE program was not yet widely recognized, but now it has become the most sought-after program among MFE applicants, bar none.
Since Peter Carr took over as department chair in 2016, NYU's MFE program has been on a relentless upward trajectory.
As the former chair of Financial Mathematics at NYU Courant and former head of Market Modeling at Morgan Stanley and Quant Research at Bloomberg, Peter also brought on board Sara DeLusant, formerly the head of industry relations at Baruch College's top-ranked MFE program, to serve as the career director for NYU's MFE, providing formidable career resources.
Today, NYU Tandon's MFE program has surpassed MIT on QuantNet, consistently ranking among the top 10 financial engineering programs.
And in recent application cycles, outright rejections are the norm, and being waitlisted with a GPA of 3.8+ is commonplace.
Once you looked down on me, now you can't afford to reach me.
Rising Together, Blooming Across the Board
Led by its MFE trailblazer, other programs at Tandon have also taken off collectively.
Tandon students can take MFE courses across departments within the school, and also cross-register for courses at the Stern School of Business across the university.
Tandon's mathematics major has also been merged under the top-ranked NYU Courant in recent years, and with the integration of teaching resources, the program's quality has rapidly improved.
New York is no longer just a paradise for business students; it has long solidified its identity as the "Silicon Valley of the East." Tech companies including Facebook, Amazon, Google, and Netflix are aggressively expanding their footprint and recruiting in New York.
With a solid professional background and the geographical advantage of being in New York, Tandon students will undoubtedly enjoy the benefits of being first to the feast.
A graduation employment rate of up to 97%, and mid-career earnings exceeding $119,000. From the smallest companies to global industry giants, from the school's own STEM career fairs to the broader New York job market.
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Tandon students are not worried about finding a job; they're worried about having so many opportunities they don't know which to choose.
Admissions Difficulty, Rising Year by Year
Applications to Tandon continue to increase every year, and the admission standards are getting higher. Could the pandemic affect international enrollment? Tandon says, not a chance.
