“Jewish Theological Seminary Taps Real Estate to Update Manhattan Campus”

“Leaders of the Jewish Theological Seminary have tapped New York City’s strong real-estate market to fund the modernization of its Morningside Heights campus.

The 130-year-old educational institution said it completed a $96 million deal to sell a parcel of land on the eastern edge of its Morningside Heights campus, air rights to develop that land and an off-site residence hall to Savanna, a real-estate investment and development firm.

The money from the sale, which closed Thursday, will fund the redevelopment of its complex at 3080 Broadway, adding features that include a performing-arts space and a residence hall built above a new library that will house and display its renowned Judaic collection of rare books, manuscripts and scrolls.”

Continue reading “Jewish Theological Seminary Taps Real Estate to Update Manhattan Campus” in Wall Street Journal.