Cornell University Leases Three Floors in New York City Property

Cornell takes up residence at one of the Sedesco’s Midtown Manhattan properties

NEW YORK--()--Sedesco Inc. announces today that Cornell University has leased a significant portion of 45 West 57th Street. Cornell will be occupying the second, fourth and fifth floors of the building; the buildout of the second floor for Cornell’s use is already well underway.

“Cornell has undertaken impressive growth throughout New York City, and we’re pleased to facilitate the development of the university’s foothold in Manhattan with our property near Central Park.”

The space at 45 West 57th Street marks Cornell’s first outpost near Central Park and will serve as a bridge between Manhattan and Cornell’s Roosevelt Island Campus, currently under construction and scheduled to open during the fall of 2017. The academic institution has undertaken a multi-year deal and intends to use the space primarily for alumni and student events. In addition, the university’s plans for the space include hosting think-tank type events. Cornell is planning to open the second floor for use in August 2016.

The building space will enable Cornell’s Samuel Curtis Johnson Graduate School of Management, as well as the other partner schools in the newly formed Cornell College of Business, to grow its presence in New York City. This new midtown location affords students not only within Johnson, but also across the School of Hotel Administration and the Dyson School of Applied Economics and Management, the opportunity to collaborate and learn. The Cornell College of Business will offer students immersion opportunities, projects, events, and speakers that support their respective courses of study in this impressive space near Carnegie Hall.

“We see a strong presence in New York City as essential for enhancing our relationships with our alumni, corporate partners and other key stakeholders,” said Cornell College of Business Dean Soumitra Dutta. “The space on West 57th will also provide an excellent platform venue for our faculty and students to take advantage of the unique resources of New York City.”

“We are excited to welcome Cornell University to 45 West 57th Street,” said Derek Gilchrist, General Counsel for Sedesco, Inc. “Cornell has undertaken impressive growth throughout New York City, and we’re pleased to facilitate the development of the university’s foothold in Manhattan with our property near Central Park.”

The remainder of its space in the building will be operational by October. Sedesco Inc. manages the building; JRM Construction is completing the build out for Cornell.

About Sedesco Inc.

Sedesco, Inc. is a diversified real estate investment, development and asset management company with deep footprints in several of New York City’s prime neighborhoods. The company’s work in real estate spans three divisions, real estate development, property management and sourcing and business development.

About Cornell College of Business

Cornell University launched the Cornell College of Business (CCB) July 1, 2016. CCB is comprised of the University’s three exceptional accredited business schools: the School of Hotel Administration (SHA), the Charles H. Dyson School of Applied Economics and Management (Dyson), and the Samuel Curtis Johnson Graduate School of Management (Johnson). Each school will maintain its unique identity and mission, while the new structure will enhance their collective capabilities by bringing together their faculty, curricular offerings, and programs under a unified College of Business. The new college will be one of the most comprehensive business schools in the country with 208 faculty and nearly 2,900 undergraduate, professional, and graduate students, enhancing the stature and recognition of business studies at Cornell in an increasingly competitive global landscape and allowing it to engage in even more ambitious educational and research initiatives.


FTI Consulting
Danielle Fornabaio, 212-850-5731

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