Mintz Assists Touro College with 240,000 Sq. Ft. Office Lease
Key Facts
- Mintz regularly represents NYC-based Touro College and University System in its complex real estate matters
- Most recently, we assisted with a consolidation of Touro’s Manhattan classroom locations
The Situation
Mintz regularly represents Touro College (“Touro”) in connection with various real estate matters to facilitate the operation of its multi-campus educational institution.
The Approach
We recently represented Touro in connection with a lease of approximately 240,000 square feet of space in New York City. The space is intended to be Touro’s largest and primary location in Manhattan for the operation of its educational programming.
This transaction was structured as a 32-year leasehold condominium to allow Touro to take advantage of an exemption from New York City real estate taxes — an arrangement that results in a significant savings to Touro over the life of the transaction.
The Outcome
This successful leasing transaction allows Touro to consolidate several of its other New York locations at this new space.
