Yeshiva University as an educational institution has owned real estate for well over a century. From its origins as the parochial elementary school, Yeshivas Etz Chaim, it has owned the property from which it operated since at least 1890. YU's primary founding school, Yeshivas Rabbenu Yitzchak Elchanan first sought to own its building in 1904.
YU students are well aware of the academic and dormitory properties that YU owns. Students visit many of these buildings daily and develop an intimate knowledge of their layouts and functions.
YU also has maps of its campuses which list academic buildings, dormitories, and parking lots.
Like other universities YU has invested in real estate. Sometimes the land holdings can be developed into more academic buildings or dormitories, sometimes the land holdings are investments that are intended to generate income.
During the fallout of the 2008 financial crisis, YU linquidated its more valuable property assets in order to maintain cashflow and just keep the university running. The university has maintained ownership of several properties in Washington Heights. Many of these properties were purchased within the past few decades, and many are also kept under holding companies that are owned by YU.
Occupied in Use:
2498 Amsterdam Avenue
Property Information Portal Profile
YU purchased this tenement building in 2007 under the name of the 2948 Amsterdam Avenue LLC. It has both commercial and residential tenants. The department of buildings reports that there are 3 residential units in the building.
Annual Income as reported on 990 tax forms:
- 2023 - $44,370
- 2022 - $54,178
- 2021 - $60,930
- 2020 - $59,219
- 2019 - $56,687
- 2018 - $55,933
- 2017 - $50,544
- 2016 - $56,377
2479 Amsterdam Avenue
Property Information Portal Profile
YU purchased this garage in 2007 under the name 2479 Amsterdam Avenue LLC, and leases it to Icon parking to operate as a commercial parking garage.
Annual Income as reported on 990 tax forms:
- 2023 - $442,813
- 2022 - $484,197
- 2021 - $376,341
- 2020 - $482,879
- 2019 - $564,959
- 2018 - $609,590
- 2017 - $539,325
- 2016 - $524,496
Both 2479 Amsterdam Ave and 2498 Amsterdam Avenue were purchased together from the estate of Michael Parrino
24-36 Laurel Hill Terrace
Property Information Portal Profile
YU purchased this apartment building in 2007 from real estate developer Richard Parkoff.
Annual Income as reported on 990 tax forms:
- 2023 - $448,185
- 2022 - $507,276
- 2021 - $527,703
- 2020 - $648,715
- 2019 - $642,620
- 2018 - $608,541
- 2017 - $623,817
- 2016 - $655,701
The department of buildings reports 48 residential units in the building. Presently, YU leases the units to tenants
Abandoned Buildings:
2496 Amsterdam Ave
Property Information Portal Profile
YU purchased this old factory building in 2005, and has kept it vacant since.
557 W 185th St
Property Information Portal Profile
YU purchased the property on Dec. 28, 1987 under the name 557 West 185th St Corp.
12 Washington Terrace
Property Information Portal Profile
YU purchased this house in 2006, from its resident homeowner. It is currently vacant.
10 Washington Terrace
Property Information Portal Profile
YU purchased this property in 2006 from its resident homeowner. It is currently vacant.
Both 10 and 12 Washington Terrace have fences around stairs at the entrance to the house. The wooden porch awnings for both houses were removed.
Empty Lots:
6 Washington Terrace
Property Information Portal Profile
YU purchased this house in 2001, and then demolished it in 2003, leaving the lot vacant to the present day.
2 Washington Terrace
Property Information Portal Profile
YU purchased this house in 1984, under the alias of the CFIP Corp. YU seems to have left the building vacant, letting it decay until it demolished it in 2003.
13 Washington Terrace
Property Information Portal Profile
YU purchased this building in 1997 under the alias of the OBC Corp. They demolished it in 2003.
2506 Amsterdam Ave
Property Information Portal Profile
YU purchased the four story tenement house that used to stand here in 1967. They demolished it in 1995.
2461 Amsterdam Ave
Property Information Portal Profile
YU purchased this property in 2007 under the name "2461 Amsterdam I LLC." They kept the building vacant of tenants and neglected to do any maintenance. In 2017 the roof collapsed into the upper stories of the buildings. YU finished demolishing the building in 2022, and the lot remains vacant at the present.
See my article and other sources.
At some point I may make another post about YU's parking lots, many of which were previously occupied by buildings.
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