Andrew Kimball simply landed a brand new job.
New York College employed the previous Financial Growth Company president and CEO to supervise the college’s world actual property portfolio, Crain’s New York Enterprise reported.
Kimball will take over in August with the title senior vice chairman for world actual property, amenities and campus improvement. The annual base wage vary for this place is round $600,000, based on job posting. NYU Langone Well being’s portfolio is not going to roll as much as Kimball.
Kimball will probably be tasked with overseeing a roughly 20 million-square-foot world actual property portfolio.
“That is about managing that footprint primarily, versus rising it, and ensuring that it’s achieved in actually strategic methods,” he advised Crain’s Wednesday.
Beneath Mayor Eric Adams, Kimball led EDC from 2022 till January 2026 and was concerned within the redevelopment of the Brooklyn Marine Terminal and SPARC Kips Bay, amongst different tasks.
Kimball ran Trade Metropolis and the Brooklyn Navy Yard Growth Corp. earlier than becoming a member of Adams’ crew. Kimball is known for working for Mike Dukakis throughout his 1988 presidential marketing campaign and for Mario Cuomo throughout his unsuccessful 1994 reelection marketing campaign.
Jeannie Pak, who beforehand labored within the function of EDC’s chief monetary officer, has been the company’s interim president and CEO since January. Pak reportedly can develop into EDC’s everlasting chief.
NYU has the biggest actual property footprint of any school or college within the metropolis. Final 12 months, the college expanded by acquiring 1 West 4th Road in NoHo from Hebrew Union School — which bought the property from NYU again in 1978 — for $75.5 million.
The varsity bought a 12-story scholar housing improvement at 35 Cooper Sq. from Bhatia Growth and Sherwood Equities for $69.2 million in 2024. A 12 months earlier than that, the college bought a 120,000-square-foot workplace constructing at 400 Lafayette Road from Sand Associates for $97.5 million.
Different notable offers embody paying $134 million in 2010 for the 733-bed Founders Corridor dormitory at 120 East twelfth Road and 2022’s $122 million buy of an workplace constructing at Downtown Brooklyn’s MetroTech Heart.
The NYU world community contains campuses in Abu Dhabi, Shanghai, Accra, Berlin, Buenos Aires, Florence, London, Madrid, Paris, Prague and Tel Aviv.
— Simon Galkevich
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