Touro University Buys Harlem Property From NY College of Podiatric Medicine for $42M
The building sale comes after NYCPM officially merged with Touro University
By Isabelle Durso January 9, 2025 2:55 pm
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A New York podiatry college just sold off a lot of square feet.
Touro University has bought a property in Harlem from the New York College of Podiatric Medicine (NYCPM) for $42 million as part of Touro’s acquisition of NYCPM, according to city records made public Thursday.
Touro purchased the five-story office building at 53 East 124th Street directly from NYCPM, records show.
The building sale is part of NYCPM’s 2020 agreement to merge with Touro and New York Medical College, according to Touro. That deal officially closed on Thursday and NYCPM is now officially apart of Touro and New York Medical College, according to an announcement from Touro.
“Touro healthcare educational systems and their clinical healthcare delivery systems will integrate New York College of Podiatric Medicine in a way that improves patient care and transforms the experience for students and faculty,” Dr. Michael Trepal, Dean of NYCPM, said in a statement.
NYCPM’s Keith Greathouse signed for the seller, records show, while it was unclear who signed for the buyer. NYCPM’s website lists Greathouse as secretary of the college’s board of trustees, as well as CEO of DermAvance Pharmaceuticals.
It’s unclear who brokered the deal.
Touro is a private Jewish university based in New York City, with more than 19,000 students and 35 locations nationwide, including several in Manhattan, Queens and Brooklyn, according to its website.
That includes its campus at 3 Times Square, where the university expanded to roughly 310,000 square feet across nine floors in March 2023 with plans to consolidate all of its New York campuses under one roof, as Commercial Observer previously reported.
Touro’s new building between Park and Madison avenues is also home to the medical clinic Foot Center of New York and the medical office of Dr. Linda Shookster. It’s unclear whether those tenants will remain at the property under its new ownership.
“Adding podiatric medicine to our existing network of medical and health science schools and programs will serve to augment and strengthen our academic offerings,” Touro President Dr. Alan Kadish said in a statement.
Isabelle Durso can be reached at idurso@commercialobserver.com.
