[PHOTOS] Behold The Multimillion-Dollar Homes NYU Purchased For Administrators

Yesterday, we brought you the news that NYU is using your tuition dollars to provide loans for and, in some cases, outright purchase multimillion-dollar homes for top administrators and faculty. In case you weren’t shocked by the realization that your hard-earned tuition is going to finance faculty’s luxury apartments, today we’re bringing you photos of these lavish residences. By the time you see them all, you’ll want to trade that Wall Street career for a path in University administration:

Richard Revesz, Dean of the Law School, Loaned $5.7 million:

Richard Revesz, Dean of the Law school, has the highest outstanding loan from NYU, at over $5.7 million. That money helped finance this three-story West Village town house. With neighbors like Matthew Broderick and Hugh Jackman, who wouldn’t want to go into education?!

Jacob Lew, Former VP Operations, Loaned $1.4 million ($400,000 forgiven):

Jack Lew, NYU’s former VP of Operations, came under scrutiny in the Senate for the $1.4 million loan — $400,000 of which was forgiven — that he received for this Riverdale house. Located at the end of of a quiet, leafy block Lew’s house was mysteriously absent from Google Street View, so we had to make the (admittedly pleasant!) trek up to the Bronx to snap these photos.

Dr. Robert Grossman, Dean of the Medical School, NYU Purchased $6.5 Million:

NYU’s largest outright purchase of a home for a faculty member was the $6.4 million Upper East Side apartment given to Dr. Robert Grossman, Dean of the Medical School. The building is located on a block dotted with luxury shops like Gucci and Tom Ford. We tried to take photos of the lavish lobby, but were held at bay by the building’s two security guards.

Mary Brabeck, Dean of Steinhardt, $500,000 Loan:

Dean Brabeck received a $500,000 loan towards this Murray Hill apartment. Unlike some of the more controversial loans, Dean Brabeck’s was fairly straightforward, with her receiving it after two years spent in university housing and terms set by NYU. Still, her apartment in this historic mansion highlights what the baseline home looks like for top administrators.

So if competing for precious inches of fridge space and praying for air conditioning in your low-cost triple is getting you down, consider a career in higher education administration, where if enriching students with timeless wisdom doesn’t satisfy you, there’s a fat paycheck and a swank apartment awaiting you at the end of the day. And hey, NYU is hiring!

All photos by Rishi Bandopadhay, except #5 via StreetEasy

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    7 Comments

  1. T. Sleeves says

    “By the time you see them all, you’ll want to trade that Wall Street career for a path in University administration”

    How do you think you get a university administrative position?

    Jack Lew…Citi

  2. Sean P. says

    Three of these were bought with mortgages. Barring the third of Lew’s mortgage that was forgiven, that’s money that is to be paid back to the school with interest. The other one –Grossman’s – was purchased by the NYU Realty Trust, a for-profit company seaparate from the university that makes money from the real estate NYU owns. None of our tuition dollars went into this apartment. NYULocal reported this in a previous article. Stop spreading misinformation, NYULocal.

  3. says

    “… the NYU Realty Trust, a for-profit company seaparate from the university that makes money from the real estate NYU owns. None of our tuition dollars went into this apartment.”

    If the trust is for-profit and operates using NYU’s real estate assets, I sure hope our tuition dollars aren’t going toward the upkeep, expansion, and improvement of said real estate. Otherwise, those apartments could very well be said to be provided by non-profit tuition dollars.

  4. Harry Grabow says

    Discussion I’d like to see: “How can sectors like education (or, equally importantly, engineering) attract top talent away from Wall Street/corporate law firms in the face of skyrocketing (on, say, a 50 year time-line) salaries and bonuses? Can it be done without compromising core values?”

    Discussion I’m beginning to see: https://www.youtube.com/watch?v=UwxP_OZWWRg

    “With neighbors like Matthew Broderick and Hugh Jackman, who wouldn’t want to go into education?!” is a great question that should be asked with sincerity, lest we bury this important debate (and prior great reporting) in snark.

  5. Zach S-W says

    The first commenter seems confused about Jacob Lew’s career trajectory. Lew went to Citi after leaving NYU.

  6. says

    I was wondering if you ever thought of changing the layout of your site?
    Its very well written; I love what youve got to
    say. But maybe you could a little more in the way of content so people could connect with it better.
    Youve got an awful lot of text for only having 1 or 2 pictures.
    Maybe you could space it out better?