NYU is moving forward with its plans to copy us and set up shop in the quickly-changing city of Shanghai. Like the school's outpost in Abu Dhabi, NYU Shanghai will be run in conjunction with a partner institution, East China Normal University, won't be funded by NYU and has hopes that a majority of its 3,000 students will be Chinese, not American. Students will be required to study at least one semester abroad. It aims to open as soon as Fall 2013. We just hope it doesn't turn out like some other institution's attempts to branch out to that region...
NYU Looks East for Its Next Outpost
NYU Abu Dhabi As Selective as Ivy Leagues
Opening this September with a freshman class of 150, NYU Abu Dhabi is shaping up to be a pretty competitive school. According to the Times, 90% of the first class is bilingual, and they have an average SAT verbal score of 715 and an average math score of 730. It's also turning into a completely international university. Robert M. Berdahl, president of the Association of American Universities, said, "The NYU model reflects a very different and thoughtful approach to what [NYU president] John Sexton and others perceive as the increasing globalization of higher education and the disappearance of traditional boundaries." But is Abu Dhabi really a college town?
New Skyscraper Set To Be Tallest, Most Expensive Residential Building in City
While walking through midtown, who among us does not occasionally think, "Jeez, this place sure could use some more skyscrapers?" Well, developer Gary Barnett, of Extell Development Company, has been paying attention to your innermost thoughts. Barnett is gearing up to start construction in the next three weeks on a $1.3 billion skyscraper on 57th Street that will overtake Trump World Tower as the tallest residential building in the city.
The NYPD's Abu Dhabi Beat
The NYPD will have police officers stationed in Abu Dhabi to, per WNBC, "help in crime fighting as well as share intelligence in the war on terror. " Calling the United Arab Emirates the "crossroads of the Middle East," Police Commissioner Ray Kelly said information will be exchanged between the NYPD and Abu Dhabi officials and that the NYPD will help train their personnel. Having NYPD officials overseas is nothing new, as they are in Montreal, Toronto, London, Madrid, Paris, Tel Aviv and other cities. A few years ago, the New Yorker had a great feature on the NYPD's anti-terror work.
Chrysler Building Acquired by Middle East Group
An Abu Dhabi sovereign wealth fund has acquired the Chrysler Building from a fund managed by Prudential Financial Inc. for an untold sum. It was learned last month that the Abu Dhabi group was considering buying a majority stake in the 1930 skyscraper for $800 million; Bloomberg news is now reporting that the deal is done. Middle Eastern investors have spent $1.8 billion this year buying commercial property in the U.S., more than other international buyers. “We're sending our money their way to purchase oil, and that money is coming back and buying our assets,” said Dan Fasulo, market analysis director at Real Capital.
75% of Chrysler Building is for Sale
The NY Post is reporting that the Abu Dhabi Investment Council "is negotiating an $800 million deal for a 75 percent stake" of the Chrsyler Building. Which would mean the entire Art Deco skyscraper, designed by William Van Alen (who was never paid!), is valued at over $1 billion.

