NYU Buys Prez $1.1M Penthouse Upgrade

New York University is picking up the cost of creating a 4,200-square-foot penthouse duplex for its new president, Andrew Hamilton, The New York Times reports. With his January arrival from the University of Oxford, the college is completely renovating a cermonial campus facility into a four-bedroom, four-and-a-half-bathroom unit with a rooftop terrace in a landmark Greenwich Village building, described as “swanky” by an NYU spokesperson. The construction is estimated to cost at least $1.1 million, but could run as much as twice that amount. The decision comes as the school is one of the many American universities under pressure to cut high tuition costs.