NYU Professor Gets $8.3 Million From Deal With School: Report

GREENWICH VILLAGE, NY — A New York University law school professor collected millions from a real estate deal with the school, the New York Post reported.

The professor, Richard Stewart, director of the Frank J. Guarini Center on Environmental, Energy, and Land Use Law, got $8.3 million from the sale of a townhouse on Charles Street, the Post reported.

A deal dating back to the mid-90s said Stewart had the right to purchase the 4,600-square-foot home, which was owned by NYU, according to the Post.

The newspaper reported that Stewart transferred the option to buy the home to a third party.

In 2017, Le Petit Francozuelan LLC bought the townhouse for $15 million, property records show.

The university received the cash established in the 1996 agreement and Stewart got the remaining balance from the sale, the Post reported, citing NYU's latest tax filings.

NYU spokesperson John Beckman told the Post the multi-million dollar deal was "a one-time matter involving the sale of a property that served as faculty housing for over two decades, and both the university and the faculty member involved realized significant gains from the sale of the property compared to the original purchase price."

Click here to read the full New York Post report.