New York University (NYU) has announced a $100 million gift from alumnus John A. Paulson (Stern ’78) toward completion of a new academic building.

The facility, set to open in January, will be the largest academic building at NYU’s Washington Square campus and is expected to achieve a LEED Gold certification as an environmentally friendly building. It will include 58 midsize classrooms, a 350-seat proscenium theater with fly loft capabilities, a 400-bed residence hall for first-year students, and new athletic facilities, among other things. In recognition of the gift, the facility will be named after Paulson.

“When John Paulson received his degree over 40 years ago, the global stature that NYU enjoys today could scarcely have been imagined,” said NYU board chair William Berkley. “That successful trajectory was achieved in large part thanks to the conviction of people like John. This fabulous building is a testament to NYU’s proud transformation and the people who have made it possible.”

“As one of NYC’s most important institutions, NYU has been a shining star in our city since its formation in 1831,” Paulson said. “The Washington Square Campus is bustling with energy, creativity, and excitement. This magnificent new addition to our campus will cause our star to shine even brighter. I’m proud to support NYU with this project that will benefit multiple schools and programs at the university.”

(Photo credit: NYU)