"The gift could not have come at a better moment," says JudySteinhardt, the IFA's chairman of the board, in a release. "Themoney will be used entirely for tuition assistance awards,effective immediately. With these funds, the IFA will be able toprovide more financial support to students than would be otherwiseimpossible in these difficult economic times."

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In a release, Solow cites IFA's "brilliant faculty and longtrack record of producing leaders in the field. The students make acommitment to a rigorous training program, and I am delighted tohelp by making a commitment to them."

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Solow previously endowed two professorships at the IFA, one inarchitecture and one in modern art. He has also given the IFA twofloors at 3 E. 78th St., adjacent to the James B. Duke House at thecorner of 78th Street and Fifth Avenue, where the IFA is housed.The IFA plans to use the 3 E. 78th space to expand its library,representing the first expansion of the IFA campus in more than 25years. Solow has been an IFA trustee since 1987, including 10 yearsas chairman of the board of trustees.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.