First Lehman College dorm marks new era for Bronx campus

Lehman College unveiled its first dormitory at 2530 Grand Concourse, marking a milestone for what was historically a commuter school.

The Lehman Grand, which will house more than 180 students, is inside the newly renovated Dollar Savings Bank, an Art Deco-style building constructed in the 1930s. It includes amenities such as 24-hour security, a movie and gaming room, multiple lounge and study spaces, and a discount at the Fine Fare Supermarket next door. For Lehman students, the 10-story dorm represents a long-awaited step forward.

Dorm pricing ranges from $9,025 to $16,720 per academic year, depending on room type — standard, city view and penthouse — according to Lehman’s site.

Lehman College is a City University of New York school that was built in 1931 as Hunter College’s Bronx campus, before it was established as an independent CUNY school in 1968, according to Lehman’s site. It has more than 13,300 students, according to the site, about 11,600 undergraduate and 1,700 graduate.

The new dorm’s name was chosen by Lehman’s student government association, explained its president, Michael Galindo. A rising junior and accounting major, Galindo won’t be living in the dorms, but touched on its significance to the student body at large.

“We never really had a building just for ourselves to actually live in, to actually sleep in … for us to be with our friends,” Galindo said. “It’s a grand thing.”

The dorms could better Lehman campus-wide, Galindo said, by attracting more out-of-state or international students.

Anthony Stone, a senior environmental science major and student government senator, expressed similar excitement. He said it was a great feeling to be standing in a building he had been walking past for four years, when it was still vacant.

Stone noted the benefit for students that don’t live close to campus, and are deterred by traffic or late buses and trains. Residents in the dorm can also take a shuttle to campus, he said.

Bronx elected officials, including state Sen. Gustavo Rivera, also lauded the new development. Rivera’s office is only a block from Lehman Grand, and he too has seen the former bank building go unused for years.

“I am very happy to see any time — that not only the neighborhood that I’ve worked in for so long, but that so many of my constituents have seen — a place that has been laid barren for so long, now be a vibrant place where students can come, can live and can thrive.” Rivera said.

To finance Lehman Grand, the school worked with MADDD Equities, a Long-Island based real estate development firm. MADDD bought the building about seven years ago — which included the large part of the former bank that MADDD helped renovate into a Fine Fare Supermarket — MADDD CEO and founder Jorge Madruga explained.

The firm considered making the dorm site a homeless shelter, but Madruga wanted to pivot toward permanent affordable housing that would benefit the community, he said. Lehman got involved about a year ago, the school said.

Lehman will pay a minimum of $575,000 annually for operating costs — security, utilities and maintenance, among other expenses — according to an October 2025 meeting resolution from the committee on facilities planning and management, run by members of the CUNY Board of Trustees.

The project is structured as a leasehold condominium between MADDD and Lehman, according to the resolution, which means MADDD owns the property and leases it to Lehman over the next 40 years. Lehman doesn’t have to pay anything for the first three years, but in the fourth year it will cost about $1.8 million. In the fifth year the school will pay about $1.9 million, followed by 3 percent escalations annually, the resolution stated.

The dorm is part of an ongoing effort to revive the corridor, Madruga said. First, the Fine Fare, then Lehman Grand, and next, a medical facility at 2532 Grand Concourse next door to the dorm. Madruga said MADDD is hoping the new medical facility, called United Medico, will be done in the next 60 days.

“I wanted to make something that the Bronx will be proud of,” Madruga said.

Lehman President Fernando Delgado said a residential option for students was in talks for several years, and that realizing the vision took a lot of work and a large team. He thanked the patience and perseverance required of those involved while navigating the city’s building system.

“What we finally have is a living space for our students that is useful as a safe and vibrant living space,” Delgado said. “But more importantly, supports learning, both classroom learning and social development.”