United Nations Development Corporation

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United Nations Development Corporation
Flag of New York.svg
New York State public benefit corporation overview
Formed1968 (1968)
JurisdictionReal estate within a defined area in the vicinity of U.N. headquarters in Manhattan
HeadquartersTwo United Nations Plaza
27th Floor
New York, NY 10017[1]
New York State public benefit corporation executive
  • Robert Cole, Executive Vice President & General Counsel
Websitewww.undc.org

The United Nations Development Corporation (UNDC) is a New York State public-benefit corporation in the U.S. state of New York that helps the United Nations with its real estate, office space, and development needs. It was created in 1968. The UNDC is permitted to develop and operate real estate only within a prescribed area (the "Development District") in the vicinity of U.N. headquarters in Manhattan. The boundaries of the Development District and other powers of the Corporation are subject to change to the extent provided by additional legislation.[2]

Organization[edit]

The UNDC has a 14-member board of directors.[3] Its management team is headed by Executive Vice President and General Counsel Robert Cole, who reports to the board.[4] In 2017, the UNDC had operating expenses of $28.05 million, an outstanding debt of $70.11 million, and a level of staffing of 12 people.[5]

Facilities[edit]

The UNDC has assisted in developing One UN Plaza, Two UN Plaza, and Three UN Plaza. Three UN Plaza is leased to UNICEF as its world headquarters.[6]

See also[edit]

External links[edit]

  1. ^ "Company Overview of United Nations Development Corporation". www.bloomberg.com. Retrieved December 5, 2018.
  2. ^ "UNDC Mission Page". Retrieved November 6, 2018.
  3. ^ "UNDC Board Page". Retrieved November 6, 2018.
  4. ^ "UNDC Officers Page". Retrieved November 6, 2018.
  5. ^ "NYSABO 2018 Report" (PDF). pp. 16, 29, 44. Retrieved November 6, 2018.
  6. ^ "UNDC Plaza Info". Retrieved November 6, 2018.