diff --git a/flang/runtime/file.cpp b/flang/runtime/file.cpp
--- a/flang/runtime/file.cpp
+++ b/flang/runtime/file.cpp
@@ -352,7 +352,7 @@
 
 int OpenFile::PendingResult(const Terminator &terminator, int iostat) {
   int id{nextId_++};
-  pending_.reset(&New<Pending>{}(terminator, id, iostat, std::move(pending_)));
+  pending_ = New<Pending>{terminator}(id, iostat, std::move(pending_));
   return id;
 }
 } // namespace Fortran::runtime::io
diff --git a/flang/runtime/io-api.cpp b/flang/runtime/io-api.cpp
--- a/flang/runtime/io-api.cpp
+++ b/flang/runtime/io-api.cpp
@@ -28,9 +28,10 @@
     void ** /*scratchArea*/, std::size_t /*scratchBytes*/,
     const char *sourceFile, int sourceLine) {
   Terminator oom{sourceFile, sourceLine};
-  return &New<InternalListIoStatementState<DIR>>{}(
-      oom, descriptor, sourceFile, sourceLine)
-              .ioStatementState();
+  return &New<InternalListIoStatementState<DIR>>{oom}(
+      descriptor, sourceFile, sourceLine)
+              .release()
+              ->ioStatementState();
 }
 
 Cookie IONAME(BeginInternalArrayListOutput)(const Descriptor &descriptor,
@@ -52,9 +53,10 @@
     const char *format, std::size_t formatLength, void ** /*scratchArea*/,
     std::size_t /*scratchBytes*/, const char *sourceFile, int sourceLine) {
   Terminator oom{sourceFile, sourceLine};
-  return &New<InternalFormattedIoStatementState<DIR>>{}(
-      oom, descriptor, format, formatLength, sourceFile, sourceLine)
-              .ioStatementState();
+  return &New<InternalFormattedIoStatementState<DIR>>{oom}(
+      descriptor, format, formatLength, sourceFile, sourceLine)
+              .release()
+              ->ioStatementState();
 }
 
 Cookie IONAME(BeginInternalArrayFormattedOutput)(const Descriptor &descriptor,
@@ -78,9 +80,10 @@
     void ** /*scratchArea*/, std::size_t /*scratchBytes*/,
     const char *sourceFile, int sourceLine) {
   Terminator oom{sourceFile, sourceLine};
-  return &New<InternalFormattedIoStatementState<DIR>>{}(oom, internal,
-      internalLength, format, formatLength, sourceFile, sourceLine)
-              .ioStatementState();
+  return &New<InternalFormattedIoStatementState<DIR>>{oom}(
+      internal, internalLength, format, formatLength, sourceFile, sourceLine)
+              .release()
+              ->ioStatementState();
 }
 
 Cookie IONAME(BeginInternalFormattedOutput)(char *internal,
@@ -234,8 +237,9 @@
   } else {
     // CLOSE(UNIT=bad unit) is just a no-op
     Terminator oom{sourceFile, sourceLine};
-    return &New<NoopCloseStatementState>{}(oom, sourceFile, sourceLine)
-                .ioStatementState();
+    return &New<NoopCloseStatementState>{oom}(sourceFile, sourceLine)
+                .release()
+                ->ioStatementState();
   }
 }
 
diff --git a/flang/runtime/memory.h b/flang/runtime/memory.h
--- a/flang/runtime/memory.h
+++ b/flang/runtime/memory.h
@@ -32,20 +32,32 @@
   p = nullptr;
 }
 
-template <typename A> struct New {
-  template <typename... X>
-  [[nodiscard]] A &operator()(const Terminator &terminator, X &&... x) {
-    return *new (AllocateMemoryOrCrash(terminator, sizeof(A)))
-        A{std::forward<X>(x)...};
-  }
-};
-
 template <typename A> struct OwningPtrDeleter {
   void operator()(A *p) { FreeMemory(p); }
 };
 
 template <typename A> using OwningPtr = std::unique_ptr<A, OwningPtrDeleter<A>>;
 
+template <typename A> class SizedNew {
+public:
+  explicit SizedNew(const Terminator &terminator) : terminator_{terminator} {}
+  template <typename... X>
+  [[nodiscard]] OwningPtr<A> operator()(std::size_t bytes, X &&... x) {
+    return OwningPtr<A>{new (AllocateMemoryOrCrash(terminator_, bytes))
+            A{std::forward<X>(x)...}};
+  }
+
+private:
+  const Terminator &terminator_;
+};
+
+template <typename A> struct New : public SizedNew<A> {
+  using SizedNew<A>::SizedNew;
+  template <typename... X> [[nodiscard]] OwningPtr<A> operator()(X &&... x) {
+    return SizedNew<A>::operator()(sizeof(A), std::forward<X>(x)...);
+  }
+};
+
 template <typename A> struct Allocator {
   using value_type = A;
   explicit Allocator(const Terminator &t) : terminator{t} {}
diff --git a/flang/runtime/unit-map.cpp b/flang/runtime/unit-map.cpp
--- a/flang/runtime/unit-map.cpp
+++ b/flang/runtime/unit-map.cpp
@@ -64,7 +64,7 @@
 }
 
 ExternalFileUnit &UnitMap::Create(int n, const Terminator &terminator) {
-  Chain &chain{New<Chain>{}(terminator, n)};
+  Chain &chain{*New<Chain>{terminator}(n).release()};
   chain.next.reset(&chain);
   bucket_[Hash(n)].swap(chain.next); // pushes new node as list head
   return chain.unit;
diff --git a/flang/runtime/unit.cpp b/flang/runtime/unit.cpp
--- a/flang/runtime/unit.cpp
+++ b/flang/runtime/unit.cpp
@@ -95,7 +95,7 @@
     return *unitMap;
   }
   Terminator terminator{__FILE__, __LINE__};
-  unitMap = &New<UnitMap>{}(terminator);
+  unitMap = New<UnitMap>{terminator}().release();
   ExternalFileUnit &out{ExternalFileUnit::LookUpOrCreate(6, terminator)};
   out.Predefine(1);
   out.set_mayRead(false);