Updated Oct 1, 2026
Scott Rechler Of RXR Leases 8,800 Square Feet To Mary Christian For Ivy Primary Prep In Jersey City
316 15th Street
Building Size
8,800 SF
Asset Type
Commercial
Closing
Sep 30, 2026
About this deal
AI
The property asset involved in this transaction is an 8,800-square-foot commercial space located at 316 15th Street in Jersey City, NJ. This asset is situated in the SoHo West neighborhood and is a part of RXR's Radio Lofts.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not specified
- Landlord: Scott Rechler - RXR
- Tenant: Mary Christian - Ivy Primary Prep
- Lease Date: 09/30/2026
- Market: Jersey City, NJ
- Square Footage: 8,800
The deal includes Ivy Primary Prep signing a lease for a new early education center that will accommodate about 150 children. This new facility aims to enhance Ivy Prep’s current presence in the neighborhood by offering space designed for infant and toddler care, classrooms, and children's sports and activities, with the anticipated opening in spring 2027.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93