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Nicholas Tishuk's Bedford Stuyvesant New Beginnings Charter School Secures 35-Year Lease In Williamsburg

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LEASED
$70

New York

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Mixed-use
Leased 03/08/2024
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LEASED

Nicholas Tishuk's Bedford Stuyvesant New Beginnings Charter School Secures 35-Year Lease In Williamsburg

217 North 10th Street

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Mixed-use
Leased 03/08/2024
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Summary

NEW YORK
Asset Type:Mixed-use
Transaction Type:Lease

The mixed-use property located at 217 North 10th Street in Williamsburg was leased to Bedford Stuyvesant New Beginnings Charter School for a 35-year term. The 51,000 square foot space was secured at an asking rent of approximately $70 per square foot. The building was designed by Morris Adjmi.

Summary of transation details:

  • Property Type: Mixed-use
  • Transaction Amount: Not specified
  • Landlord: Largo
  • Tenant: Nicholas Tishuk - Bedford Stuyvesant New Beginnings Charter School
  • Landlord's Representatives: Jason Frazier & Jesse de la Rama - CBRE
  • Tenant's Representative: Josh Berger - Norman Bobrow & Company
  • Address: 217 North 10th Street
  • Market: Williamsburg
  • Asking Rent: $70/ft
  • Size: 51,000 square feet
  • Lease Term: 35-year lease

The lease deal was facilitated with the help of Jason Frazier and Jesse de la Rama from CBRE representing the landlord, Largo. On the tenant's side, Josh Berger from Norman Bobrow & Company acted as the representative for Nicholas Tishuk, the school's leader.

Players

Jason Frazier
7 deals
BROKER

Jesse de la Rama
CBRE
5 deals
BROKER

Josh Berger
4 deals
BROKER

Details

LEASED
IMAGE: Jesse de la Rama, Jason Frazier, Nicholas Tishuk & Josh Berger DATE: 03/08/2024 ADDRESS: 217 North 10th Street MARKET: Williamsburg ASSET TYPE: Mixed-use LANDLORD: Largo TENANT: Nicholas Tishuk - Bedford Stuyvesant New Beginnings Charter School (@Bsnbcs82) LANDLORD'S REP: Jason Frazier & Jesse de la Rama - CBRE (@CBRE) TENANT'S REP: Josh Berger - Norman Bobrow & Company ASKING RENT: $70/ft ~ SF: 51,000 LEASE TERM: 35-year lease NOTE: Brooklyn charter school company Bedford Stuyvesant New Beginnings Charter School secured a 35-year lease for its second location in Williamsburg, taking up 51,000 square feet at the Morris Adjmi-designed building at 217 North 10th Street at an asking rent of around $70 per square foot.

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Deal Type
Effective Rent (Annual)

$802,471.55

Total Lease Value

$8,024,715.52

Net Landlord Cash Flow$802,471.55