New York City Charter School For The Arts Signs 31-Year Lease At 241 Water Street Manhattan

The retail asset located at 241 Water Street in Manhattan encompasses a total area of 34,492 square feet. It is part of the South Street Seaport district in a vibrant market known for its commercial activity.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not disclosed
• Lease Term: 31 years
• Landlord: 241 Water Street Holdings LLC
• Tenant: New York City Charter School for the Arts
• Landlord's Representative: Peter Whitenack - Newmark
• Tenant's Representatives: Ira Schuman & Joe Byrnes - Savills

The deal is significant for the New York City Charter School for the Arts as it is relocating from its existing site at 26 Broadway to this new location. Peter Whitenack, Ira Schuman, and Joe Byrnes played key roles in the transaction through their respective agencies, facilitating the lease agreement between the landlord and the tenant.