Updated Aug 31, 2026
LEASEDSpecial Purpose
Launch Expeditionary Learning Charter School Signs 15-Year Lease For 77,000 SF In Sunset Park
5902 6th Avenue
Building Size
77,000 SF
Asset Type
Special Purpose
Closing
Aug 28, 2026
About this deal
AI
The property asset involved in the transaction is a special purpose facility located at 5902 6th Avenue in Sunset Park, Brooklyn. The lease encompasses a total area of 77,000 square feet and is set in a market known for its diverse usage and community engagement.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: Not specified
- Address: 5902 6th Avenue
- Market: Sunset Park, Brooklyn
- Landlord: Redemptorist Fathers of New York
- Tenant: Launch Expeditionary Learning Charter School
- Lease Terms: 15-year lease
- Brokers: Jake Cinti & Jason Kroger - OPEN Impact Real Estate; Frank Liantonio, Jonathan Squires, Josh Neustadter & Austin Weiner - Cushman & Wakefield
The deal includes key individuals and companies such as the Redemptorist Fathers of New York acting as the landlord and Launch Expeditionary Learning Charter School as the tenant, which signed the lease to establish a new high school slated to open in fall 2027. The involved brokerage firms, OPEN Impact Real Estate and Cushman & Wakefield, facilitated the transaction with their team of representatives.
Players
Redemptorist Fathers of New YorkLandlord
Brooklyn Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Lease transactions
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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