Lipinski, Kucha and Schindler of Cassidy Turley lease 41,500 s/f to AiNYC; Campus Apartments to manage on behalf of landlord, GC Livingston LLC

According to Cassidy Turley, The Art Institute of New York (AiNYC) has signed a five-year lease for the entire 41,500 s/f building at 67 Livingston St. The 26-story building, built in 1987 and located in Brooklyn Heights, will allow AiNYC to consolidate in one facility from other locations in Brooklyn and Manhattan, all students requiring housing. The building will accommodate 182 students. "AiNYC charged the Cassidy Turley team with securing a site that met its economic objectives and that could accommodate in one facility all AiNYC students desiring housing, in addition to being convenient to its main campus in Tribeca, and professionally managed, "said Neil Lipinski, senior managing director, principal at Cassidy Turley, who brokered the lease. "At 67 Livingston we were able to deliver on all of the School's requirements. The students who have already taken occupancy are enjoying the newly carpeted and painted rooms, the new fitness center and new flat-screen TVs in every room," said Lipinski. Also assisting Lipinski was Tim Kucha, VP, and Jonathan Schindler, managing director and principal. Campus Apartments will be managing the property on behalf of the landlord, GC Livingston LLC. Lipinski said, "The most gratifying aspect of completing this assignment was that this building was not on anyone's radar. In fact, the previous tenant was still in occupancy so we had to arrange a staggered move-in." "After a 12-month search, we are pleased to have secured a facility at an optimal price point, with amenities required by today's students and in a location that enhances their 'student life' experience in New York City," said Kucha. Joe Pirrello, dean of student affairs at The Art Institute of New York City said, "As we enter the fourth year of school-sponsored housing, it's exciting to have this new facility that will house our students exclusively. We look forward to being a valued member of this dynamic Brooklyn neighborhood." "We are elated to welcome The Art Institute of New York City, a tenant of the highest caliber, to Brooklyn's preeminent student housing facility at 67 Livingston St." said Martin Ben-Dayan, principle at Glory Capital, the property's owner. "We look forward to providing the same first class, high quality experience that has allowed us to successfully service tenants such as New York University and others over the years."