Ippolito of Newmark Knight Frank leases 77,148 s/f to The League; Kamenetsky of CBRE reps owner, GFI Development Co.

Newmark Knight Frank has completed a lease transaction that will enable The League Education and Treatment Center to expand its preschool and day treatment programs for children and adults with psychiatric and developmental disabilities. The center's new, 77,148 s/f home at 470 Vanderbilt Ave. will soon welcome students, adults and their families for education and therapies. Newmark Knight Frank's Paul Ippolito conducted a search to help The League's directors make an educated choice from among location options. The property at 470 Vanderbilt is part of a redevelopment on the site of a former tire factory that most recently served as a telecom hotel. The League will relocate from its existing building at 30 Washington St., in the DUMBO neighborhood, with assistance from the New York State Office for People with Developmental Disabilities (NYS-OPWDD), which is providing financial assistance to finish out the space. The League's attorney, Kenneth Friedman of Haynes and Boone, LLP, helped to work out details of the lease agreement. Gary Kamenetsky of CB Richard Ellis represented the owner, GFI Development Co. "At The League, every child and adult is a success story waiting to begin. Our mission is to discover and nurture each individual's personal strengths and abilities. Our programs reflect the belief that everyone deserves the opportunity to succeed in school, in program, in the community and in life," said Hannah Achtenberg Kinn, the CEO at The League. "We are grateful to those who assisted in making this all happen." The League serves more than 100 preschool children and 150 adults daily at its Washington St. location, but the lease on that 51,000 s/f space has expired and the landlord has other plans for the site. The move to 470 Vanderbilt will provide needed room to increase the number of children and adults at the school to 300 or more, according to Aron Bukspan, director of development at The League. "We were bursting at the seams," said Achtenberg Kinn. "The two-floor layout of the new location will allow The League to group its children's programs on the third floor and adult classes and therapy space on the second floor." The center will be optimally designed, offering state-of-the art-technology and equipment. Plans also include a rooftop playground and a dedicated entrance to the center, which will be one of several tenants at the property. The League Education and Treatment Center is a 501(c)(3) non-profit and internationally recognized agency for evaluation, treatment and education of children and adults with psychiatric and developmental disabilities, including autism. To learn more, visit http://www.leaguecenter.org. Newmark Knight Frank is one of the largest real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank together operate from more than 240 offices in established and emerging property markets on five continents. With a combined staff of more than 7,000 and revenues last year exceeding $993 million, this major force in real estate is meeting the local and global needs of tenants, owners, investors and developers worldwide. For further information, visit www.newmarkkf.com. Newmark Knight Frank is a part of BGC Partners, a leading global brokerage company primarily servicing the wholesale financial markets. For further information, visit www.bgcpartners.com.