Ornstein, Powers and Hines of Transwestern represent Zeta Charter Schools in 124,000 s/f lease

July 20, 2021 - Front Section

Manhattan, NY Transwestern Real Estate Services (TRS) represented Zeta Charter Schools in a 124,000 s/f transaction that will make it the sole occupant of 400 W 219th St., a planned eight-story building by Bolivar Development. Transwestern partners Lindsay Ornstein and Stephen Powers and senior vice president Thomas Hines provided tenant advisory services for Zeta Charter Schools.

Zeta Inwood is scheduled to open ahead of the 2023-2024 academic year and will serve students in pre-K through eighth grade. The new school will feature 33 classrooms and collaborative office space for teachers and staff. The campus will have multiple outdoor play areas, including a 10,000 s/f rooftop playground and a separate early childhood playground located on a lower floor setback, as well as an indoor basketball court. Numerous specialty rooms will support dance, yoga, Taekwondo, music and a Zeta Innovation Laboratory, or Z Lab, where Zeta students will learn through design thinking, hands-on experimentation and play. The site offers excellent access to public transportation.

“Zeta Charter Schools’ commitment to work through a three-and-a-half-year long search process is a wonderful example of their dedication to the continued service of NYC’s children,” said Ornstein. “Bolivar Development has been an ideal partner in the project. Their team’s acumen, financial resources and school experience made this entire project possible, from site purchase to design development in only six months.”

Zeta Inwood will be moving from its current location at 652 W 187th St. The Zeta Charter Schools transaction was structured to accommodate a phased-in occupancy strategy with a long-term tenancy. Transwestern previously represented Zeta in transactions for three schools in the Bronx, at 425 Westchester Ave., 1910 Arthur Ave. and 1475 Macombs Rd./1325 Jerome Ave.

“We are committed to serving children and families in Washington Heights and Inwood, ensuring that families have educational choice and access to excellent school options like Zeta schools,” said Emily Kim, CEO of Zeta Charter Schools. “Having the opportunity to work with ground-up construction ensures that we create, develop and provide the exceptional facility that the students and families of Washington Heights and Inwood deserve.”

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