Zeta Charter Schools Acquires 95,000 SF in the Bronx
Transwestern Real Estate Services represented the organization in securing its third Bronx location.
NEW YORK CITY – Zeta Charter Schools has acquired two properties totaling 95,000 square feet, located at 1475 Macombs Rd. and 1325 Jerome Ave. in the Bronx.
Transwestern Real Estate Services represented Zeta Charter Schools in the transaction. Transwestern partner, Lindsay Ornstein, partner, Stephen Powers and VP, Thomas Hines additionally provided occupier solutions services for the organization.
The two adjacent buildings, will serve as Zeta Charter Schools’ third Bronx location as Zeta Bronx Mount Eden, a new pre-K through eighth grade school.
“Zeta Bronx Mount Eden will be our first school in Bronx Community School District 9,” states Emily A. Kim, Zeta Charter Schools’ CEO. “We look forward to bringing our innovative whole-child learning approach to children and families in central Bronx. We are excited to work within new construction, which allows Zeta to create a state-of-the-art facility that provides a tremendous environment in which to prepare children for leadership and true participation in a modern world economy.”
Zeta Bronx Mount Eden will launch in a phased opening, beginning at the start of the 2021-2022 school year.
Within the newly acquired space at 1325 Jerome Ave., 20,000 square feet will be occupied by Zeta Bronx 3’s pre-K through first grade programs, which is scheduled for completion in mid-2021. The entire 75,000-square-foot building at 1475 Macombs Rd. will be occupied by grades second through eighth, and will be completed in mid-2023.
The site, which is being developed by Bolivar Development, will additionally feature a playground and an outdoor soccer field.
“We are pleased to have found this unique opportunity for Zeta Charter Schools, with two adjacent development sites and the rare and coveted feature of outdoor space for a soccer field,” says Ornstein. “It provides Zeta the ability to open its doors much sooner through a phased-in approach and also creates a campus from which to support generations of learners in the Bronx community.”
The Zeta Charter School commitment was structured as a leasehold condominium, to offers savings through the organization’s non-profit tax-exempt status.
Transwestern previously represented Zeta Charter Schools in the acquisitions of 425 Westchester Ave. and 1910 Arthur Ave., for two additional Bronx schools.