Ground-Up Construction Will Offer World-Class Education Opportunities for Students
July 01, 2021
New York City – Transwestern Real Estate Services (TRS) announces that it represented Zeta Charter Schools in a 124,000-square-foot 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.
“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.”
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-square-foot 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 New York City’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 Road/1325 Jerome Ave.
Transwestern has extensive experience helping nonprofits of all sizes minimize occupancy costs and capitalize on the tremendous savings uniquely available to tax-exempt organizations. The Transwestern Nonprofit Advisory Services Group starts every project from a mission and program perspective and then uses that understanding to build a real estate solution that addresses key considerations for nonprofits, including tax-exempt status, deal structure, space needs, board consensus, fundraising and financials.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
About Zeta Charter Schools
Zeta Charter Schools’ mission is to build and sustain high-performing schools that forge thriving communities of lifelong learners, problem solvers, and innovators. Zeta Charter Schools currently has four world-class NYC elementary schools, three in the Bronx and one in Upper Manhattan. For more information, please visit www.zetaschools.org and @ZetaSchools on Instagram or Facebook.