Eastern Consolidated has arranged a 15-year, 5,500 s/f retail lease for All My Children Day Care & Nursery School at 101 West 85th Street on the Upper West Side.
This is the second lease Eastern has negotiated on behalf of the school, which has 13 other locations throughout New York City
Exclusive leasing agent James Famularo, Senior Director of Retail Leasing for Eastern Consolidated, and Ravi Idnani, Associate Director, represented the tenant. The owner was represented by David Abrams of RKF.
The 19th Century brownstone property offers 25 feet of frontage on West 85th Street between Columbus and Amsterdam Avenues and was modified to comply with the city’s requirements for schools.
The space is located on the lower level of a 41-unit residential building and also includes a 1,200-square-foot outdoor garden.
“Last year, after finding All My Children Day Care & Nursery School a space at 110-112 Ridge Street on the Lower East Side, we began working diligently to identify additional locations in Manhattan, Brooklyn, and Queens,” Famularo said. “Because the tenant is a school, strict regulations set by the city’s Education, Health, and Buildings Departments required us to provide an enormous amount of support to the school and the owner in order to get this deal done.”
Idnani added, “Preschools and daycare centers are in high demand on the Upper West Side because of the density of families living in the neighborhood. As soon as an appropriate space becomes available in this area, these entities want to lease it.”
The population is over 25,000 within a quarter mile of the site, and the average household income exceeds $146,000. Neighboring tenants include Hands on Musical Center, New York Kids Club, Starbucks, and a popular restaurants.