Manhattan Children’s Center (MCC), a school that provides scientifically-based treatment and education to children with Autism Spectrum Disorders (ASD), is set to open at 100 West 93rd Street.
RKF announced that it has arranged the $16.5 million sale of the 19,008 s/f commercial condominium on behalf of the buyer Coltown Properties, a privately held, New York-based real estate company founded by Israel Weinberger, Steven Neuman and Jonathan Weinberger.
The brokerage subsequently arranged a lease at the property for MCC.
RKF’s senior associate David Abrams and senior managing director Marc Finkel represented the buyer, Coltown Properties LLC, in the acquisition, while Michael Dubin of Savvit Partners represented the seller, Starrett Development.
Abrams and Finkel subsequently represented both the landlord and MCC in the leasing transaction.
Located steps off Columbus Avenue and West 93rd Street, the two-story property is comprised of approximately 13,834 s/f on the ground floor and 5,174 s/f on the second floor.
According to Abrams, the move will allow MCC to expand its footprint in Manhattan in anticipation for new enrollment and additional programs.
The school, which is currently headquartered at 124 West 95th Street, plans to consolidate its three locations into one central facility, which is expected to open in spring 2016.
“This was a strong acquisition for the buyer, who has already seen additional value from the asset since this sale was finalized, as the Upper West Side market continues to strengthen,” said Abrams.
“It was important for MCC to remain in the same neighborhood for their flagship location, with easy access to transportation for its staff, parents and students, minimal operational disruption, and proximity to neighboring schools like The Mandell School, with whom MCC shares co-learning programs.”
