NEW YORK—The YDE School has signed a 30-year lease to occupy 2533 Coney Island Ave. The private school will move its facilities to the new space with a plan to open at the start of the 2013 school year.
Winick Realty Group LLC’s Senior Managing Director Zach Mishaan represented the tenant. Brian Hanson, director of sales, and Ben Fox, executive vice president of retail leasing at Massey Knakal, represented the landlord.
The one-story, 25,000-sq.-ft. building located at 2533 Coney Island Ave. sits next to an additional 25,000 sq. ft. of space, which can be used for parking and future development.
Currently, the YDE School serves more than 400 children. It will start out in its new space as a high school and has plans to grow to include kindergarten through 12th grades.
“It is unusual for a 50,000-square-foot plot with tremendous air rights and development possibility to come available in Brooklyn like this,” said Mishaan. “They have unlimited development rights that they can enjoy over the entire term of the lease and the site will offer them tremendous growth potential for years to come.”