1910 Arthur Ave.
NEW YORK CITY- Zeta Charter Schools has announced it is leasing 65,000 square feet at 1910 Arthur Ave. in the Bronx for its new elementary school called Zeta Bronx Tremont Park Elementary. The pre-K through fifth grade school is scheduled to open August 2021 for the 2021-2022 academic year. Transwestern Real Estate Services represented Zeta Charter Schools in the transaction.
Utilizing the organization's tax-exempt status, the Zeta Charter School commitment was structured as a leasehold condominium deal between the building owners of the Joyland Group, who was represented internally.
Transwestern provided Occupier Solutions services for Zeta Charter Schools. Prior to this deal, Transwestern also represented the school in its 98,000-square-foot deal at 425 Westchester Ave. in the South Bronx for Zeta Bronx 1, which is also expected to open for the 2021-2022 academic year.
"We are thrilled to have found a home in Bronx Community School District 12, where there is incredible need and demand for high-quality charter seats," said Emily Kim, CEO of Zeta Charter Schools, in a prepared statement. "This building will enable Zeta to provide a world class, next-generation charter school to hundreds of children in the Central Bronx. The current COVID-19 crisis presents a challenging time for all of us, and especially underserved families in the Bronx. We feel deeply grateful for this incredible opportunity to serve even more families and provide students in the Bronx with a high-quality school that they deserve."
After a nearly year-long site search, the Zeta Charter Schools and Transwestern team chose 1910 Arthur Ave. for its central location, proximity to public transportation and ability to accommodate a phased-in occupancy strategy as Zeta Bronx Tremont Park Elementary grows. The nine-story building formerly served multiple tenants, primarily medical offices. In addition to the light-filled floorplate, the building offers fitness options for the students with Tremont Park across the street and plans to utilize the building's rooftop for additional play space.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
