Robert Khodadadian – Commercial Observer

Great Oaks Charter School snagged 39,064 square feet at 240 Bleecker Street in Greenwich Village and will relocate from 38 Delancey Street.

The charter school signed a 20-year lease with the Archdiocese of New York to take over the space from grammar school Our Lady of Pompeii Church, which moved to 25 Carmine Street, according to the tenant broker JLL. JLL declined to disclose asking rents. 

The school, which is targeting the summer of 2023 to have the site off the ground, plans to invest $5 million in the building with financing from BlueHub Capital, which specializes in serving nonprofits, according to a source with knowledge of the deal.

Great Oaks — which also has campuses in Newark and Baltimore — opened its Delancey Street school in 2013. Thomas Duffy, president of Great Oaks Foundation, said its new space “will enable us to contribute to the vitality of the neighborhood by attracting and creating social, human and investment capital through our pioneering education programs.”

JLL’s Joseph Messina, Matthew Astrachan, Daniel Posy, Jessica Berkey, Peter Michailidis and Zachary Azus represented the school, while Beatrice Sibblies and Thomas Vitiello of BOS Development brokered the deal for the Archdiocese of New York. Sibblies did not immediately respond to a request for comment.

“[Great Oaks] is one of the city’s top public charter schools, and it will now have the space it needs to grow in a neighborhood rich in cultural diversity and surrounded by easy transit options and lively retail,” Messina said in a statement.

Mark Hallum can be reached at mhallum@commercialobserver.com.

Great Oaks Charter School snagged 39,064 square feet at 240 Bleecker Street in Greenwich Village and will relocate from 38 Delancey Street. The charter school signed a 20-year lease with the Archdiocese of New York to take over the space from grammar school Our Lady of Pompeii Church, which moved to 25 Carmine Street, accordingRead MoreChannel, Leases, Office, 2450 Bleecker Street, Archdiocese of New York, BlueHub Capital, Great Oaks Charter School, JLL

Robert Khodadadian, skyline properties, ground leases

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