College prep school takes 12,000 s/f in Herald Square

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Dana Moskowitz, Partner, and Jeffrey Zund, Head of Leasing
of Resolution Real Estate Partners LLC, a member of NAI Global, have arranged a
12,000 s/f lease at 45 West 34th Street for the Winchendon School, a private
college preparatory school headquartered outside Boston, MA.

The tenant will be relocating its New York City campus from
Brooklyn to Manhattan and expanding its footprint to encompass the building’s
entire fifth floor.

Resolution Real Estate Partners and Winchendon are also looking ahead to further expanding the Manhattan campus over the next several years.

45 WEST 34TH STREET

“Commensurate with a recovering market, this transaction
reflects flexibility on the part of both the landlord and the tenant,” said
Zund. “The landlord recognized a reputable, credit-worthy tenant and was
willing to provide customized renovations that conform to new environmental
protocols. The school immediately recognized the value of the space and the
building’s excellent location.”

Winchendon will be moving into a floor previously occupied by a trade school in which many classrooms and other educational spaces currently exist. In addition, the landlord, GFP Real Estate, will add significant upgrades, including a new tenant-controlled HVAC system, before the school takes possession of the space in August 2021.

Added Moskowitz, “Winchendon encourages students to use the
local community as their classroom. Convenient to fashion design houses,
creative agencies, law firms, tech and more, this area provides the perfect
canvas for adolescents through young adults to discover their passions.”

Moskowitz, and Zund represented the landlord. The tenant was
represented by the JLL team of William Korchak, Edward DiTolla, John Slattery,
and Henry Warner. The asking rent for the 10-year lease was
$48-per-square-foot.

“The Resolution Real Estate and JLL teams understood the
nuances of serving a college prep school and provided the right opportunities
to support our continued rapid growth,” said Sean Duncan, Head of School for
Winchendon – NYC. “Our new Herald Square location will make for much easier
access for many more New York and New Jersey families. It will also place our
students and faculty at the heart of some of the world’s finest research and
business centers.”

Located near Penn Station, Grand Central Station, and the
Port Authority, 45 West 34th Street is a 12-story prewar commercial building
featuring loft-style spaces with high-end finishes, open ceilings, and polished
concrete floors. The building’s attended lobby and common areas were recently
redesigned and renovated. New mechanical systems have been installed, together
with a complete modernization of all elevators.

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