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New York City’s biggest charter school chain is expanding the size of its Financial District headquarters, Commercial Observer has learned.
Success Academy Charter Schools signed an expansion and renewal for 94,000 square feet on part of the third floor and the entire fourth, fifth, and sixth floors of Silverstein Properties’ 120 Wall Street in November, according to a source with knowledge of the deal.
Asking rent was in the mid- to high $60s per square foot, the source said.
The exact size of Success Academy’s original footprint in the 35-story Art Deco building is unclear, but it had 55,000 square feet in 2021, according to The Real Deal.
The nonprofit charter network was founded in 2006 and is headed by Eva Moskowitz. It operates 56 independent public schools across the five boroughs, according to its website.
In 2013, Success Academy signed a 15-year lease to open an office at 120 Wall Street, also known as 95 Pine Street, which serves as its headquarters, according to its website and a federal grant application last year.
The building near the East River waterfront is home to several other nonprofit tenants, many of which benefit from a real estate tax abatement from the city. These include amfAR, The Foundation for AIDS Research, global women’s advocacy organization Catalyst and intercultural exchange program AFS-USA.
A spokesperson for Success Academy did not respond to a request for comment, and a spokesperson for Silverstein declined to comment. It’s unclear who brokered the deal.
Abigail Nehring can be reached at anehring@commercialobserver.com.
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