(April 3, 2023 – New York City) – OPEN Impact Real Estate LLC (OPEN) and Transwestern Real Estate Services announce that they have represented Bold Charter School in a 81,590-square-foot transaction for the ground-up construction of a build-to-suit school to be located at 1472 Boston Road in the Crotona East Park neighborhood of the Bronx.
Lindsay Ornstein and Stephen Powers, founders, and Casey Noel, vice president, of OPEN and Thomas Hines, senior vice president at Transwestern represented Bold in the 39-year leasehold condominium transaction. The property is owned by 1472 Boston Partners LLC.
“1472 Boston Road advances our mission of building world-class public schools and delivers on our commitment to achieving extraordinary in everything we do,” said Andrew Foglia, Founder and Executive Director, Bold Charter School. “We’re thrilled to create a learning environment worthy of our families’ aspirations and our students’ futures.”
The new school at 1472 Boston Road will be Bold’s first permanent location and will welcome students from its two nearby temporary facilities at 1093 Southern Blvd. and 1090 Close Ave. The school is expected to open for the 2025/2026 academic year and will serve K-8 students in School District 12, with the capacity to support approximately 810 learners.
When complete, the new school will consist of eight stories, with Bold as the building’s sole occupant. The state-of-the-art school will have 27 classrooms, a full-size gymnasium, cafeteria, abundant windows to create a bright learning environment, and outdoor rooftop play space. The new school location is accessible by students, parents and staff by public transportation, with the 2 and 5 subway lines and multiple bus stops close by.
“Through an off-market search we were able to secure a purpose-built new home with an experienced developer and school design team,” said Powers. “After helping Bold secure an incubation space on Southern Blvd., it was critical that their long-term home continue to serve these families as the school continues to grow with its students.”
1472 Boston Partners was represented in the transaction by Nick Zweig of Locations CRE. The project team includes Promont (construction), KSS Architects and DBI Projects (project management).
About Bold Charter School
Our mission is to build world-class K-12 public schools that graduate students who are accomplished both intellectually and personally, and prepared to realize their highest potential as individuals and engaged citizens. We are innovating a knowledge-driven public education model that builds within students both breadth and depth of knowledge – and the foundation needed to develop as sophisticated thinkers and communicators. For more information, please visit www.boldschools.org or follow us on social media.
About OPEN Impact Real Estate LLC
OPEN Impact Real Estate (OPEN) is a woman-owned business that delivers a comprehensive range of commercial real estate brokerage and advisory services, with a focus on supporting social-minded, mission-driven organizations. Based in New York City, OPEN serves clients across the United States, particularly those that value the benefits of working with an M/WBE with deep expertise in furthering mission through physical space. OPEN is an affiliate of Transwestern Real Estate Services. For more information, please visit www.openregroup.com.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
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