Bold Charter School Signs Condo Deal For New Facility to be Built in the Bronx
Real Estate In-Depth | April 4, 2023
NEW YORK—Bold Charter School has signed a long-term 81,590-square-foot condominium 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.
The deal was announced on April 3 by OPEN Impact Real Estate LLC and Transwestern Real Estate Services, which represented Bold Charter School in the transaction.
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., which was represented in the transaction by Nick Zweig of Locations CRE. The project team includes Promont (construction), KSS Architects and DBI Projects (project management).
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 students.
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.
“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.”
“Through an off-market search we were able to secure a purpose-built new home with an experienced developer and school design team,” said OPEN’s 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.”