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Avison Team Negotiates Staten Island Ground Lease for Charter School
An Avison Young team of principals Marty Cottingham and Michael Gottlieb, and associate Patrick Steffens arranged a long-term ground lease for Hellenic Classical Charter School (HCCS) at 1641 Richmond Ave. in Staten Island, a property owned by the Holy Trinity Greek Orthodox Community. HCCS plans to build a new school at this newly leased location that will total 36,000 square feet and house grades 3-8.
The Avison Young team also renewed the existing 23,000-square-foot lease for the existing HCCS school adjacent to the new one. The original 23,000-square-foot lease was signed in 2019.
The team negotiated for the school to expand its relationship with the Holy Trinity Community via this new long-term ground lease on a portion of the land adjacent to their existing building.
HCCS also was able to acquire $44-million bond financing from Build NYC to help cover the cost of construction of its new building.
- ◦Lease
