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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.


Inside The Story

Connect With Avison Young’s Cottingham

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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