Prep School Inks Deal at Trump Organization’s Wall Street Building
The Quad Preparatory School, a college preparatory school for intellectually gifted children with disabilities, will relocate to 25 Pine Street between Wall and Liberty Streets.
The school has inked a 10-year, 38,825-square-foot sublease for the entire fourth floor of the 72-story building. This space currently is leased to the Green Ivy School, a technology-focused school.
Marc Shapses and Seth Wasserman of Savills Studley represented the tenant in a direct deal with the sub-landlord. A spokeswoman for Savills declined to provide the asking rent.
“[The building] provided everything that Quad Prep was looking for: modern, fully built-out classroom space, administrative offices and project rooms, all without any additional capital expenditure, making it a win-win for them,” Shapses said in prepared remarks.
The Trump Organization building, which is also called 40 Wall Street, is not new to educational spaces like Quad Prep. Other tenants include a PK-5 school Pine Street School and City School of the Arts, a charter middle school with an arts focus.
Quad Prep is currently at 325 East Sixth Street between First and Second Avenues. The K-12 school has more than 50 students and is forecasted to fully grow into its new space in 2020, according to the press release.
