Leases  ·  Retail

Day Care Center Magic Moments Academy Inks Deal for 10K SF in Bedford-Stuyvesant


A day care center inked a deal for 10,000 square feet in Bedford-Stuyvesant, Brooklyn, for its third location, Commercial Observer has learned.

Magic Moments Academy signed a 10-year lease for the space on the ground floor of the apartment building at 1520 Fulton Street between Kingston and Albany avenues, according to a source with knowledge of the deal. Asking rent was $55 per square foot.

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The day care opened its first location in 2005 at 1078 Fulton Street, also in Bed-Stuy, and offers programs for infants to fourth graders, according to its website. It plans to move into its new outpost at 1520 Fulton in July, the source said.

Tri-State Commercial Realty’s Avi Akiva represented the landlord, Eli Karp’s Hello Living, in the deal. Victor Salem and Chandler Slate, also of Tri-State, represented Magic Moments. Akiva declined to comment.