Mandarin Immersion Preschool Headed to New Location in Tribeca
By Celia Young December 9, 2021 12:43 pm
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A Mandarin immersion preschool is saying ni hao (hello) to its new home in Tribeca.
Mandarin Seeds is relocating to 5,000 square feet at 52 Reade Street, between Broadway and Church Street, Commercial Observer has learned.
The school will move from its current Tribeca space at 23 Warren Street, according to its website and Newmark (NMRK), which represented the landlord, Sutton Management, in the deal. Asking rent was $75 per square foot in the 10-year lease.
“Preschools are in high demand in Tribeca because of the increasing density of families in the area,” Newmark’s Ravi Idnani, who represented the landlord with Andrew Stern, said in a statement. “The continued migration of families to Tribeca points to the area’s resilience and appeal for people of all ages.”
Located in the lower level of the building, Mandarin Seeds will offer full- and half-day immersion programs for children up to age 7, in addition to summer and after-school programs, according to its website.
The school’s new space in the 19-story office building, also known as 291 Broadway, was formerly occupied by Muay Thai gym The Wat, which left the space during the pandemic after being unable to come to an agreement on rent with the landlord, according to Newmark’s spokesperson. The property was refinanced in 2019 with $46 million from New York Community Bank, as CO reported.
The Corcoran Group’s Yuon Tai Bak represented Mandarin Seeds Preschool. A representative for Corcoran did not immediately respond to a request for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
