The Learning Experience to Open Second Williamsburg Location
It takes a village to raise a child or, in this case, a condo building.
Early childhood education center The Learning Experience inked a 15-year, 12,250-square-foot deal to become the second retail tenant at Northlink Capital’s 510 Driggs Avenue condo development in Williamsburg, Brooklyn, Commercial Observer has learned.
Asking rent was $165 per square foot for The Learning Experience’s 3,915-square-foot ground-floor space and $60 per square foot for its 8,335 square feet in the basement, according to Verada’s Brendan Thrapp and Nathaniel Mallon, who brokered the deal for the landlord.
The Learning Experience will move into the five-story building in six months, joining the dog-friendly cafe Boris and Horton at the property, Thrapp said. Its new location between North Eighth and North Ninth streets will be The Learning Experience’s second in Williamsburg and one of its 11 sites across New York City — and Brooklyn has plenty of room for more child care, Thrapp said.
“For the development, our target was really community and family-friendly concepts given its location and the demographic shifts in Williamsburg over the past few years, with tremendous growth for young families,” Thrapp said. “[The] building primarily sold to young families with one to three kids, so it was a really good fit.”
Northlink spent $72 million to build the luxury condo project after acquiring the then-empty development site for $27.8 million in 2017, and expects to complete work at the end of the month.
The Learning Experience’s Nick Vanella brokered the deal in-house for the tenant. The center did not immediately respond to a request for comment.
Celia Young can be reached at firstname.lastname@example.org.