Early Intervention Provider Genius Therapy to Open 11K-SF Outpost in Soundview
By Abigail Nehring June 4, 2024 4:55 pm
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Bronx-based early intervention agency Genius Therapy School will set up shop at a new location in Soundview later this year.
Genius Therapy signed a 15-year lease for 11,000 square feet on the first and second floors of 1451 Westchester Avenue, a retail building between Bronx River Avenue and Colgate Avenue that is undergoing redevelopment, according to broker Ripco Real Estate.
A spokesperson for Ripco did not disclose the asking rent, but asking rents in other retail listings posted on LoopNet within the same ZIP code range from $19 to $33 per square foot.
Landlord 1451 WA, a limited liability company with a mailing address in Somerset, N.J., purchased the two-story building in 2019 for $3.3 million and filed permits earlier this year to begin a renovation estimated to cost $470,000, according to city records.
The owner plans to rent the remaining retail units to medical tenants when the work is complete sometime this year, according to the New York Business Journal, which first reported the deal.
Genius Therapy is one of 230 agencies the city’s Department of Health and Mental Hygiene hires to provide early intervention services including speech instruction, occupational therapy and behavioral evaluation to children with developmental delays. It has an administrative office at 860 Melrose Avenue in the Bronx, according to its website.
The agency will keep its current offices and open a new location at the Westchester Avenue outpost, according to Ripco, whose Michelle Abramov, Greg Batista and Scott Rothstein brokered both sides of the deal.
Abramov, Batista and Rothstein were not immediately available for comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
