Junior Achievement of New York Secures 10K-SF Lease at 230 West 38th Street
By Amanda Schiavo October 31, 2024 1:30 pm
reprints
Junior Achievement of New York has inked a 10,035-square-foot lease at 230 West 38th Street in Manhattan.
The nonprofit, a local affiliate of Junior Achievement, plans to use the entire second floor of the building as a learning center where it will specialize in teaching kids and teens about economics and entrepreneurship, according to CBRE (CBRE), which helped broker the deal on behalf of the tenant.
CBRE declined to provide the specific length of the lease, only saying it was a “long-term” deal. CBRE did say asking rent for the space was $38 per square foot.
“We were able to negotiate a lease that provided Junior Achievement of New York with a permanent home and the perfect space from where the nonprofit could offer its amazing training programs to the greater NYC area public school students,” CBRE Senior Vice President Paul Walker, who brokered the deal for the tenant, said in a statement. “The ownership recognized Junior Achievement’s long history of service to the community and made an extra effort to ensure the deal met their needs and went very smoothly.”
The building’s owner, Rosen Equities, was represented in the deal by Daniel Breiman of Olmstead Properties. Breiman did not respond to a request for comment.
The 18-story 230 West 38th Street, which is between Seventh and Eighth avenues and also known as Bricken Arcade, was constructed in 1928, according to CBRE. Since then the property has been completely renovated with additions including new automatic passenger elevators, a fully redesigned lobby and new windows.
Other tenants occupying 230 West 38th Street include clothing retailers Vigoss, Exquisite Apparel and equestrian outfitter The Tailored Sportsman.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
