Day Care Operator Inks 21K-SF Lease in Brooklyn’s Gravesend

A new Ukrainian day care, Ukrainian New Generation Kids Daycare, has signed a 21,000-square-foot lease at Yakov Ostrovsky‘s 1940 Shore Parkway in Gravesend, Brooklyn.

The day care center is expected to open in the entirety of the four-story commercial building in the second quarter of 2027, and will be able to accommodate 300 children, according to Ripco Real Estate, which represented both the landlord and the tenant in this deal. 

The length of the lease was not disclosed. The asking rent was $40 per square foot. The space had been vacant for over a year, Ripco noted, but the firm secured the day care lease within six months of getting the listing. 

“The size of the space and the specialized requirements of a day care operator presented challenges throughout the process, but we worked closely with both sides to navigate them and structure a deal that made sense for everyone,” Richard Zagranichny, associate broker at Ripco, said in a statement. “The tenant’s local presence and plans to expand into the day care industry made it an especially compelling opportunity for the property.”

Zagranichny worked alongside Richard Senior, executive vice president at Ripco, to secure the deal.

“Guiding a first-time day care operator through a 21,000-square-foot lease required a collaborative approach and close coordination between the tenant and landlord,” Senior said in a statement. 

Brooklyn’s racially diverse Gravesend neighborhood and nearby Brighton Beach contain some of New York City’s highest populations of foreign-born residents, including large numbers of people with Ukrainian or Russian roots.

Located between 26th Avenue and Bay 44th Street just north of Coney Island, 1940 Shore Parkway can be found along the Belt Parkway and Bay Parkway Exit. The property includes a rooftop terrace. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.