The YDE School of 49 Avenue T in Gravesend is picking up and moving to 2533 Coney Island Avenue in Sheepshead Bay.
In a report by Commercial Observer, YDE, a private Jewish school, has leased out a plot of land in a space previously occupied by a Ford Dealership and repair shop for the past 40 years.
The location features a 25,000 square foot one story building and a 25,000 square foot parking lot. The rarity of a deal involving so much space and potential was noted by the deal’s broker,
It is unusual for a 50,000-square-foot plot with tremendous air rights and development possibility to come available in Brooklyn like this,” said Zach Mishaan, a senior managing director at WinickRealtyGroup and broker on the transaction, in a prepared statement. “They have unlimited development rights that they can enjoy over the entire term of the lease and the site will offer them tremendous growth potential for years to come.”
YDE plans to open the school in 2013, starting it off as a high school, but eventually expanding it to all grades. They hold a 30-year lease on the property.