NEW YORK—Basic Trust Preschool has paid $3.8 million to acquire 127 West 94th Street, a four-story townhouse containing 5,541 sq. ft. of space. David Lebenstein, senior managing director, principal, of Cassidy Turley, represented the buyer, and Hall Oster, first VP of sales at Massey Knakal, represented the seller, the Mandell School, which has owned the property since 1939.
Equipped with outdoor play space, 127 West 94th Street will serve as a new location for Basic Trust, which is planning to relocate to the location when the current tenant’s lease expires in 2015. The property includes recently renovated classrooms, outdoor recreation and garden area.
Basic Trust is a nonprofit childcare center for infants, toddlers and preschool children.
“After working with Basic Trust for almost a decade, it is such a joy to see this great organization find a permanent home that is not only in the desired neighborhood, but also requires minimal capital investment,” said Lebenstein.