First dance studio to move downtown post-9/11 reaches rent deal

June 01, 2012 10:00AM

A non-profit dance studio that answered the city’s calls to move to Lower Manhattan from Soho after the Sept. 11 attacks has struck an accord to keep its 280 Broadway location, the Wall Street Journal reported. Dance New Amsterdam was encouraged to move into the new space as part of the city’s revitalization plan for the area, and was given $4 million in taxpayer money from 2004 to 2007 to renovate the 25,000-square-foot space.

But by 2010 the theater faced eviction as its arrears exceed $500,000 thanks to an expensive lease that was to eventually reach $90,000 per month. After a lengthy struggle, the theater has reached an agreement with landlord Fram Realty that lowers its monthly rent, real estate taxes and rent arrears.

“To Fram’s credit, they were open to all of the different solutions,” said State Sen. Daniel Squadron, one of several officials encouraging negotiations. “They deserve credit here—and DNA does for being creative and dogged.” [WSJ]