Private school Ecole Internationale de New York inked a 30-year lease for 15,000 square feet at a five-story Flatiron District building operated by the Gural family.
Asking rent for the space was $60 per square foot, Crain’s reported. Jones Lang LaSalle broker Sean Black represented the tenant. David Wexler, head of watch brand Tourneau, owns the building at 206 Fifth Avenue, between 25th and 26th streets. The Gural family leases the entire site, and recently extended for 75 years at the time of the lease talks with the school. Eric Gural, co-founder of Newmark Grubb Knight Frank, told Crain’s his family intends to kick off a $500,000 renovation of the building.
Tuition at the K-to-12 school is roughly $28,000 per student. The school’s current location is 111 East 22nd Street. [Crain’s] — Mark Maurer