Avenues World Holdings, which operates Avenues: The World School in Chelsea, inked a deal to renew and expand its nearby office space to more than 24,000 square feet.
The for-profit private school, which cost $85 million to develop and launch, occupies the 16th and 17th floors of the 21-story property at 11 East 26th Street in the Madison Square North Historic District, the Wall Street Journal reported.
The 10-story school at 259 10th Avenue opened in 2012 with classes for 12 grade levels. The plan is to reach 15 grade levels by next year.
James Buslik of Adams & Co. represented Avenues and the landlord, East Twenty Sixth Associates. Asking price for the space was $68 per square foot.
Avenues is also close to a deal to expand its campus at 540 East 26th Street. The school has served as a major draw for families flocking to the neighborhood. The proximity of a 53-foot-wide townhouse at 434-436 West 22nd Street to the school was the catalyst for a $13.5 million home sale last year, as TRD reported. [WSJ] — Mark Maurer