Charter school inks lease for FiDi office

Uncommon Schools signs up for 42,000 square feet at Rudin’s 55 Broad Street

Jan.January 27, 2020 11:30 AM
Rudin Management's Bill Rudin and 55 Broad Street (Credit: Getty Images and Google Maps)

Rudin Management’s Bill Rudin and 55 Broad Street (Credit: Getty Images and Google Maps)

A nonprofit that runs more than 50 charter schools in the Northeast signed a lease for a new office in the Financial District.

Uncommon Schools inked a deal to take nearly 42,000 square feet at Rudin Management’s 55 Broad Street, sources told The Real Deal. The 15-year lease covers the second and third floors at the 30-story tower.

Asking rent for the space was $48 per square foot.

A spokesperson for Rudin declined to comment and a representative for Uncommon Schools did not respond to a request for comment.

Rudin vice president of commercial leasing Kevin Daly represented the landlord in-house. Eric Siegel, Wayne Siegel and Daniel Lolai of LSL Advisors represented Uncommon Schools along with Brian Siegel of TLG.

Wayne Siegel declined to comment.

Uncommon Schools lists its current address as care of the Robin Hood Foundation, which funds the charter school operator, at 826 Broadway in Greenwich Village. It wasn’t clear if Uncommon Schools has other office locations in the city.

The nonprofit was founded in Newark in 1997 and has expanded to other cities in New Jersey, New York and Massachusetts.

The Rudin family developed the 425,000-square-foot 55 Broad Street in 1967 and last year completed a renovation that included a new lobby. Tenants at the building include the International Brotherhood of Teamsters Local 210 and the Center for NYC Neighborhoods.

Rudin refinanced the property in 2016 with a $60 million loan from State Farm.

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