Spring Education Group, a parent company of private school brands, has signed a 20-year lease for 34,500 square feet at the former Chelsea Art Museum building.
The group’s BASIS Independent Schools will occupy the entire three-story building at 556 West 22nd Street to serve students in grades 6 through 12.
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The owner of the building, Albanese Development, bought the property for $19.35 million at Chelsea Art Museum’s bankruptcy auction in 2010. Albanese did not return a phone message seeking comment.
Spring Education Group recently signed a 20-year lease for 62,737 square feet at 138 Willoughby Street in Brooklyn’s City Point mixed-use complex to create a BASIS Independent Schools campus for students from pre-K through grade 2.
“As our New York City private school campuses located on the Upper West Side and in Red Hook are reaching capacity, we are thrilled to be expanding and opening new campuses in both Chelsea and Brooklyn,” said Matt Dick, president of BASIS.
Both schools are set to open next fall.
Cushman & Wakefield’s Ron Lo Russo, Heather Thomas, Jay Stewart, Rico Murtha and Helen Paul represented Spring Education Group on the Chelsea deal. Jay Stewart, Murtha and Paul represented the group for the City Point deal.
Until recently, the Chelsea building was occupied by Hewlett Packard Enterprise, which recently moved out to take 17,945 square feet at SL Green’s 461 Fifth Avenue, according to Commercial Observer.