RIPCO Real Estate is exclusively handling the sale of the community facility and parking garage condominium units at 97-29 64th Road in Rego Park, NY 11374. The offering totals ±45,602 SF in a nine-story mixed-use building in Queens completed in 2019. It includes a 35,070 SF charter school unit and a 10,532 SF, 90-space parking garage.

The Property comprises approximately 35,070 SF of community facility space spanning the ground floor through the third floor, together with a 10,532 SF, 90-space parking garage condominium unit. Units are located in a nine-story mixed-use building with residential and community facility components, completed in 2019 – the building’s 35 residential units are not included in the sale. The community facility unit is fully leased to Valence College Preparatory Charter School —The “premises” suggests the whole offering, but the garage is leased to a different tenant, a New York public charter school serving students in grades five through eight. The lease provides a 31-year primary term and is supported by a corporate guaranty from the operating school entity, with the remaining lease term extending through July 2051.

The Property offers investors exposure to a specialized, essential-use community facility asset occupied by a charter school, with New York State-supported school revenue, a long-term lease structure, corporate guaranty, and tax-advantaged ownership characteristics, complemented by additional income from the parking garage unit. Its location within a dense residential neighborhood further supports the school’s long-term presence and operations.

For more information or to schedule a property tour, please contact the exclusive brokers.