Gemini Rosemont buys third parcel on 2nd Avenue for future development

As expected, Gemini Rosemont Development bought the former La Salle annex at 38 Second Ave. and Second Street.

The $14.5 million purchase of the four-story building — announced yesterday — is the third of three contiguous parcels between Second Street and Third Street acquired by the firm this year for future development. Gemini Rosemont closed on 42-44 Second Ave. and 46-48 Second Ave. (the former Church of the Nativity) in March for $40 million.

The total lot area of the assembled site is 14,075 square feet, according to city records. The combined development site can accommodate an as-of-right buildable area of 75,908 square feet and up to 101,210 square feet of residential area under the city's Inclusionary Housing Program.

Development plans have not been made public. Meanwhile, demolition permits have already been filed for the former Church of the Nativity and the adjacent building.



La Salle purchased the Annex property in 1966 to provide additional space for its large population of students during that era. Since 2010, the Annex served as the home of the Brothers' Community that was associated with the school and provided office space for some members of the school's administrative staff.

According to a press release on the sale, proceeds are earmarked for school's endowment.

A significant portion of the proceeds from the sale are earmarked for La Salle Academy’s endowment fund, boosting the school’s financial stability and its ability to meet the growing needs of the segment of its student population who require tuition assistance. La Salle Academy, which currently occupies the top three floors of St. George’s Ukrainian School on East Sixth Street off Second Avenue, will continue to operate at its present location.

Brother Thomas Casey current president of La Salle Academy, remarked enthusiastically, "This sale will benefit La Salle students far into the future."

La Salle Academy's former school building and Brothers' Residence on Second Street, which is currently leased by the Nord Anglia International School, are not included in the transaction.

The Church of the Nativity closed after a service on July 31, 2015, merging with Most Holy Redeemer on Third Street.

As previously reported, the Cooper Square Community Land Trust had explored buying the former Church of the Nativity to use as low-income housing.

As for the future of 38-48 Second Ave., the Gemini Rosemont website notes that they look to rent to "tenants in high growth and tech centric industries."

Looking at an elementary school that costs $31,900 annually on East Second Street

[Rooftop rendering via the World Class website]

Back in July 2010, we had a post about the World Class Learning Academy taking over the LaSalle Academy space on Second Street and Second Avenue. As we learned, tuition for the U.K.-based independent school (for ages 3 to 11) could go as high as $32,000.

Anyway, the school opened back in September ... yesterday afternoon, Business Insider dropped a feature about the school. Abby Rogers reported how the older kids are learning about chocolate. They have a tasting day. The students will also visit a local chocolate maker and learn about chocolate-related issues, such as fair trade.

"That's what really sets us apart from everybody else," Headmaster John Taylor said when discussing the school's unique take on learning.

As Business Insider noted, students in kindergarten through fifth grade pay $31,900 in tuition annually. There's also a $50 application fee and a one-time $2,000 "new student" fee.

Anyway, in case you want a look inside the school, there's a slideshow here.

Previously on EV Grieve:
Blimey!: World Class Learning Academy takes over La Salle Academy space on Second Street

New school in East Village will cost upwards of $31,000 annually

As you may have heard, the World Class Learning Academy is taking over the LaSalle Academy space on Second Street and Second Avenue... It's a U.K.-based independent school (rich kid's school) for ages 3 to 11. (The old LaSalle space is currently getting spruced up...)

An EV Grieve reader asked if I had seen the tuition for the school.

I had not.

Tuition for 2010/2011 School Year, payable in two installments:

Foundation Stage 1 (Pre-K 3/Nursery), Half Day: $14,000

Foundation Stage 1 (Pre-K 3/Nursery), Full Day: $22,500

Foundation Stage 2 (Pre-K 4/Reception): $25,500

Years 1-6 (Kindergarten-Grade 5): $31,900

Noted the reader: "It's like a pre-K for NYU Dubai."

By the way, LaSalle, which has had 160 years of presence on the Lower East Side, is moving into part of St. George Ukrainian Catholic School on Sixth Street.

Previously on EV Grieve:
Blimey!: World Class Learning Academy takes over La Salle Academy space on Second Street

Blimey!: World Class Learning Academy takes over La Salle Academy space on Second Street

Crain's reports that the World Class Learning Academy — a U.K.-based independent school for kiddies age 3 to 11 — is taking over the La Salle Academy space on Second Street and Second Avenue. According to Crain's, "It will be the group’s sixth outpost in the U.S. and the first in New York. Its other American locations are in Boston, Charlotte, N.C., Chicago, Houston and Washington." The school opens in September.

And what will become of LaSalle, a Catholic boys school? They'll be moving into part of St. George Ukrainian Catholic School on Sixth Street.

Here's the happy-faced news release from LaSalle:

La Salle 6th Street is Born!
One of New York City’s oldest and most respected Catholic school secures its future on the Lower East Side.

La Salle Academy, an award-winning Catholic high school with over 160 years of presence in New York City’s Lower East Side, is expanding its educational programs to 6th Street, where they will be sharing space with St. George Ukrainian Catholic Schools, another historic neighborhood institution. The two schools will coexist in one building, but remain two completely distinct institutions. La Salle will also remain, in part, on the corner of 2nd Avenue and 2nd Street, in a building that will house an alumni center, administrative offices, a residence for the Brothers, and various rooms for student use.

The relocation comes after years of planning by the school administration and Board to address challenges that face inner-city Catholic education, including increased operating costs and decreased enrollment.

“With so much news about Catholic schools struggling, I’m delighted to state here and now that La Salle Academy will continue to provide its exceptional college preparatory education on the Lower East Side for generations to come,” said Dr. William Hambleton, the school’s president.

I knew money was tight for La Salle when they accepted a wrap-around ad for their building.