“When I dare to be powerful—to use my strength in the service of my vision—it becomes less and less
important whether I am afraid.”
AUDRE LORDE
Social Enterprises and Nonprofits
Assisting Education Nonprofits With Real Estate Needs
New Jersey Community Development Corporation (NJCDC) has been a valued and impactful client of the firm for many years. We previously helped the organization rescue a preschool and affirm tax-exempt status for a subsidiary of the organization.
When NJCDC sought assistance with purchasing a nearby middle school, our Real Estate group enthusiastically agreed to assist with this new transaction. NJCDC, which founded the Community Charter School of Paterson in 2008, has a longstanding commitment to providing quality education to Paterson youth. Three years ago, the 400-student middle school relocated to a building leased from a private landlord across the street from the elementary school. When the landlord indicated that he wanted to sell the middle school building to NJCDC, the organization jumped at the opportunity to purchase the property and lease the building back to the school.
Photo courtesy of New Jersey Development Corporation
Firm volunteers negotiated an agreement of sale for the school property and worked through preliminary underwriting for bond financing for the purchase. Volunteers also helped NJCDC negotiate fair lease terms with the school. Thanks to these efforts, the purchase was finalized and ensured stability for the school’s staff and students.
We also had the opportunity to assist Urban Dove , a nonprofit that runs schools that enrich the lives of New York City’s at-risk youth by creating a supportive, positive environment where children and teenagers who have fallen off track can develop the life skills and confidence they need to reach their full potential. The school serves over-age and under-credited high school students in Brooklyn, the Bronx, Manhattan, and Queens.
Urban Dove requested assistance with reviewing and negotiating a lease agreement for its new school in East Harlem. Our Real Estate group helped the organization secure favorable terms on a 35,000-square-foot property that is being used to provide transformative education to at-risk high school students.
Photo courtesy of New Jersey Development Corporation