Business

ABCs and Ivy on Wall Street

Does Blue Ivy have some Green Ivy in her future?

The Green Ivy School is putting down roots at The Trump Building at 40 Wall St. and may open just in time to serve pre-schoolers like Beyoncé and Jay-Z’s little TriBeCa cutie when she turns two next year.

“We’re very excited about the space,” said Donald J. Trump, Jr., of the 80,000-square-foot deal to create a “building within a building.”

“The use will be great for the area and will revitalize the Pine Street entrance,” the developer said.

The school, expected to serve pre-schoolers through eighth graders, will have its own entrance on Pine Street and two new dedicated elevators for its space that will encompass the 2nd, 3rd and part of the 4th floors.

Jeffrey Lichtenberg and Jared Horowitz of Cushman & Wakefield represented the Trump Organization in the 25-year deal while C&W colleagues Glenn Markman and Joseph Cirone worked on behalf of the school, which is also opening a pre-school in Battery Park City.

Lichtenberg said the idea germinated during a C&W market meeting when he and Horowitz learned about the many schools in the marketplace, and it quickly sprouted from there.

“Don Jr. embraced the concept right away, and with the help of the Trump construction people, we were able to create a dedicated entranceway on Pine Street and install new elevators,” said Lichtenberg.

While the asking rents for the space were in the mid-$30s per square foot, these are the lowest office floors in the 70-story building, and the space was unable to be incorporated into higher-paying retail use that now includes the Duane Reade.

Upstairs, asking rents are in the mid-$40s per foot.

During the last four years, the leasing team and Trump have leased more than 600,000 square feet.

The 7th, 8th, 9th and 10th floors are now leased to CNA Insurance on a deal that expires in one year.

A week ago, the 10th floor of 36,490 square feet was leased to First Investors, which was represented by Marc Shapses of Studley and will be able to occupy the space within 120 days.

Green Ivy was founded by Jennifer Jones, Ph.D., whose website says she has founded as many as 15 other schools. She did not return e-mails for comment, but the school website states: “Thanks to our investors, our Battery Park City pre-school site will open Fall 2013, and our preK-8th Grade site in FiDi will open Fall 2014!”

The pre-school, Battery Park Montessori, will be located in the Regatta at 21 South End Ave., where three-hour daily sessions for two- to 4-year-old students will cost their folks $17,000, and a full day for four- and 5-year-olds sets them back $27,000.

The C&W brokers representing the school declined to comment.

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The Times Square South office building at 1412 Broadway is heading to market and could sell for around $250 million.

Now owned by Harbor Group, a Norfolk, Va.-based company led by Jordan Slone, the 420,000-square-foot building was purchased in 2010 for $150 million.

The company then invested $10 million in a new base façade, lobby, elevator cabs and other upgrades to bring it to 96 percent leased.

The property also includes a small retail annex at 1420 Broadway that was purchased in 2011 from Emmes for $10,273,445 and also received the façade-lift.

Tenants range from traditional fashion companies like Jones New York and Escada to Oberon Securities and media and tech tenants.

Slone has hired investment gurus Douglas Harmon and Adam Spies of Eastdil Secured to market the building on the northeast corner of West 39th St.

No one from Eastdil or Harbor returned requests for comment.