Charter school records ground lease with Triumph Hospitality Group in Hunts Point

Friends Of Emblaze Academy Charter School, Inc. recorded a ground lease with Triumph Hospitality Group/Hamilton Equity Partners’s Garrison Partners, LLC covering 1164 Garrison Avenue in Hunts Point. The memorandum was signed on May 1, 2020, and was recorded on July 14, 2020. The transaction consists of 1 parcel, including the tax class miscellaneous manufacturing building (F9). The property is 25,224 square feet.

Triumph, owned by Shimmie Horn, signed the lease in 2019. Sidney Borenstein is the signatory for the ownership entity. Borenstein and Horn are co-founders of Hamilton Equity Partners. The lease effective date was July 1, 2019 and runs to July 31, 2050. The last time the property sold was February 4, 2015, for $4,300,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on September 25, 2019.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $300,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $734,940.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link