 |
|
 |
 |
|
|
Forum
-> Chinuch, Education & Schooling
amother
|
 Fri, Sep 13 2024, 7:42 am
So I just hear that my school is renting a building for one branch of their girls for $1 million dollars rent a year!
How in the world is that sustainable?
I’m shocked!
| |
|
| Back to top |
 1
 0
|
|
amother
Navy
|
Fri, Sep 13 2024, 7:44 am
How many girls are in the school?
How much would a building costs to buy. You can’t say that just because it’s a big number its unsustainable it’s much different if there are 200 students vs 2000
| |
|
| Back to top |
0
13
|
|
amother
Garnet
|
Fri, Sep 13 2024, 7:45 am
How big is the campus and what amenities are on the campus and where is this?
Those are big factors.
| |
|
| Back to top |
0
6
|
amother
|
Fri, Sep 13 2024, 7:46 am
| amother Navy wrote: | How many girls are in the school?
How much would a building costs to buy. You can’t say that just because it’s a big number its unsustainable it’s much different if there are 200 students vs 2000 |
This branch is let’s say 500 students….
| |
|
| Back to top |
0
0
|
amother
|
Fri, Sep 13 2024, 7:47 am
| amother OP wrote: | So I just hear that my school is renting a building for one branch of their girls for $1 million dollars rent a year!
How in the world is that sustainable?
I’m shocked! |
You heard? I also heard..from you! Are the governors of the school on here? If not, you're probably better off asking them straight whether or not it's sustainable.
Besides which, this school could be anywhere in the world! Impossible for anyone to help you here, it's too open ended.
Maybe u can let us know when you find out. TIA.
| |
|
| Back to top |
3
12
|
tweety1
↓
|
Fri, Sep 13 2024, 7:49 am
| amother Iris wrote: | You heard? I also heard..from you! Are the governors of the school on here? If not, you're probably better off asking them straight whether or not it's sustainable.
Besides which, this school could be anywhere in the world! Impossible for anyone to help you here, it's too open ended.
Maybe u can let us know when you find out. TIA. |
Why the rudeness??
| |
|
| Back to top |
0
21
|
rmbg
|
Fri, Sep 13 2024, 7:58 am
|
Do you have another option for them? Im sure they exhausted every avenue to find something for less. What choice do they have?
| |
|
| Back to top |
0
3
|
amother
|
Fri, Sep 13 2024, 8:01 am
With no details, it's just gossip. No-one wakes up one day and decides to splurge on a $1,000,000 building for no good reason.
A thread like this starts with speculation, and leads to gossip, slander and who knows what else.
If you're worried how it's sustainable, go and help them if you can. Otherwise, leave it.
| |
|
| Back to top |
0
17
|
|
amother
Babyblue
|
Fri, Sep 13 2024, 8:01 am
Where I live school costs are insanely expensive bec land is crazy expensive. And building is expensive.
My sons small school is paying a crazy fortune to rent.
Originally big donors said they would help. Then ppl were not doing so well financially and can’t do it.
I’m not sure what the plan is.
| |
|
| Back to top |
1
4
|
shabbatiscoming
↓
|
Fri, Sep 13 2024, 8:05 am
| amother OP wrote: | | This branch is let’s say 500 students…. |
So thats 2k a month. How much is tuition?
| |
|
| Back to top |
0
1
|
|
amother
Acacia
|
Fri, Sep 13 2024, 8:28 am
It's $1,000,000 per year.
So for 500 students it comes to $2,000/per year per student is $166.67/month per student.
| |
|
| Back to top |
0
5
|
|
amother
Mulberry
|
Fri, Sep 13 2024, 8:32 am
|
A million a year for a commercial building is a bargain, especially nowadays. Do you know what a building needs to work for that capacity? You can't just use any old building. You need the right amount of bathrooms (and the piping to handle that amount of usage that comes with that capacity). You need to have a functioning alarm and sprinkler system. You need handicap accessibility. You need space for regular classrooms, resource rooms, offices, plus outdoor space for recess and indoor space for when it can't be outside. You need to have a commercial kitchen for lunch. You also need space for parking and carpool lanes (assuming you're not in Brooklyn or some other urban location). These things cost. Long term it's probably better to buy, but mortgages are tough right now and not necessarily any cheaper. It's really not unusual for a large commercial space to cost a lot more than a million a year. I used to work at a nonprofit that ended up going fully remote in order to save on the cost of renting office space. The office was costing almost 3 million a year. It was far smaller than a school of 500 students, and this was also before covid.
| |
|
| Back to top |
0
20
|
|
amother
Clear
|
Fri, Sep 13 2024, 9:31 am
If the school is paying 1 million dollars a year rent they are probably also sub renting it for things like simchos on Shabbos and day camp in the summer. Or they have a day camp of their own and some other uses to defray costs.
Furthermore these days if they bought a building their mortgage interest and principal payments would probably be more than a 1 million dollars a year anyway. My son's school is paying that. (but it is a lot bigger than 500 students between the boys and girls divisions)
| |
|
| Back to top |
0
7
|
Molly Weasley
↓
|
Fri, Sep 13 2024, 9:31 am
Just to respond to the outrage expressed in the headline, please review these facts:
Commercial real estate prices are extremely expensive. I know this is an outlier, but in manhattan, the average price per square for the $71 a year*. Let's assume Brooklyn is about $50 a square foot/year.
In new york state, the minimal classroom size for just 15 students is 770sf** let's round it out to about 40sf per student.
For 500 students that's 20,000 sf JUST FOR THE CLASSROOMS.
At $50 a square feet, 20,000 of commercial space equals a whopping 1 million dollars a year.
Not included in this calculations are the resource rooms, lunchrooms, teacher rooms, bathrooms, offices, etc etc etc etc.
A million dollars per year in this situation is actually a bargain.
The average lease price in New York City for schools is well over $1.5 million***
*https://offices.net/news/united-states-commercial-property-prices-per-square-foot/
**https://www.p12.nysed.gov/facplan/publicat/building_aid_guidelines_072804.html
***https://council.nyc.gov/budget/wp-content/uploads/sites/54/2020/02/Department-of-Education-Charter-School-Lease-Report.xlsx
| |
|
| Back to top |
0
6
|
amother
|
Fri, Sep 13 2024, 9:35 am
I’m sure they did lots of research and this was a good option now.
I’m not questioning the schools decision, more like how in the world are schools supposed to swing this.
I’m wondering how they’ll be able to sustain it?
It’s about $200 from each girls tuition monthly just for the building.
This school does not ask for a lot of tuition….
Maybe they’ll go up now… (Oy vey).
| |
|
| Back to top |
1
0
|
simcha12plus
|
Fri, Sep 13 2024, 10:25 am
my children’s school is also renting for $1 million. it’s a much smaller school. there is NOTHING for less. believe me, they searched….
I don’t know how the bills will be paid. I am grateful that I am not in that position.
| |
|
| Back to top |
0
1
|
amother
|
Fri, Sep 13 2024, 10:47 am
| Molly Weasley wrote: | Just to respond to the outrage expressed in the headline, please review these facts:
Commercial real estate prices are extremely expensive. I know this is an outlier, but in manhattan, the average price per square for the $71 a year*. Let's assume Brooklyn is about $50 a square foot/year.
In new york state, the minimal classroom size for just 15 students is 770sf** let's round it out to about 40sf per student.
For 500 students that's 20,000 sf JUST FOR THE CLASSROOMS.
At $50 a square feet, 20,000 of commercial space equals a whopping 1 million dollars a year.
Not included in this calculations are the resource rooms, lunchrooms, teacher rooms, bathrooms, offices, etc etc etc etc.
A million dollars per year in this situation is actually a bargain.
The average lease price in New York City for schools is well over $1.5 million***
*https://offices.net/news/united-states-commercial-property-prices-per-square-foot/
**https://www.p12.nysed.gov/facplan/publicat/building_aid_guidelines_072804.html
***https://council.nyc.gov/budget/wp-content/uploads/sites/54/2020/02/Department-of-Education-Charter-School-Lease-Report.xlsx |
Thank you for this post. These threads often go South, with those who know nothing about school finances accusing those who do of spending public/tzedakah money the wrong way. No tomatos, I don't mean all, just some.
| |
|
| Back to top |
0
7
|
↑
Molly Weasley
↓
|
Fri, Sep 13 2024, 10:53 am
| amother Iris wrote: | | Thank you for this post. These threads often go South, with those who know nothing about school finances accusing those who do of spending public/tzedakah money the wrong way. No tomatos, I don't mean all, just some. |
Thank you! It took about 10 minutes to put it together, I appreciate the recognition.
| |
|
| Back to top |
0
4
|
amother
|
Fri, Sep 13 2024, 11:00 am
| Molly Weasley wrote: | | Thank you! It took about 10 minutes to put it together, I appreciate the recognition. |
I love most of your posts! I'm not brave enough to post, but I agree with most of what you say!
| |
|
| Back to top |
0
3
|
notshanarishona
|
Fri, Sep 13 2024, 11:33 am
|
This kind of sensationalist post means nothing. Bo one knows if the school is overpaying unless they know location and size of the school. $1,000,000 sounds like a ton but for a building that can fit over a 1000 students in a expensive location that might be a great deal
| |
|
| Back to top |
0
0
|
|
Imamother may earn commission when you use our links to make a purchase.
© 2024 Imamother.com - All rights reserved
|  |
 |
|
 |
|
|
