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After three years of tense negotiations, the nonprofit Dance New Amsterdam (DNA) has signed a new lease with its landlord, Fram Realty LLC and Abro Management (Fram Realty), for its 280 Broadway space.
Community members and elected officials gathered at the company's theater on Friday to hear the terms of the new agreement -- which lowers DNA's monthly rent and rental debt.
Dance New Amsterdam was the first non-profit to move to Lower Manhattan after September 11, 2001. The city supported the move. But in 2010, DNA found itself unable to pay its $70,000 monthly rent and faced eviction. Fram Realty was amenable to restructuring the terms of its lease, according to DNA, but the owner of the space, the city's Department of Citywide Administrative Services (DCAS), was not.
Elected officials like Senator Daniel Squadron, who helped with the negotiations, lauded the new lease.
"This agreement is a testament to the fact that it's possible to find paths forward for community-based cultural organizations and the invaluable work they do," Senator Squadron said. "I'm proud to have worked with DNA for many years to reach a positive result, and Fram deserves great credit for its openness to solutions."
Richard Scharf, manager of Fram Realty, was also pleased with the deal.
"We hope this will be mutually beneficial as we believe this arrangement will afford DNA the ability to thrive and continue to serve lower Manhattans cultural needs," Scharf said.
DCAS said while the space is city property, the lease negotiation was a deal that took place solely between Dance New Amsterdam and Fram Realty.