Fordham Road in the Bronx in April

Success Academy turned out to have selected a location for their next school in the Bronx.

The prolific network of charter schools bought 580 River Ave. , near Yankee Stadium in the South Bronx, from Maddd Equities for $105 million, according to asset records. Maddd Equities, led by Jorge Madruga, had bought American Self Storage in 2019 for $42 million, records show.

Success Academy plans to open a new K-12 in the county, according to spokeswoman Ann Powell.

“Families in the Bronx desperately want a successful school, yet locating a shared area in public school buildings has been a constant challenge,” he said. in midtown Manhattan, and this area is at full capacity. As more and more of our students enter the best school, it is imperative to ensure they have a position to learn. “

Representatives for Maddd Equities declined to comment.

Success Academy has recently had 47 places in the city: 18 in Manhattan, 16 in Brooklyn, seven in Queens and six in the Bronx. Its locations in the Bronx are divided between 4 elementary schools and two schools in South Bronx and Soundview. The River’s location on the avenue would be the first in the Bronx where Success Academy owns the property, according to city records.

The well-known charter school formula clashed with former Mayor Bill de Blasio during his tenure, but his relationship with Mayor Eric Adams is far from a less debatable start. Success Academy Executive Director Eva Moskowitz donated $400 to her crusade last year, according to the city. Records.

The new Success Academy would be close to several other primary projects planned for the Bronx, adding a 750-unit affordable housing complex from Maddd Equities and Joy Construction at 1164-1184 and 1159 River Ave. called River Crest. Il would also be adjacent to the site of the huge Bronx Point project, which will come with the borough’s highly anticipated Universal Hip Hop Museum, as well as affordable housing, retail stores and a Bronxworks network facility.

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