Hawkins Way Capital recently acquired a 122-unit student housing building for $30 million in New York City’s Chelsea neighborhood. The seven-story property, located at 300 West 20th Street, has been used as student housing since its establishment in 2003.
Despite efforts to attract students, The New School made the decision to sell the building due to low demand and dissatisfaction among students with its layout. CBRE brokers Doug Middleton and Jack Stillwagon facilitated the transaction; however, financial details were not disclosed. Hawkins Way Capital intends to continue leasing the property to students from various Manhattan schools.
The sale of this prominent student housing facility marks an important investment opportunity for Hawkins Way Capital in one of New York City’s most desirable neighborhoods.
