School of Visual Arts housing to be completed in January

Real Estate Weekly, Dec 12, 2001

Construction on the largest student housing facility ever used by the School of Visual Arts (SVA) will be completed by January 2002, Levine Builders announced. Located at 215 East 23rd St. in Manhattan, the 22-story, 75,000-SF building has been leased for the next ten years by SVA and will be ready for occupancy at year-end.

Adjacent to the school's main building, this $30 million dollar development can house up to 360 students. The 72-unit facility offers sweeping views of Midtown Manhattan and the East River, with some selected units also featuring balconies and greenhouses. The building also includes a lounge, gym, laundry facilities, T1 lines, network and cable connections, an internal phone system, and 24-hour security.

The building is being developed by Jeffrey E. Levine, in partnership with the Gershon Family and Arthur Leeds. Levine Builders is the general contractor.

"Because of its adjacency to the main buildings of the School of Visual Arts, it makes perfect sense that 215 East 23rd St. will be utilized for student housing." said Jeff Levine, president of Douglaston-based Levine Builders. "College students, who are rarely afforded the opportunity to live in brand new buildings -- especially in New York City -- will find this facility equipped with all the tools they need to live comfortably while earning their degrees."

The ground floor of the building will be devoted to retail space. Floors 2-17 will contain four apartments on each level. Half of the apartments on these floors have two bedrooms, while the other half have three bedrooms. There are also duplex apartments on floors 18-23, which house between two and seven students depending on size. All of the apartments have kitchens.

"This is a thriving neighborhood," said Levine. "And this facility complements the area well by adding new shops as well as attractive residential space."