New School sells dorms to Hawkins Way Capital for $52M

The New School’s oldest dorm in the city has sold to a West Coast real estate investor that’s on a tear in New York City student housing.  Loeb Hall at 131 East 12th Street sold for $51.5 million to Hawkins Way Capital and joint venture partner Varde Capital, according to public records. Hawkins Way took out a $40.5 million mortgage with Emigrant Bank as part of the deal, records show.  Beverly Hills-based Hawkins Way plans to renovate the 286-bed dorm as part of its “FOUND Study” strategy, which involves buying up school real estate in markets with limited supply to […]

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