School of Visual Arts – East Tenth Street
Investing In Education
Located in the Lower East Side neighborhood of Manhattan, this six-story mixed use building boasts 28 one and two-bedroom Class A apartments for students of the School of Visual Arts (SVA). Floors 2 through 6 offer residential units while the ground level offers retail components. Douglaston Development, in partnership with the owner of the development parcel, repositioned the development site from an underutilized four-story walkup to student housing, which was subsequently net leased to SVA for additional student housing accommodations. Douglaston Development used its development expertise and provided General Contractor services through its affiliate construction company, Levine Builders, to successfully reposition this asset. The development benefitted from 421-a tax abatement program.