Hawkins Way, Varde Acquire East Village Student Housing
Hawkins Way Capital and joint venture partner Varde Partners completed the acquisition of 81 E. 3rd St., a student housing property located in Manhattan’s East Village. Acquired for $28 million, the off-market transaction marks a strategic addition to the growing FOUND Study student housing portfolio and expands the platform’s presence in one of New York City’s most sought-after neighborhoods.
The property features apartment-style layouts that offer an enhanced living experience, compared to traditional dormitory accommodations, according to Hawkins Way. Its flexible design also provides long-term optionality, with the ability to serve both student housing and conventional multifamily uses.
“The East Village has long been a market we have targeted, given its concentration of students, proximity to leading universities, and enduring real estate fundamentals,” said Ross Walker, managing partner, Hawkins Way. “This acquisition expands our JV’s presence in one of Manhattan’s most dynamic neighborhoods and reinforces our strategy of investing in well-located urban student housing assets positioned to benefit from sustained demand.”
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