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81 East 3rd Street

Updated Jun 26, 2026

Hawkins Way Capital Purchases 81 East 3rd Street Student Housing For $28 Million In Manhattan
SOLDStudent Housing

Hawkins Way Capital Purchases 81 East 3rd Street Student Housing For $28 Million In Manhattan

81 East 3rd Street

$28,000,000

$776/SF

Building Size

36,047 SF

Asset Type

Student Housing

Closing

Jun 16, 2026

About this deal

AI

The property asset involved in the transaction is located at 81 East 3rd Street in Manhattan's East Village. This student housing asset was sold for a total transaction amount of $28,000,000, encompassing a size of 36,047 square feet, resulting in a price per square foot of $776.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $28,000,000
  • Address: 81 East 3rd Street
  • Market: East Village, Manhattan
  • Square Footage: 36,047
  • Price Per Square Foot: $776
  • Buyer: Hawkins Way Capital
  • Brokers: Bob Knakal & Anahis Barrie - BKREA

The transaction was facilitated by the BKREA team, which achieved this result in record time following the commencement of the marketing phase. Their proactive approach, including client follow-ups and leveraging the proprietary BKREA internal database, was instrumental in bringing the buyer to the table shortly after the listing started.

On the Map

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$28,000,000

$776/SF

Student Housing

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Players

Robert Knakal

BKREA

Broker

$3.6B

vol

74 deals

Broker
Hawkins Way Capital
Hawkins Way CapitalBuyer
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New York Student Housing Market Snapshot

Boundary boundary · Student Housing · Sale transactions

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Deal FAQ

About $776 per square foot on a published $28M for 36,047 square feet (2026).

Visit Robert (Bob) Knakal to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.57%

Cash-on-Cash

-0.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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