Updated Jun 15, 2026
Hawkins Way Capital Acquires Student Housing At 117 West 70th Street For $80 Million
117 West 70th Street
$80,000,000
$1,062/SF
Building Size
75,313 SF
Asset Type
Student Housing
Closing
May 7, 2026
About this deal
AI
The transaction involved the sale of a student housing asset located at 117 West 70th Street in Lincoln Square, Manhattan. The asset was sold for a total of $80,000,000, encompassing a total square footage of 75,313, resulting in a price per square foot of $1,062.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $80,000,000
- Square Footage: 75,313
- Price Per Square Foot: $1,062
- Buyer: Ross Walker - Hawkins Way Capital
- Seller: American Musical & Dramatic Academy
- Market: Lincoln Square, Manhattan
Hawkins Way Capital, through 117 W 70th Owner LLC, acquired the dormitory from the American Musical and Dramatic Academy under a sale-leaseback structure.
On the Map
$80,000,000
$1,062/SF
Student Housing
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Market Student Housing Market Snapshot
Boundary boundary · Student Housing · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93