Ismael Leyva to Design Manhattan Student Housing for School of Visual Arts

By Dees Stribling, Contributing Writer

New York—Magnum Real Estate Group has tapped Ismael Leyva Architects to design the new School of Visual Arts dormitory at 407 First Ave. on 24th St. in the Kips Bay neighborhood of Manhattan. When complete in the fall of 2016, the student housing property will include more than 500 beds in 242 units.

The building will also contain administrative and faculty offices on the first and basement levels, as well as various common amenities, such as a public terrace on the seventh floor roof. Part of the structure will be 14 stories high, while another part will be only six stories high.

New York-based Magnum, in partnership with the private investor 40 North Properties, acquired the site for the structure last year. Magnum is an active multifamily developer; last year it also acquired the top 21 floors of 140 West St. (Verizon’s headquarters), which it plans to convert into condos.

The School of Visual Arts is an independent and regionally accredited college of art. The school is located in various buildings in Manhattan, including five residential properties. Its George Washington and Ludlow Residence are traditional-style residence halls that offer single and double rooms, while the New Residence, 10th Street, and Gramercy Women’s Residence Halls offer students apartment-style residences.

This is New York-based Ismael Leyva Architects’ fourth project with Magnum Real Estate. The architecture firm has a diverse practice, including residential, hotel, mixed-use, and educational properties in New York City, Costa Rica, Mexico, China and Qatar. Its residential designs include the residences at Time Warner Center, 101 Warren, Superior Ink, the Chatham and the Brompton.