New York—Magnum Real Estate Group has developed “24th Street Residence,” the School of Visual Arts’ new flagship student residence hall, a 146,827-square-foot ground-up building in New York City.
“The facility is brand new construction and programmed exactly to The School of Visual Arts’ plans and specifications,” Ben Shaoul, Magnum Real Estate’s president, told MHN. “As a result, the building is entirely efficient from a real estate perspective. Not a single inch of space is wasted or gone unutilized. This is obviously a critical element for New York City where rents are not cheap and space must be maximized.”
Located at 407 First Ave., the new dormitory houses 505 students and offers advanced design and technology to meet the students’ artistic needs. Each room has its own bathroom and a private kitchenette, outfitted with a sink, cabinets, microwave and refrigerator. The dorms will also be climate-controlled and equipped with Wi-Fi and HDTVs. Every floor at the 24th Street Residence also features a community lounge that includes a dishwasher, convection oven, and icemaker in addition to the lower level cooking facility.
Designed by Ismael Leyva Architects, the building features brand-new, state-of-the-art student housing, retail and office facilities, plus an array of amenities.
“The residence hall offers some of the best amenities for students in the city,” Shaoul said. “The outdoor space at the residence hall has been heavily landscaped with BBQ areas and picnic tables, as well as outdoor viewing space for artists’ shows, outdoor cinema for movie nights, and general communal space for residents.”
Additional amenities include a recreational/socializing room for residents; a private dining room with three separate kitchens where residents can host dinner parties or make their favorite foods; a state-of-the-art fitness facility with yoga room; private theatre; multiple study rooms; and an indoor museum-like show space for artists’ exhibitions.
“This development fits perfectly into the School of Visual Arts’ landscape as it is sits directly between all of its facilities, which span east to west on West 23rd St., and includes properties just north and south of 23rd St.,” Shaoul said. “Magnum Real Estate Group has the capability, through its network, to procure property for any institution, as location is one of the driving factors of any development.”
The residence hall is situated conveniently between two of Manhattan’s most beloved neighborhoods—Gramercy and Flatiron. It is also in close proximity to some of the city’s most popular dining and entertaining options, as well as public transportation.