The Simons Foundation has acquired 15 East 11th Street in Greenwich Village from Pebb Capital and TriArch Real Estate Group for $104 million, according to TRD. The student-housing complex contains 175 rooms, and is occupied by students of New York University, The New School, and the Cardozo School of Law.
- Worth Noting: Purpose-built student housing looks no different than a standard apartment, but comes furnished and is equipped with cable and internet. Pebb Capital’s James Jago said the building achieves rents north of $130 per SF.
- Flashback: Pebb and TriArch paid $58 million for Yeshiva University’s 98 apartments spread across 56,000 SF in 2016. The duo subsequently renovated the mix of condos and co-ops to cater to nearby college students.