School of Visual Arts – East 23rd Street
This 22-story mixed use building boasts 74 Class A apartments accommodating 360 students of the School of Visual Arts (SVA), while the ground floor and lower levels offer retail components. Located in the Gramercy Park section of Manhattan, the apartments have sweeping views of the East River and feature the latest technology in access control, intrusion alarms, video surveillance and fire safety monitoring. Douglaston Development, as partner developer, repositioned the project and provided general contracting services through its affiliate, Levine Builders. Upon completion, Douglaston Development triple net leased the project to SVA for 10 years, with an additional 10-year renewal option. SVA’s administrative buildings are adjacent to the development parcel, making it ideal for student residences. The development benefitted from the then 421-a tax abatement certificate program.