The School of Visual Arts will have a new dorm on the Lower East Side come August 2008. The 80,000-square-foot building will sit at the site of the former Duane Reade at Delancey and Ludlow streets.
“We were approached by Charles Blaichman, who is constructing the new building,” Samantha Hoover, communications director for SVA, said recently. “The deal is structured as a 40-year capital lease with an option to buy at the end of the 40-year period.”
It is unclear how many dorms the building will have, but Ms. Hoover said that it would be enough for 350 beds. She also noted that there will be commercial space on the ground floor, although she was not sure what businesses would be coming in.
The Real Estate has calls in to Charles Blaichman for more details. We have not called the owner of Chickie Pig’s yet, but we suspect that he will be happy to know that pizza-loving students will soon be only feet from his establishment.
– Mark Wellborn