---
title: "Hawkins Way Capital Drops $28M on 81 East Third Street Apartments, Student Housing"
url: https://burnaze.com/article/6ef05f51-087a-42fd-b1be-27430c44530d
source: "Commercial Observer"
original_url: https://commercialobserver.com/2026/06/hawkins-way-capital-buys-81-east-third-street/
author: "Edavis"
category: "Real Estate"
published: 2026-06-17T20:02:58.000Z
modified: 2026-10-31T13:17:24.403Z
image: https://commercialobserver.com/wp-content/uploads/sites/3/2026/06/Joshua-Bird_81-E-3rd-St-copy.jpg?quality=80&resize=1200%2C630&strip=
---

# Hawkins Way Capital Drops $28M on 81 East Third Street Apartments, Student Housing

**TL;DR:** Hawkins Way Capital has acquired a property at 81 East Third Street for $28 million, which comprises student housing and market-rate apartments. The building is partially occupied by students at the New York Conservatory for Dramatic Arts.

*By Edavis, originally published in Commercial Observer on 2026-06-17. [Read the original](https://commercialobserver.com/2026/06/hawkins-way-capital-buys-81-east-third-street/).*

## Story

Beverly Hills-based real estate investment company **Hawkins Way Capital** has acquired a property comprising student housing and market-rate apartments at **81 East Third Street**, Commercial Observer has learned.

The $28 million acquisition in the East Village closed Wednesday, according to a source familiar with the deal. The sale comes just days after CO reported that Hawkins purchased the Upper West Side residence hall of **AMDA College of the Performing Arts** at **117 West 70th Street** for $80 million.

The 13-story building at 81 East Third Street, between First and Second avenues, spans 36,047 square feet and contains 45 residential units, according to **Department of Finance** records. Roughly two-thirds of the building is occupied by students at the **New York Conservatory for Dramatic Arts**, which uses the site as a dormitory. A school brochure for the property advertises suite-style dorms with a laundry room and common areas.

The student housing portion of the building will remain intact, according to a source, but the fate of the apartments is unclear. Hawkins did not immediately respond to a request for comment.

The seller entity, **81 East 3 Street Realty**, is linked to the **Lokshin** family, a local developer and landlord, as well as landlord **Simon Fouladian**. The entity redeveloped the building into student and rental housing in 2005, drawing the ire of its East Village neighbors over the building’s height.

**BKREA**‘s **Bob Knakal** and **Ana Barrie** represented both sides of the sale. Spokespeople for BKREA and the sellers could not be reached for comment.

Hawkins Way, which reports $3 billion in assets under management, has undertaken a series of student housing deals over the base year.

In August 2025, the firm sold a former **DoubleTree by Hilton** hotel at **569 Lexington Avenue** to the **City University of New York** for $125.6 million. The month before that, it acquired the 492-room student housing tower at **99 Washington Street** in the Financial District. The firm also owns a 122-unit student housing property at **300 West 20th Street**.

## Entities

- Real Estate (sector)
- Commercial Observer (publication)
- real estate investment (topic)
- property acquisition (topic)
- student housing (topic)
- BKREA (company)
- Bob Knakal (person)
- Department of Finance (regulator)
- DoubleTree by Hilton (company)
- Hawkins Way Capital (company)
- 81 East Third Street (location)
- AMDA College of the Performing Arts (company)

---
Originally reported by Edavis, Commercial Observer (https://commercialobserver.com/2026/06/hawkins-way-capital-buys-81-east-third-street/). Summarized by Burnaze (https://burnaze.com/article/6ef05f51-087a-42fd-b1be-27430c44530d).