S3 Capital has originated a $131.5 million refinance and construction loan to fund the development of a 28-story purpose-built student housing tower located at 465 West 165th Street in the Washington Heights neighborhood of Manhattan. The project will comprise 276 units and 321 beds across 148,074 net rentable residential square feet. The transaction marks S3’s expansion into purpose-built student housing, an asset class the firm views as a natural extension of its core focus on supply-constrained residential markets.
The property is being developed exclusively for students studying at nearby universities and hospitals. The tower will offer fully furnished residences and more than 11,000 square feet of indoor and outdoor amenities tailored to students, including a two-story attended lobby, private study pods and quiet lounges, group study rooms, fitness center, golf simulator, outdoor terrace, grab-and-go food service, secure bike storage, and optional housekeeping and laun
