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Slate, RWN to Convert East Village Dorm into Rentals

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The Real Deal reports that Slate Property Group and RWN Real Estate Partners have acquired a six-story former School of Visual Arts dorm (minus the ground-floor commercial component, which is occupied by a TD Bank and owned by a private investor) at 101 East 10th Street, paying $25.9 million. They plan to convert the property to high-end rentals, utilizing more than 8,000 square feet of unused air rights to construct an addition on the building. Aufgang Architects will design.
· Slate, RWN grab former School of Visual Arts dorm for $26M [TRD]