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Student Housing Portfolio Adjacent to Cornell

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Address: 105 Dewitt Pl, Ithaca, NY 14850, USA

New York & Tri-State + Student Housing

Created date: March 27, 2025

Date last updated: March 27, 2025

• 27 Total Properties
• 349 Total Beds
• 82 Total Parking Spaces
• All FF&E Included
• Leased for 2024-25 SY and
2025-26 SY (12-Month Leases)
• Rental Upside
• High Demand; Stable Sub-Market
• (2) Building Lots and (6) Large Lots for
Further Development
• Pedestrian to Top-Rated Cornell University
• Cornell University’s Enrollment Exceeds
26,790 (Fall 2024)
• Management Upside: Strong Management
Team Enhances Portfolio Efficiency,
Optimizes Operations, and Maximizes
Overall Performance

Property Description

A 349-bed portfolio comprised of well-maintained student housing properties leased for the 2024-25 SY and 2025-26 SY on 12-month leases. The properties showcase high-quality renovations and low cost of maintenance and are situated on three adjoining streets with contiguous lots in Collegetown. The Portfolio presents upside potential for new ownership. In addition, a strong management team would enhance the Portfolio efficiency, optimize operations, and maximize overall performance Cornell University boasts a formidable enrollment exceeding 26,790 students. For the Fall 2024 first-year class alone, the University received over 65,600 applications, ultimately selecting 5,520 students. Benefiting from Cornell University's esteemed reputation, the student housing properties of this Portfolio consistently experience high demand, securing a stable market position year after year. *Underwriting Model/Pro Forma based on 349 beds [includes 21 beds down for renovation and 24 beds that can be constructed on development sites]; Not including those units, the active bed count is 304 beds (For more details contact agent for Offering Memorandum). Complete the Confidentiality Agreement to Obtain the Offering Memorandum and Access to the Online Data Room.

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Student Housing
No. of Units:	349
Building Size:	139,375 Sq ft
Opportunity Zone:	No
Property Website	Click Here