- Apollo Global Management is refinancing Lafayette Hall, NYU’s largest student dorm, with a $180M loan.
- The 17-story building at 80 Lafayette St. houses over 1K students across 262 units and is master-leased by NYU through 2037.
- Student housing demand remains strong in NYC, with rental vacancies at a 30-month low.
- Apollo has invested in 30K student housing beds nationwide and recently refinanced luxury apartments on Wall Street.
Apollo Global Management (APO) is backing NYU’s student housing expansion with a $180M refinancing loan for Lafayette Hall, the university’s largest dorm.
Located at 80 Lafayette St. in Lower Manhattan, the 17-story building was originally built in 1915 and later converted into a student residence in 1999. According to Bloomberg, the tower accommodates more than 1K students across 262 units and is master-leased by NYU.
A 10-Year Lease Extension
NYU has extended its lease on Lafayette Hall for another 10 years, ensuring occupancy through 2037. The property sits at the intersection of Tribeca, SoHo, and Chinatown, offering students proximity to downtown Manhattan.
Get Smarter about what matters in CRE
Stay ahead of trends in commercial real estate with CRE Daily – the free newsletter delivering everything you need to start your day in just 5-minutes
A Tight Housing Market
According to a Corcoran Group report, the demand for student housing in NYC remains high, with rental vacancies at their lowest in 30 months. This underscores the importance of large-scale dorm projects like Lafayette Hall.
Apollo’s Expanding Real Estate Portfolio
Apollo’s real estate fund has been actively investing in student housing, with 30K beds across the US. The firm also recently provided $275M to refinance luxury apartment towers on Wall Street.
Lafayette Hall’s Features & Retail Tenants
Lafayette Hall offers spacious units with vaulted ceilings, a lounge, music practice rooms, and two ground-floor retail spaces leased to a café and an art gallery.
Why It Matters
The NYC student housing market is tightening, and institutions like NYU are securing long-term housing solutions. Apollo’s financing deal highlights private capital’s growing role in supporting student housing amid strong demand.
