FCL MANAGEMENT ANNOUNCES THE NEW FOUND STUDY CHELSEA

New Premier Student Housing in the Heart of New York City's Chelsea Neighborhood Provides
Modern Accommodations for Students and Young Professionals

NEW YORK, Sept. 5, 2024 /PRNewswire/ -- FCL Management, an operator of high performing assets in select U.S. cities, particularly urban centers, is proud to announce the new FOUND Study Chelsea, a premier student housing property recently acquired by Hawkins Way Capital. FOUND Study Chelsea provides modern affordable housing for students of The New School and other nearby universities, enhancing student living experiences in a highly sought-after area. This new property, operated by FCL Management, marks a strategic expansion for the FOUND brand in Manhattan's vibrant Midtown. FOUND Study is an affordable student and intern housing provider committed to enhancing the student living experience by providing safe, well-maintained spaces that support academic success.

"The new FOUND Study Chelsea demonstrates our dedication to enhancing the student housing landscape in New York City," said Andrea Colagrande, Managing Director, FCL Management. "Students and young professionals alike deserve high-quality housing options that are affordable, comfortable and convenient, and that's what our brand promises to deliver."

FOUND Study Chelsea is housed in a 7-story building, featuring 33 units complete with 122 bedrooms, communal lounges, a rooftop deck, and a fitness center. Residents can enjoy a range of amenities that cater to the needs of students and young professionals. The modernized rooms and common areas provide a comfortable living environment, ensuring conveniences that offer an enhanced quality of life. Each housing unit comes fully furnished, equipped with high-speed internet and laundry facilities on-site. The property has undergone substantial renovations to align with modern, market-leading brand standards. The extensive redesign, completed in August 2024, has transformed the building into a leading student housing offering, featuring comfortable accommodations in one of New York City's most desirable neighborhoods.

Ideally located within a 5-minute walk from major subway lines, including the A/C/E and 1/2/3 lines, FOUND Study Chelsea provides unparalleled connectivity throughout New York City. This central location caters to the needs of students, further enhancing its appeal. Whether residents want to spend a day exploring New York's art galleries, enjoy a stroll along the high-line or sample dishes at the Chelsea Market, the convenient location provides quick and easy access.

In July 2024 Hawkins Way Capital, a vertically integrated real estate company that manages $3 billion in assets, acquired the Chelsea building. The company's aim was to meet the growing demand for modern, affordable student accommodations in Midtown Manhattan, while also positively contributing to the local and broader New York City community. As the preferred third-party partner for The New School, FCL Management ensures its continued excellence in property management, reinforcing its commitment to providing superior living environments for students.

For more information, visit www.foundstudy.com/chelsea.

About FCL Management
FCL Management is an operator of high performing assets in select U.S. cities, particularly urban centers. With the expertise of a hands-on team, the company works with leading hospitality and multifamily owners to create tailored solutions across a portfolio of hotels, apartments, and student housing. www.fclmgmt.com 

About Hawkins Way Capital
Hawkins Way Capital is a fully vertically integrated real estate company with $3 billion of assets under management, focusing on value-add and opportunistic investments across various asset classes and geographies. The company seeks niche theses targeting attractive risk-adjusted returns, leveraging the principals' investing experience and extensive network to execute strategies that offer long-term value. www.hawkinsway.com

Media Contacts:
Greta Vanhersecke
GV Public Relations
Email: [email protected]
Phone: (917) 751-5037

SOURCE FCL Management