Listed by Pyramid Brokerage Company, Inc
$1,400,000
The Ruby
Details
Property Type Multifamily
Sub Type Student Housing
Square Footage 23,479
Net Rentable (SqFt) 21,717
Units 35
Beds 35
Class A
Buildings 1
Stories 4
Acreage 0.180
Zoning CR-4
Investment Type Redevelopment
Core Collegetown Cornell University Student Housing Develpoment Site
Marketing description
Proximity to campus is one of the top priorities when students choose their apartments. The Ruby offers an ideal location, with walking-distance access to campus buildings and convenient transportation options. A TCAT bus stop is located just steps from the property, providing easy connections to Downtown, North Campus, Ithaca Mall, and Wegmans grocery store.
This prime location ensures residents enjoy quick access to campus essentials, dining, and shopping all within minutes.
Investment highlights
- Shovel-ready site in a high-barrier-to-entry market with full municipal approvals secured
- Highly competitive student housing market with a growing population and strong demand
- Attractive market rents on a $/SF basis
- Optimal one-bedroom, one-bathroom unit mix, reflecting student preference for single occupancy and bed/bath parity
- Easy-to-rent single-occupancy units compared to traditional group by-the-bed housing
- Prime Collegetown location with long-term appeal
- Cornell University is home to approximately 30,000 students, faculty, and staff
Listing Contacts
Listed by Pyramid Brokerage Company, Inc
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