Dallas-based Invesco Real Estate have acquired the School of Visual Arts dormitory building in Kips Bay. The company paid $174 million for the 14-story, 46,000-square-foot dormitory that was designed by Ismael Leyva Architects. Located at 340 East 24th Street, Invesco bought the property from a partnership led by Magnum Real Estate Group and Winter Properties. The sellers paid $32.3 million for the site in 2013.
