The Real Deal New York

First units at Shaoul’s Verizon Tower conversion hit market

Prices at 100 Barclay range from $3.2M for two-bedroom unit to $11.5M for four-bedroom

April 27, 2015 12:50PM

100 Barclay Street

Ben Shaoul (inset) and 100 Barclay Street

Condominium units at developer Ben Shaoul’s Verizon Building conversion in Tribeca have hit the market at prices ranging from $3.2 million to $11.5 million.

Shaoul’s Magnum Real Estate Group has listed 15 of the 161 units at 140 West Street – redubbed Ralph Walker Tribeca at 100 Barclay Street. A two-bedroom unit is listed at $3.2 million while a four-bedroom is priced at $11.5 million.

Douglas Elliman Development Marketing is responsible for sales at the 31-story building, according to Curbed. Magnum co-developed the property with Los Angeles-based CIM Group.

Magnum purchased the top 21 floors of the tower from Verizon for $274 million in 2013 and later bought the retail portion of the building for $40 million last year. Magnum and CIM secured a $390 million loan to finance the tower’s conversion earlier this year.

Shaoul indicated last year that he could be asking more than $100 million for the building’s penthouse unit.

Shaoul teamed up with Real Estate Equities this month to close on a $75 million assemblage on the Lower East Side where they plan to develop an 83-unit, mixed-use condo building, The Real Deal reported. [Curbed]Rey Mashayekhi

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