The Real Deal New York

Posts Tagged ‘ben shaoul’

  • From left: Ben Shaoul and 340 East 24th Street

    From left: Ben Shaoul and 340 East 24th Street

    Ben Shaoul received $71 million in construction funds to build a dormitory in Kips Bay. [more]

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  • Ben Shaoul

    389 East 89th Street, Ben Shaoul and 385 1st Avenue

    WEEKENDEDITION Developer Ben Shaoul, who is in the midst of a condo conversion at the historic Art Deco Verizon Building, is now making plays at two more towers at a cost of $270 million. [more]

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  • verizon

    Frm left: 1095 Sixth Avenue, 140 West Street and Verizon Communications CEO Lowell McAdam

    Verizon Communications plans to relocate its corporate offices to a familiar spot – its former digs at the Blackstone Group’s 1095 Sixth Avenue. [more]

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  • From left: 450 West 20th street, interior and Ben Shaoul

    From left: 450 West 25th street, interior and Ben Shaoul

    Ben Shaoul has overhauled a single-family townhouse in West Chelsea, and for his troubles, he’s seeking roughly $7.3 million more than he paid for the property. [more]

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  • Ben Shaoul

    Ben Shaoul

    UPDATED, 5:13 p.m., May 23: Developer Ben Shaoul, head of Magnum Real Estate Group, told The Real Deal that he settled a legal battle with his parents, Abraham and Minoo Shaoul. The two accused the real estate mogul of misappropriating millions of dollars from the refinancing of mortgages on properties he co-owned along with them.

    Though Shaoul sent out a press release Friday morning claiming the suit was settled, Abraham and Minoo Shaoul’s attorney Stephen Meister informed TRD that while the two parties are currently negotiating, no final agreement has yet been reached. [more]

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  • 247 North 7th Street

    247 North 7th Street

    Ben Shaoul’s conversion of the Verizon Building into condos and Adam America’s pair of new Williamsburg rentals are among the latest projects to receive a new batch of eye-popping renderings in the past week or so. Click here for a slideshow.

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  • From left: Andrew Barrocas, an interior shot of a unit at Williamsburg Townhomes and Ben Shaoul

    From left: Andrew Barrocas, an interior shot of a unit at Williamsburg Townhomes and Ben Shaoul

    Williamsburg Townhomes, a joint venture between Ben Shaoul’s Magnum Real Estate Group and SL Green Realty, has hit the 75 percent sold mark, a spokesperson for the project told The Real Deal exclusively. The townhouse development, located at 131 North Third Street off Bedford Avenue, has a dozen four-story residences with 1,892 square feet of interior space and 957 square feet of private outdoor space. [more]

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  • Ben Shaoul

    Ben Shaoul

    Developer Ben Shaoul, who heads up Magnum Real Estate Group, is facing a legal battle with his parents, Abraham and Minoo Shaoul, who claim that the real estate mogul misappropriated millions of dollars from the refinancing of mortgages on properties he co-owned with them.

    Abraham and Minoo Shaoul are accusing their son of treating Magnum, a major Manhattan real estate investment company co-founded by Shaoul and his parents, like his “own personal piggy bank,” using clever legal maneuvers to derive payouts from buildings purchased by the company without their permission. [more]

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  • NYC developers ramp up dorm projects

    January 02, 2014 11:02AM
    pace-dorms

    Renderings of 180 Broadway and 33 Beekman Street

    Several developers are handling purchasing, leasing and construction of dormitory buildings in the city, a job usually done by the postsecondary schools themselves.

    Dormitories fit more tenants in a given space than apartments – and universities can save money by outsourcing the job of developing the facilities. But developers have also been criticized for constructing dorms as a tactic to circumvent zoning rules and build double the size of a typical apartment complex.  [more]

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  • shaoul-98-ave-a

    Ben Shaoul and 98 Avenue A

    Developer Ben Shaoul, who heads up Magnum Real Estate Group, plans to build 43 apartments at 98 Avenue A in the East Village, according to city Department of Buildings records filed late last week. [more]

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  • From left: Ben Shaoul and 515 East 5th Street

    From left: Ben Shaoul and 515 East 5th Street

    Developer Ben Shaoul, whose contentious sixth- and seventh-floor additions at 515 East 5th Street were recently slammed by a Community Board 3 land use committee, fired back at critics in a statement to The Real Deal. [more]

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  • From left: Ben Shaoul and 515 West 5th Street

    From left: Ben Shaoul and 515 West 5th Street

    Developer Ben Shaoul continues to rack up enemies in the East Village. Community Board 3′s land use, zoning, public and private housing committee took another swat at his contentious sixth and seventh-floor additions at 515 East 5th Street Wednesday night.

    The additions, built atop the building in 2006, drew community ire because of the city’s multiple dwelling law, which requires an elevator in buildings higher than six stories. Shaoul has since asked for a zoning variance which would allow the rogue floors to remain, and CB 3 voted to recommend that the Board of Standards and Appeals deny the request. [more]

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  • 140 West Street and Ismael Leyva

    140 West Street and Ismael Leyva

    Ismael Leyva Architects has been tapped to design Ben Shaoul’s condominium conversion project at 140 West Street in Lower Manhattan, the firm announced yesterday.

    Shaoul’s Magnum Real Estate Group bought the top 22 floors of the 1.8 million-square-foot tower, also known as the Verizon Building, in September, and intends to build about 475,000 square feet of luxury residences. [more]

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  • 140 West Street

    140 West Street

    Verizon has sold the top 21 floors of its 140 West Street headquarters to Ben Shaoul’s Magnum Real Estate, which will convert the space into residential condominiums.

    A total of roughly 1.8 million square feet in the upper portion of the 31-story Financial District building would be affected. Verizon, meanwhile, will hang on to the lower 10 floors of the building. The company said in May it was looking to sell or rent the square footage. [more]

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  • Meet the landlord: Ben Shaoul

    August 15, 2013 04:30PM
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    100 Avenue A (credit: PropertyShark) and Ben Shaoul

    From the August issue: In this month’s Meet the landlord feature, The Real Deal talks with Great Neck native Ben Shaoul, president of Magnum Real Estate Group. He discusses buying his first property at the age of 20, a recent purchase of an Avenue A theater building, his business emerging stronger from the recession years and the challenges of balancing the job with fatherhood. See more after the jump. [more]

    3 Comments
  • bloom-62-living-room

    A living room at Bloom 62 (Inset: Ben Shaoul)

    Six rental apartments at Ben Shaoul’s Cabrini Center conversion project, now dubbed Bloom 62, hit the market over the weekend, according to StreetEasy listings seen by EV Grieve. [more]

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  • From left: Ben Shaoul and 254 Front Street

    Ben Shaoul’s Magnum Real Estate Group has sold a high-end rental property in the Financial District to Queens-based construction and management firm Werber Management for $25 million, according to records filed with the city yesterday. [more]

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  • John Penley

    UPDATED, 6:38 p.m., April 4: An anarchist activist who pledged to camp out in front of the offices of Ben Shaoul’s Magnum Real Estate Group this weekend has called off the protest, EV Grieve reported. Instead, the East Village’s John Penley has decided to hold a meeting.

    Originally, Penley planned the weekend sit-in to call attention to the allegedly bad conditions of Taylor Mead, an elderly tenant in a Shaoul-owned property. [more]

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  • John Penley (credit: the Villager)

    An East Village activist is planning to camp out this weekend in front of Ben Shaoul’s Magnum Real Estate Group office in Soho to protest the allegedly poor apartment conditions of one 88-year-old tenant in a Shaoul-owned building, EV Grieve reported. The activist, John Penley, hopes to provide the elder tenant with a renovated, rent-free ground-floor unit in the same building and home-care assistance for the rest of the man’s life. [more]

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  • From left: Jared Kushner, 201 East 2nd Street, 435 East 12th Street and 211 Avenue A (credits: PropertyShark)

    The East Village is a playground for New York City’s urban trendsetters, drawing them to its trendy bars and restaurants in century-old walk-ups. But the neighborhood has also been a battleground for decades between tenants and their advocates allied against residential landlords seeking to profit from the ever-rising rents in the apartments above. [more]

    3 Comments
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