The Real Deal New York

Posts Tagged ‘ben shaoul’

  • 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
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    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]

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  • 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]

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  • From left: Jared Kushner, 118 and 120 East 4th Street

    A group of tenants in the East Village — who live in the cluster of buildings that Jared Kushner recently purchased from Ben Shaoul — are planning to meet to discuss their experiences living in the properties, EV Grieve reported. Though an email announcing the meeting did not specifically mention past problems with Shaoul’s Magnum Real Estate Group, the landlord has earned a reputation for controversy in the neighborhood and beyond. Last winter, tenants complained about unsupervised construction work happening at the buildings, at 118 and 120 East 4th Street, according to the blog Occupy East 4th Street. [more]

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  • Kushner to pay $49M for Shaoul portfolio

    February 05, 2013 04:00PM

    From left: David Ash, Jared Kushner, Aaron Jungreis and 195 E. 4th St.

    UPDATED 11:00 a.m., Feb. 6: The Kushner Companies extended a Manhattan apartment acquisition binge last month by signing a contract to buy seven walk-up rental buildings in the East Village for $49 million from developer Ben Shaoul’s Magnum Real Estate Group and Meadow Partners, several sources said. The seven buildings have a total of 115 apartments and one store. Among the residential units, 28 are rent stabilized and the rest are free market, insiders said. [more]

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  • From left: the East Village and Jared Kushner

    UPDATED, 11:25 a.m., Feb. 6: A joint venture between Jared Kushner and an unnamed international investor has closed on a portfolio of 17 walk-up apartment buildings in Downtown Manhattan for a total of about $130 million, a source told The Real Deal. The buildings are situated between East 2nd and East 13th streets, First Avenue and Avenue B, in the East Village. [more]

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  • Ben Shaoul and 167, 165 and 163 Ludlow Street

    Controversial landlord Ben Shaoul continues to expand his empire south. The owner of an estimated 40 properties in the East Village, Shaoul’s Magnum Real Estate bought three buildings on the Lower East Side earlier this summer for $16.5 million, Lo-Down NY reported. The properties are a trio of five-story walk-up apartment buildings at 163, 165 and 167 Ludlow Street, between Stanton and East Houston streets, that each contain between 15 and 20 units and ground-floor commercial spaces.

    The buildings were one half of a six-property portfolio being marketed by Michael Besen and Matthew Slonim of Besen & Associates for an asking price of $35 million. [more]

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  • Ben Shaoul, president of Magnum Real Estate, and the Brooklyn Bridge

    A new Lower Manhattan luxury rental building designed to reflect the semi-industrial feel of the old South Street Seaport, will be completed next month after years of delays, the Wall Street Journal reported.

    The building, at 254 Front Street, at Dover Street, near the South Street Seaport, was purchased in 2004 by developer Barry Akrongold and was planned to be condominiums. However, the project’s lender, the Bank of Smithtown, never funded the construction, and Ben Shaoul’s Magnum Real Estate bought the project, though no date is listed in the Journal article or on Streeteasy.com. The controversial developer then turned the building into rentals. [more]

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