Developer Ben Shaoul’s Mangum Real Estate is planning to build a 10-story, 83-unit residential building on the Lower East Side.
An LLC tied to Magnum filed an application with the Department of Buildings today to construct a 10-story,113,246-square-foot residential building at 196 Orchard Street.
Shaoul entered into contract to buy three properties on the corner of Orchard and Houston Streets in August from a Brooklyn family of restarateurs, according to a memo filed in property records. That contract is set to close by January 30.
This summer it was reported Shaoul had also bought the air rights from Katz’s Deli on the opposite corner of Houston.
Magnum, which is also looking to sell the apartment building known as Bloom 62 for $73 million, could not be immediately reached for comment.
The building at 196 Orchard will have 83 apartments with 13,500 square feet of retail on the ground floor. Ismael Leyva is the architect of record on the project.