The Real Deal New York

Ben Shaoul buys retail space at 140 West Street for $40M

Verizon owns floors two through 10 at the 40K sf property
November 20, 2014 02:45PM

Ben Shaoul, the developer who’s turning Verizon’s former downtown headquarters into a luxury condominiums, has bought the building’s 40,000-square-foot retail space for $40 million.

Verizon is selling the space to the developer. The telecommunications company still owns and occupies floors two through 10 at the building, according to Crain’s.

Shaoul’s Magnum Real Estate bought 140 West Street — located across the street from One World Trade Center — from CIM Group last year for $274 million. He is creating 161 condos in the building.

Owning the retail space gives Shaoul an opportunity to take advantage of the downtown retail boom. [Crain’s] — Claire Moses

Correction: a prior version of this article incorrectly stated the square footage of the retail space.