The Real Deal New York

Ben Shaoul’s Bloom 62 raises ask to $80M

Developer converted the former Cabrini Center for Nursing to rentals in 2013
March 25, 2015 05:00PM

Ben Shaoul is asking $80 million for Bloom 62 — his 81-unit rental building in the East Village — after attempting to sell it for $73 million just four months ago.

A new Cushman & Wakefield listing spotted by EV Grieve shows that the asking price for the six-story former nursing home is $80 million. The listing says that the building, at 62 Avenue B, is 98.7 percent occupied and has an annual income of $5.2 million, with the New Amsterdam School occupying the retail portion for $400,000 per year.

In November, the developer was seeking $73 million in cash, as previously reported.

Shaoul bought the building when it was still Cabrini Center for Nursing and Rehabilitation in 2011 for $25.5 million, and converted it to residential after the facility closed in 2013. [EV Grieve] — Tess Hofmann