Magnum Real Estate Group | The Real Deal New York

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Magnum Real Estate Group

594 Broadway, Suite 1010
New York, NY 10012
(212) 941-9399
Website
bshaoul@magnumreg.com

Magnum Real Estate Group is a New York City-based development firm and property management company established by Ben Shaoul in 1999 with financial backing from his parents. The firm owns or has owned dozens of apartment buildings in lower Manhattan. Its initial business model was to buy rundown rentals, renovate them, and attempt to get rent-regulated tenants to vacate their units in order to charge incoming tenants market rents, but it now builds ground-up development as well. Its portfolio includes Bloom 62, an upscale residential building in the East Village, as well as 515 East Fifth Street, 514-516 East Sixth Street, 254 Front Street, the A Building on East 13th Street, a dormitory for the School of Visual Arts at 407 First Avenue, and the top 21 floors of Verizon's 140 West Street headquarters, which it plans to convert to condominiums.


07/04/18
...some property executives, including developer Ben Shaoul of Magnum Real Estate Group, believe blockchain will be a game changer for NYC real estate. Magnum’s condominium...

06/26/18
...a planned condo project: Ben Shaoul, president of Magnum Real Estate Group, just signed a contract to sell his unfinished, 81-unit project at 62 Avenue B — known...

06/14/18
...a planned condo project: Ben Shaoul, president of Magnum Real Estate Group, just signed a contract to sell his unfinished, 81-unit project at 62 Avenue B — known...

...a planned condo project: Ben Shaoul, president of Magnum Real Estate Group, just signed a contract to sell his unfinished, 81-unit project at 62 Avenue B — known...

05/25/18
...in New York City using cryptocurrency. The seller, Magnum Real Estate Group’s Ben Shaoul, was said to have converted the digital currency into cash through...

05/16/18
...be reached. Property records show Ben Shaoul’s Magnum Real Estate Group signed a contract for the buildings in April, but sources say he is no...

05/02/18
...clear, and Shaoul declined to comment. In 2013, Shaoul's Magnum Real Estate Group converted the former nursing home into rentals, but residents of the building — then called...

03/22/18
...Bitcoins to purchase real estate in the city. Magnum Real Estate Group...

03/02/18
...in direction with a developer. Ben Shaoul’s Magnum Real Estate Group last year removed Compass in favor of Douglas Elliman on his 196 Orchard development. And...

12/22/17
...at Elliman. At Elliman, Barron led sales for Magnum Real Estate Group’s 100 Barclay, before developer Ben Shaoul replaced the firm with Corcoran Sunshine Marketing Group...

11/14/17
...third life as a punk-inspired condominium. Shaoul’s Magnum Real Estate Group is calling the project Liberty Toye, and the firm put 14 units on the market...

11/10/17
...some property executives, including developer Ben Shaoul of Magnum Real Estate Group, believe blockchain will be a game changer for NYC real estate. Magnum’s condominium...

...some property executives, including developer Ben Shaoul of Magnum Real Estate Group, believe blockchain will be a game changer for NYC real estate. Magnum’s condominium...

10/16/17
...looking anywhere and everywhere for an edge. For Magnum Real Estate Group’s Ben Shaoul, that means embracing the cryptocurrency movement. "Our buyer has evolved, they've...

10/02/17
...a dramatic price point to attract attention. In 2014, Magnum Real Estate Group’s Ben Shaoul reportedly threw out the $100 million figure at his condo conversion at...

07/14/17
...day you could be out again. Ben Shaoul's Magnum Real Estate Group has removed Compass from another of its new developments, the 96-unit condominium rising next...

07/07/17
...foyer and great room and chef's kitchen. Shaoul's Magnum Real Estate Group and CIM Group are behind the project, which is being marketed by Corcoran Sunshine...

06/23/17
...Most recently, she led sales for Elliman at Magnum Real Estate Group’s 100 Barclay Street before the firm was replaced by Corcoran Sunshine Development Marketing last...

...of Vornado Realty Trust, Ashkenazy Acquisition Corporation and Magnum Real Estate Group. Despite any big deals completed since the duo’s departure, Eastdil is still largely...

05/15/17
...the panel members focused more on business, with Magnum Real Estate Group’s Ben Shaoul -- who scored a $195 million loan last year from SL Green...

05/11/17
...In April, Corcoran took over for Elliman at Magnum Real Estate Group’s 100 Barclay. In September, Elliman replaced Corcoran on Ian Bruce Eichner's 45 East 22nd Street...

05/04/17
...a panel Thursday alongside developers Ben Shaoul of Magnum Real Estate Group, Witkoff Group's Brett Mufson and DDG's’ Joe McMillan. The Real Deal’s Amir Korangy...

05/02/17
...The company recently handled a similar project nearby, Magnum Real Estate Group...

...with the leasing team from Ben Shaoul’s Magnum Real Estate Group in Soho. I’ve represented part of that firm’s portfolio for over 10 years...

03/09/17
...firm also sold its 32.9 percent stake in Coda, Magnum Real Estate Group’s rental-to-condo conversion at 385 First Avenue.   Kuafu Properties hit pause on its major...
  • Event Retail Leasing
  • Address 140 West Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 68,400
notes
The retail giant signed a lease to open another Marshall's store in Manhattan.
  • Event Sales
  • Address 340 East 24th Street, 332 First Avenue
  • Neighborhood Kips Bay
  • Borough Manhattan
  • Square feet 146,000
  • Price $ 174,000,000
  • Publication Date 12/01/2016
  • Event Date 10/15/2016
  • Party 1 Magnum Real Estate Group, Etage Capital, Silverpeak Real Estate Group
  • Party 2 Invesco Real Estate
notes
The newly-built dormitory sold for $174 million
  • Event Financing
  • Address 196 Orchard Street
  • Neighborhood Lower East Side
  • Borough Manhattan
  • Square feet 50,000
  • Price $ 195,000,000
notes
The company secured a $195 million senior construction loan.
  • Event Residential Sales
  • Building Name 140 West Street
  • Address Unit 15N, 140 West Street
  • Unit 15N
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 4,076,545
  • Publication Date 02/17/2016
  • Event Date 01/26/2016
  • Party 1 Magnum Real Estate Group
  • Party 1 Entity 140 West Street (Ny), LLC
  • Party 1 Entity 2486 Davidson Corp.
  • Event Sales
  • Address 6 Greene Street
  • Neighborhood Soho
  • Borough Manhattan
  • Price $ 24,000,000
notes
The 22-unit multifamily building sold for $24 million or $700 per square foot.
  • Event Retail leasing
  • Address 196 Orchard Street
  • Neighborhood Lower East Side
  • Borough Manhattan
  • Square feet 30,000
  • Event Financing
  • Address 140 West Street
  • Neighborhood Tribeca
  • Borough Manhattan
notes
A $390 million loan was arranged to convert the upper 22 floors of the office building into residential. 32-story
  • Event Financing
  • Address 389 East 89th Street
  • Neighborhood Yorkville
  • Borough Manhattan
  • Price $ 270,000,000
notes
Two mortgages totaling $270 million were arranged for the hotels. 2 hotels. Includes 385 First Avenue.
  • Event Sales
  • Address 140 West Street
  • Neighborhood Tribeca
  • Borough Manhattan
  • Price $ 274,000,000
notes
The upper portion of the building sold for $274 million, Crain's reported. The buyer plans to convert those floors to residential condos, according to the publication. Verizon will retain the bottom 10 floors.
  • Event Sales
  • Address Williamsburg portfolio
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 51,500,000
  • Event Sales
  • Address 195 Berry Street
  • Borough Manhattan
  • Price $ 51,500,000
  • Price per foot $ 445,000.00
notes
The package of residential properties sold for $51.5 million. The portfolio includes 44 condominium units at 195 Berry Street for $19.58 million, or about $445,000 per unit; 28 condos at 248 Bedford Avenue for $14.1 million, or about $503,000 per unit; and 12 townhouses at 129 North Third Street for $17.8 million, or about $1.5 million each.
  • Event Sales
  • Address East Village portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 49,000,000
  • Event Sales
  • Address 203 East 4th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Price $ 49,000,000
notes
A package of seven multifamily residential buildings sold for $49 million. The properties are located at 118, 120-122, 195, 199, 201 and 203 East 4th Street.
  • Event Sales
  • Address 163 Ludlow Street
  • Neighborhood Lower East Side
  • Borough Manhattan
  • Price $ 16,500,000
notes
The contiguous walk-up buildings with ground-floor retail sold for $16.5 million, the Lo-Down reported. Includes 165 and 167 Ludlow Street.
  • Event Retail Leasing
  • Address 504 East 12th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 400
  • Publication Date 10/01/2011
  • Event Date 08/22/2011
  • Party 1 Magnum Real Estate Group
  • Party 1 Brokerage New York Commercial Real Estate Services
  • Party 1 Broker Ken Brandman
  • Party 2 Brokerage New York Commercial Real Estate Services
  • Party 2 Broker Ken Brandman
notes
The sandwich shop signed a lease.
  • Event Retail Leasing
  • Address 504 East 12th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 600
  • Publication Date 08/01/2011
  • Event Date 06/22/2011
  • Party 1 Magnum Real Estate Group
  • Party 1 Brokerage New York Commercial Real Estate Services
  • Party 1 Broker Ken Brandman
  • Party 2 Rawvolution
  • Party 2 Brokerage New York Commercial Real Estate Services
  • Party 2 Broker Dean Valentino, James Famularo
notes
The raw and live food restaurant signed a lease.
  • Event Retail Leasing
  • Address 514 East 6th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 300
notes
The Asian specialty sandwich shop signed a lease.
  • Event Retail Leasing
  • Address 420 East 14th Street
  • Neighborhood East Village
  • Borough Manhattan
  • Square feet 1,400
notes
The dog boutique and pet-related retail store signed a lease for its third Manhattan location.
  • Event Retail Leasing
  • Address 133 West 22nd Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 2,316
notes
The holistic spa signed a lease for its flagship New York location.
  • Event Sales
  • Address 140 West 28th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 100,000
  • Price $ 50,000,000
  • Price per foot $ 500.00
  • Publication Date 05/01/2007
  • Event Date 03/22/2007
  • Party 1 140 West 28th Street Associates
  • Party 2 Magnum Real Estate Group
notes
Partners Benjamin Shaoul and Marc Ravner paid $50 million for a long-term ground lease and plan a 30-story boutique hotel.
Manhattan, 10009
514 E. 6TH STREET, LL
514 East 6th Street is a 17,836 square foot property built in 1910...
Manhattan, 10012
ELIZABETH REALTY ASSOCIATES LLC
166 Elizabeth Street is a 11,295 square foot property built in 1908 in...
Manhattan, 10010
340 EAST 24TH STREET LLC
332 First Avenue is a 11,543 square foot property built in the Kips...
Manhattan, 10009
120 ST. MARK'S LLC
120 St Marks Place is a 13,689 square foot property built in 1900...
Manhattan, 10013
Magnum Real Estate Group, ARMAN / 482 GREENWICH VENTURE, LLC
The sponsor(s) filed plans on 10/31/11 for a condo project at 482 Greenwich...
Manhattan, 10014
Magnum Real Estate Group, MAGNUM REAL ESTATE GROUP
This property is a new development. The developer(s) filed plans in October of...
Manhattan, 10011
Magnum Real Estate Group, YVES RETAIL LLC
The sponsor(s) filed plans on 05/09/07 for a condo project at 166 West...
Manhattan, 10010
MAGNUM REAL ESTATE GROUP, WINTER PROPERTIES, LLC
334 East 24th Street is a 119,234 square foot building in the Kips...
Manhattan, 10013
MAGNUM REAL ESTATE GROUP, LEONARD STREET OWNER LLC
The sponsor(s) filed plans on 11/28/12 for a condo project at 87-89 Leonard...
Manhattan, 10002
Magnum Real Estate Group, MB-REEC HOUSTON PROPERTY OWNER LLC
The sponsor(s) filed plans on 07/24/15 to test the market with a project...
Manhattan, 10009
SKY EAST LLC
...
Manhattan, 10002
CLINTON REALTY ASSOCI
...
Manhattan, 10009
515 EAST 5TH ST., LLC
...
Manhattan, 11215
31-33 2ND AVENUE OWNE
...
Manhattan, 10011
236 W. 16TH ST. LLC
...
Manhattan, 10012
228 MOTT ST. LLC
...
Manhattan, 10012
MOTT REALTY ASSOCIATE
...
Manhattan, 10002
LUDLOW 173 REALTY ASS
...
Manhattan, 10038
Magnum Real Estate Group, FRONT REALTY ASSO. LLC
254 Front Street is a 30,442 square foot building in the Financial District...
Manhattan, 10009
Magnum Real Estate Group, MM 62-74 AVENUE B OWNER, LLC
The sponsor(s) filed plans on 02/12/16 to test the market with a project...
Manhattan, 10025
WILLIAM MONTGOMERY, 270 HOLDING LLC
The sponsor(s) filed plans on 06/05/14 for a condo project at 270 Riverside...
Manhattan, 10009
Magnum Real Estate Group, PARTNERS VII/98 AVENUE A OWNER LLC
The sponsor(s) filed plans on 10/02/15 for a condo project at 100 Avenue...
Manhattan, 10013
Magnum Real Estate Group, LEONARD STREET OWNER LLC
...
Manhattan, 10002
MAGNUM REAL ESTATE GROUP, MB-REEC HOUSTON PROPERTY OWNER LLC
The sponsor(s) filed plans on 09/01/15 for a condo project at 196 Orchard...
Manhattan, 10003
118-120 EAST FOURTH O
118 East 4th Street is a walk-up building between Avenue B and Second...
Manhattan, 10007
Magnum Real Estate Group, 140 WEST STREET (NY), LLC
The sponsor(s) filed plans on 05/01/14 for a condo project at 140 West...
Manhattan, 10128
Magnum Real Estate Group, MF 389 EAST 89 LLC
The sponsor(s) filed plans on 12/10/14 for a condo project at 389 East...
Manhattan, 10010
Magnum Real Estate Group, MF 385 FIRST AVE LLC
The sponsor(s) filed plans on 12/11/14 for a condo project at 385 First...
Brooklyn, 11249
Magnum Real Estate Group, NORTH 3RD TOWNHOUSES LLC
248 Bedford Avenue is a 174,299 square foot building in the Williamsburg neighborhood...

...Other active Manhattan developers include Ben Shaoul’s Magnum Real Estate Group, the Chetrit Group, and the Elad Group. Still, any oversupply of inventory or a...

12/31/15
...West 57th Street, and even Ben Shaoul’s Magnum Real Estate Group is mulling a seven-figure ask at his redevelopment of the Verizon building at 140 West...

...buildings on the Lower East Side. Shaoul’s Magnum Real Estate Group clocked in at No. 10 on TRD’s list with 1.15 million square feet and 447 units...

...an $80-per-square-foot rent,” said developer Ben Shaoul of Magnum Real Estate Group. Shaoul just finished the lease-up of Williamsburg Social, a 72-unit project at 250 Bedford Avenue...
Manhattan, 10014
Magnum Real Estate Group, MAGNUM REAL ESTATE GROUP
This property is a new development. The developer(s) filed plans in October of...
Manhattan, 10010
MAGNUM REAL ESTATE GROUP, WINTER PROPERTIES, LLC
334 East 24th Street is a 119,234 square foot building in the Kips...
Manhattan, 10009
Magnum Real Estate Group, MM 62-74 AVENUE B OWNER, LLC
The sponsor(s) filed plans on 02/12/16 to test the market with a project...
Manhattan, 10009
Magnum Real Estate Group, PARTNERS VII/98 AVENUE A OWNER LLC
The sponsor(s) filed plans on 10/02/15 for a condo project at 100 Avenue...
Manhattan, 10013
Magnum Real Estate Group, LEONARD STREET OWNER LLC
...
Manhattan, 10007
Magnum Real Estate Group, 140 WEST STREET (NY), LLC
The sponsor(s) filed plans on 05/01/14 for a condo project at 140 West...
Manhattan, 10128
Magnum Real Estate Group, MF 389 EAST 89 LLC
The sponsor(s) filed plans on 12/10/14 for a condo project at 389 East...
Manhattan, 10010
Magnum Real Estate Group, MF 385 FIRST AVE LLC
The sponsor(s) filed plans on 12/11/14 for a condo project at 385 First...