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    Magnum Real Estate Group

    594 Broadway, Suite 1010
    New York, NY 10012
    (212) 941-9399
    Website
    [email protected]

    Magnum Real Estate Group is a New York City-based development firm and property management company established by Ben Shaoul in 1998 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.

    As of 2021, the firm boasted a $4 billion portfolio across 80 developments. 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 converted to condominiums.

    Magnum has also been a pioneer in moving real estate to the blockchain by closing several deals through bitcoin.

    Magnum Real Estate Group, Managing Partner
    594 Broadway, Suite 1010, New York, NY, (212) 941-9399
    Ben Shaoul is the Managing Partner of Magnum Real Estate Group, which he...
    • Event Financing
    • Address 196 Orchard Street
    • Neighborhood Lower East Side
    • Borough Manhattan
    • Price $ 26,000,000
    • Publication Date 10/25/2019
    • Event Date 10/21/2019
    • Party 1 Magnum Real Estate Group
    • Party 2 Labini Investments
    notes
    The owner secured a loan of $26 million for the Lower East Side property.
    • 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
    notes
    Partners Benjamin Shaoul and Marc Ravner paid $50 million for a long-term ground lease and plan a 30-story boutique hotel.
    Brooklyn, 11249
    MAGNUM REAL ESTATE GROUP, NORTH 3RD TOWNHOUSES LLC
    The sponsor(s) filed plans on 10/21/08 for a condo project at 195-205 Berry...
    Brooklyn, 11249
    MAGNUM REAL ESTATE GROUP, NORTH 3RD TOWNHOUSES LLC
    The sponsor(s) filed plans on 10/21/08 for a condo project at 195-205 Berry...
    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, 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, 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, 10010
    MAGNUM REAL ESTATE GROUP, WINTER PROPERTIES, LLC
    334 East 24th Street is a 119,234 square foot building in the Kips...
    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, 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, 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...

    06/01/2018
    Against that backdrop, at least one developer pulled the plug 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 â€' known as Liberty Toye â€' for $85 million to an unidentified buyer who plans to keep the project as a rental...

    02/24/2017
    Elliman had a nearly-identical drop in new business, picking up just $2 billion in exclusives. Compass, which picked up over $1.5 billion in exclusives in 2015, landed only one approved Manhattan project in 2016, Magnum Real Estate Group’s 196 Orchard Street...

    09/01/2016
    Other active Manhattan developers include Ben Shaoul’s Magnum Real Estate Group, the Chetrit Group, and the Elad Group...

    12/31/2015
    The apartment at 550 Madison Avenue is set to take the cake as the most expensive listing in New York City (and its biggest, at 21,000 square feet.) And other developers followed suit: The Zeckendorf brothers are asking $130 million for a triplex penthouse at 520 Park Avenue, JDS Development Group and Property Markets Group are reportedly going to launch $100 million-plus penthouses at 111 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 Street...

    09/01/2015
    Shaoul’s Magnum Real Estate Group clocked in at No...

    11/01/2013
    To make a Manhattan rental work, “you would have to build in a location now that will yield an $80-per-square-foot rent,” said developer Ben Shaoul of Magnum Real Estate Group...
    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, 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...
    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...
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