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.


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...

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...

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...

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...

02/28/17
...In a rare move in new development marketing, Magnum Real Estate Group changed the name of its 385 First Avenue condo conversion project from the Luminaire to...

02/28/17
...records. Several developers -- including Taconic Investment Partners , Magnum Real Estate Group and Cogswell Lee Development -- are betting big on the Lower East Side, saying...

02/24/17
...in 2015, landed only one approved Manhattan project in 2016, Magnum Real Estate Group’s 196 Orchard Street. CORE’s haul fell to just one small Harlem project, and...

02/15/17
...-unit project from the venture capital-backed firm, developer Magnum Real Estate Group confirmed. The project, at 385 First Avenue, officially launched sales in April 2016. Magnum CEO Ben...

01/16/17
...Street.  The company partnered with Ben Shaoul’s Magnum Real Estate Group to develop a condominiums at 196 Orchard Street in the Lower East Side. The firms...

01/16/17
...Associates. Ben Shaoul Ben Shaoul Founder and president, Magnum Real Estate Group There are a slew of luxury condo projects coming up on the Upper East...

12/13/16
...project: it is partnering with Ben Shaoul’s Magnum Real Estate Group at 100 Barclay, the $915 million conversion of the former Verizon building at 140 West Street into...

12/09/16
...East 24th Street to Invesco Properties. Shaoul’s Magnum Real Estate Group and Winter built the 14-story, 146,000-square-foot dorm in 2013, but the one-time squatter-chasing landlord has...

11/15/16
...in Kips Bay from a partnership led by Magnum Real Estate Group and Winter Properties for $174 million, according to property records filed with the city Tuesday...

11/07/16
...year, has done designs for Ben Shaoul’s Magnum Real Estate Group, Jason Lee’s Six Sigma NYC and Michael Shah’s Delshah Capital, among others...

11/03/16
...this story. In one instance, Ben Shaoul’s Magnum Real Estate Group replaced Elliman with Corcoran at 100 Barclay Street, prompting speculation that the on-site sales staff...

09/29/16
...Tribeca. LLNYC joined Ben Shaoul, the president of Magnum Real Estate Group, along with CIM Group and Corcoran Sunshine Marketing Group, to sip tequila cocktails and...

09/26/16
...development marketing firms. In April, Ben Shaoul’s Magnum Real Estate Group tapped Corcoran Sunshine to market the pricey condos at 100 Barclay, replacing Douglas Elliman. “You...
  • 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 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 Williamsburg portfolio
  • Neighborhood Midtown
  • Borough Brooklyn
  • Price $ 51,500,000
  • 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 East Village portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 49,000,000
  • 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 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 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 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.
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SKY EAST LLC
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Manhattan, 10002
CLINTON REALTY ASSOCI
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515 EAST 5TH ST., LLC
...
Manhattan, 11215
31-33 2ND AVENUE OWNE
...
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236 W. 16TH ST. LLC
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Manhattan, 10012
228 MOTT ST. LLC
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Manhattan, 10012
MOTT REALTY ASSOCIATE
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Manhattan, 10002
LUDLOW 173 REALTY ASS
...
Manhattan, 10038
MAGNUM REAL ESTATE GROUP, FRONT REALTY ASSO. LLC
...
Manhattan, 10009
Magnum Real Estate Group, MM 62-74 AVENUE B OWNER, LLC
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Manhattan, 10025
WILLIAM MONTGOMERY, 270 HOLDING LLC
...
Manhattan, 10009
MAGNUM REAL ESTATE GROUP, PARTNERS VII/98 AVENUE A OWNER LLC
...
Manhattan, 10013
Magnum Real Estate Group, LEONARD STREET OWNER LLC
...
Manhattan, 10002
MAGNUM REAL ESTATE GROUP, MB-REEC HOUSTON PROPERTY OWNER LLC
...
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 building at 100 Barclay Street with an alternate address at 140 West...
Manhattan, 10128
MAGNUM REAL ESTATE GROUP, MF 389 EAST 89 LLC
389 East 89th Street, or Post Toscana, is a 31-story, 199-unit high-rise apartment...
Manhattan, 10010
MAGNUM REAL ESTATE GROUP, MF 385 FIRST AVE LLC
385 First Avenue, or Post Luminaria, is a 138-unit apartment high-rise in the...
Brooklyn, 11249
QUADRIAD DEVELOPMENT PARTNERS, QUADRID REALTY PARTNERS
Williamsburg Social, formerly known as Williamsburg Terrace, is an apartment building and townhome...

...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, 10013
MAGNUM REAL ESTATE GROUP, ARMAN / 482 GREENWICH VENTURE, LLC
482 Greenwich Street is a 17,097 square foot property built in 2011 in...
Manhattan, 10014
Magnum Real Estate Group, MAGNUM REAL ESTATE GROUP
81 Charles Street is a 4,680 square foot property in the West Village...
Manhattan, 10011
MAGNUM REAL ESTATE GROUP, YVES RETAIL LLC
...
Manhattan, 10010
MAGNUM REAL ESTATE GROUP, MAGNUM REAL ESTATE GROUP
...
Manhattan, 10013
MAGNUM REAL ESTATE GROUP, LEONARD STREET OWNER LLC
...
Manhattan, 10002
MAGNUM REAL ESTATE GROUP, MB-REEC HOUSTON PROPERTY OWNER LLC
...
Manhattan, 10038
MAGNUM REAL ESTATE GROUP, FRONT REALTY ASSO. LLC
...
Manhattan, 10009
Magnum Real Estate Group, MM 62-74 AVENUE B OWNER, LLC
...
Manhattan, 10025
WILLIAM MONTGOMERY, 270 HOLDING LLC
...
Manhattan, 10009
MAGNUM REAL ESTATE GROUP, PARTNERS VII/98 AVENUE A OWNER LLC
...
Manhattan, 10013
Magnum Real Estate Group, LEONARD STREET OWNER LLC
...
Manhattan, 10002
MAGNUM REAL ESTATE GROUP, MB-REEC HOUSTON PROPERTY OWNER LLC
...
Manhattan, 10007
MAGNUM REAL ESTATE GROUP, 140 WEST STREET (NY), LLC
The building at 100 Barclay Street with an alternate address at 140 West...
Manhattan, 10128
MAGNUM REAL ESTATE GROUP, MF 389 EAST 89 LLC
389 East 89th Street, or Post Toscana, is a 31-story, 199-unit high-rise apartment...
Manhattan, 10010
MAGNUM REAL ESTATE GROUP, MF 385 FIRST AVE LLC
385 First Avenue, or Post Luminaria, is a 138-unit apartment high-rise in the...
Brooklyn, 11249
QUADRIAD DEVELOPMENT PARTNERS, QUADRID REALTY PARTNERS
Williamsburg Social, formerly known as Williamsburg Terrace, is an apartment building and townhome...
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