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    Ben Shaoul

    Managing Partner
    Magnum Real Estate Group
    594 Broadway, Suite 1010
    New York, NY 10012
    (212) 941-9399
    Website

    Ben Shaoul is the Managing Partner of Magnum Real Estate Group, which he formed in 1998 with financial backing from his parents.

    As of 2021, his 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.

    Shaoul has been criticized for contributing to the decline of rent-regulated apartments in the East Village, and was branded "Sledgehammer Shaoul" after being photographed with construction workers holding sledgehammers and crowbars in a building he had purchased.

    In 2014, Shaoul was sued by his parents for using the proceeds from the refinancing of co-owned assets to fund his development projects, but the dispute was settled out of court.

    Shaoul is married to Megan Walsh Shaoul, with whom he has three children: Henry, Piper, and Mayer.

    • Event Sales
    • Address 62 Avenue B
    • Neighborhood East Village
    • Borough Manhattan
    • Square feet 71,334
    • Price $ 85,000,000
    • Publication Date 10/01/2018
    • Event Date 09/24/2018
    • Party 1 Ben Shaoul
    • Party 2 Martin Shapiro
    notes
    The buyer acquired the East Village property for $85 million.
    • Event Sales
    • Address 166 West 18th Street
    • Neighborhood Chelsea
    • Borough Manhattan
    • Square feet 4,000
    • Price $ 6,600,000
    • Price per foot $ 1,650.00
    notes
    The retail component of the Yves Chelsea condo building sold for $6.6 million. The space is currently occupied by real estate brokerage Core NYC, whose lease runs through 2018.

    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...

    08/01/2017
    Landing the Soori High Line just four months after the firm took over sales at Tessler Development’s 172 Madison Avenue seemed to add to its momentum. But the publicity boost was short-lived. Later that morning, The Real Deal reported that developer Ben Shaoul had booted Compass off his 196 Orchard Street project, replacing it with industry behemoth Douglas Elliman...

    06/01/2017
    They were followed by Compass President Leonard Steinberg with $253 million in new-development listings â€' a chunk of them at Ben Shaoul’s 196 Orchard on the Lower East Side and the Foster + Partners-designed 100 East 53rd Street...

    02/24/2017
    In 2015, Corcoran Sunshine, Manhattan’s top new development marketing firm, was awash in new business. That year, its brokers picked up an unprecedented $10 billion-plus in In 2015, Corcoran Sunshine, Manhattan’s top new development marketing firm, was awash in new business. That year, its brokers picked up an unprecedented $10 billion-plus in...

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

    01/01/2016
    “There’s going to be tremendous growth in this neighborhood over the next 10 years,” said developer Ben Shaoul, whose firm Magnum Real Estate is converting 389 East 89th Street into condos...

    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
    Big names. Big projects. Big price tags. Despite being New York City’s smallest borough, Manhattan development has clearly grown to outsized proportions during the current construction Big names. Big projects. Big price tags. Despite being New York City’s smallest borough, Manhattan development has clearly grown to outsized proportions during the current construction...

    07/21/2015
    Joseph Chetrit and David Bistricer’s conversion of the former Cabrini Medical Center in Gramercy Park was the third-largest filing this past year at 223 units, with plans for a $813 million sellout at the four-building complex. Ben Shaoul’s 389 East 89th Street in Yorkville follows in fourth with 199 units and a planned sellout of $265 million...

    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...
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