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196 Orchard Street

196 Orchard Street
New York, NY 10002
718-416-1657
Residential, Sales, Condo, Multifamily

The sponsor(s) filed plans on 09/01/15 for a condo project at 196 Orchard Street with 83 residential units. The sponsor(s) were approved to market the units for sale on 05/16/16. TRData has determined that the sponsor(s) have sold more than 80 percent of the sponsor units in the building.

  • Address 196 Orchard Street
  • neighborhood Lower East Side
  • borough Manhattan
  • owner Magnum Real Estate Group
  • developer MAGNUM REAL ESTATE GROUP
  • owner entity MB-REEC HOUSTON PROPERTY OWNER LLC
  • architect Audrey Matlock Architects
  • sales/marketing Compass
  • PLANS DISCLOSED 09/01/2015
  • DOB FILE PLANS 11/14/2014
  • DOB FILE Link
  • LIST/LAUNCH SALES 05/16/2016
  • height in feet 120
  • floors 10
  • AG Initial Price $ 206,981,000
  • ag file plans 09/01/2015
  • AG FILE Link
  • residential units 83
  • commercial units 0
  • hotel units 0
  • total units 169
  • square feet 113,246
  • const. status CONDO COMPLETE
  • block and lot 1-00412-0012
  • BIN 1005396
  • 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 Retail leasing
  • Address 196 Orchard Street
  • Neighborhood Lower East Side
  • Borough Manhattan
  • Square feet 30,000
  • Event Sales
  • Address 194 Orchard Street
  • Neighborhood Lower East Side
  • Borough Manhattan
  • Price $ 3,000,000
  • Price per foot $ 325.00
  • Publication Date 12/01/2012
  • Event Date 10/22/2012
  • Party 1 Brokerage Besen & Associates
  • Party 1 Broker Bobby Khurana
  • Party 2 Brokerage Besen & Associates
  • Party 2 Broker Hilly Soleiman
notes
The property sold for $3 million, or $325 per buildable square foot. The property, which is being delivered vacant, has 9,220 buildable square feet.

06/01/2018
(Illustration by Nate Kitch) The Manhattan condo market is starting to feel like the beauty counter in a fancy department store â€' with everyone from (Illustration by Nate Kitch) The Manhattan condo market is starting to feel like the beauty counter in a fancy department store â€' with everyone from...

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...

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...
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