When Ben Shaoul’s Magnum Real Estate Group shelled out $270 million for two luxury rental buildings in the Upper East Side and Gramercy last year, it was only a matter of time until they became condos. Now construction is moving along at 385 First Avenue in Gramercy, and the property has a teaser site and a new name: Luminaire.
Since YIMBY revealed Magnum Real Estate Group’s plans for 196 Orchard Street back in February, Real Estate Equities has partnered with Magnum to develop the 10-story, 83-unit mixed-use building. The two developers will soon close on the assemblage for $108 million, reports The Real Deal. Demolition of the existing single-story buildings should follow.
Back in November, YIMBY posted about the first permits to be filed for a new 10-story residential development coming to 196 Orchard Street, on the Lower East Side. The site is located next to Katz…
Hot off the success of JDS and Property Markets Group’s Walker Tower conversion in Chelsea (one of the penthouses, asking $47.5 million, just entered into contract) and their smaller Stella Tower uptown, another developer is trying their…
Earlier this year, Bowery Boogie connected the dots regarding some recent land and air rights sales at the corner of East Houston and Orchard Street, on the block housing the famous Katz’s Deli. They speculated that Ben…