Gentrification

bereket-demolished-2

Beloved Bereket Beheaded by Ben Shaoul Ahead of 10-Story Condo Development

Posted July 6, 2015 at 5:00 am

Demolition is in full swing at the corner of East Houston and Orchard Streets, where the “Sledgehammer” himself, Ben Shaoul, is to deposit ten stories of luxury condo living. Victimized in this conversion from low- to high-rise were nearly a dozen stand-alone businesses, including a personal favorite. Bereket. Now, exactly one year after serving its last lentil […]

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55springstreet

This Self-Proclaimed ‘Former Gentrifier’ was Himself Gentrified Out and Needs a Home

Posted June 26, 2015 at 5:00 am

One self-proclaimed gentrifier in Nolita is himself being pushed out of the neighborhood. In an “urgent” plea posted to Craigslist, the anonymous resident seeks refuge in a better housing situation. The mainstream clarion call was listed under the “apts wanted” section of the classifieds. “When I arrived in New York City, the proud owner of a […]

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194orchard-digging

Ben Shaoul Makes Quick Work of 194 Orchard Demolition

Posted June 16, 2015 at 5:18 am

The former single-story home of the Leather Gallery was the last property to join Ben Shaoul’s nascent development portfolio on upper Orchard Street (for $8.8 million). Yet it’s the first to fall. The so-called “Sledgehammer” made quick work of 194 Orchard. Demolition lasted a mere two weeks last month, and the commercial building no longer […]

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Extell’s 250 South Street Goes Condo and Will Actually Ascend 80 Stories

Posted June 11, 2015 at 4:58 am

Despite assurances and permits to the contrary, Extell’s new market rate monolith at 250 South Street will in fact rise to nearly 80 stories (831 feet!). There had been some hope that the skyscraper would be reduced to a still-unwieldy 56 stories. For whatever reason, those plans are apparently kaput. Not only that, composition of […]

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Streets

75kenmare-maps

The Last Parking Garage on Kenmare Street Sells for Upwards of $50M

Posted June 8, 2015 at 9:23 am

The last parking garage on Kenmare Street is to fall in the name of luxury. Capitalizing on momentum from its $28.95 million invasion of Clinton Street, DHA Capital just dipped a proverbial toe into the swiftly upscaling neighborhood of Kenmare Street. The four-year-old development company is reportedly in contract to drop another cool $50 million on […]

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Photo: Kevin Gannon

Looking Back at a Decade of Demolition on Upper Orchard Street [PHOTOS]

Posted May 22, 2015 at 5:00 am

It was a slow death, but Ben “Sledgehammer” Shaoul finally cleared out the small businesses operating at the corner of Orchard and East Houston. A parcel for which he paid $75 million. Now, with the wrecking ball mid-swing, and ten floors of condos (plus an Equinox gym) in tow, we got to reminiscing. Yes. It’s […]

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extell-250south-update-1

Extell Begins Pouring Foundation at 250 South Street Site; West 8 Rumored Involvement

Posted May 19, 2015 at 9:21 am

For months, Extell Development Corp. has been pounding pylons for the new two-tower project at 250 South Street. A patchwork of iron beams dots the site; the beginning of the end. And now comes the first concrete of the project thus far. The foundation pouring began yesterday. Meanwhile, the rhythmic staccatto of hammering is impossible […]

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Streets

orchard-houston-darkness

Ben Shaoul Paid $75M for the Bereket Development Site at Orchard and East Houston [UPDATED]

Last modified April 21, 2015 at 2:44 pm

A year and a half later, Ben Shaoul finally closed on the deal to acquire the southeast corner of Orchard and East Houston. We’ve known all along that the notorious Sledgehammer was developing the corner plot, but now it’s official. The Real Deal picks up our story scraps and reports that Shaoul, along with Real […]

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The future of 57 Orchard St.

This Ugly Copper Condo Tower is Proposed for 57 Orchard Street

Posted April 16, 2015 at 9:47 am

The re-imagining of the Ridley Department Store building (aka Pink Building) on Orchard Street has taken a sudden turn to development. Developer Continental Worsteds, working in tandem with property owner Orchard Street Equities LLC, is in the planning stages to eliminate the stout 57 Orchard and replace it with a monstrous beast of gentrification. YIMBY […]

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50clinton-teaser

50 Clinton Luxury Development Debuts ‘Sales Gallery’ and Teaser Signage

Posted March 31, 2015 at 5:00 am

News regarding 50 Clinton Street is now a torrent. The one-story row of retail will imminently fall brick by brick to allow seven stories of luxury to muscle onto the scene. The insult added to that injury is the new teaser banner that advertises residences starting at a slender $975K. What a steal! And now that we […]

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