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

Posted on: April 21st, 2015 at 5:10 am by
This image has been archived or removed.

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 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 Estate Equities Corp., purchased the assemblage of one-story stores for a combined $108 million.

UPDATE: The Real Deal listed the incorrect price. It was sold for $75 million. Still astounding, though.

That’s not a typo. The sale price includes the four properties on the corner and the air rights from Katz’s Deli, which remains unaffected by the deal.

The purge of businesses began last year, and continued right up through last week, when Karaoke Boho and 200 Orchard bar were both booted. Some of the commercial tenants were able to relocate (Taqueria, Empanada Mama, Karaoke Boho), while others were’nt so lucky.

As previously reported, a ten-story (120 feet) mixed-use tumor is planned for the development site. The project boasts 94,923 square-feet of residential area and a commercial footprint of 13,463 square-feet. There will be 83 dwelling units and community facility space for a “physical culture establishment” (possibly a for-profit gym which isn’t typically allowed). Retail is part of the equation, as well.

The building fronts 100 feet along East Houston Street and roughly 120 feet along Orchard Street.

Recent Stories

One Year Later, ‘Fiore Escape’ COVID Sessions Still Captivate

One year after first captivating passersby at Essex and Grand Streets, the free fire escape concert series is back for another. Indeed, musician Jill Fiore will perform anew from the second floor of her Essex Street tenement (above Delancey Car Service). The next so-called “Fiore Escape” show is slated for October 15, as announced on […]

Parks Department Installs Fence at Allen Mall Bathhouse in Response to Nadja Rose Madder

The Parks Department is upping the ante on deterring a homeless artist from painting and gathering at the Allen Street Bathhouse. Earlier this week, the city began assembling an eight-foot chain-link enclosure to (partially) fence in the sidewalk plaza. It is on this spot that transgender artist Nadja Rose Madder has been transforming the brickwork […]

Extell Residents in Cherry Street Tower Bark Foul Over Abundance of Dogs Despite No Pet Policy

Residents of Extell’s “affordable tower” at 227 Cherry Street are barking foul over the proliferation of pitbulls, despite the no-pet policy. We are told by current tenants that leases contain a strict stipulation prohibiting pets in apartments, and that management (Wavecrest) seems deaf and/or slow to act about the apparent violations. By some estimates, there […]

Aggro Panhandler Hurls Brick at Pickle Guys Worker in Brutal Attack

An aggro panhandler outside Pickle Guys on Grand Street attacked an employee after he was asked to move away from the store entrance, cops said. The suspect had been aggressively begging at around 8:20am last Wednesday when the 63-year-old worker told him to disperse. That didn’t sit well; the pugilist picked up a nearby chair […]

Educational Alliance Executive Becomes New Head of Manhattan JCC

From the Lower East Side to the Upper West Side. Rabbi Joanna Samuels, the sitting executive director of the Manny Cantor Center at the Educational Alliance, is set to become the new chief executive director of the Marlene Meyerson JCC Manhattan. Her new gig begins early next year, marking a significant transition at one of […]