Ben Shaoul Rolls Out the Pile Driver for New 10-Story Condo Development on Orchard Street

Posted on: October 27th, 2015 at 5:17 am by
This image has been archived or removed.

With destruction complete, the Sledgehammer is now in construction mode. Ready to deliver ten floors of luxury condos steps west of Katz Deli.

Excavation work just resumed at the project site within the last couple weeks, including the arrival of a backhoe and three-story pile driver.

The dirt pit at the corner of Orchard and East Houston Streets had been stagnating for a couple months. Much of that hiatus is owed to a lawsuit against residents of the notorious Rat Castle at 179 Ludlow. The condo board decided not to grant access to the building for what Shaoul called “non-invasive pre-construction survey, installation of monitoring devices and access to maintain and then remove those devices, and any other code-required protections that serve to protect occupants and property.”

The controversial landlord instead responded with legal proceedings. But apparently that’s all in the past now.

This image has been archived or removed.

The forthcoming ten-story (120 feet) mixed-use tumor – carrying the address of 196 Orchard – boasts 94,923 square-feet of residential area and a commercial footprint of 13,463 square-feet. There will be 83 apartments and an Equinox gym facility. Retail is part of the equation, as well.

Ben Shaoul, along with Real Estate Equities Corp., together purchased this gargantuan assemblage of single-story stores for a combined $75 million. And lest we forget the air rights from Katz’s Deli. This sale was rumored for nearly a year, but didn’t actually close until last April. Shaoul’s acquisition was made possible thanks to a cash injection of $97 million from SL Green.

This image has been archived or removed.

Ben Shaoul’s wet dream at 196 Orchard St.

Recent Stories

Game Over for ‘Water World Amusements’ Arcade on Essex Street

Much like the movie of same, Water World Amusements unceremoniously sunk. The arcade, which opened just over a year ago at 35 Essex Street, is no more. Gaming cabinets remain locked in the dark retail space, while leasing signage dominates the store marquee. That this game room failed to hit is not a shock. Water […]

‘Greens and Grains’ Shutters, While Famous Hakki Readies Essex Chicken Spot

Greens and Grains is no more after a year in business, as Hell Square eats another of its own. Instead, the so-called Pizza Champion is opening a chicken-focused eatery. Hakki Akdeniz, who owns a plethora of pizzerias around the neighborhood, is planning to open Essex Chicken at 115 Essex Street. Just a few doors down […]

La Pecora Bianca to Open Another Outpost at Former Delicatessen Space on Prince Street

Delicatessen shuttered suddenly last month after eleven years in Little Italy. However, its demise is actually months in the making, and with a big-name takeover on the way, to boot. The 2,000 square-foot corner space at 265 Lafayette (aka 54 Prince) is to become the third Manhattan outpost of La Pecora Bianca. And renovations are […]

Zara Looks to Legalize its Oversized SoHo Flagship Store

The flagship Zara store on Broadway is hoping to legalize its SoHo footprint by altering the current zoning. Zara, which purchased the commercial condo at 503 Broadway in 2015 for $284 million, occupies a much larger footprint than what is permitted under the current zoning. (Former location of Old Navy from 1998 to 2015.) Once […]

Does this East Broadway Traffic Pattern Change Alleviate Bridge Congestion?

As part of the effort to address the logjam to the Williamsburg Bridge, there was a previous update to the traffic pattern near the Lower East Side on-ramp. Motorists can no longer turn onto Clinton Street from East Broadway during nighttime hours. New signs have been in place beside the signals. But has this simple […]