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This image has been archived or removed.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This image has been archived or removed.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This image has been archived or removed.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

East Broadway Subway Station Turns 85

The East Broadway subway station wasn’t always a shady dungeon attracting crime. Once upon a time, the transit stop inspired celebrations across the Lower East Side. It was exactly eighty-five years ago – January 1, 1936 – that the East Broadway subway station debuted to the public. The feat of subterranean engineering, then known as […]

Looking at the New Ludlow House Annex Atop Demolished Libation Site

Well, that was quick. With Libation excised from the Lower East Side, the hole is now filled. Taken over by Ludlow House. The building at 137 Ludlow Street was demolished last year, and replaced in a matter of months. In fact, it’s already operational. The architecture of this one-story newcomer mirrors design elements of its […]

Stringer Promises ‘Fair Share’ of PPP for City Businesses

City Comptroller (and mayoral candidate) Scott Stringer held a press conference yesterday at the Chinatown kiosk on Canal Street, announcing a plan to funnel federal Payroll Protection (PPP) dollars to New York city businesses. It certainly triggered an uncomfortable memory of last year’s PPP fiasco. The first round of PPP went into effect just a […]

‘Open Streets’ Town Hall Yields More Questions than Answers

Tuesday night’s Town Hall on Open Restaurants and Open Streets, hosted by Community Boards 3 and 6 – left residents with more questions than answers regarding the long-term impact these pandemic-era health and economic neighborhood solutions have on a post-COVID city. However, the online meetup did bring a wide scope of information in terms of […]

Unused Half of Bowery’s Sunshine Hotel Flophouse Available to Rent

The leasing banner has been strung from the facade of 241 Bowery for more than two years. Without much success. The second and third floors (combined 8,938 square-feet) – once part of the Sunshine Hotel flophouse – are again on the market. And at a hefty price: $6,495 for a “raw” space that requires renovations […]