Interview: Developer Ben Shaoul on 196 Orchard Street, his Lower East Side condo rising next to Katz’s
Ben Shaoul founded Magnum Real Estate Group in 1999, focused on renovating small, rundown rental apartments. After growing its portfolio extensively over the past five years to includeretail properties, condos, and even a dormitory, the firm is now one of the city’s leading ground-up development companies. Their impressive portfolio includes 389 East 89th Street on the Upper East Side, 100 Avenue A in the East Village, and 100 Barclay in Tribeca, as well as their latest development that’s on the rise at 196 Orchard Street on the Lower East Side. Adjacent to the famed Katz’s Delicatessen, the building will ultimately top out at 11 stories tall and host 94 condos when it’s completed next year. CityRealty recently caught up with Shaoul to discuss the project, its design, and the ever-evolving Lower East Side.
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Agree that it is a nice looking building but totally disagree with the spin Shaoul puts on it that it has an exterior architecture that is fits in contextually with the neighborhood. No, it does not represent the neighborhood. No it does not fit in stylistically or historically with the LES, or pay tribute to its past. No, it does not provide to the streetlife. They are putting in a high end gym for elites. A gym does not replace the various eateries that were there before that were working class and open all day and night..