One tipster said that the sale was a done deal. Another source said that some behind-the-scenes employees in Shaoul's empire have openly been telling residents about the sale. No official word on the buyer just yet.
Shaoul's current East Village projects include the addition of the much-maligned 7-Eleven at 170 Avenue A as well as the residential conversion of the former Cabrini Center on East Fifth Street. It is not believed that these two properties are/were part of the deal. Ditto for his pool-topped A Building on East 13th Street.
Back in May, Shaoul, president of Magnum Real Estate Group, put his buildings at the recently renovated 118-122 E. Fourth St. on the market for $25 million. According to public records, 118 East 4th LLC bought the properties in November 2010 for $11.5 million. (The price is now down to $23.5 million.)
Here's a passage from a lengthy feature on Shaoul from The New York Times last July (the article includes quotes from EV Grieve):
Mr. Shaoul made his inauspicious East Village debut in 2006, the same year the 21-story Cooper Square Hotel broke ground and the legendary rock club CBGB closed.
In March of that year, he bought out members of an artists’ squat on St. Marks Place in order to turn the building into rental apartments. A neighborhood photographer snapped Mr. Shaoul, accompanied by sledgehammer- and crowbar-wielding construction workers, as he confronted some of the squatters. At some point the police were called in; the photographs soon circulated around the neighborhood.
The episode led the real estate blog Curbed to dub Mr. Shaoul “Sledgehammer Shaoul” and — although he was not actually holding a sledgehammer in any of the photos — the name and image have stuck. His reputation was reinforced as he renovated more buildings: rent-stabilized tenants in his buildings reported threats of eviction, and he racked up Department of Housing Preservation and Development complaints and violations for the interruption of heat and hot water, blocked fire escapes, broken locks and other issues related to construction and maintenance.
Shaoul's expanding portfolio reportedly includes properties in TriBeCa, the West Village, Harlem, the Financial District and on the Lower East Side and Upper East Side.
Much more as details become available.