[EVG file photo]
In a discussion on "The Stoler Report" last summer, developer Ben Shaoul, president of Magnum Real Estate Group, mentioned that he was looking to sell his current "conversion of a nursing home" in a year or two.
Apparently the time is here. The Post reports that Bloom 62 on Avenue B and East Fifth Street — the former Cabrini Center for Nursing and Rehabilitation — "is being shown to investors and expected to sell for roughly $70 million."
In December 2011, Shaoul and company purchased Cabrini for $25.5 million from a family trust made up of the estates of Jacob W. Friedman and Sol Henkind. Cabrini closed for good on June 30, 2012.
The 240-bed Cabrini Center for Nursing and Rehabilitation — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provided health care for low-income elderly residents in the East Village. The center opened in 1993 and served 240 patients and employed nearly 300 employees.
At Bloom 62, four-bedroom apartments for upwards of $7,600 ... in the upscale
The Post also mentions that "one retail unit in the process of being leased."
Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos
Report: Local politicians reach out to Ben Shaoul as re-sale of the Cabrini Nursing Center seems likely
More details on Cabrini's closing announcement
Q-and-A with Patricia Krasnausky, president and CEO of Cabrini Eldercare