Thursday, July 23, 2015
Ben Shaoul sells 31-33 2nd Ave. for $29 million
[EVG file photo of the FRONT of the building]
Ben Shaoul has sold his recently created East Luxe rental building at 31-33 Second Ave. between East First Street and East Second Street for $29 million, The Real Deal reports.
The new owner is real-estate investor Sunny Yung, who owns a handful of properties via his Central Management Corp.
As The Real Deal notes, Shaoul bought the property for $5.6 million in 2011. He then added three floors to the existing building to make it an unrecognizable, 1970s-student-housing-inspired rental with 20 units.
by LuciaM via Panoramio]
According to Streeteasy, the average price of a rental here is $5,142. As previously noted, a Petco Unleashed is taking the building's retail space.
Shaoul's former rooftop-raging 62 Bloom on Avenue B is on the market for $80 million.
Previously on EV Grieve:
Ben Shaoul planning a 3-story addition at 31-33 Second Ave.
Bracing for 3 new floors at 31-33 Second Ave.
Checking in on the work in progress at 31-33 2nd Ave., where Ben Shaoul is adding 3 new floors
Ben Shaoul's bland new 2nd Avenue building is called The East Luxe
More about The East Luxe, Ben Shaoul's new 20-unit rental on 2nd Avenue