Wednesday, December 16, 2015

$1 million will get you a studio at Ben Shaoul's new East Houston Street condoplex

The pricing for Ben Shaoul's incoming condoplex on East Houston and Orchard Street (the official address is 196 Orchard) is now available.

The Real Deal had the scoop yesterday:

Prices at Ben Shaoul’s new Katz Deli-adjacent condominium, designed by Ismael Levya Architects, will start at just under $1 million for studio apartments and $1.23 million for one-bedroom units, the developer tells The Real Deal.

With studio sizes starting at 555 square feet and one-bedroom homes starting at 655 square feet, that pegs the starting price per square foot above $1,800. The total blended price per square foot is likely to top $2,000 a foot, however.

And the latest rendering of the building, which will include an Equinox in the retail space, looks like...

The property on East Houston between Ludlow and Orchard previously housed a single row of storefronts, including Ray's Pizza, Bereket and Lobster Joint.

Meantime, no word yet if Ben will choose a naked-lady motif to sell the units like he is over at 100 Avenue A, where the residences will range in price from $1.3 million to $2.3 million.

While the units are more expensive here, you'll save money by joining Blink Fitness, the $25-amonth club that is taking the retail space in the building between East Sixth Street and East Seventh Street.

Previously on EV Grieve:
Someone threw black paint bombs at the naked women condo ad along 100 Avenue A

Making way for Ben Shaoul's new retail-residential complex on East Houston

Katz's is now the last business on East Houston between Ludlow and Orchard


Anonymous said...

I love the lighting. No price is too high for that kind of lighting.

Anonymous said...

That is a great deal actually. A true savings. I was expecting 2 million for a studio. The weird thing is back home on the west coast, 1 million would buy you a 2000 square foot house with a garage, pool, and backyard. Ironic isn't that New Yorkers will spend every dime they earn just to live in a box. Gotta love NYC kids.

DrBOP said...

Unfortunately I hear Benny is going with the Naked Greed Pig signage......

......a selfie.

Anonymous said...

A million for a studio - I guess it's true there's a sucker born every minute (with helicopter parents to "help out" financially).

Anonymous said...

1 Mill for a studio sounds ridiculous. Why not just rent? This is way over market.

Anonymous said...

Seriously...a million for a studio? Please explain.

chris flash said...

In 1995, local real estate broker Helen Miller (an eccentric lady who dressed like a "flapper" from the 1920s, who had an office on Essex Street) told me that the 10 lots that Shoal is now developing were available for $1m. That was $100k per property.

Real estate parasites like Shoal could not and would not be able to do their thing if the city dis-allowed zoning variances and other incentives that reward over-development of over-priced yuppie ghettos. The cherry the city puts on top of this is that while those units sit vacant awaiting the suckers to crawl in, Shoal can get a tax write-off!!