Tuesday, September 25, 2018
Report: Ben Shaoul sells Liberty Toye/Bloom 62 on Avenue B for $85 million
[EVG photo from April]
Ben Shaoul's deal to sell his residential conversion at 62 Avenue B at Fifth Street is apparently official.
The Real Deal reported last evening that Bronx-based investor Martin Shapiro bought Shaoul’s Liberty Toye/Bloom 62 apartment building for $85 million. Shapiro plans to keep it as rentals.
This officially ends Shaoul's nearly seven tumultuous years owning the former Cabrini Nursing Center, which shut down in June 2012. The 240-bed center — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provided health care for low-income elderly residents in the East Village. Shaoul reportedly paid $25 million for the property and closed down Cabrini.
Apartments at the new Bloom 62 — "the right place to plant your roots" — arrived in the spring of 2013, with prices topping out at $7,600 for a four-bedroom apartment. Despite the upgrades, some people thought that the units still looked like nursing home rooms, though with better lighting.
Under Shaoul's watch, the rental building gained a reputation for its rooftop DJ parties that annoyed neighbors. Shaoul finally cracked down on the ragers in the summer of 2015.
Shaoul attempted to sell the building several times — $72 million in 2014 ... and $80 million in 2015.
Last November, Shaoul decided to go condo with the property, renaming the building Liberty Toye, and renting a sales office from convicted felon Steve Croman.
Previously on EV Grieve:
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
A look at the 'Hip young crowd planting roots at Bloom 62'
Have you heard the rooftop parties at Ben Shaoul's Bloom 62? (52 comments)
Ben Shaoul looks to make a whole lot of money converting nursing home into high-end housing
More details on Ben Shaoul's condo conversion Liberty Toye, where you can buy with bitcoins
Sales underway for Ben Shaoul's Liberty Toye — at the 'crossroads that cradled the Culture of Cool'