CVS FYI

That 24/7 CVS in the base of the condoplex on the corner of Orchard and Houston opened over the Labor Day weekend (about a week later than advertised).

The drug chain joins Marshalls and an Equinox Fitness center as the retail tenants at this 11-story, 94-unit building.

In July, the developers behind 196 Orchard St., including Ben Shaoul’s Magnum Management, sold the retail portion of the building to the AR Global affiliate New York City REIT for an incredible $88.75 million, according to The Real Deal.

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

Previously on EV Grieve:
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

A CVS is coming to the corner of Houston and Orchard in Ben Shaoul's luxury condoplex

Report: retail portion of Ben Shaoul's luxury condoplex on Houston and Orchard sells for a whopping $88 million

In case you forgot that CVS is coming to Houston and Orchard

The CVS signage is in place here now in the base of the condoplex on the southeast corner of Orchard and Houston.

And as you can see, this will be another 24/7 outpost for the drug-store chain...



... which joins Marshalls at this 11-story, 94-unit building constructed in part with hand-laid, gilded-bronze brick imported from Cadaqués. An Equinox Fitness center has the upstairs space.



Last month, the developers behind 196 Orchard St., including Ben Shaoul’s Magnum Management, sold the retail portion of the building to the AR Global affiliate New York City REIT for — !!!! — $88.75 million, according to The Real Deal.

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

Previously on EV Grieve:
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

A CVS is coming to the corner of Houston and Orchard in Ben Shaoul's luxury condoplex

Report: retail portion of Ben Shaoul's luxury condoplex on Houston and Orchard sells for a whopping $88 million

Report: retail portion of Ben Shaoul's luxury condoplex on Houston and Orchard sells for a whopping $88 million

Developer Ben Shaoul and company have reportedly sold the retail space of its gold-dusted condoplex at 196 Orchard St. — whoa, brace! — for $88.75 million.

That's three retail tenants in total — the Marshalls, the coming-soon CVS and the Equinox on the upper two floors here along Houston between Ludlow and Orchard.

The Real Deal has the story:

The developers behind 196 Orchard Street, Ben Shaoul’s Magnum Management and Michael Miller’s Real Estate Equities Corp., sold the retail portion of the building to the AR Global affiliate New York City REIT, sources told The Real Deal. The sale price is $88.75 million, which makes it the most expensive deal for a retail condo in more than two years.

The price works out to more than $1,475 per square foot.

Back to TRD:

The deal is the most expensive sale of a retail condo since Savanna sold the retail portion of 10 Madison Square west for $97.5 million in the spring of 2017 to TH Real Estate (now Nuveen Real Estate).

This property here previously housed a single row of storefronts, including Ray's Pizza, Bereket and Lobster Joint. As Shaoul told the Times back in 2017, the small businesses that closed were "part of evolution ... You call it gentrification, I call it 'cleaning it up.'"

Shaoul and REEC bought the air rights from Katz's next door to help make this condoplex a reality.

A CVS is coming to the corner of Houston and Orchard in Ben Shaoul's luxury condoplex

Developer Ben Shaoul's gold-dusted condoplex at 196 Orchard St. has signed another retail tenant.

CVS is coming soon to the corner space here at East Houston Street...



The drug-store chain (FYI originally named the Consumer Value Store) joins the Marshalls in the retail spots of the 11-story, 94-unit building where residential units top out at $5.995 million.

Shaoul's luxury building, constructed in part with hand-laid, gilded-bronze brick imported from Cadaqués, also includes an Equinox Fitness center.

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

Previously on EV Grieve:
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

Marshalls opens today on Houston Street

As we've been noting (oh, here and here and here and here), Marshalls opens this morning at 8 (and until 10 p.m.) next to Katz's at 197 E. Houston St.



After this Debut Day, the Marshalls will be open Monday to Saturday 9:30 a.m. to 9:30 p.m.; Sunday 11 a.m. to 8 p.m.

The discount department store joins Equinox as the two retail tenants in the base of Ben Shaoul's condoplex here between Ludlow and Orchard.

And there is still ample retail space available where the helpful arrows are pointing ...



What might be next?

Previously on EV Grieve:
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


[EVG photo from April 2015]

Marshalls, now with more Marshalls signage on Houston; and so long sidewalk bridge

Workers yesterday removed the sidewalk bridge from outside 197 E. Houston/196 Orchard between Ludlow and Orchard... providing a better view of the incoming Marshalls ... well, at least the Marshalls signage...



The off-price department store chain is expected to debut on Oct. 4 at 8 a.m. here next door to Katz's...



Previously on EV Grieve:
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

Marshalls opening next month in Ben Shaoul's luxury condoplex on East Houston Street

The Grand Opening for Marshalls on East Houston is now Oct. 4

Here's your Marshalls signage on East Houston

Here's your Marshalls signage on East Houston

The Marshalls signage is now (mostly) visible over at 197 E. Houston between Ludlow and Orchard...



As noted on Monday, this location of the off-price department store chain opens on Oct. 4 at 8 a.m. in the retail space directly next to Katz's. Marshalls joins Equinox as the two retail tenants in the base of Ben Shaoul's condoplex built partly with gold-dusted bricks imported from Cadaqués.

Previously on EV Grieve:
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

Marshalls opening next month in Ben Shaoul's luxury condoplex on East Houston Street

The Grand Opening for Marshalls on East Houston is now Oct. 4

The Grand Opening for Marshalls on East Houston is now Oct. 4

Signs arrived over the weekend next to Katz's on East Houston about the grand opening for Marshalls... now apparently set for Oct. 4, one week later than previously announced...



As we first noted last month, the off-price sellers were set to open on Sept. 27 next door to Katz's in Ben Shaoul's hand-laid, gilded-bronze brick condoplex between Ludlow and Orchard streets.

Before!



Now!



It appears the entrance to Marshalls will be directly next door to Katz's...



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

H/T Mike Stuto!

Previously on EV Grieve:
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

Marshalls opening next month in Ben Shaoul's luxury condoplex on East Houston Street

Marshalls opening next month in Ben Shaoul's luxury condoplex on East Houston Street

The neighborhood is getting another big-box retailer with the arrival of Marshalls next month.

The off-price sellers will open on the East Houston Street side of Ben Shaoul's Katz's-adjacent condoplex between Ludlow and Orchard streets.

According to the Marshalls website (H/T EVG regular IzF!), this location — the seventh in Manhattan — opens on Sept. 27...



Back in May, BoweryBoogie reported on the rumor that a T.J. Maxx was slated for Shaoul's luxury building, constructed in part with hand-laid, gilded-bronze brick imported from Cadaqués. TJX, the parent company of both Marshalls and T.J. Maxx, apparently changed up brands for this space.

The 11-story, 94-unit building, officially 196 Orchard St., has units ranging in price from $1.075 million to $5.995 million. A three-level Equinox Fitness center is the other retail tenant here. (The Equinox branding recently arrived...)



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

Marshalls will join the recently opened Target location on 14th Street and Grand Street.

Previously on EV Grieve:
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

Construction (and gold-dusted brick) watch: 196 Orchard St.

An EVG reader who had been away for a little while wrote in to discuss Ben Shaoul's in-progress condoplex on East Hosuton between Ludlow and Orchard.

Per the reader: "Jesus — that is a monstrosity over Katz's."

Anyway, here are a few photos from Sunday showing the progress at the 11-story 196 Orchard St., which will include an Equinox in the retail space... it's nearly bricked all the way up — with windows too...



As for those bricks (as noted before), the developers allegedly went a long way for them...



Back in late January, Architectural Digest took a look-see at the project and heard from Adam Rolston, creative and managing director at INC. Architecture & Design.

“We felt that a traditional glass structure didn’t mesh with the surroundings,” says Rolston, who looked for a material humble enough to belong in the neighborhood that had been home to waves of immigrants over decades, but luxurious enough to attract a contemporary resident.

He found such a candidate in artisanal Spanish bricks infused with gold dust that will gradually oxidize and become darker over time. Produced by the 130-year-old manufacturer Cerámica La Covadonga, the bricks form the instantly recognizable lower exterior building façade and were flown in from the Spanish village of Cadaqués (also known for its anchovies, and a source of inspiration to the painter Salvador Dalí). They symbolize the eclectic and transformational nature of the neighborhood.

And...

Sixty-thousand bricks were used for the building, each infused with 24K-gold dust.

The homes here range from studios ($965,000) to four-bedroomers ($6.5 million).

Previously on EV Grieve:
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

Send a salami to your boy next door in the condo

Noted

The Robb Report checks in today with an update on Ben Shaoul's 11-story, 94-unit condoplex on East Houston at Orchard Street.

Adam Rolston, creative and managing director at INC. Architecture & Design, discusses the handmade glazed bricks that they imported from a small fishing village in Spain for this development.

Rolston wanted a handmade, metallic-glazed brick that would evoke the old-world character of glazed terra-cotta while also bringing a touch of luxury. He found it in Cadaqués, a small community in Spain formerly visited by artists such as Picasso and Miró. “We went to Europe to find a handmade, metallic-glazed brick — and specifically the Costa Brava of Spain where this particular handmade brick-making tradition survives,” Rolston says.

And!

The hand-laid, gilded-bronze brick — which reaches the second floor of the building — is infused with gold dust that becomes more golden over time as it oxidizes in the air. Imported directly from Cadaqués, the brick cannot be replicated in the United States, meaning that the building has a truly distinct and one-of-a-kind look.

The building will also benefit from a truly distinct and one-of-a-kind aroma from Katz's next door.

Previously on EV Grieve:
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

Send a salami to your boy next door in the condo

A look at 3 condoplexes rising — or topping out

Starting with...

1) 198 Orchard St. at East Houston Street...



Ben Shaoul's 11-story, 94-unit building has units ranging in price from $1.075 million to $5.995 million. And there will be an Equinox Fitness center here too. Previously.

2) 32 E. First St. at Second Avenue...



A 10-story, 33-unit condoplex (with ground-floor retail) on the site of the former BP station. No pricing for the homes just yet. Previously.



3) 80 E. 10th St. at Fourth Avenue...



A 10-story, retail-residential condoplex with 12 residential units. No pricing for the homes just yet. Previously.

Ben Shaoul's East Houston Street condoplex makes first street-level appearance

[Photo from Saturday]

It has been about two years since the demolition of the one-level row of storefronts on East Houston at Orchard Street... and now Ben Shaoul's incoming condoplex finally makes it above the plywood (aside from that steel beam).

Here's a look at the site from yesterday...







As noted, the available condos here in the 11-story, 94-unit building range from a 551-square-foot studio for $1.075 million to a 2,069-square-foot three-bedroom, three-and-a-half bathroom apartment asking $5.995 million. There will also be a three-level Equinox (gym) in the retail space.



Previously on EV Grieve:
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

Send a salami to your boy next door in the condo

196 Orchard's 'Culture & Cuisine'

An EVG reader asked if we had seen the stencils on the plywood at Ben Shaoul's incoming luxury condos on Houston and Orchard...



Residences ... culture & cuisine... It's part of the branding for the building, which will include a two-level Equinox (gym). The 196 Orchard website includes a 46-page digital publication/advertorial called "The Orchard Review." (You can access it here.)

Turn-of-the-century tenements with patina facades house biodynamic wine stores. The corner slice joint rubs elbows with the starred cuisine of Wildair and Contra. And a perfect date night is sharing a Katz's pastrami followed by a scoop of black sesame from Il Laboratorio del Gelato.

Anyway, the available condos here in the 11-story, 94-unit building range from a 551-square-foot studio for $1.075 million to a 2,069-square-foot three-bedroom, three-and-a-half bathroom apartment asking $5.995 million.

Work is still in the foundation stage, as a look through the blogger portals show...



Sales for the residences launched back in September. A few weeks ago, the Lo-Down asked a Ben Shaoul spokesperson how sales were going here. The response: "While sales have been robust with multiple units placed under contract since launching sales in mid-Fall of 2016, the Sponsor is not disclosing specific figures at this time."



Previously on EV Grieve:
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

Send a salami to your boy next door in the condo

Sales launch for Ben Shaoul's Katz's-dwarfing new condos

At the moment, the incoming 11-story condoplex on East Houston at Orchard is a foundation pit in progress...



In any event, sales got underway last week, as Curbed first noted.

Available condos, browsable on 196 Orchard’s website, range from a 551-square-foot studio asking $1.075 million to a 2,069-square-foot three-bedroom, three-and-a-half bathroom apartment seeking $5.995 million. Prices were initially poised to start off at just shy of $1 million, but it appears that the base price has been upped. With that, the average price per square foot in the building becomes a robust $2,325.

The building’s distinct setback design, a creation of project architect Ismael Leyva, will allow for some apartments to have private terraces. New renderings for the development that came along with the listings show off expansive outdoor spaces that give way to well-appointed interiors designed by Incorporated and decked out in finishes like Nero Marquina marble for the backsplashes, concrete on the nine- to twelve-foot ceilings, and blackened nickel on the kitchen sink faucets and hoses. Heck, the kitchens even have Franke in-sink garbage disposals — the real dream.

And here are two renderings via Curbed...





The condoplex features 94 units... as well as a three-level Equinox (gym) in the retail space.



On Friday, The Real Deal reported that Ben Shaoul’s Magnum Real Estate Group secured a $195 million senior construction loan from SL Green Realty for this development.

Previously on EV Grieve:
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

Send a salami to your boy next door in the condo

Weekend crane action with the 1st sign of Ben Shaoul's Orchard Street condoplex above ground

The crane crew has been set up on Orchard Street and East Houston ...and the steel beams are rising at Ben Shaoul's latest condoplex...

Look!



...and via the Blogger Portal...



As previously reported about 196 Orchard St., there will be 94 units — studios to three-bedroomers ... with pricing starting at just under $1 million and measuring from 555 square feet.

Shaoul's reps applied for a special permit through the city’s Board of Standards and Appeals to open a three-level Equinox (gym) in the retail space.

As BoweryBoogie noted this past week, the first floor of the proposed gym will include a reception area, lounge and juice bar with the second and third floors reserved for the usual gym stuff.

Shaoul's reps will appear before CB3's Land Use, Zoning, Public & Private Housing Committee on June 15 to discuss opening a "physical culture establishment" under the current zoning restrictions. Find more details (PDF) here.

Updated 6-5

An update on the work...



...hope the neighbors don't mind...



Previously on EV Grieve:
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

Send a salami to your boy next door in the condo