31-33 2nd Ave. is on the market — for $40 million

A sales listing for 31-33 Second Ave. arrived on LoopNet earlier this month.

There's not much info about the property here between First Street and Second Street:

Fully occupied new construction mixed use building, consisting of 20 luxury residential units and 1 commercial unit, in prime East Village.

The prince tag is a whopping $40 million.

Developer Ben Shaoul bought this property for $5.6 million in 2011. At that time, it looked like this...



The generic-looking luxury rental that later emerged on the site with three extra floors was called the Luxe East.

In 2015, he sold it for $29 million to real-estate investor Sunny Yung, The Real Deal reported.

According to Streeteasy, the average rental in the elevator building with central air is $5,300.

The Unleashed by Petco in the retail space closed last month after two-plus years in business.

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

Unleashed by Petco is unloading its pet supplies as store is closing on 2nd Avenue

After two-plus years at 31-33 Second Ave., the Unleashed by Petco shop is shutting its doors.

Sale — Nothing held back! — signs are up in the windows, as this photo by EVG reader EJ show. An employee said that Jan. 23 is their last day here between Second Street and Third Street in the retail space of the East Luxe rental building. Not sure at the moment why this Unleashed is closing.

The specialty retailer of pet food, supplies and services opened here in August 2015.

The San Diego-based retailer operates more than 1,500 stores in the United States under the Petco and Unleashed by Petco names.

Developer Ben Shaoul bought this property for $5.6 million in 2011. He later added three floors to the existing building … then unloaded it for $29 million to real-estate investor Sunny Yung.

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


[Photo of 31-33 Second Ave. from 2009]

New Petco ready to be Unleashed on Aug. 31

The signs are up in the retail space at 31-33 Second Ave., aka The Luxe East, where an Unleashed (by Petco) outlet has been in the works.

Signs on the door now point to an Aug. 31 opening here between East Second Street and East First Street...



What is Unleashed?

As pet stores go, we’re anything but ordinary. Unleashed by Petco hit the pet scene in 2009, with our first store in San Diego’s Hillcrest neighborhood. Our concept is simple – provide the same knowledge and know-how offered by Petco in a unique, smaller package.

This location will also include dog training…



Developer Ben Shaoul bought this property for $5.6 million in 2011. He then added three floors to the existing building … and unloaded it for $29 million.

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.

[Photo from 2009 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

Pet store signage unleashed on Second Avenue

EVG reader Christina passes along photos of the new signage that has arrived at 31-33 Second Ave., aka The Luxe East, Ben Shaoul's new retail-residential complex here between East Second Street and East First Street...

As you can see the storefront will be an Unleashed (by Petco) outlet...



What is Unleashed?

As pet stores go, we’re anything but ordinary. Unleashed by Petco hit the pet scene in 2009, with our first store in San Diego’s Hillcrest neighborhood. Our concept is simple – provide the same knowledge and know-how offered by Petco in a unique, smaller package.

Anyway, perhaps the storefront will help residents determine whether they are looking at the front or the back of the building.

BoweryBoogie first reported that a Petco-branded store was set for the retail space.

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

Ben Shaoul's East Luxe is all sold out

[EVG file photo of the FRONT of the building]

A news release about Ben Shaoul's new 20-unit rental building at 31-33 Second Ave. between East First Street and East Second Street via the EVG inbox…

Platinum Properties, a New York-based full-service brokerage firm has announced today that it has now rented 100% of The East Luxe, a 20-unit East Village boutique rental building at 31-33 Second Avenue, in just 16 weeks on the market.

To note: Platinum Properties rented 11 of the 17 originally available units directly and six via co-broking with outside agents. It took approximately three months—most of which were rented during the winter, a traditionally slow time — to completely rent out the two and three-bedroom units and one month to rent out the four bedroom apartments.

“In the East Village/Bowery area there is a lack of new construction or rehab projects of this nature. Just having an elevator building with extremely highend finishes in such a central location has made the building a stand out,” says Khashy Eyn, CEO, Platinum Properties.

As previously noted, a Petco is taking the building's retail space.

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

More about The East Luxe, Ben Shaoul's new 20-unit rental on 2nd Avenue

Just last Friday we pointed out that Ben Shaoul's new rental building at 31-33 Second Ave. had a fancy name to go with the 1970s-student-housing architecture — The East Luxe.

For more, we turn to the news release that arrived yesterday from the brokerage firm brokering the new building:

Completely renovated and redesigned, the 20-unit building offers one bedrooms through four bedroom apartments with slated occupancy for the beginning of 2015. The building, which offers units starting at $4,235 and your 2nd month of rent free, has an elevator and landscaped roof deck with views of the Empire State Building, Chrysler Building, and the Manhattan Bridge. Each unit is appointed with condo finishes offering washer and dryer units in each apartment, stainless steel appliances, granite countertops, and marble bathrooms.

"The East Luxe is a true gem in the East Village," says Khashy Eyn, Founder/CEO of Platinum Properties. "We are excited to represent this boutique luxury property, which is distinct from any rental building that is currently on the market."

Distinct from any rental building that is currently on the market maybe ... not unlike Ben Shaoul's Bloom 62, which lists similar amenities.

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

Ben Shaoul's bland new 2nd Avenue building is called The East Luxe

Back in July crews finished adding 3 new floors in the total remake of 31-33 Second Ave., which is now a charmless grey box. Perhaps to compensate for the bland exterior here between East Second Street and East First Street, Ben Shaoul's rental building is sporting an upscale name — The East Luxe.

And listings for the units arrived on the market yesterday. According to Streeteasy, there are eight active listings for the 2- and 3-bedroom apartments with an average piece of $5,200.

Here's a look at a listing via Platinum:

Introducing The East Luxe - Brand New Boutique Elevator Building In Prime East Village

Condo-quality apartment features include: Each apartment is gut-renovated w/ central air. Open kitchen features black marble counter tops & stainless steel appliances w/ dishwasher. Washer/Dryer in every unit. Solid white oak flooring throughout. High ceilings. Video intercom.

Building features, Elevator and landscaped roofdeck. Pets allowed.

There aren't any shots of the apartments online just yet, so we don't know if the inside fared better than the outside.

Meanwhile, BoweryBoogie previously reported that a Petco-branded store is set for the retail space.

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

Full reveal now at 31-33 Second Ave.

The plywood came down from the new retail space at 31-33 Second Ave. late last week … showing off the full exterior of Ben Shaoul's new residential building here just south of East Second Street.

As BoweryBoogie pointed out, a Petco-branded store is set for the retail space. (The rendering showed Petco signage.)



Per previous reports, workers remodeled the existing commercial space on the ground floor ... remodeled the existing apartments on the 2nd and 3rd floors ... and added three floors on top of the existing building. Each floor will contain two apartments, according to DOB documents.



Previously on EV Grieve:
Ben Shaoul planning a 3-story addition at 31-33 Second Ave.

Here's Ben Shaoul's new-look 2nd Avenue residential building

The construction gear and what not is off the front of 31-33 Second Ave., showing the exterior of Ben Shaoul's new residential building here just south of East Second Street.



According to plans on file with the city, workers remodeled the existing commercial space on the ground floor ... remodeled the existing apartments on the 2nd and 3rd floors ... and added three floors on top of the existing building. Each floor will contain two apartments, per the DOB documents.

The south side of the building appears to still need some work … or else the cinder-block look is in…



BoweryBoogie previously reported that a Petco-branded store is set for the retail space.



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

[Photo of 31-33 2nd Ave. from 2009 by LuciaM via Panoramio]

Construction Watch: 31-33 Second Ave.

[Photo from 2009 by LuciaM via Panoramio]

As we first noted back in June 2012, Ben Shaoul was adding three new floors of residences at 31-33 Second Ave.

We've been watching the demolition/addition here in recent months… (a neighbor described it as a "bshaoul mess") …

November





January



This past Saturday



Eventually the building will be … this…



BoweryBoogie previously reported that a Petco-branded store is set for the retail space.

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

[Photo from 2009 by LuciaM via Panoramio]

We first reported that developer Ben Shaoul was adding three new floors of residences at 31-33 Second Ave. back in June 2012...

Here's a quick look at the progress...



The sidewalk bridge is sporting some renderings of the final product, expected in the first quarter of 2014...





Approved plans on file with the city show that workers will remodel the existing commercial space on the ground floor ... remodel the existing apartments on the 2nd and 3rd floors ... and add on top of the existing building. Each floor will contain two apartments. Based on the rendering, the original building will be stripped of all character to make it appear as if it belongs on a train set.

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.

Bracing for 3 new floors at 31-33 Second Ave.

Just noting some recent activity at 31-33 Second Ave., where workers will add three floors to the existing building ... the most recent Work Permit shows plans for "shoring of front wall" here.



Approved plans on file with the city show that workers will remodel the existing commercial space on the ground floor ... remodel the existing apartments on the 2nd and 3rd floors ... and add on top of the existing building. Each floor will contain two apartments. Magnum Real Estate's Ben Shaoul is listed as the building's owner.

Previously on EV Grieve:
Ben Shaoul planning a 3-story addition at 31-33 Second Ave.

3 new floors for 31-33 Second Ave.; extension for neighboring building as well?

Work continues at 31-33 Second Ave., where developer Ben Shaoul received the OK from the city in January to add three floors to the existing building. (When we broke the story last June, the permits were still pending approval.)

Plans on file show that workers will remodel the existing commercial space on the ground floor ... remodel the existing apartments on the 2nd and 3rd floors ... and add on top of the existing building. Each floor will contain two apartments.

Meanwhile, a tipster passes along word that there's an extension planned as well for 23-27 Second Ave., above the former Second on Second, the 10-year-old karaoke bar that closed in January. However, there's nothing yet on file with the DOB to back up these claims...

Previously on EV Grieve:
Ben Shaoul planning a 3-story addition at 31-33 Second Ave.

Claim: Second on Second closing this month on Second Avenue

Second on Second, the 10-year-old karaoke bar on Second Avenue, is closing at the end of the month, according to a tipster...

The tipster said that there was a rent hike, but it wasn't all that unreasonable. While business had been lagging a bit ... the tipster believes that there is still a market for karaoke...

No word on what might be next here. It's a cavernous space that will likely be highly desirable for some new venture...

So, after this month, the Cock will be the last bar left on the block here between East Second Street and East First Street. The Urge, the gay bar/club at 31-33 Second Ave., closed after New Year's Eve. They are expected to reopen this year at the long-vacant 14 Avenue B.

And you can expect some big changes soon enough a storefront away from Second on Second at 31-33 Second Ave. ...

As we reported on June 27, Ben Shaoul is planning on adding three floors to the existing building.

Lastly, Blue Ribbon Fried Chicken will eventually be taking over the corner space at East First Street. Oh, and there's always Mars Bar 2.0.

Previously on EV Grieve:
Ben Shaoul planning a 3-story addition at 31-33 Second Ave.

Ben Shaoul planning a 3-story addition at 31-33 Second Ave.

[Photo from 2009 by LuciaM via Panoramio]

We've been watching and waiting for something to happen here at 31-33 Second Ave. since early this year ... we heard rumors, but nothing substantial.

The storefront at 33 Second Ave. is currently empty. If we recall correctly, Urge moved from this space next door to 31 after DTox closed.

According to the DOB, there were eight complaints about work occurring at 31/33 without proper permits between Feb. 17 and Feb. 22. The city subsequently served a full stop-work order on Feb. 23. The issue was later resolved.

[33 with stop-work order in February]


[Photo from April 2 by Bobby Williams]

Now, there are new permits pending for the following:



"Remodel existing commercial space at first floor. Remodel existing apartment at 2nd and 3rd floors. Add three (3) stories on top of existing building. New certificate of occupancy will be obtained."

Each floor will contain two apartments. Per the application, estimated total cost is $468,480 ... the city assigned the plan to an examiner on Monday.

The permits show that developer Ben Shaoul is the owner of the property.