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'

Sales underway for Ben Shaoul's Liberty Toye — at the 'crossroads that cradled the Culture of Cool'

[Liberty Toye's sale office at 44 Avenue B]

As previously mentioned (here and here and here), Liberty Toye is the name of Ben Shaoul's condoplex taking over his nursing-home replacing rentals at 62 Avenue B.

And now sales are underway at the 81-unit building at Fifth Street. Here's the eye-rolling description::

Liberty Toye is located in the legendary East Village. Born in the creative clash of the 70’s and rocketing to iconic status in the 80’s, the neighborhood emerged as the epicenter of cool, producing a galaxy of stars and shaping an indelible worldview of New York City.

Today, at 62 Avenue B, stands Liberty Toye at the very crossroads that cradled the Culture of Cool. Modern luxuries abound in this urban sanctuary, where studio, one and two bedroom condominiums and private outdoor spaces provide the setting for the next chapter in the epic tale of downtown grit and glamour.

A lush entry garden leads to the marble and brass lobby where a doorman waits to greet you 24 hours a day. Experience a full suite of amenities, a recreation room, fitness center with a yoga room, and a landscaped roof deck outfitted with grills, dining areas, a lounge, an outdoor shower, and a 360-degree view of the vibrant city.

A residence at Liberty Toye evokes the allure of downtown New York City with a style all its own. Available as studio, one and two bedroom condominiums with dark-stained or light grey stained hardwood floors throughout. The kitchen features custom cabinets, white marble counters, and brushed brass fixtures, and is completed by stainless steel Bosch appliances. Bathrooms complement the space with white marble, chrome fixtures, and grey vanity with touches of brushed brass.

And here are photos of the model homes ... featuring framed photos of Joey Ramone, Grace Jones and Debbie Harry, among others...





Prices range from $660K to $1.8 million for buyers who may use Bitcoin for the purchase. (Shaoul's sales team is renting an office from the imprisoned Steve Croman at 44 Avenue B between Third Street and Fourth Street.)

Shaoul previously leveraged the neighborhood's history to potential renters at Bloom 62 in May 2013 with this unforgettable copy:

It sounds impossible: a fully-appointed luxury building has sprouted in the beating heart of the East Village. A 24-hour doorman greets you before work in the morning, after returning from a cafe in the evening and when heading out to Tompkins Square Park on the weekends. You'll have every modern convenience, from a gym to a roof deck to in-unit laundry, on the same streets where names like The Ramones, Warhol and Hendrix and [sic] paved the history of this neighborhood for years to come.

Previously on EV Grieve:
More details on Cabrini's closing announcement

A look at the 'Hip young crowd planting roots at Bloom 62'

1st signs of Ben Shaoul's Bloom 62 going condo on Avenue B?

More details on Ben Shaoul's condo conversion Liberty Toye, where you can buy with bitcoins

Liberty Toye now lighting up Avenue B

As previously mentioned, Liberty Toye is the name of Ben Shaoul's condoplex taking over his nursing-home replacing rentals at 62 Avenue B.

And now, the sales office at 44 Avenue B between Third Street and Fourth Street sports neon signage ...



There's still just a teaser site up to request info about the condos on Avenue B and Fifth Street, where yesterday workers removed the Bloom 62 banner on the north-facing wall...



Bloom 62 started renting in May 2013. Prices topped out at $7,600 for a four-bedroom apartment.

Shaoul recently announced that he will accept Bitcoin for Liberty Toye, where units will run between $700,000 and $1.5 million.

Previously on EV Grieve:
More details on Cabrini's closing announcement

A look at the 'Hip young crowd planting roots at Bloom 62'

1st signs of Ben Shaoul's Bloom 62 going condo on Avenue B?

More details on Ben Shaoul's condo conversion Liberty Toye, where you can buy with bitcoins


[Photo from 2012]

More details on Ben Shaoul's condo conversion Liberty Toye, where you can buy with bitcoins

A sidewalk bridge arrived back on Thursday to surround the soon-to-be-former Bloom 62 on Avenue B and Fifth Street.

Ben Shaoul, president of Magnum Real Estate Group, is in the process of redeveloping the rental property into a condoplex called Liberty Toye. (Read my post on this here.)

There's nothing on file with the DOB yet to shed any light on what work is going to take place here. (There is a permit for the sidewalk bridge.)

Shaoul recently announced that he will accept Bitcoin for Liberty Toye, where units will run between $700,000 and $1.5 million.

Per CNBC:

"Initially, we expect to see a small number of sales in bitcoins. But over the next five or 10 years, I could see up to 25 percent of payments happening in bitcoin or a like digital currency.

"It's going to be the future," he continued, "and a lot of developers will start to adapt and offer the same option."

Shaoul was also featured in this Global Mansion article on cryptocurrency in the global real-estate market.

"Our buyer has evolved, they've moved from mom and pops to young people who want to pay with various forms of payment. Cryptocurrency is something that has been asked of us — 'Can you take cryptocurrency? Can we pay that way?' — and of course when somebody wants to pay you with a different form of payment, you're going to try to work with them and give them what they want, especially in a very busy real estate market."

Shaoul ... admits that there is currently a lot of inventory in the market, and therefore having an edge over his competitors is especially key. Bitcoin, he hopes, will be that edge.

"I think the demographic of the crypto user is a younger millennial, but, that being said, you have a lot of people come over from other countries, who are buyers from different places, who like to trade in different types of currency. Not everyone wants to trade in dollars or yen or euros," Shaoul said.

And he claims there is already a lot of interest in Liberty Toye, though not necessarily from current renters or NYC residents.

Since he announced that he’ll accept bitcoin for purchases in his East Village project a few days ago, Mr. Shaoul said he’s received dozens of emails and calls expressing interest from overseas buyers in China and other Asian countries.

The Liberty Toye office will be at 44 Avenue B between Third Street and Fourth Street in a former laundromat owned by Steve Croman.



Before becoming a place for wealthy overseas buyers, the building at Fifth Street was home to Cabrini, which closed for good on June 30, 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. Cabrini opened in 1993 and served 240 patients and employed nearly 300 people. Shaoul reportedly paid $25 million for the property and closed down Cabrini.

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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'

1st signs of Ben Shaoul's Bloom 62 going condo on Avenue B?

1st signs of Ben Shaoul's Bloom 62 going condo on Avenue B?

Almost two years ago to the day news arrived that developer Ben Shaoul was planning to convert his Bloom 62 rental building on Avenue B into a condominium property.

The Real Deal reported on Oct. 8, 2015, that Shaoul, president of Magnum Real Estate Group, filed plans for an 81-unit condominium that will have a total sellout of $95.2 million, according to a summary of the offering plan filed with the state Attorney General’s office.

Meanwhile, there has been speculation that the under-renovation storefront at 44 Avenue B between Third Street and Fourth Street (a Steve Croman property) would serve as the sales office for the condos.

On Friday, an EVG reader spotted this signage on the storefront with newly tinted windows...



The sign says Liberty Toye coming soon to 62 Avenue B, Bloom 62's address ...



There's a generic website where interested parties can request more info for a building that will presumably be going by Liberty Toye...



As of this past weekend, there were 10 Bloom 62 rentals — with an average price of $4,899 — on the market at Streeteasy...



Before becoming a luxury rental, the building at Fifth Street was home to Cabrini, which closed for good on June 30, 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. Cabrini opened in 1993 and served 240 patients and employed nearly 300 people. Shaoul reportedly paid $25 million for the property and closed down Cabrini.

After Shaoul took over, the rental building quickly became a party palace, with residents enraging neighbors with rooftop DJ parties. Shaoul cracked down on the rooftop ragers in the summer of 2015. Maybe not good for upcoming condo business.

In March 2015, Shaoul put Bloom 62 on the market … with an $80 million asking price. However, he later pulled the building off the market.

Liberty Toye will join Shaoul's other East Village condos — the A Building on East 13th Street and the incoming 98-100 Avenue A.

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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'

Ben Shaoul looks to make a whole lot of money converting nursing home into high-end housing

Ben Shaoul is selling Bloom 62 for $73 million — all cash!

Report: Ben Shaoul replacing luxury rentals with condos at Bloom 62

Word is that Stately Shaoul Manor — aka the rental Bloom 62 — is about to go condo.

The Real Deal has the scoop on developer Ben Shaoul's plans for the building on Avenue B at East Fifth Street:

Shaoul, president of Magnum Real Estate Group, filed plans for an 81-unit condominium that will have a total sellout of $95.2 million, according to a summary of the offering plan filed with the state Attorney General’s office ...

Back in March, we reported that Shaoul put Bloom 62 on the market … with an $80 million asking price for the former Cabrini Center for Nursing and Rehabilitation. However, after curtailing the building's rooftop ragers, Shaoul pulled Bloom off the market.

Units at Bloom currently range from a one-bedroom apartment for $3,300 all the way up to a four-bedroomer for $7,395, per Streeteasy. The listed building amenities mention the roof deck with outdoor shower (drat!), a fully equipped gym, yoga room and storage units.

Before becoming a luxury rental, the building was home to Cabrini, which closed for good on June 30, 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. Cabrini opened in 1993 and served 240 patients and employed nearly 300 people. Shaoul reportedly paid $25 million for the property and closed down Cabrini.

Bloom 62 will join Shaoul's other East Village condos — the A Building on East 13th Street and the incoming 98-100 Avenue A.

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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'

Ben Shaoul looks to make a whole lot of money converting nursing home into high-end housing

Ben Shaoul is selling Bloom 62 for $73 million — all cash!

A mural for Ben Shaoul's Bloom 62, which is no longer for sale

[Photo by Stacie Joy]

Several readers pointed out that a mural went up on the wall Thursday at Bloom 62, the 81-unit rental building on Avenue B at East Fifth Street.

Here's another view… via @SquareMusings …



Anyone happen to know the name of the artist? Thank you in the comments… The artist is Ludo … and it was for the Lo Man Art Festival.

Meanwhile… Back in March we reported that landlord Ben Shaoul put Bloom 62 on the market … with an $80 million asking price for the former Cabrini Center for Nursing and Rehabilitation.

Now, according to The Real Deal, Shaoul "opted not to sell – and instead secured $63 million in recapitalization financing." So Shaoul is here to stay…

Ben Shaoul curtails rooftop ragers at Bloom 62

[EVG photo from August 2014]

Over on Avenue B and East Fifth Street, Ben Shaoul's Bloom 62's roof deck had been attracting attention for its parties.

However, effective immediately, the party's over for now atop the former Cabrini Center for Nursing and Rehabilitation, which Shaoul bought and converted into high-end rentals.

A tipster shared a 10-page memo dated yesterday to the building's residents.

As you are aware, we have made several attempts to enforce the roof rules for the safety of all residents and their guests.

The roof is intended to be used and enjoyed by all residents in this building; however that is no longer the case. As a result of excessive parties, most of which have gone on well after permitted hours, the amenity space has been destroyed – and regrettably this has occurred too many occasions.

The most recent incident left the amenity space looted: alcoholic beverages, beer bottles, graffiti on the ledge, items thrown from our roof over to neighboring rooftops and broken furniture. This is simply unacceptable and will no longer be tolerated.

We regret to inform you that due to the events that have transpired on the roof, the Landlord is CLOSING the roof effective immediately. Access will be limited to emergency use. Anyone found on the roof in a non-emergency related capacity will be considered trespassing and will be prosecuted to the fullest extent of the law.

Once repairs have been made a revised roof schedule will be circulated.

However, at this time we are not providing residents with a new opening date. We understand this might be upsetting to those of you who have not participated in the destruction of private property — however it is our responsibility as a Landlord to ensure the use and enjoyment of every resident in this building, the safety of all its residents and our desire to respect our neighbors and the community in which we live.

We hope that this pause will encourage those residents and their guest(s) to reconsider their actions and remember that they are living in a community of fellow residents. We are optimistic that once the roof reopens, residents will treat this very special amenity with respect and help promote common courtesy by following the guidelines set forth by the Landlord.

The memo included several photos. (Per the memo: "We have included photos of the most recent incident below — they are incredibly telling and disheartening.")





The building is currently on the market for $80 million.

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

Have you heard the rooftop parties at Ben Shaoul's Bloom 62? (52 comments)

Ben Shaoul asking $80 million for Bloom 62, the former nursing home on Avenue B

[Image via Cushman & Wakefield]

Back in November, a PDF of a listing for Ben Shaoul's Bloom 62 on Avenue B and East Fifth Street arrived in our inbox. The asking price for the former Cabrini Center for Nursing and Rehabilitation was listed at $73 million — all cash.

Maybe you should have picked it up then. There's a new listing as of yesterday at Cushman & Wakefield … and the asking price is now $80 million.

Here's what you get:

A 6-story, completely renovated, mixed-use doorman building located at the southwest corner of Avenue B and East 5th Street. The property features over 120’ of frontage on Avenue B and 143’ of frontage on East 5th Street. It consists of 81 residential units and 1 ground floor retail unit. All of the residential units are FM with an average in-place rent of $83/SF.

The retail is leased to The New Amsterdam School for $400,000 per year. Overall, the property is 98.77% occupied with a gross annual income of $5,155,768. Amenities of the building include a fitness room, landscaped courtyard, and a rooftop entertainment deck featuring outdoor showers, grills, and bar-sinks. The residential units are all in spectacular condition and each has their own washer & dryer, individual temperature control, and high-end finishes through out.

This is an excellent opportunity for an investor to purchase a high cash flowing, low maintenance asset with significant upside in one of the trendiest neighborhoods in Manhattan.

Shaoul bought the place for $25.5 million from a family trust made up of the estates of Jacob W. Friedman and Sol Henkind in December 2011.

Cabrini closed for good on June 30, 2012. The 240-bed Cabrini Center for Nursing and Rehabilitation — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provided health care for low-income elderly residents in the East Village. The center opened in 1993 and served 240 patients and employed nearly 300 people.

As for Shaoul, he's off to luxurify other corners of the neighborhood.

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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'

Ben Shaoul looks to make a whole lot of money converting nursing home into high-end housing

Ben Shaoul is selling Bloom 62 for $73 million — all cash!

Ben Shaoul is selling Bloom 62 for $73 million — all cash!

[EVG file photo]

Back in January, the Post reported that Bloom 62 on Avenue B and East Fifth Street — the former Cabrini Center for Nursing and Rehabilitation — "is being shown to investors and expected to sell for roughly $70 million."

At the time, we never spotted any listings for the building that Ben Shaoul bought for $25.5 million from a family trust made up of the estates of Jacob W. Friedman and Sol Henkind in December 2011.

Now a PDF for the building is making the rounds … it arrived in our inbox. From that listing:









All you need is $73 million. All cash.

Cabrini closed for good on June 30, 2012. The 240-bed Cabrini Center for Nursing and Rehabilitation — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provided health care for low-income elderly residents in the East Village. The center opened in 1993 and served 240 patients and employed nearly 300 people.

Bloom 62 started renting in May 2013. Prices top out at $7,600 for a four-bedroom apartment. The building has quickly earned a reputation for throwing the most disruptive rooftop parties.

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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

Ben Shaoul looks to make a whole lot of money converting nursing home into high-end housing

Have you heard the rooftop parties at Ben Shaoul's Bloom 62?

We have! A few Sundays ago from atop the former nonprofit nursing home on Avenue B and East Fifth Street that Ben Shaoul bought and converted into high-end rentals. And we've heard grumbling from residents on East Fifth Street. (The Cabrini Center for Nursing and Rehabilitation wasn't really known for rooftop parties.)

Meanwhile, an Avenue B resident shared this.

Has anyone else complained about Bloom 62? I was walking on the street Saturday night and there was music so loud on the roof ... I contacted 311 and the police allegedly “resolved” the issue, but it was still very noisy through the night. I can’t believe the neighbors around the building can tolerate it.

We actually didn’t eat at Lavagna that night because the music was so loud by the restaurant.

It was clear there was a pro DJ with very serious sound system on the roof.

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

Ben Shaoul looks to make a whole lot of money converting nursing home into high-end housing

[EVG file photo]

In a discussion on "The Stoler Report" last summer, developer Ben Shaoul, president of Magnum Real Estate Group, mentioned that he was looking to sell his current "conversion of a nursing home" in a year or two.

Apparently the time is here. The Post reports that Bloom 62 on Avenue B and East Fifth Street — the former Cabrini Center for Nursing and Rehabilitation — "is being shown to investors and expected to sell for roughly $70 million."

In December 2011, Shaoul and company purchased Cabrini for $25.5 million from a family trust made up of the estates of Jacob W. Friedman and Sol Henkind. Cabrini closed for good on June 30, 2012.

The 240-bed Cabrini Center for Nursing and Rehabilitation — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provided health care for low-income elderly residents in the East Village. The center opened in 1993 and served 240 patients and employed nearly 300 employees.

At Bloom 62, four-bedroom apartments for upwards of $7,600 ... in the upscale dorm building whose amenities include roof deck with showers, Weber grills and a yoga room.

The Post also mentions that "one retail unit in the process of being leased." The rumor is a 7-Eleven. The corner space will be home to the New Amsterdam School, according to signs along Avenue B.

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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

Q-and-A with Patricia Krasnausky, president and CEO of Cabrini Eldercare

Meanwhile at Bloom 62...

So how are things settling in over at Bloom 62, Ben Shaoul's luxury conversion of the former nursing home on Avenue B and East Fifth Street? Everyone getting along?

Spotted on the currently vacant retail space...



Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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

Q-and-A with Patricia Krasnausky, president and CEO of Cabrini Eldercare

A look at the 'Hip young crowd planting roots at Bloom 62'

[EVG file photo]

Real Estate Weekly files a puff piece on Bloom 62, Ben Shaoul's newish luxury rentals on Avenue B and East Fifth Street. According to REW, the 81-unit building is 82 percent leased some six months after making its debut.

To the article, titled "Hip young crowd planting roots at Bloom 62":

On a recent Friday, a group of young tenants was lounging on the terrace’s garden chairs, enjoying one of the last warm days of the year.

The smell of barbecue coming from the built-in outdoor grills and the blooming hydrangea summed up the building’s message: Just because you’re in Manhattan, doesn’t mean you can’t live as if you’re out in the country.

And what's the point of living in Manha... aw, forget it!

And!

The building’s brand new, polished exterior provides a stark contrast to its run-down East Village surroundings. Neighboring buildings are showing their age and sport the occasional graffiti over rusty fire escapes, leftovers of a time when the area was known more for its punks and basement clubs than for its fine dining.

But times have changed: “East Village” and “luxury rental” can now be said in the same sentence with a straight face. Coffee shops and restaurants are in abundance, and the Lower East Side, with its numerous clubs and bars, is just blocks away.

Oh boy.

The building's previous tenant was the 240-bed Cabrini Center for Nursing and Rehabilitation, sponsored by the Missionary Sisters of the Sacred Heart of Jesus, which provided health care for low-income elderly residents in the East Village. The center opened in 1993 and served 240 patients and employed nearly 300 employees. Cabrini closed for good on June 30, 2012.

Now excuse us while we throw ourselves on the built-in outdoor grills.

Updated 10:22

Here Curbed's headline on this REW piece:

Ben Shaoul's Bloom 62 Dances on the East Village's Grave

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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

Q-and-A with Patricia Krasnausky, president and CEO of Cabrini Eldercare

Memories from Avenue B

Bloom 62 is a new luxury building on Avenue B at East Fifth Street that features a landscaped roof deck with showers, Weber grills and a "teak sundeck" for apartment dwellers paying upwards of $7,600... the building was formerly the Cabrini Center for Nursing and Rehabilitation ... and the American Nursing Home.

This development brought back some memories for artist Julius Klein, who lived next door for 11 years.

-----

For many years, (’82 –’93) living at 60 Ave. B, Apt 2B, between 4th & 5th St., late at night, while laying in bed, I would hear wailings coming from the then named American Nursing Home, across the loading dock. It was a regular, nightly utterance — “arolegemmyt yato me air”, like hearing a cubistic coyote in the distant desert.



Again, another night lying in bed, say, 3:45 am, “aerol, aerol, osh oshh –mtwon”.

One night, when well oiled on mushrooms, it became clear to me.

“HAiRrrrOLDD, ET E OT O ERE”!!!
“HAROLD, GET ME OUT OF HERE”!

In the 80ies and into the 90ies, a grand yearly 4th of July party was held in the back seating area behind the loading dock. It was mainly a party for the staff, as the band hired yearly, was a sort of funk jazz R&B ensemble.



The old folks would be wheeled out and afflicted by the way too loud, amplified sound. You could see them pushing their arms forward, as if to push the offending sound away, as they then covered their ears, the staff trying to sell them on the musical offerings such as “Grooving, on a sunny afternoon, La La La.”

At some point, the lead singer, the MC, without any sense of irony, posed the question. “Does anyone here know who Old Blue Eyes is?” the one song in their set approaching era appropriateness for the audience.

After a few moments the band jumped into Frank Sinatra’s “My Way” — “And now the end is hear, and so I face the final curtain”.

It just felt, from my 2nd story window, a bit cruel ... and a bit funny too.

And so it went, and so it goes ...

Ben Shaoul plans to sell Bloom 62 'in a year or two'

We were watching "The Stoler Report" — the real-estate roundtable program on Channel 75 — the other evening... Developer Ben Shaoul, president of Magnum Real Estate Group, was one of the guests discussing the residential market in Manhattan and the boroughs... it was a fairly sobering discussion on everything from end loans for condos ... debt yields... capital gains...

At roughly the 20-minute mark, host Michael Stoler asked Shaoul about his preference for short-term lending ... Well, you know, it depends on the asset and who the partner is and what the plan is for the asset, etc.

While he didn't mention it by name (Bloom 62, the new luxury residences that replaced the former Cabrini Center for Nursing and Rehabilitation on East Fifth Street and Avenue B), Shaoul mentioned his current "conversion of a nursing home."

And?

"We're going to look to sell the asset in a year or two," he said.

This type of property, he said, was attractive to the institutions who buy this caliber of asset.

In December 2011, Shaoul and company purchased Cabrini for $25.5 million from a family trust made up of the estates of Jacob W. Friedman and Sol Henkind. Negotiations to resell the building to a for-profit nursing home operator reportedly fell apart in early January 2012. Cabrini closed for good on June 30, 2012.

The 240-bed Cabrini Center for Nursing and Rehabilitation — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provided health care for low-income elderly residents in the East Village. The center opened in 1993 and served 240 patients and employed nearly 300 employees.

Bloom 62 is currently renting — prices range from $3,450/month for a one-bedroom unit to $7,600 for a four-bedroom apartment. The listed amenities include 24-hour doorman, gym and exercise facility with weight room, secured landscaped courtyard entrance, deck with showers, Weber grills and teak sun-deck, and yoga room with music system.

You can watch this episode of "The Stoler Report," taped on May 30, right here.

Pricing for apartments at former Cabrini Center revealed; 4-bedroom unit for $7,600 at Bloom 62

Several units from Bloom 62, developer Ben Shaoul's luxury apartment building that replaced the former Cabrini Center on East Fifth Street and Avenue B, appeared on Streeteasy this past weekend. There are six listings, ranging from a one-bedroom unit for $3,450 all the way up to a four-bedroom unit for $7,600.

The listings all basically showcase the same amenities. Here's the one for the four-bedroom pad:

Brand New Listing in Pristine New Building. Huge 4 Bedrooms with Tons of Closet Space. Amazing Deal. This Apartment will not last!

Apartment Details:

-Brand New Renovations
-Very Spacious Layout
-Queen Size Bedrooms
-Beautiful Spa Style Marble Bathroom
-Wide Plank Hardwood Floors
- Closet Space!

Kitchen Features:
-Chef’s Kitchen
-Plenty of Counter Space / Cabinet Space
-Stainless Steel Appliances (Dishwasher, Refrigerator, Microwave)
-Granite Counter top

WASHER & DRYER

New Doorman bldg Features:
AMENITIES

24 hour doorman
Gym & exercise facility with weight room
Secured landscaped courtyard entrance
Standard storage
Laundry room
Bicycle storage
Landscaped roof deck with showers, Weber grills, & teak sun-deck
Yoga room with music system
Handicap accessible

According to Streeteasy, the apartments are available starting June 14. The previous tenant here was the 240-bed Cabrini Center for Nursing and Rehabilitation — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — that provided health care for low-income elderly residents in the East Village. The center opened in 1993 and served 240 patients and employed nearly 300 employees. The facility closed last June.

Previously on EV Grieve:
Here's Bloom 62, the luxury apartments replacing the Cabrini Center for Nursing & Rehabilitation

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

Weekend recap: 'Bloom 62' announces itself at the former Cabrini Center

In case you missed our post on Saturday... the luxury apartment building that is replacing the former Cabrini Center on East Fifth Street and Avenue B has a name: Bloom 62 ... "The right place to plant your roots."

A banner ad went up Friday. And there's now a website with this marketing copy:

It sounds impossible: a fully-appointed luxury building has sprouted in the beating heart of the East Village. A 24-hour doorman greets you before work in the morning, after returning from a cafe in the evening and when heading out to Tompkins Square Park on the weekends. You'll have every modern convenience, from a gym to a roof deck to in-unit laundry, on the same streets where names like The Ramones, Warhol and Hendrix and [sic] paved the history of this neighborhood for years to come.

Reader reaction included:

Woo Generation said...
I don't know what Ramones and those other things are. How close is 13th Step?

Anonymous said...
I know someone who died in there. I could never live there. They look like prison cells with windows and rooms brightened with Photoshop.

Read the rest of the post and reader comments here.

Previously on EV Grieve:
Here's Bloom 62, the luxury apartments replacing the Cabrini Center for Nursing & Rehabilitation

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

Here's Bloom 62, the luxury apartments replacing the Cabrini Center for Nursing & Rehabilitation

[Photo via @zmack]

So, if you were to turn a former nursing home into a luxury apartment building... how would you market that new space? A lot of people have been asking that question since developer Ben Shaoul purchased the building that housed the Cabrini Center for Nursing and Rehabilitation on East Fifth Street and Avenue B.

Now we know.

Please meet Bloom 62 — "The right place to plant your roots."

A banner ad went up yesterday on the East Fifth Street side of the building. And there's now a website with a few details and renderings about the rentals.



And here we are:

It sounds impossible: a fully-appointed luxury building has sprouted in the beating heart of the East Village. A 24-hour doorman greets you before work in the morning, after returning from a cafe in the evening and when heading out to Tompkins Square Park on the weekends. You'll have every modern convenience, from a gym to a roof deck to in-unit laundry, on the same streets where names like The Ramones, Warhol and Hendrix and [sic] paved the history of this neighborhood for years to come.

Not sure why this sounds impossible. After all, Ben himself created a fully-appointed luxury building not too long ago with the A-Building on East 13th Street. (Maybe Hendrix didn't pave 13th Street with history?)

Anyway! The listed amenities include 24-hour doorman, gym and exercise facility with weight room, secured landscaped courtyard entrance, deck with showers, Weber grills and teak sun-deck, and yoga room with music system.

There's no pricing for the apartments just yet.

The nonprofit, 240-bed Cabrini Center for Nursing and Rehabilitation — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provided health care for low-income elderly residents in the East Village. The center opened in 1993 and served 240 patients and employed nearly 300 employees. The facility closed last June.

Previously on EV Grieve:
Claim: Ben Shaoul is the new owner of Cabrini nursing home, will convert to condos

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

Q-and-A with Patricia Krasnausky, president and CEO of Cabrini Eldercare