Cabrini conversion under way

[Photo from June]

Work has started on converting the former Cabrini Nursing Center for Nursing and Rehabilitation into residential apartments. As previously reported here, Cabrini, who had been renting the space since opening in 1992 on East Fifth Street at Avenue B, turned over the building to its new owner, developer Ben Shaoul, on June 30.

A chute arrived on the scene late last week...

And the gut renovations were going strong yesterday...

[via @lauramanney]

According to permits on file with the DOB, the first floor of the remodeled space will contain the lobby, six apartments and retail. Floors two through six will house 15 apartments on each floor. (We previously heard that the building would contain one-bedroom rentals.) The basement is earmarked "residential amenities."

The estimated total conversion cost is $6 million, per DOB documents. The architect on record is Richard DeMarco of Montroy Andersen DeMarco. That firm's high-end conversion work includes 5 Franklin Place and 225 Rector ...

And, despite a neighborhood rumor, there aren't any plans on file for a pool in the building.

Previously on EV Grieve:
Cabrini Center patients out by the end of today; closes for good June 30

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

Report: Local politicians reach out to Ben Shaoul as re-sale of the Cabrini Nursing Center seems likely

Last month, we first reported that Ben Shaoul was the mystery buyer behind the sale of the Cabrini Nursing Center for Nursing and Rehabilitation on East Fifth Street at Avenue B.

According to a source, Cabrini officials made an offer to Shaoul in November to pay a substantial amount of money just to receive a lease extension — in addition to more rent. (Cabrini officials have been planning to relocate to a still-unspecified site.)

As the Lo-Down previously reported, the Cabrini building sold for $25.5 million.

Today, the Lo-Down has a copy of the letter that elected officials have sent to Kenneth Fisher, the attorney representing Shaoul's Magnum Real Estate Group. There is now concern that Magnum plans to flip the building.

Here's part of the letter (read the whole thing here), written by State Sen. Daniel Squadron and signed by an array of local politicians:

As the Magnum Real Estate Group pursues a sale, we ask that the needs of the senior community on the Lower East Side be taken into consideration. There are a number of options to preserve nursing home beds. The critical importance of those beds for the individuals already accessing CCNR’s service, as well as for the wider community of families and caregivers, must be prioritized.

Cabrini's lease runs out in April.

The nonprofit, 240-bed nursing home — sponsored by the Missionary Sisters of the Sacred Heart of Jesus — provides health care for low-income elderly residents in the East Village. The location at Fifth Street and Avenue B opened in 1993. This location serves 240 patients and employs nearly 300 employees.

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

Report: New owner paid $25.5 million for Cabrini Nursing Center

As we reported on Nov. 21, a neighbor with knowledge of the proceedings at the Cabrini Nursing Center for Nursing and Rehabilitation on East Fifth Street at Avenue B claimed that Ben Shaoul is the new owner of the property.

Today, more details are starting to emerge about the sale. The Lo-Down has the scoop that the building was sold for $25.5 million. Per The Lo-Down:

A private company called “MM 62-74 Avenue B Owner” acquired the building in a transaction recorded in city land records Dec. 2. The firm, which was incorporated in August, lists as its address the law office of Goldberg Weprin Finkel Goldstein near Times Square.

Meanwhile, plans for the new building and the name of the actual owner have not been made public just yet. Cabrini's lease expires in April. Local politicians have urged the new owner to extend the lease to allow Cabrini sufficient time to find a new facility in the area.

Previously.