Report: Jared Kushner paid $49 million for 7 more Ben Shaoul-owned properties in the East Village

[118, 120 E. 4th St. via Massey Knakal]

Jared Kushner's East Village shopping spree continues. Last week, the developer (and New York Observer publisher) closed on a portfolio of 17 walk-up apartment buildings in the East Village for some $130 million, as The Real Deal first reported.

This afternoon, The Real Deal is reporting that Kushner bought seven more walk-up rental buildings for $49 million from developer Ben Shaoul's Magnum Real Estate and Meadow Partners.

The addresses: 118, 120-122, 195, 199, 201 and 203 East 4th Street.

Shaoul's renovations of 118 and 120 E. 4th Street prompted the start of the blog Occupy East 4th Street.

According to The Real Deal, Shaoul paid a combined total of $25.1 million for these seven properties in 2010 and 2011.

Previously on EV Grieve:
Ben Shaoul and company put East Fourth Street buildings on the market for $25 million

4 East Fourth Street apartment buildings hit market for $32 million

Rumors: Is Ben Shaoul selling his East Village properties?

Report: New York Observer publisher buys 5 East Village walk-ups

New York Observer publisher Jared Kushner, also the principal owner of Kushner Properties, has purchased a $53 million portfolio of walk-ups in the city, including five in the East Village.

According to Lois Weiss at the Post, this properties are:

• 267 E. 10th St.
• 435 E. 9th St.
• 311 E. 11th St. (Huh? This is the nice new Village Green Building)
• 311 E. 6th St.

Another building in the portfolio — at 99 E. 7th St. — will close next month, Weiss reported.

On Aug. 22, The New York Times reported that demand for and sales of walk-up buildings have "reached new highs recently." Per the article:

With rents rising, the fact that many Manhattan walk-up buildings have tenants with rent-regulated apartments offers landlords the possibility of a very large increase in profits when these units are deregulated and shift to market rates. There is also upside potential to raise rents in the market rate units if landlords renovate a walk-up building, many of which have not been modernized in decades.

[Image via Wikipedia]