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!