In unusual move, Magnum renames the Luminaire nearly one year into sales

What’s in a name? When it comes to hawking condominiums, the right moniker can be a powerful selling tool. But the wrong one can also be a deadweight. In a rare move in new development marketing, Magnum Real Estate Group changed the name of its 385 First Avenue condo conversion project from the Luminaire to […]

Ben Shaoul scores $195M loan for 196 Orchard

Ben Shaoul’s Magnum Real Estate Group secured a $195 million senior construction loan from SL Green Realty for its new Lower East Side condominium project next to Katz’s Deli, sources told The Real Deal. The senior loan for the project at 196 Orchard Street replaces the existing $97 million loan that SL Green provided last […]