Magnum and Real Estate Equities Partner at 196 Orchard Street on Lower East Side

196 Orchard Street196 Orchard Street, image by Ismael Leyva

Since YIMBY revealed Magnum Real Estate Group’s plans for 196 Orchard Street back in February, Real Estate Equities has partnered with Magnum to develop the 10-story, 83-unit mixed-use building. The two developers will soon close on the assemblage for $108 million (Update: $75 million), reports The Real Deal. Demolition of the existing single-story buildings should follow.

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