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Read the press release here.

$1M Luxury Studios Near Katz's Deli Go On Sale

By Allegra Hobbs | September 26, 2016 12:14pm | Updated on September 27, 2016 5:38pm
 Interior renderings of the condo development at 196 Orchard Street.
196 Orchard Street Condos
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LOWER EAST SIDE — Condos inside Ben Shaoul's monolith luxury development at 196 Orchard St. have hit the market, with prices starting at $1.075 million for a studio and going up to $5.59 million for a three-bedroom.

The 11-story building's 94 condos sit adjacent to the iconic Katz's Deli and atop an Equinox Fitness Club. Dwellers within the development would be treated to a private gym entrance and a special discount, according to the 196 Orchard website

The structure will be topped by a "rooftop park," consisting of a 4,100-square-foot landscaped terrace, grilling areas, outdoor kitchens and a chef's table for outdoor entertaining. 

The development has already sparked controversy within the existing community, with nearby business owners complaining the construction on the project – slated to wrap in 2017 — has damaged their storefronts, dealt a blow to their customer base, and significantly drained foot traffic on the block of Orchard Street between East Houston and Stanton streets. 

Due to community complaints, the local community board in June voted to recommend the city's Board of Standards and Appeals deny Equinox a variance to put its gym into the development's lower floors, citing the developer's "history of negative impact on the community."

However, the BSA will have the final say, and has yet to vote on the application.

A handful of local businesses were razed to make way for the development after Katz's Deli sold the neighboring property to developer Ben Shaoul of the Magnum Real Estate Group as part of a $17 million deal to secure the deli's continued presence in the neighborhood.

For the full rundown of available units, along with floor plans and interior renderings, click here.