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62 Avenue B: Review and Ratings

between East 4th Street & East 5th Street View Full Building Profile

Carter Horsley
Review of 62 Avenue B by Carter Horsley

This 6-story building at 62 Avenue B at East 5th Street on the East Village was renovated in 2013 and has 75 condominium apartments. It was developed by Magnum Real Estate Group, which is headed by Ben Shaoul and bought the property for $25.5 million.

It was formerly the Cabrini Center for Nursing and Rehabilitation at 542 East 5th Street, a 240-bed nursing home sponsored by the Missionary Sisters of the Sacred Heart that opened in 1993. 

According to an article in November, 2010 at, local politicians "including Assemblyman Speaker Sheldon Silver, City Council Speaker Christine C. Quinn, City Councilmember Rosie Mendez and members of Community Board 3...sent a letter to attorney Kenneth Fisher, who is representing the buyer, asking for an extension of the current lease" to give the nursing home an opportunity to find a new home and not lose its state-issued operating license.

A commenter to the article, Chris Flash, noted that this was "the site of a beautiful" Loew's theater, adding that "According to legend, Marcus Lowe [sic] selected this site because he had grown up nearby." 

The nursing home closed in 2012 and was initially converted by Mr. Shaoul's company to rental apartments and the building was named Bloom 62. 

Magnum decided to close the rooftop after a "raucous" party by some residents "that left the amenity space looted," according to a November 14, 2017 article at by E. B. Solomon.  The article added that "in early 2015, Shaoul looked to sell the property for $80 million, but ultimately decided to convert it to condos." 

"The latest iteration of the building includes 81 condos with stained hardwood floors, white marble counters and brushed brass fixtures.  Amenities include a fitness center and yoga room, courtyard and, yes, a landscaped roof deck with grills, dining areas, a lounge and outdoor shower.  Construction on the building is underway, which still has some rental tenants in place.  The total sellout is $92.5 million...Liberty Toye will accept Bitcoin," the article added. 

Interior design for the building is by Built In Studio and Gary Eisner.

The building contains the New Amsterdam School, which was designed by Viraline Architects and has murals created by Lazure artist Robert Logsdon and is across the street from the Earth School.  The New Amsterdam School is ecologically oriented and students make organic food and toys are made with natural materials.


Bottom Line

This was a rather non-descript nursing home that was converted to a rental apartment building some of whose residents then trashed its landscaped roof deck leading its new owner to try to sell the building only to convert it to a condominium apartment project with an attractive new roof pergola, a lushly landscaped courtyard, freshly painted façades in three colors, and a new, ecologically-minded grade school with an attractive wood marquee - a classic East Village histoire.


The building has sidewalk landscaping and a very handsome lobby highlighted by a very large slab of great, veined marble behind the concierge's desk beneath attractive, slender and long brass hanging light fixtures.

A spruced-up and repainted, 6-story nursing home converted first to a rental apartment building and then to a condominium apartment building with a lovely pergola and a lushly landscaped courtyard and new colored façades and a new ecologically-minded grade school with a wood marquee.



This building has a 24-hour doorman, a large, landscaped courtyard, a landscaped roof with planted fences, grills and an outdoor shower, and a fitness center.  The building is pet friendly.



Apartments have stainless-steel Bosch kitchen appliances and white marble counters and washers and dryers. 

Apartment J is a three-bedroom unit with an entry foyer that leads to a living room with an open kitchen. 

Apartment 6N is a two-bedroom unit with a staggered floor plan and a living room and a home office. 

Apartment 6M is a two-bedroom unit with 947 square feet and a 17-foot-long living room with an open kitchen with an island. 

Apartment 6A is a one-bedroom unit with a small entry foyer next to a dining room and open kitchen leading past a staircase to the living room.  There is a staircase to a private roof terrace. 

Apartment 5H is a one-bedroom unit with 642 square feet with a 20-foot-long living room and a home office. 

Apartment 1D is a one-bedroom unit with an 8-foot-wide entry foyer and with an open kitchen and a 13-foot-long living room. 

Apartment 5N is a studio unit with 448 square feet with a long entry foyer leaded past an open kitchen to an 18-foot-long living room. 

Key Details
  • No Fee Rental built in 1970
  • Converted in 2016
  • Located in East Village
  • 81 total apartments 81 total apartments
  • Doorman
  • Pets Allowed