Arthur Becker is a top-tier real estate mogul who’s parlayed an early career as a Bear Sterns stockbroker (he made a killing in in the early 2000’s when he bought up several up-and-coming tech companies) into a major presence as a real estate developer and investor. His current project, at 564 Washington Street in New York, is a condo with 8-units. It is expected to sell for the current price of $52.5 million, making this one of the higher end luxury condos on the market.
A Success as a Silent Partner
Before launching the development of 564 Washington Street (which is his first “from the ground up” real estate development deals) he worked as a silent partner in numerous deals, including acting as a backer for the Billionaire’s Row project at 111 W. 57th Street. This project was developed by Michael Stern and Kevin Maloney. He also acted as an investor in Maloney and Robert Gladstone’s 16-story condo development, called 10 Sullivan Street. All these projects showed Becker’s knack for picking projects that come with a lot of cache’ and that turn a tidy profit. In today’s up-and-down business climate, this kind of knack is a very attractive quality indeed.
The 10 Sullivan Street project did so well the other partners in the deal negotiated a deal with Becker in exchange for his ownership in the condo development. Arthur Becker received ownership of three of the properties next to 10 Sullivan Street, in exchange for his part of the property. His plan is to live in one of the properties and sell off the other two.
Moving Forward With an Interest in Art and Real Estate
Becker is moving forward after separating (in 2012) from his wife of 20 years, designer Vera Wang. With his current success in real estate, he is poised to continue to work in that arena, even as he pursues an active interest in collecting and creating art. For more info visit Madison Partners.