Is there an industry harder to break into and even harder to succeed in than the real estate world of New York City? We aren’t sure that it is harder anywhere else to make it but tech mogul turned real estate investor Arthur Becker has been doing a bang up job of it. Arthur Becker got his first fortune working as a stockbroker who traded in tech companies. Becker turned that fortune into an empire, generating income in various industries around the world. Now Becker is further establishing himself in the realm of real estate with a new Soho development.
In an article on The Real Deal, it can take a while to establish you in the New York City real estate industry but Becker wasted no time. He kicked off his career in real estate by becoming the quiet backer for RObert Gladstone and Kevin Maloney as well as their respective companies: Madison Equities and Property Markets Group. Becker learned the ropes and got in on the ground floor of many of the bigger development projects in New York by going this route, including Billionaires’ Row. Now Becker is playing the role of lead investor as he works on a Sullivan Street, Soho developmental project.
According to Huffington Post, Becker has been mum with the majority of financial information but he has reportedly put about $15 million right into the condominium development that will take place on 10 Sullivan Street. Recently the news broke that Becker had also purchased ownership of 30, 40, as well as 50 Sullivan Street to bulk up his role in the project. While townhouses do not exist on these lots as of yet, Becker assures viewers and readers that they will be built within the next 90 total days. Once built it is Becker’s plan to live in one of the townhouses while selling off or merely leasing the other two townhouses.
To say that Arthur Becker was excited about the Soho project would be an understatement. Becker called Sullivan Street: “One of the most charming streets in Soho” before adding on that it was this reason that he decided to buy into the townhouse development.