While Arthur Becker to this point has been the quiet money behind some of New York City’s biggest condominium developments, he is putting his own name on a new, eight-unit luxury property development in Tribeca. The value of the finished building is projected to be $52.5 million.
Mr. Becker conducted an interview with The Real Deal. He called the building an “artisanal, boutique building” that he bought as he enjoys the surrounding area. The sizes of each unit will range from 2,000 to 4,000 square feet and will be priced from $2,200 to $3,200 a square foot. Each will be priced between $5 million to $14,000 million (which will be the price of the penthouse). You can check out his Linkedin.
Arthur Becker bought the property in 2012 for $6.1 million. Additionally, he needed to buy the development rights from a neighbor in order to expand the building from five-stories to ten. Altogether, he has invested about $550 million into residential properties around New York. His biggest project was the Billionaire’s Row condominium tower at 111 West 57th Street. Sales for this building are on hold, however, as there isn’t currently enough demand to generate top dollar offers for the units in the building.
According to MadisonPartners, Arthur Becker made a great deal of his wealth in the technology sector. He was the Chief Executive Officer and Board Member for NaviSite which provides technology services to other corporations. He was also the Chairman of the Board and CEO of Zinio, LLC, which is the world’s largest provider of digital magazines.
Mr. Becker graduated from Bennington College with his bachelor’s and earned a business degree at the Tuck School of Business at Dartmouth. His first job was moving 18th century houses in New England, and he has also manage a macadamia field in Hawaii. Arthur Becker has had a lifelong interest in the arts and his work has been displayed at galleries in both New York and Palm Beach, Florida. For more info about Becker visit Crunchbase.
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