Arthur Becker a prominent investor. He made his fortune in the technology industry and also has an interest real estate. He is currently the executive director at Navisite, Inc. in Massachusetts.
Not to be confused with the retired professional basketball player, this Arthur Becker he owns, among other properties, three townhouses in Soho in New York City and is tied into a condominium development. More specifically, he has investments in 10 Sullivan Street. He is the owner of 30, 40 and 50 Sullivan Street.
The above-mentioned townhouses were among properties developed by Robert Gladstone’s Madison Equities and Kevin Maloney’s Property Markets Group. Becker initially did not reveal just how much he invested. Information from Real Capital Analytics, however, revealed that he secured a $5 million mortgage and put out $15 million worth of preferred equity on this property project. Today the actual value of the property is reported to be significantly higher. Check out LinkedIn for more info.
By Becker’s own estimates, he put another $4 million into one of the three townhouses because he was actually planning on moving into it. He thought the other pair of townhouses would serve as investment opportunities and planned to lease or sell them. He told the press that the other two were noteworthy opportunities because they both have bigger backyards than the 20 Sullivan townhouse he did not purchase.
RCA reported that Becker invested at least $500 million into New York real estate through his company Atlantic Investors LLC. Becker expressed his satisfaction with the project, including the previously-noted condominium, telling reporters that PMG and ME made something “beautiful” on a unique piece of property. He also praised all the work done in order to maximize the physical height of the condominium. You can visit Madison Partners to know more.
He added that the four buildings were constructed on “one of the most charming streets” in the area which is why he admitted he was “excited to own them.” Becker has also made other real estate investments with the Property Markets Group, AmBase Corp, and the JDS Development Group.