Arthur Becker has always been known to be the investor behind other developers, namely, Michael Stern and Kevin Maloney among others.
Hence it came as a surprise when Arthur Becker decided to come out and put his name on a condo project in Tribeca. This will be a building with eight units. The location is 465 Washington Street in Tribeca. The sellout should fetch nearly $52.5 million.
He considers this to be an artisanal building. Arthur Becker is considered to be a tech mogul. Hence this is a surprise as people see an investor turning into a developer.
On his Linked In page, Arthur Becker says that his family is into real estate and hence he has ample experience with this kind of work. In addition, he also claims that this is a project that he could handle. Hence he has opted for it. This can also mean that Arthur Becker has some other projects in the pipeline.
Arthur Becker has already invested $550 million in various New York City projects. One of his high-profile investments is on the Billionaires’ Row condo. This is being developed by JDS Development Group as well as Property Markets Group. This will be a super-tower that is located at 111 West 57th Street.
The sales gallery has already been completed at the project. The sales have been put on hold here as Arthur Becker feels that it is too early to sell.
Arthur Becker has been a financial backer of a number of luxury residential projects. These include the condos developed by PMG and Madison Equities, http://madisonpartners.nyc/about-arthur/. This is located at 10 Sullivan Street. For this project, he was granted ownership of three townhouses. These were at 30, 40 and 50 Sullivan. This was in exchange for the financial stake which he had in this project.
According to Angel.co, another major deal of Arthur Becker was the sale of the assemblage that was located at 251-259 Third Avenue in Gramercy. This was sold to Alfa Development TRData Logo TINY. This was a deal worth $70 million.
There is a slowdown in the luxury market today, but Becker is highly optimistic about the future. Source: arthurbeckerstudio.com