For a long time, Arthur Becker of the Madison Partners group has funded some big developers of the city such as Michael Stern, Kevin Maloney and Robert Gladstone but his name hasn’t been put in the projects so developed. However, he is now putting his name on a new condo project. Becker is planning to build an eight-unit building with a sellout of around $52.5 million. This will be at 465 Washington Street in Tribeca.
Upon its completion, as per plan, the street will have 7 simplex apartments and a penthouse duplex, which will be between 2000 square feet and 4000 square feet. Per square foot, the prices will be between $2200 and $3200 and a penthouse unit will cost from $5 million to $14 million. This was according to Arthur in an interview by NYDailyNews, which he also foresaw an artisanal boutique building where he admitted that 465 Washington was his preferred area because he felt that he could easily manage it.
Real Capital Analytics estimated that Arthur Becker had spent $550 million in worth on projects all in New York City. In 2012, for example, he spent $6.1 million to buy 465 Washington from Peter Moore and a further $1 million on a 30-foot easement that was to be purchased from the Ponte family who are also holders of 502-506 Canal Street. The businessman has also been involved in many other businesses such as being among the investors who bought and vended an assemblage at 251-259 Third Avenue to Alfa Development at $70 million. His biggest deals are, however, JDS Development Group and Property Market Group, which are yet to be sold.
Becker is successful in business that started as a homebuilder, had a macadamia orchard in Hawaii then majored in finance, real estate, bio and info technology. In real estate, he has focused in New York by capitalizing in Sullivan Street. Arthur owns three end-to-end townhouses inhabiting the entire 30th, 40th and 50th street. His property is prized to have cost him $22 million to go together with a $29.4 million construction fee. From his Tech dealings, particularly Atlantic Investors LLC, $500million has been entirely dedicated to real estate. For more info, visit Arthurbeckerstudio.