In an article on The Real Deal, if you want to put your finger on the pulse of New York City real estate then you wouldn’t be too poorly off by keeping an eye on Arthur Becker. Arthur Becker is one of the most prominent real estate developers in New York City and his path to this career choice has been one worth watching, reading about, and learning from. Most recently we saw that Becker doubled down on an investment, his Soho project, by laying down more investment in actual real estate via the purchase of three townhouses.
If you haven’t heard of Arthur Becker quite yet then we don’t blame you. For years Arthur Becker has worked as a behind the scenes partner in the New York City real estate environment. Becker has been the money man, or quiet investor, for a host of the biggest people in the New York real estate scene. From Kevin Maloney and the Property Markets Group to Robert Gladstone at Madison Equities, Becker has been there every step of the way. Becker’s biggest work has been with Billionaire’s Row but now it appears that he is becoming the focal point of his next big project on Sullivan Street, located in Soho.
According to Huffington Post, Becker purchased into the Soho development with a multi-million dollar investment early on in the process. Now Becker is doubling, or even tripling, down on that investment by purchasing three townhouses that are adjacent to the property – 10 Sullivan Street. Becker has recently purchase 30, 40, as well as 50 Sullivan Street all at once. Though Becker declined to comment on how much he paid for the townhouses, public records show that he is nearly $15 million deep in terms of investment cash. Becker HAS stated that he will be planning on living within one of the townhouses after they are finished being built while he focuses on selling the additional two. The Soho development project looks to be one of Becker’s biggest home runs since entering the New York real estate scene and we think that he should have an easy time getting more than just his money back when all is said and done, at least according to the analytics.