Arthur Becker Jumps into Soho Real Estate Project
The New York real estate scene just got a whole lot more interesting this year as tech mogul and quiet investor Arthur Becker decided to get more active. Arthur Becker’s name shouldn’t come as a surprise to anyone paying attention to the market but the depth of his activity might surprise some people. Becker is a tech mogul who made his first fortune buying and selling tech companies as a stockbroker. Now he is taking the next step toward his real estate empire’s growth by purchasing a trio of lots in Soho.
For the past several months Arthur Becker has been developing his presence in an investment in the Soho neighborhood, specifically on Sullivan Street. Through Becker’s real estate investment company, Atlantic Investors LLC, Becker bought into 10 Sullivan Street. Now the news most recently broke that Becker had also decided to purchase the lots at 30, 40, and even 50 Sullivan. At the time of this writing these lots do not have their townhouses completely built but Becker has already gone on record to say that they will be finished within 90 days. Once these townhouses are finished being built Becker plans to live in one while selling or leasing the other two. So far Becker has invested roughly $15 million into the Sullivan Street project and his hope is to dramatically improve once the townhouses go to market.
Becker quickly parlayed that first fortune into a career as an entrepreneur. He bought into such things as a custom binocular (Bnox — they didn’t sell well), macadamia nut farms in Hawaii (which sold well), and a host of other things. Becker’s goal all along, however, was to land as a force in the real estate world. For the past several years Becker has been doing just that, becoming a quiet force in real estate as both a backer and his own company. The Sullivan Street project looks like it should pay great dividends when all is said and done. More details can be found on Bloomberg.