Arthur Becker Is Optimistic Of Making A Sellout Of $53 million
Arthur Becker, who began his real estate career as a home builder before transitioning to tech and finance investor, aims to make a sellout of $53 million for his 8-unit building at 465 Washington Street in Tribeca. The investor-turned-developer has been known to collaborate with top developers like Kevin Maloney, Robert Gladstone and Michael Stern to develop various projects in New York. Speaking to The Real Deal in his studio, Arthur said that the 465 Washington building would be an artisanal boutique building. Its interiors have been designed by Paris Forino. 465 Washington will include seven simplex apartments and a penthouse duplex, which will cover between 2000 and 4000 square feet. Prices per square foot will range between $2,200 and $3,200, while the units will go for $5 million. The penthouse will be sold at $14 million. Becker bought the project in 2012 for $6.1 million from Peter Moore. He also bought development rights from the owners of the 471 Washington’ adjacent building with the objective of expanding the 5-story building to 10-story.
About Arthur Becker
Arthur Becker is the managing member of the Madison Partners, an investment firm that specializes in biotechnology and finance. Previously, he worked as the chairman and CEO of Zinio, the largest newsstand in the world. In addition, Arthur served as the CEO of Navisite, a tech company that offers internet technology services, hosting and collocation solutions to various companies across the United States. Navisite has offices in the UK, US and India. Moreover, the corporation provides data center hosting services and cloud-based application management to the enterprise market. According to Angel.co, for seven years, Becker served as a senior advisor for the Vera Wang Fashion.
According to Real Capital Analytics, a renowned research firm, Arthur Becker’s investment in New York City stands at $550 million to date. His landmark investment is the Row condo super tower at 111 West 57th Street, a project completed by JDS Development Group and Property Markets Group. He is also the brain behind the condo development at 10 Sullivan Street, which he later exchanged for the ownership of adjacent townhouses at 30, 40, and 50. Arthur is one of the investors who purchased and sold an assemblage in Gramercy’s 251-259 Third Avenue to Alfa Development.