Success in the New York real estate investment world depends on several things, most notably a keen eye for great opportunities, a sense of the market, and great timing. Investors who have these attributes stand out, as their investments tend to go very well. Investor Arthur Becker, who is the first to admit he’s been blessed with great timing, is one such investor. His most recent project, (his first from the “ground up” condo building) is 564 Washington Street. This 8-unit luxury building is on the market now at $52.5, and is expected to get its asking price.
A Silent Partner
Prior to this project, Arthur Becker was a silent backer of several properties, including 10 Sullivan St. His partners, Michael Stern and Robert Gladstone, eventually bought out his share in the successful property, trading him three adjacent buildings in the deal. Right now Becker plans to live in one of the properties and sell the other two. Before 10 Sullivan Street, he partnered with Michael Stern and Kevin Maloney in a Billionaire’s Row condo at 111 W. 57th Street. His good fortune with these deals has paved the way to an ongoing career as an investor in real estate. Arthur will balance that work with his interest in art, as an investor and as a working artist himself.
Arthur Becker has long been involved in the arts, as he was married for 20 years to designer Vera Wang. They are now separated, but obviously, his presence in the arts is more than just a short term interest. His at home, on-site working art studio attends to his great passion for the art life.
In a report by NY Curbed, all of this came from Becker’s early investment in some startup companies in Silicon Valley back in the early 2000s. His eye for the “real deal” back then has served him well, and will keep serving him well into the future.
Check out arthurbeckerstudio.com