Arthur Becker is taking his burgeoning real estate business down to Soho in order to work on a new development, reports are showing. Arthur Becker made his first fortune as a stockbroker before switching gears in order to focus on a slew of other enterprises. Over the past several years we have seen Becker become a bigger and bigger force in the real estate world, culminating with some high end developmental work. Now involved with a condo project down in Soho, reports are showing that Becker has doubled down on his investment by purchasing three different townhouses adjacent to the Soho development project he had already invested in.
If you hadn’t yet heard of Becker’s work in real estate by name, you’ve likely read about it in any event. Arthur Becker has quietly been becoming one of the bigger fores in New York’s real estate scene. He’s done so by playing the role of quiet backer to some of the bigger real estate moguls in the city. Arthur Becker has worked directly with Kevin Maloney and his team at Property Markets Group as well as Robert Gladstone and the crew at Madison Partners Equities. Becker’s bigger developments of his own have been on Billionaires’ Row and 465 Washington Street. His work on the Soho developmental project will now take on renwed importance as his primary focus.
Public information regarding financial statistics has been pretty quiet thus far in the development, but analytics from Real Capital Analytics shows that Becker is almost $15 million deep into this project. This price comes from Becker’s initial investment as well as the purchase price for the trio of additional townhouses. The townhouses are located at 30, 40, and 50 Sullivan Street. These townhouses are all 6,500 square feet when they are finished being built. After the purchase Becker anticipates that they will be done being built within 90 days. Becker plans to live in one while selling the other two.
The reason that Becker chose the Soho development was pretty obvious. He considers Sullivan Street to be one of the most charming streets around the city.