Arthur Becker was the first to financially support the development of a condo project on 10 Sullivan Street aptly named the Billionaire’s Row. This was in partnership with Property Markets Group and JDS Development Group. It is suggested that he spent $20 million in equity and mortgage in this deal. As part of his stake in the condos project, Arthur Becker has taken control of three townhouses that are right next to the project including 30, 40 and 50 Sullivan Street.
According to perezhilton.com, he has also acquired development rights from owners next door and a 30-foot pathway connecting to the back of this property. Prior to this project, Arthur Becker had been involved with legendary developers in Washington such as Kevin Maloney and Michael Stern. This time, he is confident of succeeding alone.
Arthur is considering a construction loan for the luxury condominiums project which is expected to take two years to complete. By then, 465 Washington Street in Tribeca will have eight units valued at over $53 million consisting of a penthouse duplex and seven simplex apartments.
Arthur Becker made his name and fortune in the technology industry. He is the former head of NaviSite, a publicly traded technology company providing online enterprise technology services, hosting and business colocation services with a focus on the US and UK markets. Arthur served as CEO of NaviSite from 2002 to 2010. Arthur was instrumental in the sale of NaviSite to Time Warner in 2011.
In addition, he has also been the CEO and Chairman at Zinio, a global digital magazine distribution service, from 2012 to 2015. Also, Arthur serves as a managing member of Atlantic Investors, a real estate investment firm. He has since shifted his focus to real estate development and finance.
Arthur is a successful entrepreneur (http://nymag.com/nymetro/news/people/features/15541/index2.html) with huge interests in real estate, technology, biotech, and finance. Currently, he is serving as a managing member of Madison Partners, an investment firm with interests in real estate and biotech startups. Arthur Becker has invested over $500 million in luxury real estate development projects in New York City and Miami through Madison Partners. He is also passionate about the evolution of the biotech space especially cancer therapy options.
Arthur thrives by creating the perfect harmony between his avid drive and critical thinking. For more info, check out Arthu’s Wikipedia page.