Arthur Becker, a tech mogul had put some money behind the biggest developers such as Michael Stern and Kevin Maloney. However, this time around Becker, an investor turned real estate developer put his name on a condominium project. He’s currently planning an eight-unit building at 465 Washington Street in Tribeca. With the help of Paris Forino designing the interior of the building, he estimates the project will sell for $52.5 million.
When the townhouse is completed, it will have seven simplex apartments and a penthouse duplex. It’ll range from 2,000 to 4,000 square feet and the price will range from $2,200 to $3,200 per square foot. The unit will be $5 million and the penthouse will be $14 million.
When real estate developer Peter Moore faced a 4.7 million foreclosure after defaulting on a loan, Becker bought out 465 Washington for $6.1 million. Becker then expanded the five-story building to 10 stories. In order to expand the building, Becker bought development rights from the owners.
Arthur Becker founded NaviSite, an Internet technology service from 2003 to 2010. He also served as a senior advisor for Vera Wang Fashion Company for 7 years. He also served as a CEO and Chairman for the popular newspaper magazine app, Zinio. After selling NaviSite to Time Warner in 2011, he focused his pursuits in real estate and technology.
From 2011, Becker became a Managing Member of Madison Partners, LLC. Madison Partners, LLC, is an investment firm that focuses on real estate. From that time on, he secured an investment at the Sullivan Street, which consisted of three townhouses on Sullivan Street. These townhouses are adjacent to one another and are being developed so that once they’re completed their value will increase. Along with real estate, his company also is part of the technology industry. View Arthur Becker’s biography on arthurbeckerstudio.com.