Prominently known as a tech mogul and real estate investor, Arthur Becker has been the brain behind some of the city’s biggest investors in real estate like Kevin Maloney and Michael Stern. This time, he made a name for himself by deciding to invest in a condominium project. According to reports provided by the office of the attorney general a week into Arthur Becker’s decision to invest in the 465 Washington Street building, the investor’s project is estimated to be $52.5 million. In his recent interview with Real Deal, Arthur said that the building would have amazing art by Paris Forino. Becker stated that he purchased the building as a primer.
The now prominent investor, who was a macadamia operator and home builder in the past, explained on Bloomberg his love for Tribeca hence his decision to invest in the building. The 465 Washington building is projected to have seven simplex apartments in addition to one penthouse. The rental charges will be expected to range from $2,200 to $3,200 per square foot. The unit’s costs will range from $5 million to $14 million for the penthouse. Also see, http://ny.curbed.com/2016/8/30/12715656/10-sullivan-soho-townhouses-arthur-becker.
In 2012, Becker purchased the 465 Washington building at $6.1 million from Mr. Peter Moore. This occurred after a foreclosure suit faced by Moore. To multiply growth of the five-story building by two, Becker also purchased rights to development from the owners of 471 Washington building. According to property records, Becker also paid more than $1 million for a foot easement of approximately 30 foot. Recent research by Real Capital Analytics shows that Becker has totally invested in projects worth $550 million in New York City.
Arthur is the serving chairman and chief executive officer of Zinio. Initially, he served as the chief executive officer of NaviSite. It is a NASDAQ company providing technological and application services to clients in the United States of America. He served the company from 2002 to 2010. Under his leadership, the company offered customers with data center hosting as well as cloud-based application to businesses. According to pagesix.com, Arthur also served as senior supervisor for Vera Wang for seven years.