Arthur Becker, a tech mogul, recently acquired three adjoining townhouses located on Sullivan Street in Soho, reports therealdeal.com. Mr. Becker in turn let go of his stake in a nearby condominium development. According to recently filed public records, Arthur Becker, is the new owner of 30, 40 and 50 on Sullivan Street. These 6,500-square-foot townhouses were among the four homes that Kevin Maloney’s Property Markets Group and Robert Gladstone’s Madison Equities developed. The developments were made together with the 16-story condo building shaped like a boat.
Becker revealed that he had made an investment in the project and got the three townhouses from it. He did not however, reveal the exact amount that he invested. He did not make any additional investments apart from about $4 million he used to renovate one of the houses where he is planning to live. The townhouses are expected to be complete in about 90 days and he is planning to lease or sell the other two houses. They have large backyards thus increasing their chances of fetching higher prices than the 20 Sullivan. Becker commended PMG and Madison for doing a great and beautiful thing on the weird property. He was delighted for acquiring the houses as they are located on one of Soho’s charming streets.
About Arthur Becker
Arthur Becker is the managing partner of Madison Partners, LLC. It is an investment company that focuses on real estate as well as early stage Bio Tech business enterprises. He was the former CEO and chairman of Zinio, LLC, from 2012 – 2015. According to perezhilton.com, he was previously the CEO of NaviSite for eight years from 2002 to 2010. NaviSite provided cloud-based and data center hosting services to the enterprise market. Mr. Becker also acted as Vera Wang Fashion company’s senior advisor for a period of 7 years.
From his experience in these organizations, Becker engaged a lot in the fields of real estate and technology. After NaviSite was acquired by Time Warner in 2011, Arthur opted to expand his real estate interests by making investments in the condomium development sector in Florida, Miami and New York City. According to RCA, Mr. Becker has deployed about $500 million in New York’s real estate industry via Atlantic Investors LLC.