113:. His firm focuses on the conversion of non-residential buildings to residential uses. One of Bistricer's latest ventures, in partnership with Chetrit Group, is the transformation of the shuttered four-building Cabrini Medical Center at 220 and 230 East 20th Street and 215 and 225 East 19th Street into a residential a condo project, Gramercy Square, with 223 units. The Woods Bagot-designed development features a different style for each property: a modern, a prewar, a boutique and a tower building. It also has about 38,000 square feet of amenities including a 75' sky-lit pool, a gym, a theater, a meditation room exclusively programmed by MNDFL and a wine cellar. And there's ample green space with a courtyard, a greenhouse and landscaping around the buildings.
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for $ 138.2 million with the intent to renovate them into a collection of spacious rental apartments, since renamed
Flatbush Gardens. At the time of purchase, the complex had over 12,000 housing code violations inherited by Bistricer. By 2016, Bistricer spent diligent effort and $ 20 million in
157:. In 1994, they were charged with not disclosing sufficient information to the buyers of the units and in 1998, they were banned from selling co-ops and condos. In 2001, the restriction on the family business was partially lifted and in 2009, it was fully lifted.
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in New York City for $ 1.1 billion, intending to convert the building into condominiums. They halted the project in 2016 due to fears of an over-supply of luxury housing, instead selling the building for $ 1.4B to the
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for $ 11 million. Also in 1987, Bistricer purchased 30% of the
Chicago-based electrical wire manufacturer, Coleman Cable (which went public in 2007). In 2002, he expanded into Brooklyn purchasing two
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in
Manhattan. Bistricer joined the family business in the 1970s. In the 1980s, the Bistricer family was heavily involved in the conversion of rental buildings in New York City into
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In 1987, in his first large transaction, Bistricer partnered with real estate investor Jacob
Schwimmer and purchased a four-tower, 960 apartment complex at 101 Wadsworth Avenue in
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Downtown Brooklyn and converted the building into the 219-unit BellTel Lofts condominiums, one of the first large residential projects in Downtown Brooklyn.
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renovations to effectively reduce those violations by over 95%. Currently the complex is 97% occupied and considered a highly desirable place to reside.
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Bistricer has a conservative investment methodology and typically minimizes the use of debt with no more than 70 percent debt to equity.
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145:. In 1951, his family immigrated to New York City when Bistricer was two. In New York, his parents invested in real estate primarily on
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for $ 80 million; they sold their interest in 2013. In 2013, Bistricer began the restoration and reconversion to a hotel of the former
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640:"At Clipper Equity, Generational Change - Among other things, the company may sell part of its portfolio to the public"
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323:"David Bistricer gets busy - The $ 1.1 billion Sony Building buy is not the only deal occupying the investor's time"
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with his wife Esther. They have five children. His son J.J. Bistricer is also active in the family business.
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684:"Brooklyn, NY - Young Charedi Real Estate Mogul Praised For Revitalizing Living Conditions In Apt. Complex"
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In 2013, in his largest transaction to date, Bistricer and his partner Joseph
Chetrit, purchased the
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In 2012, Bistricer donated $ 70,000 to various nonprofit groups including
Yeshiva Simchas Chaim in
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109:(born August 10, 1949) is a New York-based real estate developer and the founder and principal of
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In 2005, Bistricer purchased the rent-regulated 59 building
Vanderveer Estates Apartments in
611:"How did this man buy that building? - Joseph Chetrit grabs Sony Building with $ 1.1B offer"
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Curbed NY: "Joseph
Chetrit Sues Hotel Chelsea's Former Owners for $ 4.15M" by Hana Alberts
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365:"Well-Being Facilities, Designs From Top Pros and Sky-High Perks: The Amenities of 2019"
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391:"High Off His Sale of the Sony Building, David Bistricer Talks Condos, de Blasio"
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family, the son of Moric and Elsa
Bistricer. His mother was a prisoner at the
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office buildings for $ 40 million; and in 2005, he purchased the 27-story
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192:. A year later, his bid to purchase for $ 1.3 billion the rent regulated
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584:"King & Grove reneges on Hotel Chelsea eviction vow: Tenants"
666:"Plan to Turn Sony Building Into Luxury Apartments Is Abandoned"
554:"First, No More Guests; Now, Chelsea Hotel Says No More Art"
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498:"Aspiring Buyer of Starrett City Is Back Onstage"
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716:American people of Belgian-Jewish descent
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736:Belgian emigrants to the United States
721:American businesspeople in real estate
756:Philanthropists from New York (state)
746:21st-century American philanthropists
638:Agovino, Theresa (October 11, 2015).
552:Kilgannon, Corey (November 4, 2011).
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664:Bagli, Charles V. (April 29, 2016).
389:La Guerre, Liam (November 8, 2017).
206:Stuyvesant Town–Peter Cooper Village
609:Geiger, Daniel (January 27, 2013).
496:Bagli, Charles V. (April 6, 2007).
175:New York Telephone Company building
761:People from Borough Park, Brooklyn
321:Pincus, Adam (September 1, 2013).
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726:Businesspeople from New York City
416:Pincus, Adam (February 1, 2011).
526:"Hotel Chelsea's New Proprietor"
131:Bergen-Belsen concentration camp
524:Carmin, Craig (May 16, 2011).
445:"The Closing: David Bistricer"
137:while his father hid from the
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443:Solomont, E.B. (March 2016).
428:on March 4, 2016 – via
471:"Complex: Flatbush Gardens"
224:in Manhattan into housing.
208:. In 2011, partnering with
188:In 2006, Bistricer founded
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766:21st-century American Jews
202:Tishman Speyer Properties
71:Founder and Principal of
451:. Korangy Publishing Inc
117:Early life and education
644:The Wall Street Journal
531:The Wall Street Journal
222:Cabrini Medical Center
121:Bistricer was born in
63:Real Estate Developer
590:. September 17, 2013
430:The Wayback Machine
395:Commercial Observer
259:Bistricer lives in
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690:. November 7, 2008
670:The New York Times
558:The New York Times
503:The New York Times
418:"Clans with plans"
167:Washington Heights
133:in Germany during
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352:. Clipper Equity.
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155:cooperatives
151:Fifth Avenue
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741:1949 births
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455:January 23,
401:January 23,
334:January 23,
196:complex in
52:Nationality
710:Categories
475:Streeteasy
374:January 4,
271:References
229:Sony Tower
60:Occupation
34:1949-08-10
95:Parent(s)
265:Brooklyn
143:Budapest
87:Children
55:American
161:Career
125:to an
79:Spouse
139:Nazis
696:2020
651:2020
622:2020
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376:2019
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149:and
90:Five
28:Born
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