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Walentas (far left) at the groundbreaking for the Tobacco Warehouse performing arts center. Eagle photo by Rob Abruzzese

Two Trees' Walentas among FORBES list of real estate royalty

Brooklyn Daily Eagle

Real Estate Royalty – DUMBO's got it, according to Forbes.

The lone Brooklyn-based builder to make it onto the magazine's list of the city's richest developers is David Walentas of Two Trees Management in DUMBO, clocking in at Number 8 with a net worth of $1.4 billion.

Numero Uno among the heavy hitters is Richard LeFrak, with a net worth of $5.6 billion. Donald Trump, whose net worth is pegged at $3.5 billion, is also on the list of men with the Midas touch.

(Yes, all nine are men.)

Read the full list on Forbes’ website.

A separate Forbes story recounts Walentas' transformation of waterfront DUMBO into a swanky spot full of tech tenants, art galleries and pricey apartments. It calls his $12 million purchase of 2 million square feet of neighborhood property in 1979 “one of the best New York real estate deals since Peter Minuit bought Manhattan for trinkets and beads.”

 

January 23, 2014 - 12:30pm


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