Two Trees' Walentas among FORBES list of real estate royalty
By Lore Croghan
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.)
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.”