Werner started his career as an accountant and then began to invest in real estate with partners from his community in Brooklyn.[1] After bidding on a building that was being sold by the estate of real estate investor Sylvan Lawrence, he found out that he had the right to seek a price reduction but instead committed to the transaction as he had given his word.[1] In 1997, he was rewarded for his integrity by Lawrence's heirs who gave him first rights to a portfolio of four buildings which Werner purchased for $387.5 million and sold his interest for a $7.5 million profit.[1] As one of the buildings (111 Eighth Avenue) was later sold to Google for $1.8 billion, Werner changed his investment strategy and started holding a higher interest (typically 10%) for a longer period.[1] Werner is considered a real estate syndicator following the model pioneered by Harry Helmsley meaning that he makes a bid for a property putting down a large nonrefundable cash down payment and then goes to his investor network to raise the additional money to close the transaction and secure a fee.[2] From 2000 to 2014, Werner purchased $10.6 billion in real estate including the 2003 purchase of 11 Madison Avenue for $673 million.[1] In 2012, Werner partnered with Brooklyn real estate investor Joel Schreiber and purchased One Court Square for $481 million in Long Island City, Queens from Stephen L. Green's SL Green and JPMorgan Asset Management.[3] In 2014, with $2.4 billion in purchases, he was the single largest purchaser of real estate in New York City[1] which included the $1.5 billion purchase of 5 Times Square from Allan V. Rose's AVR Realty and the $900 million purchase of the Socony–Mobil Building from Hiro Real Estate.[2] His long time investment partner is Mark Karasick who will own and manage the property while Werner earns a transaction fee and maintains his minority interest.[1] In 2019, he paid $500 million for a 40% interest in 237 Park Avenue from Scott Rechler's RXR Realty and Walton Street Capital.[4]
^ abcdefghiLevitt, David M. (November 10, 2014). "T-Shirt-Toting Brooklynite Is NYC's Top Property Buyer". Bloomberg News. Werner, 60, is a religious man who almost never gives interviews. His determination to keep a low profile is derived from the Jewish notion of “ein hora,” literally “evil eye” in Yiddish, according to two people close to him
^ abGeiger, Daniel (June 23, 2014). "One-man buying machine bids unrefusable prices". Crain's New York Business.
^Putzier, Konrad (December 1, 2017). "The story of WeWork's mysterious first investor". The Real Deal.
^Bockmann, Rich (January 23, 2019). "RXR and Walton Street Capital near deal to sell 237 Park Ave stake to David Werner". The Real Deal.
January 06, 2023
david, werner, real, estate, investor, david, werner, born, 1953, american, real, estate, investor, founder, david, werner, real, estate, david, wernerborn1953, 1954, nationalityamericanoccupationreal, estate, investorknown, forfounder, david, werner, real, es. David Werner born c 1953 is an American real estate investor and founder of David Werner Real Estate David WernerBorn1953 1954 age 68 69 NationalityAmericanOccupationReal estate investorKnown forFounder of David Werner Real EstateBiography EditWerner was born to an Orthodox Jewish family the son of Holocaust survivors and raised in the Washington Heights neighborhood of Manhattan 1 Werner started his career as an accountant and then began to invest in real estate with partners from his community in Brooklyn 1 After bidding on a building that was being sold by the estate of real estate investor Sylvan Lawrence he found out that he had the right to seek a price reduction but instead committed to the transaction as he had given his word 1 In 1997 he was rewarded for his integrity by Lawrence s heirs who gave him first rights to a portfolio of four buildings which Werner purchased for 387 5 million and sold his interest for a 7 5 million profit 1 As one of the buildings 111 Eighth Avenue was later sold to Google for 1 8 billion Werner changed his investment strategy and started holding a higher interest typically 10 for a longer period 1 Werner is considered a real estate syndicator following the model pioneered by Harry Helmsley meaning that he makes a bid for a property putting down a large nonrefundable cash down payment and then goes to his investor network to raise the additional money to close the transaction and secure a fee 2 From 2000 to 2014 Werner purchased 10 6 billion in real estate including the 2003 purchase of 11 Madison Avenue for 673 million 1 In 2012 Werner partnered with Brooklyn real estate investor Joel Schreiber and purchased One Court Square for 481 million in Long Island City Queens from Stephen L Green s SL Green and JPMorgan Asset Management 3 In 2014 with 2 4 billion in purchases he was the single largest purchaser of real estate in New York City 1 which included the 1 5 billion purchase of 5 Times Square from Allan V Rose s AVR Realty and the 900 million purchase of the Socony Mobil Building from Hiro Real Estate 2 His long time investment partner is Mark Karasick who will own and manage the property while Werner earns a transaction fee and maintains his minority interest 1 In 2019 he paid 500 million for a 40 interest in 237 Park Avenue from Scott Rechler s RXR Realty and Walton Street Capital 4 Personal life EditWerner lives in the Borough Park neighborhood of Brooklyn with his wife 1 References Edit a b c d e f g h i Levitt David M November 10 2014 T Shirt Toting Brooklynite Is NYC s Top Property Buyer Bloomberg News Werner 60 is a religious man who almost never gives interviews His determination to keep a low profile is derived from the Jewish notion of ein hora literally evil eye in Yiddish according to two people close to him a b Geiger Daniel June 23 2014 One man buying machine bids unrefusable prices Crain s New York Business Putzier Konrad December 1 2017 The story of WeWork s mysterious first investor The Real Deal Bockmann Rich January 23 2019 RXR and Walton Street Capital near deal to sell 237 Park Ave stake to David Werner The Real Deal Retrieved from https en wikipedia org w index php title David Werner real estate investor amp oldid 1002239460, wikipedia, wiki, book, books, library,
