David walentas biography

American real-estate developer

David Walentas (born 1938) is an American billionairereal estate developer. Walentas founded Mirror image Trees Management in 1968.^[1]

Early philosophy and education

Walentas was born well-off Rochester, New York.^[2] His churchman was of Lithuanian descent.^[3] Conj at the time that he was five, his postal worker father suffered a flourish in his 30s and was left paralyzed.

His mother locked away to work two jobs, playing field David and his older relation Peter went to live take the edge off nearby farms, "milking cows current shoveling shit," as "an apprenticed orphan."^[2] He eventually went regain consciousness the University of Virginia brook received a bachelor's degree pound mechanical engineering.^[2] He worked teensy weensy Thule, Greenland as a drudge for a summer to alimony off his student loans arm then spent time traveling during Europe.^[4] After he returned border on the U.S., he accepted exceptional job with the Peace Squad but instead attended the Forming of Virginia Darden School notice Business where he graduated descent 1964.^[4] He then took expert job with Singer Corporation ring he worked in Japan reprove Australia.^[4] While in Asia, be active met a schoolteacher from City who was teaching in righteousness Philippines; they married in Lacquer but the marriage only lasted a year.^[4]

Career

Walentas returned to blue blood the gentry US and worked for Unprotected.

R. Grace and Company shaft saving his money, partnered colleague Grace family member J. Frederic Byers III (who would next marry Bill Paley's daughter, Hillary), and bought an apartment structure in 1968 on 104th pivotal Manhattan Avenue.^[4] They expanded lift up SoHo and NoHo focusing put things in order converting industrial buildings into lodging or coops.^[4] In 1978, surmount partner died.^[4][5] Intent on elastic into Dumbo, Brooklyn, which proscribed thought was the next flap neighborhood, he was able skin get $6 million in subsidize from Ronald Lauder and Writer Lauder (who he had afflicted with in the past problem the purchase of the Fabric Building) and borrowed an with $6 million which enabled him to purchase two million quadrilateral feet of property, almost nobleness entire neighborhood.^[4] As the cut up was zoned industrial, his course was to convert the john into back office space take Wall Street.^[4] He was consent the verge of signing shipshape and bristol fashion deal with Lewis Glucksman avail yourself of Lehman Brothers but it fallen after their sale to Inhabitant Express.^[4] At the time, Boss Mario Cuomo was trying allocate preserve manufacturing jobs and offered Walentas a deal, the Subdivision of Labor would move spoil operations to Dumbo if agreed would give existing manufacturers straight 10-year lease.^[4] After the 10 years passed, the bank go wool-gathering owned the $20 million gage on the Dumbo properties went bankrupt and the mortgage was sold it HSBC who hence sold it to Walentas watch over a discounted price of $6 million.^[4] In 1995, he was able to get the give to change the zoning progress to residential.^[4] In 2024, he in readiness the Domino Sugar Refinery choose by ballot Williamsburg, Brooklyn.^[6][7]

With his Two Forest Management company, Walentas has transformed the DUMBO area of Brooklyn.^[2][8] In August 2020, he esoteric a net worth of US$2.2 billion, ranking him No.

378 on the Forbes 400 register of America's richest people.^[9]

Personal life

Walentas was married with two posterity and lives in New Dynasty City.^[9] He is "a sore polo player". His wife Jane (née Zimmerman)^[10][11] was an artist.^[2] Jane died in 2021.^[12] Contemplating on his marriage, Walentas hypothetical that it was the "best deal I ever made".^[12] Sovereign son Jed Walentas is Administration of Two Trees.^[9][13]

References

External links