Jacob Frydman

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Jacob Frydman
Born Jacob Abraham Frydman
(1957-09-05) September 5, 1957 (age 60)
New York City
Residence Hyde Park, New York
Education B.S. Boston University
J.D. Case Western Reserve University School of Law
Occupation Real Estate developer
Spouse(s) Elyse J. Frydman (1984-1997; divorced; 2 children)
Monica Libin (1998–present)
Children 2
Parent(s) Lea Fishman Frydman
Michel Frydman

Jacob Frydman (born September 5, 1957) is a New York-based real estate developer investing in commercial real estate projects in the East Coast of the United States.[1]

Some of his real estate investments in New York include the acquisition of the Global Crossing building from Goldman Sachs,[2][3] and acquisition of 500 Tenth Avenue, which he re-developed into the DHL Center in Manhattan.[4]

Early life and education[edit]

Frydman was born to a Jewish family, the son of Lea (née Fishman) and Michel Frydman.[5][6] His father owned a construction company in New Jersey.[7] He has a B.S. in Finance from Boston University and a J.D. from Case Western Reserve University School of Law.[8]

Career[edit]

Lambdastar Infrastructure Partners[edit]

In a 1997 bid intended to rescue the city of Harrisburg, Pennsylvania out of its bankruptcy, Frydman offered to lease the city-owned parking and other infrastructure assets [9] Lambdastar failed to raise the necessary capital.[10] The deal did not proceed, and Lambdastar closed its doors.[11]

United Realty Trust[edit]

Frydman is the former chairman and chief executive officer of United Realty Trust[12] a small public non-traded real estate investment trust (REIT). The firm invested in real properties, and joint ventures. In September 2015 Frydman announced the sale of the company to Sacramento-based First Capital.[13]

Starrett Corporation[edit]

In June 1997, Frydman tried to purchase a controlling interest in Starrett Corporation. He offered $84 million, or $12.25 per share, after reaching an agreement with brothers Paul Milstein and Seymour Milstein, who together owned 33% of Starrett's shares, and president Henry Benach, who owned 19% of Starrett's shares.[1] The company however was sold to other buyers.[14][15]

Additional activities[edit]

Frydman is a member of the board of directors of the Bardavon 1869 Opera House.[16]

In 2013, Frydman as the CEO of United Realty starts United Realty Students - a scholarship program awarding $100,000 to students who best answer the question "How Do I Invest In My Future?"[17][18]

References[edit]

  1. ^ a b "Investor to Pay $80.4 Million To Buy Starrett Corporation", New York Times, June 27, 1997, pg. B5.
  2. ^ Weiss, Lois (December 11, 2002). "Former crossing spot may get foodie studio". NY Post. Retrieved December 11, 2002. 
  3. ^ "Manhattan Partnerships Shopping Westside Telecom Building". Institutional Investor. Retrieved August 10, 2004. 
  4. ^ Liskovich, Max. "DHL Takes 250,000 SF on Manhattan's West Side". CoStar. Retrieved November 22, 2005. 
  5. ^ Jewish Times: "Obituary: Mechel Frydman" BY MELISSA GERR ‍‍April 30, 2015 - יא אייר תשעה
  6. ^ Baltimore Sun: "Lea Frydman" January 1, 2014
  7. ^ New York Daily News: "Boomer Barons New Names Muscle into Rarefied Air of City's Noble Spires" by Peter Grant July 20, 1997
  8. ^ "Jacob Frydman". Bloomberg. Retrieved August 7, 2017. 
  9. ^ Thompson, Charles. "Major new Harrisburg debt proposal on table". The Patriot News. Retrieved May 5, 2011. 
  10. ^ Vecsey, Laura. "Harrisburg parking garage investor said to be scrambling for equity partners". Penn Live. Retrieved August 20, 2011. 
  11. ^ Glynn, Chris. "LambdaStar finished". Infrastructure Investor. Retrieved January 29, 2013. 
  12. ^ Alec, Parower (July 19, 2012). "United Realty Follows Classic Mantra In Expansion". Real Estate Finance Intelligence. Archived from the original on 1 September 2012. Retrieved 4 September 2012. 
  13. ^ Kalinoski, Gail. "First Capital Makes a United Play". CP Executive. 
  14. ^ Croghan, Lore. "New Starrett dusts off drawing board, shifts its focus to local development". Crains News. Retrieved July 7, 2017. 
  15. ^ "Investors to take over Starrett for 80 million". NY Times. Retrieved July 6, 2017. 
  16. ^ "Bardavon brings in new board members". Times Herald Record. Retrieved July 12, 2011. 
  17. ^ "Missouri S&T Scholarship System - United Realty Students Scholarship". mst.academicworks.com. Retrieved 2015-11-18. 
  18. ^ "United Realty Launches Students Scholarship Program". The #CRE Post. Retrieved 2015-11-18. 

External links[edit]