Yoel Goldman

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Yoel Goldman
Born1980 (age 39–40)
NationalityUnited States
OccupationReal estate developer
Known forFounder of All Year Management
Net worth$900,000,000
Websitehttp://www.allyearmgt.com/

Yoel Goldman (born 1980) is an American real estate developer who founded the Brooklyn, New York-based development company, All Year Management.

Biography[edit]

Goldman was born to a Hasidic Jewish family into the Satmar dynasty[1] He was raised in Borough Park and began his career in the 2000s by purchasing small, multifamily properties and later, large multifamily buildings and development of new buildings.[2] After intensive lobbying by the Hasidic community to rezone Williamsburg and Greenpoint - where they historically had large holdings - the neighborhoods experienced rapid gentrification.[1] Goldman was one of the first developers to focus on rentals rather than condominiums in Williamsburg.[3] After the 2008 recession, he purchased numerous buildings in Brooklyn at sharply deflated prices[1] and when the economy turned, reaped the benefits from the economic recovery.

In 2012, along with his partners Toby Moskovits, he purchased the Williamsburg Generator site for $31.8 million.[1] His relationship with Moskovits ended in 2015 after she accused him and their other partner, Joel Gluck, of issuing a bond in Israel using her interest in the partnership as collateral without her consent.[2] They settled and divided their jointly owned properties.[4] In the spring of 2014, he was criticized for purchasing 14 Crown Heights apartment buildings and then drastically increasing the rents; he later reduced the increases.[5][6] In April 2016, he purchased a portion of the Rheingold Brewery site in Bushwick for $72.2 million[1] from Joseph Tabak’s Princeton Holdings and Robert Wolf’s Read Property Group; in April 2016, he purchased the remainder for $72 million.[7] As of August 2016, Goldman owns a portfolio of 140 rental buildings valued at $850 million (based on a bond offering on the Tel Aviv Stock Exchange which included most of his holdings).[1][8]

Along with fellow Hasidic developers Joseph Brunner, Isaac Hager, Simon Dushinsky, and Joel Schreiber, he is one of the most prominent developers in Brooklyn[9][10][11] credited with helping to gentrify Williamsburg, Bushwick, Greenpoint, Borough Park, and Bedford-Stuyvesant.[1]

Developments[edit]

  • ODA's 608 Franklin Avenue, Williamsburg, Brooklyn - an eight-story, 106-unit residential project. 125,350 square feet apartment building designed by ODA Architecture[12]
  • 123 Melrose Street [13]
  • Condor Hotel (with Zelig Weiss), Williamsburg[14]
  • 1548 Bedford Ave, 100 room hotel, Crown Heights[15][16]
  • Bushwick II, 800-900 units, Williamsburg[17][18]
  • 71 White Street, 112 room hotel, Bushwick[7]
  • 96 Wythe Avenue, 160-room hotel, Williamsburg[19]
  • 608 Franklin Avenue, 120 unit, 8 story apartment building, Crown Heights[19]

References[edit]

  1. ^ a b c d e f g The Real Deal: "Learning and earning: Hasidic Brooklyn’s real estate machers - Investors from ultra-Orthodox sect have spent $2.5B+ in 5 areas over past decade" by Mark Maurer August 22, 2016
  2. ^ a b The Real Deal: "Yoel Goldman biography" retrieved September 2, 2016
  3. ^ The Real Deal: "The quiet investors remaking Brooklyn - A guide to the mid-size players taking the borough by storm" By Mark Maurer December 01, 2015
  4. ^ The Real Deal: "Toby Moskovits to settle lawsuits with ex-partners - Goldman, Gluck buying Heritage Equity chief out of projects -- and vice versa" by Mark Maurer October 09, 2015
  5. ^ Crain's New York: "Residents beat eviction, but worry about the consequences - Developers who pay too much for affordable housing raise" concerns" By Joe Anuta October 5, 2015
  6. ^ The Real Deal: "Tenants who beat massive rent spikes now fear owner neglect - Critics say Yoel Goldman could let affordable housing properties fall into disrepair" October 05, 2015
  7. ^ a b Jewish Business News: "All Year Management Fills Need For Crown Heights Hospitality With 100-Key Hotel Plans" by Benjamin Mazzara July 05, 2016
  8. ^ The Real Deal: "Yoel Goldman’s All Year set to raise $66M in Israeli bonds - Brooklyn investor's second offering to fund projects such as Rheingold Brewery development" By Rey Mashayekhi February 26, 2016
  9. ^ The Real Deal: "LISTEN: TRD talks Hasidic real estate empire on WNYC: Ultra-Orthodox investors poured $2.5B into prime Brooklyn real estate" August 26, 2016
  10. ^ The Real Deal: "Learning and earning: Hasidic Brooklyn’s real estate machers: Investors from ultra-Orthodox sect have spent $2.5B+ in 5 areas over past decade: TRD analysis" By Mark Maurer August 22, 2016
  11. ^ Jewish Voice New York: "Chassidic Developers Dominate Brooklyn Real Estate Scene" by Shimon Weinberger August 24, 2016
  12. ^ New York Yimby: "608 Franklin Avenue"
  13. ^ New Yorker Magazine: "Can We Get Development in Bushwick Right?" By Justin Davidson August 9, 2016
  14. ^ Bedford and Bowery: "Closer Look at Level Hotel, a Gentle Giant Due to Hit Williamsburg By Year’s End" By Jaime Cone March 9, 2015
  15. ^ Business Now: "All Year Management Fills Need For Crown Heights Hospitality With 100-Key Hotel Plans" by Benjamin Mazzara July 05, 2016
  16. ^ The Real Deal: "Yoel Goldman plans 100-key Crown Heights hotel - Five-story building on Bedford Avenue slated to hold restaurants, banquet hall" By Will Parker July 01, 2016
  17. ^ Jewish Business News: "Yoel Goldman Planning Colossal Rental Building at Rheingold Brewery Site - 1 million-square-foot, ODA-designed Bushwick II to contain 800-900 units" June 16, 2016
  18. ^ Gothamist: "Sprawling 900 Unit Luxury 'European Village' Coming to Bushwick" by Gaby Del Valle June 17, 2016
  19. ^ a b Brooklyn Reader: "Real Talk: New Luxury High Rise Going up on Franklin Ave" October 23, 2014