Ian Bruce Eichner

Last updated
Ian Bruce Eichner
Born1946 (age 74–75)
New York City, New York
NationalityAmerican
EducationB.A. University at Buffalo
J.D. University of Cincinnati College of Law
OccupationReal Estate Developer
Known forfounder of The Continuum Company, LLC
Spouse(s)Leslie Ann Hollander
ChildrenAlexandra Eichner
Lindsay Eichner

Ian Bruce Eichner (born June 25, 1945) [1] is an American real estate developer and founder of The Continuum Company, LLC.

Contents

Biography

Eichner was born to a Jewish family in New York City. [2] His father went to fight in World War II and abandoned the family thereafter. [2] His stepfather, Herman Eichner, was an Austrian immigrant and professor. [2] He went to Stuyvesant High School and worked for Republic Steel while in high school and Sears Roebuck while in college. [2] In 1962, he attended the University of New Mexico for a year and the graduated from the University at Buffalo [2] with a B.A. in history [1] and then with a J.D. from the University of Cincinnati College of Law in 1969. [3] He then took a job with the office of district attorney Frank Hogan and then as an assistant district attorney in Brooklyn with Eugene Gold. [2] In 1969, he purchased a building in Park Slope, Brooklyn. [2] Using the proceeds from the sale of his first building, he started buying apartment buildings in Park Slope and converting them into cooperatives. [2] From 1971 to 1975, he worked for the New York State Division of Criminal Justice services. [2] He purchased the Franklin Arms in Brooklyn Heights which he profited $1 million and lost it all after purchasing the Margaret Hotel in Brooklyn Heights which burned to the ground after a construction accident. He ultimately built a new building on the site and made his money back. [2] A mentor of his, Ron Altman, introduced him to Victor Smorgon of Melbourne, Australia who invested $4 million to build a high rise. [2] He had several novel ideas in the buildings he built thereafter: he built buildings with the smallest units on the lower floors and the larger units on the taller floors; and he built the lobbies first (as people want to see the lobby before they move in); and he would build model apartments on the higher floors (with their spectacular views). [2] Smorgon's investment was profitable and Eichner went on to build Cityspire, 1540 Broadway, 180 Montague in Brooklyn Heights (later sold to Charles E. Smith's Archstone), and the Continuum on South Beach in Miami Beach. [2] The 1990s were difficult and Eichner lost Cityspire to the Bank of Nova Scotia, 1540 Broadway to a bankruptcy and ultimately to Bertelsmann A.G. as its headquarters, [3] [4] and the Cosmopolitan of Las Vegas, a $4 billion project, to Deutsche Bank after he was unable to refinance a loan (it was ultimately completed and sold it to the Blackstone Group. [1] [5]

He developed 45 East 22nd Street, [5] a 777 feet tall, 64 story tower in the Flatiron District of Manhattan. [6] Eichner also developed a 32 story tower in Harlem, which will be the neighborhood's tallest building, [7] [8] and is proposing to construct four high-rise apartment complexes in Crown Heights, Brooklyn. [9] The latter development has notably gained criticism from Brooklyn Botanic Garden President Scot Medbury for the impacts that the high rises could have on the direct sun light of the gardens. [10]

Manhattan Club settlement

In 2017, New York District Attorney announced a settlement with Eichner over his misleading claims and false promises related to the Manhattan Club timeshare. Eichner and his associates offered a "boutique hotel" but many customers were never able to book rooms, faced rapidly rising maintenance costs, and were foreclosed if they were unable to pay, leading others to sell their shares for $1. Eichner and associates were required to pay $6.5 million as part of the settlement and were barred from the timeshare industry. [11]

Personal life

He is married to Leslie Ann (née Hollander) Eichner [3] and has two daughters, Alexandra and Lindsay. [2] He has homes in East Hampton, New York, Las Vegas, and South Beach. [1]

Related Research Articles

Manhattan Borough in New York City and county in New York, US

Manhattan, known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. It is the urban core of the New York metropolitan area, and coextensive with New York County, one of the original counties of the U.S. state of New York. Manhattan serves as the city's economic and administrative center, cultural identifier, and historical birthplace. The borough consists mostly of Manhattan Island, bounded by the Hudson, East, and Harlem rivers; as well as several small adjacent islands. Manhattan additionally contains Marble Hill, a small neighborhood now on the U.S. mainland, separated from the rest of Manhattan by the Harlem Ship Canal and later connected using landfill to The Bronx. Manhattan Island is divided into three informally bounded components, each cutting across the borough's long axis: Lower, Midtown, and Upper Manhattan.

40 Wall Street Office skyscraper in Manhattan, New York

40 Wall Street, also known as the Trump Building, is a 927-foot-tall (283 m) neo-Gothic skyscraper on Wall Street between Nassau and William streets in the Financial District of Manhattan in New York City. Erected in 1929–1930 as the headquarters of the Manhattan Company, the building was originally known as the Bank of Manhattan Trust Building, and also as the Manhattan Company Building, until its founding tenant merged to form the Chase Manhattan Bank. It was designed by H. Craig Severance with Yasuo Matsui and Shreve & Lamb.

Brooklyn Heights Neighborhood of Brooklyn in New York City

Brooklyn Heights is a residential neighborhood within the New York City borough of Brooklyn. The neighborhood is bounded by Old Fulton Street near the Brooklyn Bridge on the north, Cadman Plaza West on the east, Atlantic Avenue on the south, and the Brooklyn–Queens Expressway or the East River on the west. Adjacent neighborhoods are Dumbo to the north, Downtown Brooklyn to the east, and Cobble Hill and Boerum Hill to the south.

CitySpire is a mixed-use skyscraper at 150 West 56th Street in the Midtown Manhattan neighborhood of New York City. Completed in 1989 and designed by Murphy/Jahn Architects, the building measures 814 feet (248 m) tall with 75 stories. CitySpire was developed by Ian Bruce Eichner on a site adjacent to the New York City Center theater. When completed, CitySpire was the second tallest concrete tower in the United States after the Sears Tower in Chicago.

Downtown Brooklyn Place in New York, United States

Downtown Brooklyn is the third largest central business district in New York City, United States, and is located in the northwestern section of the borough of Brooklyn. The neighborhood is known for its office and residential buildings, such as the Williamsburgh Savings Bank Tower and the MetroTech Center office complex.

Pacific Park, Brooklyn Development in Brooklyn, New York

Pacific Park is a mixed-use commercial and residential development project by Forest City Ratner that will consist of 17 high-rise buildings, under construction in Prospect Heights, adjacent to Downtown Brooklyn, Park Slope, and Fort Greene in Brooklyn, New York City. The project overlaps part of the Atlantic Terminal Urban Renewal Area, but also extends toward the adjacent brownstone neighborhood. Of the 22-acre (8.9 ha) project, 8.4 acres (3.4 ha) is located over a Long Island Rail Road train yard. A major component of the project is the Barclays Center sports arena, which opened on September 21, 2012. Formerly named Atlantic Yards, the project was renamed by the developer in August 2014 as part of a rebranding.

Architecture of New York City Overview of the architecture in New York City

The building form most closely associated with New York City is the skyscraper, which has shifted many commercial and residential districts from low-rise to high-rise. Surrounded mostly by water, the city has amassed one of the largest and most varied collection of skyscrapers in the world.

Washington Square Village Residential skyscrapers in Manhattan, New York

Washington Square Village (WSV) is an apartment complex in a superblock in the Greenwich Village neighborhood of Manhattan, New York City. WSV was developed by Paul Tishman and Morton S. Wolf. To design the housing complex, the developer selected architects S. J. Kessler and Sons, with Paul Lester Weiner as consultant for site planning and design; landscape architects were Sasaki, Walker & Associates.

Park Central Hotel Hotel in Manhattan, New York

The Park Central Hotel is a 25-story, 935-room hotel located across the street from Carnegie Hall at 870 7th Avenue in Midtown Manhattan, New York City. It was designed in the Renaissance Revival style and opened on June 12, 1927. The Park Central is an independent hotel managed by Highgate Holdings.

270 Park Avenue Office skyscraper in Manhattan, New York

270 Park Avenue has been the name or address of several structures on the west side of Park Avenue, between 47th Street and 48th Street, in the Midtown Manhattan neighborhood of New York City.

Charles V. Paterno

Charles Vincent Paterno was an Italian-born American real estate developer. He was called the "Napoleon of the Manhattan Skyscraper Builders".

David Bistricer is a New York-based real estate developer and the founder and principal of Clipper Equity. His firm focuses on the conversion of non-residential buildings to residential uses. One of Bistricer's latest ventures, in partnership with Chetrit Group, is the transformation of the shuttered four-building Cabrini Medical Center at 220 and 230 East 20th Street and 215 and 225 East 19th Street into a residential a condo project, Gramercy Square, with 223 units. The Woods Bagot-designed development features a different style for each property: a modern, a prewar, a boutique and a tower building. It also has about 38,000 square feet of amenities including a 75' sky-lit pool, a gym, a theater, a meditation room exclusively programmed by MNDFL and a wine cellar. And there's ample green space with a courtyard, a greenhouse and landscaping around the buildings.

Madison Square Park Tower New York City skyscraper

Madison Square Park Tower, previously 45 East 22nd Street, is a skyscraper completed in 2017 and located between Broadway and Park Avenue South in the Flatiron District neighborhood of Manhattan, New York City. The building was designed by Kohn Pedersen Fox and developed by Ian Bruce Eichner's Continuum Company. It is the tallest building between Midtown and the Financial District of Lower Manhattan. It was the second skyscraper to be built on that block, after One Madison.

Bruce A. Menin is an American businessman. He is a managing principal of Crescent Heights, a real estate development company specializing in the development, ownership, and operation of residential and mixed-use real estate projects in the United States. Crescent Heights is based in Miami Beach, Florida, with regional offices in New York, Chicago, San Francisco and Los Angeles.

Michael Stern is an American real estate developer.

Joel Saul Wiener is an American real estate developer and landlord, and the CEO of Pinnacle Group.

References

  1. 1 2 3 4 The RealDeal: "Bruce Eichner" by Lauren Elkies retrieved May 26, 2015
  2. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 CUNY TV: "Ian Bruce Eichner Founder & Chairman, Continuum Company" October 29, 2013
  3. 1 2 3 New York Times: "Commercial Property/The Ian Bruce Eichner Phenomenon; A Deal-Maker's Comeback" By CLAUDIA H. DEUTSCH May 15, 1994
  4. ↑ Wall Street Journal: "Property Mogul Poised to Take a Second Fall - Eichner in Talks to Surrender Casino to Deutsche Bank; 'Zero Will Stick to My Shoes'" By Jennifer S. Forsyth May 9, 2008
  5. 1 2 Wall Street Journal: "Eichner Lands $420 Million to Build NYC Condo For Super-Rich" by Elliot Brown October 6, 2014
  6. ↑ New York Yimby: "Construction Update: 45 East 22nd Street Begins Its 777-Foot Climb" By Nikolai Fedak May 27, 2015
  7. ↑ New York Daily News: "East Harlem Community Board signs off on towers that would be tallest" by Michael J. Feeney February 18, 2014
  8. ↑ Crain's New York: "Bruce Eichner is back. Why that might be a concern - Never mind his property busts in the early 1990s and 2008. This time is different, he says" by Daniel Geiger February 22, 2015
  9. ↑ DNA Info: "Four High-Rise Towers Planned for Crown Heights Spice Factory Site" By Rachel Holliday Smith Archived 2018-05-30 at the Wayback Machine November 1, 2017
  10. ↑ The Indypendent: "Highrises Could Cast Shadow Over Brooklyn Botanic Garden, Warns Garden President" by Indypendent Staff May 24, 2018
  11. ↑ "A.G. Schneiderman Announces $6.5 Million Settlement With Midtown Manhattan Timeshare That Scammed Purchasers". 16 August 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.