Joel Schreiber

Last updated

Joel Schreiber
Born
London, England, United Kingdom
NationalityBritish
American
Occupation(s)Real estate developer
Investor
Known forFounder of Waterbridge Capital

Joel Schreiber is a British-born American real estate developer, investor, and founder of Waterbridge Capital.

Contents

Biography

Schreiber was born to a Hasidic Jewish family in London. [1] [2] [3] He moved to New York City and in 2000 – with the help of his family and private investors – purchased residential real estate in Brooklyn, upstate New York, and New Jersey. [1] In 2004, he sold most of the residential portfolio to concentrate on commercial properties in Manhattan. [1] In 2006, he founded Waterbridge Capital as a vehicle for his investments. [1] [4] Waterbridge generally leaves the development of properties to its partners and focuses on raising capital and finding partners. [1] His first major investment was the $190 million purchase of 536 Broadway in 2007. [1] In 2010, he purchased a 33-percent interest in WeWork (founded by Adam Neumann and Miguel McKelvey) for $15 million after meeting the founders who were inquiring about a potential lease. [5] McKelvey stated that the deal was a pivotal moment for the company. [1] It is uncertain how much of an interest Schreiber presently holds in WeWork. In 2012, he partnered with Ben Bernstein and Ben Stokes of RedSky Capital and purchased a group of properties for $66 million on Bedford Avenue in Williamsburg, Brooklyn; they redeveloped the real estate and subsequently signed Apple to a 20,000-square-foot retail lease. [1] In 2012, Schreiber partnered with Brooklyn real estate investor David Werner and purchased One Court Square for $481 million in Long Island City, Queens from Stephen L. Green's, SL Green and JPMorgan Asset Management. [1] Also in 2012, he partnered with Kenneth S. Horn of Alchemy Properties and WeWork's Neumann and purchased for $68 million the top floors of the Woolworth Building which they converted into condominiums. [1]

Joel Schreiber is one among several prominent Hasidic real estate developers in Brooklyn [2] [3] [6] who have increased the supply of housing in many Brooklyn neighborhoods.

Personal life

Schreiber is married and has children. [1]

Related Research Articles

David Lichtenstein is an American billionaire, entrepreneur, and real estate investor. He is the founder and CEO of The Lightstone Group, which he founded in 1988.

<span class="mw-page-title-main">Robert A. Futterman</span> American real estate investor and author (1928–1961)

Robert Allen Futterman (1928–1961) was an American real estate investor, developer, author, and founder of the Futterman Corporation – a publicly traded New York-based real-estate holding and development company, which he built into a $100 million nationwide enterprise prior to his sudden death in November 1961 at age 33.

SL Green Realty Corp. is a real estate investment trust that primarily invests in office buildings and shopping centers in New York City. As of December 31, 2019, the company owned 43 properties comprising 14,438,964 square feet, and was reported to be "New York City’s largest office landlord".

<span class="mw-page-title-main">WeWork</span> American coworkspace company

WeWork Inc. is a provider of coworking spaces, including physical and virtual shared spaces, headquartered in New York City. As of December 31, 2022, the company operated 43.9 million square feet (4,080,000 m2) of space, including 18.3 million square feet (1,700,000 m2) in the United States and Canada, in 779 locations in 39 countries, and had 547,000 members, with a weighted average commitment term of 19 months.

Rubin "Rubie" Schron is a New York City real estate investor, philanthropist, and the founder of Cammeby's International Group. In 2013, Schron made an unsuccessful offer to buy the Empire State Building for $2 billion. In 2003, an investment group led by Schron paid $705.6 million for a portfolio of about 6,000 outer-borough apartments from Donald Trump. Schron, who practices Orthodox Judaism, has eight children and 50 grandchildren. He and his family reside in Brooklyn.

Joseph Chetrit is an American real estate investor and developer and founder of the Chetrit Group.

Stanley Isaac Chera was an American billionaire businessman and investor. The founder of Crown Acquisitions. Born in Brooklyn to a Syrian Jewish family, Chera started purchasing real estate in New York City in the 1980s, first as a minority partner and later in the 2000s as the lead developer.

Fundrise is a Washington, D.C.-based financial technology company founded in 2010 that operates an online investment platform. Fundrise has been labeled as the first company to successfully crowdfund investment into the real estate market.

Ben Shaoul is a New York City-based real estate owner and developer. He is the president of Magnum Real Estate Group, a residential real estate development and management company headquartered in New York City. Shaoul is best known as a prominent developer in the Manhattan borough of New York City.

Simon Dushinsky is an American real estate developer who co-owns the New York City-based Rabsky Group with his partner, Isaac Rabinowitz.

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

<span class="mw-page-title-main">Adam Neumann</span> Israeli-American businessman (born 1979)

Adam Neumann is an Israeli-American billionaire businessman and investor. In 2010, he co-founded WeWork with Miguel McKelvey, where he was CEO from 2010 to 2019. In 2019, he co-founded a family office dubbed 166 2nd Financial Services with his wife, Rebekah Neumann, to manage their personal wealth, investing over a billion dollars in real estate and venture startups.

<span class="mw-page-title-main">Fifth Wall (firm)</span>

Fifth Wall is a venture capital firm founded in 2016 by Brendan F. Wallace and Brad Greiwe. It manages the largest fund specialized in real estate technology The firm's name refers to a fifth wall of technology it provides in addition to the four physical walls of a building. It is part of an emerging category of "PropTech" investors. Major financial backers include large real estate industry companies that agree to be matched with the products and services of the firm's portfolio of start-up companies. The firm has separate funds for investments in emerging retail brands and climate technology to help real-estate companies reduce carbon emissions from their buildings.

Isaac Hager is an American real estate developer who founded the New York City-based Cornell Realty Management.

Louis Kestenbaum is an American real estate developer who is the founder and chairman of New York City-based Fortis Property Group.

Chris Jiashu Xu is a Chinese real estate developer. He is the founder and president of United Construction & Development Group, through which he developed Skyline Tower, the tallest skyscraper in Queens, New York City, and in all of New York State outside of Manhattan from 2019 until 2021.

David Werner is an American real estate investor and founder of David Werner Real Estate.

<span class="mw-page-title-main">HFZ Capital Group</span>

HFZ Capital Group is a real estate development and investment company based in New York City. Ziel Feldman founded HFZ in 2005 and is chairman. As of 2019, HFZ managed more than $10 billion worth of development.

Flow is an American residential real-estate company based in Miami, Florida. It was founded in 2022 by the former CEO of WeWork Adam Neumann and funded by the venture capital firm Andreessen Horowitz. The company hopes to address some aspects of the United States housing shortage through technology, providing equity for renters, and a new type of social interaction. The startup is initially planning to operate 3,000 apartment units, purchased by Neumann, in Nashville, Tennessee; Atlanta, Georgia; and Miami and Fort Lauderdale in Florida.

References

  1. 1 2 3 4 5 6 7 8 9 10 11 Putzier, Konrad (1 December 2017). "The story of WeWork's mysterious first investor". The Real Deal. Schreiber was born into a Hasidic family in London in the 1970s or early 1980s, according to several people who have worked with him.
  2. 1 2 Maurer, Mike (22 August 2016). "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". The Real Deal.
  3. 1 2 Weinberger, Shimon (24 August 2016). "Chassidic Developers Dominate Brooklyn Real Estate Scene". Jewish Voice.
  4. ↑ "The Team: Joel Schreiber – Chief Executive Officer". Waterbridge Capital. Retrieved 2 August 2019.
  5. ↑ Putzier, Konrad (19 October 2017). "The little trick WeWork's Adam Neumann uses to charm investors". The Real Deal. Manhattan property owner Joel Schreiber bought a 33-percent stake in the company for $15 million in 2010. "I didn't negotiate — I said yes," Mr. Schreiber said. "I loved Adam's energy."
  6. ↑ "LISTEN: TRD talks Hasidic real estate empire on WNYC: Ultra-Orthodox investors poured $2.5B into prime Brooklyn real estate". The Real Deal. 26 August 2016.
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.