Louis Dubin leaves Athena Group, company he founded

The founder and former president and CEO of the Athena Group, Louis Dubin, left the privately held real estate investment, operating and development company late last year, and has been replaced by one of Athena’s principal outside advisors.

Attorney Dan Rabinowitz is Athena’s new president and CEO. According to his Athena biography, prior to his selection, Rabinowitz “maintained an office in New York engaged in the advisory practice of law.” Athena did not return numerous phone calls requesting comment on the change in executives.

A source at Athena, who asked not to be identified, said that Dubin left “to form his own company.” Details about Dubin’s stake in the company and the terms of his departure were not immediately available.

In 1993, Dubin founded the Athena Group, a residential real estate investment and development fund with about 4,500 residential units, primarily in new and converted multifamily projects from New York to Los Angeles. The company, which has about 40 employees, develops a handful of new projects per year.

Athena has completed or developed roughly $2.5 billion in assets. Recent New York development projects include 111 Central Park North. Athena has also developed 110 First Street, 111 First Street and A Condominiums in Jersey City.

Prior to forming Athena, Dubin was creator and director of the $1.7 billion National Land Fund for the Resolution Trust Corporation.

Rabinowitz was a partner at McCarter & English from 1982 to 1989, and Shearman & Sterling from 1989 to 1995. From 1999 to the present, he has served as director of the Lehman Brothers Bank, FSB. He serves on the finance and audit committees of the board, and chairs its nominating and corporate governance committees.