David Bistricer | The Real Deal New York

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David Bistricer

CEO
Clipper Equity
4611 12th Avenue
Brooklyn, NY 11219
(718) 438-2804
Website

David Bistricer is the founder and principal of Clipper Equity and a residential landlord with thousands of units throughout the city. He was born in Belgium in 1949 to an Orthodox Jewish family of Holocaust survivors. Two years later, the Bistricers arrived in America, where they eventually founded Clipper Equity. The family firm focused on converting rental buildings into cooperatives, but the projects did not always go smoothly. From 1998 to 2009, New York State banned Clipper Equity from selling co-ops and condominiums after it failed to disclose information to buyers of the units. In 2006, the firm bought Vanderveer Estates in East Flatbush for $138.2 million, despite the presence of over 10,000 housing violation codes. The complex, renamed Flatbush Gardens, landed Bistricer on then-Public Advocate Bill de Blasio'’s list of “worst landlords in 2010”. Recently, Bistricer has tended to acquire real estate in partnership with other firms. In 2013, he and Joseph Chetrit purchased the Sony Tower for $1.1 billion, hoping to turn the building into condominiums, before selling it to Olayan America for $1.4 billion in 2016.

Clipper and the Chetrit Group, which is also a family-run developer and landlord, have also acquired the Flatotel and other buildings and plan to convert them to more lucrative uses. Bistricer and his wife, Esther, have five children. They live in Borough Park, Brooklyn. David’s son Jacob, who goes by J.J., has worked for the family firm for the past decade and is now chief operating officer, according to LinkedIn.


08/01/18
...which was completed in 1984. The Chetrit Group and David Bistricer’s Clipper Equity purchased the property, then known as the Sony Building, from Sony...

06/01/18
...David Bistricer and 10 West 65th Street Clipper Realty is leasing back 40 dormitory units to Touro College...

04/11/18
...From left: Rendering of Gramercy Square, David Bistricer, Marc Holliday and Joseph Chetrit (Credit: Avoid Obvious) The developers of the Gramercy Square...

04/09/18
...Chetrit. In 2013, the investor and his frequent partner David Bistricer bought the Sony Building for $1.1 billion, drew up plans for an opulent residential conversion...

04/05/18
...in 2016 for $1.4 billion from the Chetrit Group and David Bistricer’s Clipper Equity, which had planned a $1.9 billion condominium conversion of the property known...

03/19/18
...and provides added liquidity. Clipper Realty, led by David Bistricer, purchased the 59-building residential complex in 2005 for $138.2 million through Renaissance Equity Holdings. 2) Hotel fit...

03/05/18
...The Bossert Hotel David Bistricer and Joseph Chetrit The long-awaited reopening of the Bossert Hotel in Brooklyn Heights has...

02/22/18
...David Bistricer and Flatbush Gardens UPDATED, 3:25 p.m., Feb. 22: Clipper Realty has received a 10-year, $246 million...

01/19/18
...David Bistricer and 50 Murray Street (Credit: CityRealty) David Bistricer’s Clipper Equity won an appeal against tenants at 50 Murray Street who claimed that...

11/27/17
...other politicians raised concerns that a sale to David Bistricer for $1.3 billion would lead to rent spikes, which led federal regulators to block the...

10/30/17
...West 65th Street and David Bistricer David Bistricer...

10/16/17
...of 5 Times Square in 2014, and Clipper Equity founder David Bistricer, who purchased the Sony Tower with Joseph Chetrit for $1.1 billion in 2013 before selling it...

...of 5 Times Square in 2014, and Clipper Equity founder David Bistricer, who purchased the Sony Tower with Joseph Chetrit for $1.1 billion in 2013 before selling it...

09/26/17
...From left: Doug Harmon, Andrew MacArthur, President Trump, David Bistricer and Starrett City (Credit: Starrett City and Getty Images) Just 10 years ago, the largest...

09/13/17
...Brooklyn-based family firm with more access to capital, David Bistricer told TRD when he first announced that the company was going public in 2015. When...

09/11/17
...know how that went. The following year, when David Bistricer’s Clipper Equity made a play for Starrett City, a Brooklyn housing complex with...

...Brooklyn-based family firm with more access to capital, David Bistricer told TRD when he first announced that the company was going public in 2015. When...

08/31/17
...their building at 74 Adams Street for $60 million, and David Bistricer...

08/17/17
...Capital Group’s Ralph Herzka, Clipper Equity’s David Bistricer, Steve Witkoff, Silverstein Properties’ Larry Silverstein, RFR Realty’s Aby Rosen, Ackman Ziff’s...

07/20/17
...been a 161-unit building at 107 Columbia Heights, which David Bistricer...

07/05/17
...David Bistricer and 50 Murray Street (Credit: CityRealty) Over 40 tenants at a downtown luxury building won a...

06/30/17
...Battery Place and David Bistricer David Bistricer...

06/01/17
...From left: David Bistricer, Marc Holliday and Steve Roth The annual REIT Week conference, one of the largest...

05/24/17
...West 65th Street and David Bistricer David Bistricer...

05/16/17
...On the morning of Feb. 10, landlord and investor David Bistricer rang the opening bell of the New York Stock Exchange, where, surrounded by family...
Clipper Equity
Jacob-Bistricer, Brooklyn, NY, (718) 438-2804
Jacob “JJ” Bistricer is the son of Clipper Equity-founder David Bistricer. JJ joined...
  • Event Sales
  • Address 98 Montague Street
  • Neighborhood Brooklyn Heights
  • Borough Brooklyn
  • Price $ 81,000,000
  • Event Sales
  • Address 7 Metrotech Center
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Price $ 74,000,000

02/24/17
...In April, for example, the Chetrit Group and David Bistricer sold the Sony Building to Saudi investor Olayan Group for $1.4 billion. The partners had...

07/21/15
...estimated sellout of over $2.1 billion. Joseph Chetrit and David Bistricer’s conversion of the former Cabrini Medical Center in Gramercy Park was the third-largest...