David Walentas | The Real Deal New York

The Real Deal New York

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David Walentas

Founder and Principal
Two Trees Management
45 Main Street, #602
Brooklyn, NY 11201
(718)-222-2500
Website

David Walentas is the co-founder, with the late Jeff Byers, of Two Trees Management, a real estate development firm credited with transforming Dumbo from a derelict industrial area into a high-end residential enclave. His son, Jed Walentas, is the chief executive of the firm and has assumed daily operating responsibility.

Walentas began piecing together his Dumbo properties in 1978 with the purchase of the Clock Tower Building for $6 a square foot, or $1.5 million for the 250,000-square-foot structure. At the time, it housed a tape business whose trucks had a hard time navigating Dumbo's narrow, stone-covered streets.

He grew up in Rochester, N.Y., went to the University of Virginia on a Navy ROTC scholarship, and graduated with a degree in mechanical engineering. He also attended business school at Virginia, and graduated in 1964.

-TA


11/22/18
...by buying up multifamily properties. At Two Trees, David Walentas remade Dumbo, transforming it from a world of old warehouses to one of Brooklyn...

08/03/18
...matches in a large barn owned by developer David Walentas. But injuries have sidelined him. And when trying to bring together buyers and sellers...

...matches in a large barn owned by developer David Walentas. But injuries have sidelined him. And when trying to bring together buyers and sellers...

10/18/17
...his $2.8 billion fortune. And finally, Two Trees Management's David Walentas took the final spot of 374 with a net worth of $2.1 billion. -- Christopher Cameron...

09/17/17
...Two Trees Management, run by Jed, left, and David Walentas, is harnessing the reach of residents with a large following on Instagram to promote...

09/13/17
...by buying up multifamily properties. At Two Trees, David Walentas remade Dumbo, transforming it from a world of old warehouses to one of Brooklyn...

...by buying up multifamily properties. At Two Trees, David Walentas remade Dumbo, transforming it from a world of old warehouses to one of Brooklyn...

07/26/17
...York City real estate developers get nostalgic sometimes. David Walentas, the billionaire developer credited with transforming the Dumbo area of Brooklyn, is stepping in...

...your full name? My real name is J. David Walentas. It’s a real hassle traveling post 9/11 because I’ve always been Jed, but...

10/04/16
...Zuckerman, $2.7B, #246 23. Joshua Harris, $2.5B, #274 24. Marc Rowan, $2.5B, #274 25. David Walentas, $2B, #353 — Kathryn Brenzel...

07/21/16
...marketed by Brown Harris Stevens. Two Trees Management's David Walentas, who developed the property, dropped by to reveal it. Some of the city’s...

05/02/16
...Ziel Feldman as well as relatives of developers David Walentas, Gary Barnett, Bill Rudin, Richard LeFrak and Larry Silverstein. Stringer did not respond to...

04/28/16
...de Blasio’s Campaign for One New York. “(David Walentas) was quoted as saying that de Blasio is a disaster for the city, he...

04/12/16
...Sheldon Solow, John Catsimatidis, Jeff Sutton, Mortimer Zuckerman, David Walentas, Alexander Rovt and Leon Charney (who died last month). While their commercial holdings are...

...Sheldon Solow, John Catsimatidis, Jeff Sutton, Mortimer Zuckerman, David Walentas, Alexander Rovt and Leon Charney (who died last month). While their commercial holdings are...

...redevelop the former Domino Sugar factory, company CEO David Walentas was quoted in New York magazine as saying, “I think de Blasio’s a...

12/04/15
...the land from the city for $16.5 million in 2003, David Walentas signed papers with the city’s Housing Development Corporation agreeing that “all units in...


04/18/15
...Billionaire Jay Paul, Dumbo and Two Trees Management's David Walentas The Forbes Billionaires List added two U.S.-based real estate billionaires in 2015. So...

09/30/14
...Schwartzman, Stephen Ross, Richard LeFrak, Donald Trump and David Walentas Forbes is out with its annual list of the 400 richest people in America, and...

08/26/14
...From left: Congressman Charlie Rangel, Donna Olshan and David Walentas From the August issue: In this month's in their words feature, Congressman Charlie Rangel...

08/19/14
From the August issue: All the talk about a second wave of condo development in Brooklyn is finally coming to fruition. Tags: brooklyn market...

...Asking price: $18 million The penthouse unit at developer David Walentas’ Clock Tower building at 1 Main Street in Dumbo has lingered on the market for...

All the talk about a second wave of condo development in Brooklyn is finally coming to fruition. On the heels of a rental boom, the...

...of Bridgehampton’s Two Trees Farm, Dumbo-based developer David Walentas, first put his famed 115-acre property on the market in 2010 for $95 million. He quickly...
Two Trees Management, Principal
45 Main Street, Suite 602, New York, NY, 718.222.2500
Jed Walentas has, since joining it in 1997, gradually come to run the...
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood DUMBO
  • Borough Brooklyn
  • Square feet 4,315
notes
The art and design institute took space for its graduate students in the digital arts department to create interactive media and digital imaging.
  • Event Office Leasing
  • Address 20 Jay Street
  • Neighborhood DUMBO
  • Borough Brooklyn
  • Square feet 15,533
notes
The foundation signed a lease to provide free art studios to various artists.
  • Event Sales
  • Address 11th Avenue btw. 53rd and 54th Streets
  • Borough Manhattan
  • Price $ 130,000,000
notes
The Dumbo developer is in contract to buy most of the block for approximately $130 million. Walentas is seeking to have the land rezoned from industrial to residential in order to develop more than 1,000 apartments on the site. This would be his first Manhattan project in more than 25 years.
  • Event Office Leasing
  • Address 55 Washington Street
  • Neighborhood Fulton Ferry
  • Borough Brooklyn
  • Square feet 39,553
notes
The educational software and services firm signed a 10-year lease for space on the ninth floor. The firm, which has 150 New York-based employees, relocated from Midtown to take advantage of the New York City Department of Finance Relocation and Employment Assistance Plan tax incentive plan, which offers large tax credits to tenants relocating all or part of their businesses from south of 96th Street in Manhattan to eligible buildings in the outer boroughs and north of 96th Street. The incentives resulted in a net effective rent reduction of $11 per square foot.