WATCH: The founders of Slate dish on their favorite deals, the new 421a … & more
Martin Nussbaum, David Schwartz sit down with TRD's Hiten Samtani
Unlike the Gary Barnetts and Harry Macklowes of the world, Slate Property Group principals Martin Nussbaum and David Schwartz aren’t interested in developing the next jewel that crowns New York City’s skyline.
“I prefer to be the guy who builds the next LeFrak City, than the next One57 or one of those buildings,” Schwartz said in an exclusive interview with The Real Deal managing web editor Hiten Samtani.
The two principals have instead focused their business on acquiring and developing residential rentals and “quote-unquote affordable” condos in Brooklyn. Since Nussbaum and Schwartz founded the firm in 2013, they’ve acquired nearly $1.5 billion in properties.
Watch the above video to see the two Slate partners discuss how they navigate rent-stabilized units in their portfolio, why they’re not hot on the South Bronx and which deals they consider their favorites.
For more videos, visit The Real Deal’s YouTube page.