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David Bistricer
The Real Deal LogoNew York

David Bistricer

Chief Executive Officer

Bistricer, one of Brooklyn’s biggest developers, is making his mark on Manhattan.

The Clipper Equity CEO this year struck a deal to buy the Dursts’ Harlem development site for $50 million, making him the latest developer to take a shot at building the site.

Vornado owned the property at 1800 Park Avenue before selling it in 2013 to Bruce Eichner’s Continuum Companies, which had plans for a 700-unit residential rental project. When he fell behind on his debt, the Dursts took the property over, but plans stalled when the 421a tax abatement expired.

Now it’s Bistricer’s turn to give it a shot.

Not that he’s new to big deals. In 2013, Bistricer teamed up with Joe Chetrit to buy the Sony Building at 550 Madison Avenue for $1.1 billion with plans to convert the tower into luxury condos. They instead sold the building three years later for $1.4 billion.

Across the river in Brooklyn, Clipper last year finished up construction at its 766-unit project in Greenpoint known as Tower 77. The developer last May landed a $430 million loan from J.P. Morgan Chase to refinance the property. And Bistricer’s publicly traded REIT — Clipper Realty — recently completed a 240-unit project in Crown Heights at 953 Dean Street.

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