*Brand Partner Content*
Emil went on to apply his financial success to multiple other ventures, including a merchant funding company that closed 2019 with over a billion dollars funded, through its subsidiaries. He is also a partner in a private equity group with various holdings in Europe and the U.S.
Emil is native of New York, and decided that he wanted to get into land development. He focused on various buildings in New York City, as well as rebuilding undervalued homes in Harlem, as well as he waterfront area of Brooklyn.
“I decided to get into land development because there was immense opportunity in certain undervalued areas, rebuilding some of the communities in my home state, as well as capitalizing on such endeavors was too good to pass up.”
Emil’s first deal was in the New York City borough of Brooklyn, where he invested in a 412-unit apartment development. He hopes to rent out the apartments once they are remodeled, attaining a substantial profit, while improving the community that raised him. Emil is also developing a project with a building containing with 481 units. The project has condos for sale that start with studios, and include units with up to 4 bedrooms. The price ranges from 700k- 5 million for the condos.
Brooklyn was not the only location that Emil invested in, he also played a major role in the development of multiple housing units in the Harlem area. The New York Times reported that Harlem’s average home prices have increased by 2.3 percent over the past five years, with buyers being especially partial to two-bedroom homes. CityRealty’s 2019 market report shows that Harlem’s average price per square foot has leaped from $534 to $1,016 in the past ten years. More recently, a look at Manhattan condo prices since January 2020 put Harlem as one of a few neighborhoods that experienced price increases.
Emil recognized the immense opportunity with such glaring statistics, and is developing a 200-unit apartment development, as well as a 500-unit apartment development in the Harlem area. Once big companies like Trader Joe’s, and major hospital developments were set to take place in the area, it was primed to see a spike in value. He is also spearheading the development of a project that will feature a 3,000-square-foot community facility, 3,500 square feet of retail space, and 169 studio through two-bedroom units for low- and moderate-income families
Emil has not only limited his scope of land development to New York, but California as well. Emil is developing a housing, hotel, and retail complex in Los Angeles that will have 1,200 condos, apartments, a hotel, grocery store, restaurants, and an outdoor plaza.
Emil is also focusing on developing high-end residential homes in Beverly Hills, Bel Air, Pacific Palisades, and other surrounding areas. He currently has a project in the famed Beverly Park region of Beverly Hills, where he is developing a residential property with 12,000 square feet, an indoor pool, indoor movie theatre, and tennis court that overlooks the majestic Los Angeles city scape. He plans to list this property for 18.6 million dollars. He is also developing a residential home in Bel Air, next to the fabled Bel Air Hotel. This home is about 13,500 square feet, with 10 bedrooms and 11.5 bathrooms. It will have a mini-golf course, full size outdoor basketball court, and an infinity pool. He plans to list this home for north of 20 million dollars. His favorite residential development is in Pacific Palisades, right on the border of Brentwood. It has a stunning view of the valley, and has 9 bedrooms and 11 bathrooms. The property has an indoor movie theatre, 300 foot balcony with a spectacular view, and a private tennis court which can double as a basketball court. He plans to list this property for about 17.6 million dollars.
“Real estate is a great investment, it is less volatile than the stock market, and it something I would like to do for the foreseeable future. I decided to start with projects in New York since I know the area well, and have numerous connections that can add tremendous value to my projects”.
With Emil’s in-depth knowledge of finance, as well as his unwavering commitment to improving certain areas in New York and Los Angeles, his projects are sure to be prosperous endeavors. The financial wizard is leaving his mark on a multiple of land developments in his home state, as well as the growing area of Los Angeles in California.