Hasidic Heavyweights Taking Over New York Get Unmasked

Brooklyn Hasidic Heavyweights Get Unmasked As They Trek To  The Hudson Valley

hasidic heavyweightsThe Hasidic heavyweights in Brooklyn run a clandestine real estate empire. They are also active and powerful players in New York politics.
They have spent nearly $ 4 billion on acquisitions in Brooklyn and in New York’s Orange County in the past decade.
These Hasidic heavyweights mask their identities through a network of frontmen and a labyrinth of LLCs.
Yet, this hasn’t stopped them from transforming slum neighborhoods to yuppie central where sales and rental properties have skyrocketed.
Pinnacle Realty’s David Junik told the Real Deal:
The Hasidic community helped create the frenzy [in Brooklyn] we have today. They let the market explode after that.
The Real Deal’s Mark Maurer reviewed every building purchase in Brooklyn’s fastest-growing neighborhoods. He looked at Williamsburg, Greenpoint, Bushwick, Bedford-Stuyvesant and Borough Park from January 2006 and mid-June 2016.

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