Hasidic Heavyweights Taking Over New York Get Unmasked
Brooklyn Hasidic Heavyweights Get Unmasked As They Trek To The Hudson Valley The 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 ...