David Lichtenstein Bio, Wiki, Age, Height, Wife, Family, Lightstone Group and Net Worth

David Lichtenstein Biography

David Lichtenstein is an American billionaire entrepreneur and real estate mogul who was born and brought up in Brooklyn, NY, United States of America. Currently, he is the CEO of The Lightstone Group. He founded The Lightstone Group in 1988 purchased Prime Retail for $638 Million in 2003 and sold it for $2.1 Billion in 2010.

David ventured into New York’s real estate business and is involved in the redevelopment of Brooklyn and the Gowanus Canal area of the borough. In 2015, he got appointed to the NYC Economic Development Corporation’s board of directors by Governor Bill de Blasio and is a member of the board of governors of the Real Estate Board of New York.

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10 Quick Facts About David Lichtenstein

1. Name: David Lichtenstein
2. Age: 62 years
3. Birthday: Not Available
4. Zodiac Sign: Not Available
5. Height: Average
6. Nationality: American
7. Occupation: Entrepreneur and Real Estate Mogul
8. Marital Status: Married
9. Salary: Under Review
10. Net worth: $1.7 Billion

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David Lichtenstein Age

David is 62 years old as of 2021, he was born in 1960 in Brooklyn, NY, United States. We will update this section once this information is available.

David Lichtenstein Height

Lichtenstein stands at an average height. He appears to be quite tall in stature if his photos, relative to his surroundings, are anything to go by. However, details regarding his actual height and other body measurements are currently not publicly available. We will update this section when the information is available.

David Lichtenstein Family

David was born to both parents in a large-sized family in Sheepshead Bay, NY. Both his father and mother were teachers and has seven siblings. There is little information about David’s family, however, as soon as additional information about his father, mother, brothers, and sisters is available we shall update her family members immediately.

David Lichtenstein Wife

David is quite a private individual and prefers to keep his matrimonial details the same way. However, Lichtenstein previously revealed that he is married and that his wife motivated him to get into the real estate business while she was 19 years of age.

Real estate mogul David and his anonymous wife had their first child when the couple was 23 years and 19. Details about the couple’s wedding, kids, and marriage life are currently not available. Nevertheless, David’s wife works as a life and relationship coach at New York University.

David Lichtenstein Net Worth

David Lichtenstein has an estimated Net Worth of $1.7 Billion as of 2022. This includes his Assets, Money, and Income. His primary source of income is his career as a business person. Through his various sources of income, Lichtenstein has been able to accumulate a good fortune but prefers to lead a modest lifestyle.

David Lichtenstein Measurements and Facts

Here are some interesting facts and body measurements you should know about David.

David Lichtenstein Wiki

• Full Names: David Lichtenstein
• Gender: Male
• Occupation / Profession: Entrepreneur and real estate mogul
• Nationality: American
• Race / Ethnicity: White
• Religion: Jew
• Sexual Orientation: Straight

David Lichtenstein Birthday

• Age / How Old?: Not known
• Zodiac Sign: Not known
• Date of Birth: 1960
• Place of Birth: Brooklyn, NY, United States
• Birthday: Not known

David Lichtenstein Body Measurements

• Body Measurements: Not Available
• Height / How Tall?: Not Known
• Weight: Not Known
• Eye Color: Not Available
• Hair Color: Brown
• Shoe Size: Not Available

David Lichtenstein Family and Relationship

• Father (Dad): Not Known
• Mother: Not Known
• Siblings (Brothers and Sisters): 6 siblings
• Marital Status: Married
• Wife/Spouse: Married to Anonymous
• Dating / Girlfriend: Not Applicable
• Children: Sons (Not known) Daughter(s) (Not known)

David Lichtenstein Net Worth and Salary

• Net Worth: $1.7 Billion
• Salary: Under Review
• Source of Income: Real estate

David Lichtenstein Lightstone Group

In the year 1988, David started The Lightstone Group in Lakewood, New Jersey, after running a successful small real estate business in the early 80s. The company grew so fast as by the 1990s, its portfolio boasted of over 20,000 apartments in 28 states. Lichtenstein controls all The Lightstone Group which is valued at $1.4 Billion.

The United States had a housing price boom that began in 1997 and lasted for nearly a decade. It was favorable for investors like Lichtenstein who had a good portfolio but it was also difficult for him to buy properties at affordable prices. For this reason, he sought to purchase properties outside the United States. He began investing in retail business in 2000 and advanced to malls later.

Lichtenstein made his first big purchase in retail in 2002 with the buying of a Prime Retail-run mall in Puerto Rico for $36.5 million. The property needed redevelopment and he took it up. Later on, in 2003, Lichtenstein made a huge deal in real estate when he bought the whole of Prime Retail portfolio for $638 million through his company Lightstone Group.

The portfolio was made of 37 properties in several states making Lightstone the second-largest owner of outlet malls in the country. The company became so successful that it currently has an estimated Net Worth of $1.4 Billion. Lichtenstein’s Lightstone Group currently owns 11,000 apartments, 3,200 hotel rooms, and 6 million square feet of property in 22 states of the USA.

David Lichtenstein REIT and Real Estate

David’s wife motivated him to venture into the real estate business when the couple was expecting their first child. Lichtenstein bought his first property in Lakewood, N.J. from his savings at a quoted price of $89,000. Through different sources of revenue and debts, David bought more properties. However, David fell into a debt crisis in 2009 after incurring $7.3 billion in debt from purchasing Extended Stay.

REIT is the acronym for Real Estate Investment Trust. Lichtenstein launched REIT in the year 2006 and this enabled him to raise capital from several other investors who were not part of his company. His REIT launch was known as Lightstone Value Plus, and it had an initial value of $300 million of fund money.

He made a deal of $200 million, in the same year, and bought 5,000 units within 19 multifamily rental properties in Detroit. He also spent $303 million to buy a couple of apartments in Birmingham, Alabama, making it his second deal in affordable housing in 2006. In 2007, Lichtenstein ventured into hospitality by purchasing Extended Stay Hotels for $8.1 billion. In 2010, he sold Prime Retail to the biggest outlet mall owner in U.S., Simon Property Group for $2.3 billion.

Lightstone Value Plus became quite successful and Lichtenstein decided to launch another non-traded REIT, Lightstone Value Plus II. It also followed the same strategy as the first and had its focus on making investments in several markets. In 2011, he made an investment in buying Crown Plaza Boston North Shore hotel for $10 million, Festival Bay Mall in Florida for $25 million, and residential development in Long Island City, New York, for $19.3 million.

David Lichtenstein Book

Apart from his work in real estate, Lichtenstein has written two books that focus on the Orthodox Jewish perspective on current events and contemporary topics such as abortion, terrorism, gay marriage, insanity, vaccinations, genetics, and missionary activities. He also hosts a weekly radio show in the New York-New Jersey area on several stations and speaks more on these topics.

Frequently Asked Questions About David Lichtenstein