Joel Schreiber Net Worth:- A Look Into the Estimated Net Worth of ‘Water bridge Founder’ in 2022| Latest Updates!
Joel Schreiber is the founder of Waterbridge Capital and a British-born American real estate developer and investor.
Schreiber was born in London to a Hasidic Jewish household. He went to New York City in 2000 and purchased residential real estate in Brooklyn, upstate New York, and New Jersey with the support of his family and private investors.
|In London to a Hasidic Jewish household
|Founder of Waterbridge Capital
|British-born American real estate developer and investor
Joel Schreiber’s Career!
In 2004, he sold most of the residential portfolio to concentrate on commercial properties in Manhattan. He established Waterbridge Capital in 2006 as a platform for his investments.
Waterbridge normally leaves the development of assets to its partners and focuses on raising cash and finding partners. In 2007, he made his first large investment, purchasing 536 Broadway for $190 million.
In 2010, he purchased a 33-per cent investment in WeWork (established by Adam Neumann and Miguel McKelvey) for $15 million after meeting the founders who were asking about a prospective lease.
The transaction, according to McKelvey, was a watershed moment for the company. In 2012, he bought a set of properties on Bedford Avenue in Williamsburg, Brooklyn, for $66 million with RedSky Capital’s Ben Bernstein and Ben Stokes; they rebuilt the property and later signed Apple to a 20,000-square-foot retail lease.
Schreiber teamed up with Brooklyn real estate billionaire David Werner in 2012 to buy One Court Square in Long Island City, Queens for $481 million from Stephen L. Green’s, SL Green, and JPMorgan Asset Management.
In 2012, he bought the top floors of the Woolworth Building for $68 million with Kenneth S. Horn of Alchemy Properties and WeWork’s Neumann and transformed them into condominiums.
It is questionable how much of an interest Schreiber presently maintains in WeWork; the latest pre-IPO estimate is $48 billion.
Along with fellow Hasidic developers in Brooklyn, Joseph Brunner, Isaac Hager, Yoel Goldman, and Simon Dushinsky, he is one of the prominent real estate developers in Brooklyn who has catalysed the gentrification of the Brooklyn neighbourhoods of Williamsburg, Bushwick, Greenpoint, Borough Park, and Bedford-Stuyvesant.
Joel Schreiber’s Net Worth!
Joel has a net worth between $3 million and $5 million. Joel made the most of his money from his Yeezy footwear.
While he had overstated the size of his business throughout the years, the money he made from it was real–enough to make him one of the richest celebrities of all time. His primary source of income is as a successful businessperson.
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