Jason Halpern Followed In His Father’s Foot Steps

Aloft Property: Jason’s Dream

Jason Halpern, a third generation real estate developer, was born in Passaic, New Jersey is 46 years old and graduated from Rutherford High School in 1989. He began his real estate career at Halpern Enterprises, his late father founded. Halpern’s father, Joel, was not on only a real estate developer but he was a national champion and raced powerboats and unfortunately was killed, in that sport, in 1981,

Jason Halpern Real Estate Partner of Aloft Property

In 2010, Halpern founded JMH Development LLC and is its Managing Partner. An active developer must find undeveloped land whose real value has not been determined. Land acquisition and assemblage can be risky if the developer does not have development rights, such as zoning. Another technique is to acquire run-down warehouses or an area that is subject to gentrification. Gentrification is replete with local resistance who want to maintain historic buildings, open spaces and to be able to afford to rent properties.

Jason Halpern has managed to assemble land in New York City, Las Vegas, Miami Beach and Southern California. The next step is financing the development and land use approval from local governments.

Jason Halpern’s family operated a successful development company which was in business for over 50 years. The company developed and managed properties such as residential apartments in New York City and high-end commercial space in Westchester, N.Y. Jason Halpern also found success in constructing and managing numerous properties in New York. Halpern’s philosophy is to restore historic properties. For instance, he purchased a landmark building to redevelop and maintain in New York City.

Jason Halpern with his Working Mates

It was not unusual for Halpern to work on projects in New York and Miami at the same time. He has been successful in completing more than $500 million in projects. He co-developed the Aloft South Beach in Miami which was more than 200 rooms. This project was renamed The Gates Hotel South Beach, and it was sold to a Boston real estate company, the Rockpoint Group.

In 2010, he worked with the Kushner Companies to convert the Wild Turkey bourbon warehouse in Williamsburg, Virginia into 338 condos. He bought the Brooklyn Heights Cinema and built nine luxury condos.

Jason Halpern: with Production

In 2015, much to Halpern’s credit, he initiated a relationship with non-profit global charity in Miami’s Three Hundred Collins residential development. He donated $20,000 to water projects in Ethiopia and Nepal. Therefore, JMH Development was successful in helping to bring safe water, to the Relief Society of Tigray and Splash, to Ethiopian and Nepalese citizens.

Jason’s Family

Jason Halpern followed in his father’s footsteps which also included racing. As a tribute to his father, he contributed to the Joel A. Halpern Trauma hub, at the Westchester Medical Center, which offers heart surgery, orthopedic surgery, and reconstruction of detached limbs.

Celebrities Fuel New York’s Real Estate Boom

While stockbrokers issue warnings about the possibility of a new recession for 2016, at least for now the real estate scene in New York City is booming thanks to the deep pockets of some of the most famous people in the world, according to the New York Times.

The late Joan Rivers recently saw her 11-room triplex on east 62nd street being purchased for a whopping $28 million. Paul McCartney and his wife bought a place on Fifth Avenue for over $15 million. Legendary rocker Jon Bon Jovi sold his Broadway penthouse for an astonishing $34 million.

Moguls and billionaires have been scooping up property in the city for the cost of a small fortune. The big sales this year ended up shattering every monetary record in the history of New York real estate. Some called it the year of the big sale.

Hedge Fund kingpin Kenneth C. Griffin bought a triplex in Central Park for approximately $200 million. That is the largest sale of a single residence not just in New York, but in all of America. The previous most expensive residence was at Central Park West, a full-floor penthouse owned by a Russian billionaire costing a total of $88 million.

This anonymous individual paid an astounding $100 million for the place, which includes a grand salon and a reception gallery.

Big sales like this will continue for at least a few more years, because there are deals already signed that will be closing in the next 36 months at developments near completion, like Greenwich Lane in Greenwich Village.

No discussion of real estate would be complete without mentioning Donald J. Trump. The man who is going to make America great again sold two penthouses at Trump Park Avenue for a total of over $21 million to the found of the Fresh Market supermarket chain.

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