The Promote Podcast Gary Barnett: The Father of Billionaires' Row
Apr 9, 2025
Explore the fascinating journey of Gary Barnett, from diamond dealer to mogul of Manhattan's Billionaires' Row. Discover how he transformed New York's luxury real estate scene with iconic projects like One57. Delve into high-stakes negotiations and creative financing strategies that define his career. Uncover family feuds in real estate and the legal complexities of co-ownership disputes. This narrative paints a vivid picture of the risks and rewards in the competitive world of Manhattan property development.
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Diamond Origins
- Gary Barnett's real estate career began in the diamond exchange of Belgium.
- He married into a diamond dealing family and reinvested their profits into U.S. real estate.
Midwest Beginnings
- Barnett started by buying shopping centers in the Midwest and eventually became the largest landowner in Wichita.
- He later sold these properties profitably and moved to New York.
The Belnord Deal
- In 1994, Barnett, along with Kevin Maloney and Zeal Feltman, bought the Belnord, a complex Manhattan building, for $15 million.
- Years later, Feltman bought it back for $500 million, highlighting Barnett's deal-making prowess.