For Jeremy Leventhal, the 28-year-old managing partner of Faros Properties, a Rye- and New York City-based real estate investment firm with assets across the nation, real estate is in his blood. “I guess I grew up with it,” he says. “My grandfather started a real estate development company over 60 years ago, and my father is in the business, running a real estate private equity fund.”
Leventhal started his own career in high school when he worked for CBRE, a leading commercial real estate company in New York City. During his undergraduate years at Northwestern University and London School of Economics, where he studied Economics, he spent his summers working for Lehman Brothers’ real estate group and Morgan Stanley’s real estate group in both London and New York City. After graduating, he took a full-time job with the latter in the Manhattan office working in real estate investment banking, where he mastered the art of acquisitions.
Three years ago, Leventhal decided it was time to venture out on his own. He teamed up with his older brother, Alex, and Elliot Gould, a close family friend, to buy an 80,000-square-foot office building in Stamford, Connecticut. “That was the start of our company,” he says. The team then bought two office buildings in Westchester (a 170,000-square-foot office building in Rye and a 145,000-square-foot one in White Plains) and a residential family building in Pittsburgh. “It’s hard,” Leventhal says about going out on his own. “But it’s good. It was rewarding.”
Now, Leventhal and his business partners run a company that has more than 25 employees and $100 million worth of real estate. And they are constantly on the lookout for how they can expand and acquire even better investments.
“I think we can handle a lot more,” says Leventhal. “We should be pushing ourselves a lot more. I always think we can do better and grow faster and develop a larger and stronger company.”