Age, Biography and Wiki

Laurence Gluck was born on 1953 in South Bronx, New York, United States, is a Real Estate Investor. Discover Laurence Gluck's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 70 years old?

Popular As N/A
Occupation Real Estate Investor
Age 70 years old
Zodiac Sign N/A
Born , 1953
Birthday
Birthplace South Bronx, New York, United States
Nationality United States

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Laurence Gluck Height, Weight & Measurements

At 70 years old, Laurence Gluck height not available right now. We will update Laurence Gluck's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Who Is Laurence Gluck's Wife?

His wife is Sandra Gluck

Family
Parents Not Available
Wife Sandra Gluck
Sibling Not Available
Children Amanda Gluck, Dana Gluck, Heather Gluck

Laurence Gluck Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Laurence Gluck worth at the age of 70 years old? Laurence Gluck’s income source is mostly from being a successful . He is from United States. We have estimated Laurence Gluck's net worth , money, salary, income, and assets.

Net Worth in 2023 $1 Million - $5 Million
Salary in 2023 Under Review
Net Worth in 2022 Pending
Salary in 2022 Under Review
House Not Available
Cars Not Available
Source of Income

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Timeline

2005

In 2005, Gluck signed a contract to buy the 33-story Tivoli Towers in Crown Heights, Brooklyn, with plans to take it out of the Mitchell-Lama program but was forestalled when tenants discovered a covenant that prohibited Tivoli from leaving the Mitchell-Lama program until 2024. Litigation ensued and the confrontation became politicized with both borough president Marty Markowitz and U.S. Senator Chuck Schumer opposing Gluck's purchase. In 2010, New York City's Housing Development Corporation, unable to find another buyer who would renovate the aging property, struck a deal with Gluck: the city would provide Gluck with a $45.7 million low-interest mortgage to purchase the facility and Gluck would be allowed to raise rents although in a more measured way (still doubling them). The expiration of the Mitchell-Lama credits would also be extended from 2024 to 2040. As of 2010, Stellar management owns 24,000 apartments in New York, Chicago, Washington and San Francisco.

2004

Since 2004, he has purchased over a dozen aging residential complexes that had been built with state subsidies (see Mitchell-Lama program). As the subsidies expired, he replaced rent-regulated residents with market rate tenants (typically paying twice or thrice the rent). Although he typically renovates the facilities, he has had confrontations with tenant groups at several of his properties including Independence Plaza in Manhattan, Meadow Manor in Flushing, Queens, and Castleton Park on Staten Island and has been criticized for reducing the rent-regulated inventory of housing stock in New York City. In 2005, he borrowed $250 million to buy and renovate the Riverton Houses, a 1,232-unit residential development in Harlem, New York City, with 90 percent of its units rent-stabilized, but lost it to foreclosure in 2008 as the real estate boom collapsed.

1985

In 1985, he partnered with fellow Dreyer & Traub attorney Steve Witkoff and founded Stellar Management (the name Stellar is derived from Steve and Larry), and purchased cheap buildings in Washington Heights. In 1998, due to the collapse of the real estate market, Witkoff and Gluck dissolved their partnership with Gluck taking the residential properties under his firm Stellar Management and Witkoff the office buildings under his firm the Witkoff Group. Stellar, with Gluck at the helm, then focused on the repositioning and renovation of subsidized middle-class housing rental housing in New York City.

1980

After school, he worked at several law firms before working as a litigator at the law firm of Proskauer, Rose, Goetz & Mendellsohn and then in 1980, he accepted a job in real estate law at Dreyer & Traub where he later became a partner. He took a pay reduction (from $50,000 to $35,000) to go to Dreyer and Traub. Raising money from family and friends, he purchased his first building in Carroll Gardens, Brooklyn.

1968

Gluck was born to a Jewish family, raised in a two bedroom, one bathroom rent-controlled apartment in the Bronx. He has two brothers and a sister. His father worked for a catering company and operated a restaurant and his mother worked as a bookkeeper at a Chrysler dealership. Gluck worked as a waiter in the Catskills. In 1968, the family moved to Rego Park, Queens. He graduated from Queens College with a B.A. in Psychology and then a J.D. from St. John's University School of Law.

1953

Laurence Gluck (born 1953) is an American New York-based real estate investor, landlord, and the founder of the real estate company Stellar Management.