In 1985, David Lichtenstein humbly began a now storied real estate career with a rather modest start. His very first real estate investment was a single two-family home in New Jersey purchased with a small loan. Lichtenstein pulled together a $12,000 down payment, raised by maxing out a credit card and tapping out a small savings account. Over the next couple of years, Lichtenstein used the cash his properties generated, leveraged with loans, to keep buying real estate.
Founded by David Lichtenstein in 1988, The Lightstone Group is currently one of the largest privately held real estate companies in all of America. By 2003, Lightstone was recognized as one of the most active property buyers in the U.S., with an estimated worth of $1 billion to $2 billion. By 2005, that worth had grown to an estimated $3 billion.
Today, The Lightstone Group ranks among the top 25 largest real estate companies of any kind in the United States, and employs approximately 1,150 staff and professionals. Lightstone has offices in New York City, as well as in New Jersey, Maryland and Illinois.
In addition to chairing the company, Mr. Lichtenstein directs all aspects of the acquisition, financing and management of a diverse portfolio of multi-family apartments, in addition to office, lodging, retail and industrial property in 24 states, the District of Columbia, Puerto Rico and Canada.
Lichtenstein personifies The Lightstone Group‘s commitment to delivering the highest standard of quality, integrity and excellence to its clients. Over the years, David Lichtenstein has built a reputation for his ability to acquire and finance real estate opportunities that provide value for investors based on willingness to seek out properties that offer the prospect of high returns and have challenges or complexities that limit their appeal to other investors, including properties with distressed capital structures. By regularly employing this strategy, Lightstone has averaged more than 30% annual returns over much of its existence.
Lightstone continues seek new acquisitions across the country in both urban and suburban locations and across a wide range of property types, including industrial, office, retail, multifamily and hospitality.