Fred Ohebshalom (born 1952) is an American real estate developer and founder of Empire Management.
[American Committee for Shaare Zadek Medical Center in Jerusalem: "Nader and Jeanette Ohebshalom (Kings Point, NY) and Fred and Yvonne Ohebshalom (Kings Point, NY) - Newest Gift: $260,000 to Name The Parviz Ohebshalom Cancer Pain and Palliative Medicine Clinic"]
Spring 2009
Biography
Ohebshalom was born to an
Iranian Jewish
Persian Jews or Iranian Jews ( fa, یهودیان ایرانی, ''yahudiān-e-Irāni''; he, יהודים פרסים ''Yəhūdīm Parsīm'') are the descendants of Jews who were historically associated with the Persian Empire, whose successor s ...
family
[New York Post: "COPS BARGE IN ON BAD LANDLORD" By Brad Hamilton]
October 23, 2005[Columbia Spectator: "Tenants Allege Intimidation" By Sara Vogel]
October 3, 2006 in
Tehran, Iran
Tehran (; fa, تهران ) is the largest city in Tehran Province and the capital of Iran. With a population of around 9 million in the city and around 16 million in the larger metropolitan area of Greater Tehran, Tehran is the most pop ...
.
In 1964, he emigrated to the United States
where he graduated with a B.A. in Business Administration from
Pace University
Pace University is a private university with its main campus in New York City and secondary campuses in Westchester County, New York. It was established in 1906 by the brothers Homer St. Clair Pace and Charles A. Pace as a business school. Pace ...
.
In 1975, he purchased his first building in
Rego Park, Queens
Rego Park is a neighborhood in the borough of Queens in New York City. Rego Park is bordered to the north by Elmhurst and Corona, to the east and south by Forest Hills, and to the west by Middle Village. Rego Park's boundaries include Queens ...
.
He built the company by focusing on purchasing modest-size rental buildings in Manhattan. As of 2014, he owns over 100 apartment buildings in Manhattan.
In 2011, he made a foray into large scale development with the purchase of 111 Washington Street in the Financial District for $50 million after the owner defaulted; three years later, thanks to a boom in financial district real estate, it was listed for sale at $260 million. He now plans to build a 54-story tower on the site.
[The Real Deal: "54-story luxury rental planned for 111 Washington in FiDi" By Adam Pincus](_blank)
July 15, 2011 Although he has been criticized for raising the rent after rent stabilized tenants move out, New York State law allows a 17-20% increase to rent if a rent stabilized tenant vacates.
In 2011, 357 West 45th Street, a property owned by Ladera Partners, LLC, a company owned by the Ohebshalom family, was foreclosed upon; in 2012, Ladera sought the subsequent sale of the property to be vacated and the property returned to their ownership. The request was denied due to the fact that "Ladera defaulted on its mortgage in early 2010...Ladera failed to pay taxes and failed to maintain the building, allowing serious conditions of disrepair to develop in occupied residential buildings."
Philanthropy
Ohebshalom sits on the boards of the Iranian American Jewish Committee and of the Bet Hadassah Iranian Jewish Center.
He has also served as president of the Sephardic Heritage Alliance and represents the Iranian community on the board of the
Hebrew Immigrant Aid Society
HIAS (founded as the Hebrew Immigrant Aid Society) is a Jewish American nonprofit organization that provides humanitarian aid and assistance to refugees. It was originally established in 1881 to aid Jewish refugees. In 1975, the State Departm ...
.
He is a benefactor of the Parviz Ohebshalom Cancer Pain and Palliative Medicine Clinic at
Shaare Zedek Medical Center
The Shaare Zedek Medical Center ( he, מרכז רפואי שערי צדק, ''Merkaz Refu'i Sha'arei Tzedek'') (lit. "Gates of Justice") is a large teaching hospital in Jerusalem established in 1902, It affiliated with Hebrew University of Jerusal ...
in
Jerusalem
Jerusalem (; he, יְרוּשָׁלַיִם ; ar, القُدس ) (combining the Biblical and common usage Arabic names); grc, Ἱερουσαλήμ/Ἰεροσόλυμα, Hierousalḗm/Hierosóluma; hy, Երուսաղեմ, Erusałēm. i ...
(named in honor of his brother)
and Meir Panim which is dedicated to feeding hungry Israelis.
[Meir Panin Organization: "Iranian Jewish Community Gathers to Support Meir Panim"]
January 25, 2012 He was an early founder of the Beth Hadassah Synagogue in
Great Neck, New York
Great Neck is a region on Long Island, New York, that covers a peninsula on the North Shore and includes nine villages, among them Great Neck, Great Neck Estates, Great Neck Plaza, Kings Point, and Russell Gardens, and a number of unincorpo ...
.
Personal life
Ohebshalom lives in
Kings Point, New York
Kings Point is a village located on the Great Neck Peninsula in the Town of North Hempstead in Nassau County, on the North Shore of Long Island, in New York, United States. The population was 5,005 at the 2010 census.
History
The Village of Ki ...
with his wife Yvonne; they have four children: Richard, Sandy, Alex and Stephanie.
His son Alexander serves as Vice President at Empire Management.
The Real Deal: "Fear and lending in New York: With regulators on their backs, banks get too timid" By Adam Pincus
April 02, 2012 His son Richard is also the CEO and Founder of the real estate development firm, Pink Stone Capital. His brother Nadir is President of residential and commercial property management company Gatsby Enterprises. Real estate developer Ben Shaoul interned with his company.
References
{{DEFAULTSORT:Ohebshalom, Fred
1952 births
Jewish American philanthropists
American people of Iranian-Jewish descent
American real estate businesspeople
Pace University alumni
Iranian Jews
Living people
People from Kings Point, New York
Philanthropists from New York (state)
21st-century American Jews
People from Tehran
Iranian emigrants to the United States