MIB: Francis Greenburger, Time Equities

This week, we speak with Francis Greenburger, real estate developer, literary agent, author, philanthropist and the founder of Time Equities. Early in his career he became known as “the co-op king of New York” for his specialty of converting prewar apartment buildings into occupant-owned residences. He is also the author of Risk Game: Self Portrait of an Entrepreneur.

Greenburger began renting out properties while in his teens, and with a $5,000 loan from his father, he founded Time Equities Inc (TEI) in 1966 to focus on real estate development, investment, and property management. He began acquiring buildings until Black Monday and the S&L crisis threatened his holdings, as buyers no longer could get mortgages. After selling a few buildings, he rode out the rough times, eventually making his fortune by converting buildings into co-ops.

TEI has properties in 30 states, five Canadian provinces, Germany, the Netherlands, and Anguilla, and holds approximately 31.1 million square feet of residential, industrial, office and retail property – including over 4,000 multi-family apartment units, worth over $4 billion dollars, generating revenues of $336 million annually – in its own portfolio.

He still chairs his late father’s literary agency, Sanford J. Greenburger Associates, representing powerhouse writers like Dan Brown and Nelson Demille. Greenburger’s philanthropies include two foundations: the Greenburger Center for Social and Criminal Justice and the OMI International Arts Center.

His favorite books are here; transcript of our conversation is posted here.

You can stream/download the full conversation, including the podcast extras on iTunesBloombergOvercast, and Stitcher. Our earlier podcasts can all be found at iTunesStitcherOvercast, and Bloomberg.

Next week, we speak with Jason Schwarz President, Wilshire Funds Management and Wilshire Analytics. The firm, which was founded in 1972, was a pioneer in the field of quantitative investment analysis. Wilshire manages more than $195 billion in capital for more than 600 institutional investors.






Francis Greenburger’s Book

Risk Game: Self Portrait of an Entrepreneur by Francis Greenburger


Francis Greenburger’s Favorite Books

Sapiens: A Brief History of Humankind by Yuval Noah Harari

Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell

Developing: My Life by William Zeckendorf, Jr.

Origin: A Novel by Dan Brown

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