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
As of 2014, he owned over 100 apartment buildings in Manhattan.
Early life Ohebshalom was born to an Iranian Jewish familyColumbia Spectator: "Tenants Allege Intimidation" By Sara Vogel October 3, 2006 in Tehran, Iran. In 1964, he emigrated to the United States where he graduated with a B.A. in Business Administration from Pace University.
Career In 1975, he purchased his first building in Rego Park, Queens. He built the company by focusing on purchasing modest-size rental buildings in Manhattan.New York Times: "For Rental Buildings, A Rising Market" By ALAN S. OSER October 5, 2003
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.Crain's New York: "Downtown lot hits market at a princely $260M" By Daniel Geiger March 10, 2014Long Island Real Estate: "FiDi development site hits market for $260 million" by Angela Hunt retrieved July 18, 2014 He then planned 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 July 15, 2011New York Yimby: "Vertical Potential: 111 Washington Street" by Nikolai Fedak March 26, 2014
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.Voz Iz Neias: "New York, NY - Shalom Organization Accused of Illegal Evictions" February 1, 2008Columbia Spectator: "110th St residents Disgruntled" April 27, 2004Queens Chronicle: "Middle Village City Block Dies A Slow Death: Why" by Austin Considine March 6, 2008
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 AllianceNew York Times: "LONG ISLAND JOURNAL; Circling the Welcome Wagons" By MARCELLE S. FISCHLER December 5, 1999 and represents the Iranian community on the board of the Hebrew Immigrant Aid Society. He is a benefactor of the Parviz Ohebshalom Cancer Pain and Palliative Medicine Clinic at Shaare Zedek Medical Center in Jerusalem (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.Beth Hadassah Synagogue: "History of Beth Hadassah" retrieved July 19, 2014
Personal life Ohebshalom lives in Kings Point, New York 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 2, 2012
His son Richard is also the CEO and Founder of the real estate development firm, Pink Stone Capital. His brother Nader is President of residential and commercial property management company Gatsby Enterprises. Real estate developer Ben Shaoul interned with his company.
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