Andrew S. Penson | |
|---|---|
| Born | Andrew Seth Penson[1] |
| Education | State University of New York at Stony Brook New York Law School |
| Occupation | Real estate investor |
| Spouse | Shannon |
Andrew S. Penson is an American businessman fromNew York City. He is areal estate developer andinvestor incommercial real estate projects.
Penson has been an active participant in a number of high-profile real estate transactions. Penson foundedArgent Ventures,[2] which has acquiredGrand Central Terminal[3] in New York City, theCapital Records Building inHollywood, California, and other buildings. Penson engages in philanthropy through his foundation.
Penson grew up on theEast Side of Manhattan; his father was "a businessman who specialized in converting rental apartments intoco-ops."[4] Penson received a B.A. from theState University of New York at Stony Brook.[5] He received hisJ.D.cum laude fromNew York Law School in June 1984.[1][5][6]
Penson is the founder and president ofArgent Ventures, a privately held real estate company based in New York City that has ownership ofGrand Central Terminal, the land beneath it and around 156 miles ofMetro-North Railroad tracks in theNew York City metropolitan area. As of 2013, Argent has invested over $2.5 billion in real estate, mostly in New York, California, Florida, and theDistrict of Columbia.[4] Partnering withOak Tree Capital Management, Millennium Partners andMorgan Stanley, among other large corporations. Argent ownsOmni International Mall in Miami, Florida and theCapitol Records Building inHollywood, California. He has been involved in other high-profile real estate transactions, including theManhattan Mall[7] building inMidtown West, Manhattan; the building was sold for $689 million in 2006.[4] In 2013 Argent placed a $710 million bid on a portfolio that included theEmpire State Building.[8]
In 1998, Penson unsuccessfully bid for ownership of theWashington Redskins football team, offering $450 million.[4]
Penson and his wife Shannon are the founders of AGT Penson Foundation, acharitable foundation that supports Jewish religious institutions (such as congregations); educational institutions (such asJewish day schools) and youth organizations.[5]
Penson is anOrthodox Jew.[5] He observes theJewish Sabbath and has raised funds forUnited Jewish Appeal.[4] Penson and his wife Shannon are known for keeping a low profile[5] and for not seeking publicity.[4]