Albert Laboz – Developer and Landlord
Albert Laboz is a real estate developer, landlord and founder of United American Land. His firm specializes in revitalizing historic buildings into luxury residences while upgrading commercial property for upgraded retail use.
Space users, developers, not-for-profit organizations and government agencies entrusted him with office, commercial and retail lease transactions.
Early Life and Education
In 1931, Seattle Sephardic leaders initiated a search for an intellectual and educator to inspire their community. Albert Laboz had edited Ladino newspaper LaVara before moving with his family to Seattle.
He served as head of Sephardic Talmud Torah while living in Seattle and led efforts to unify Seattle’s Sephardic community, including pushing synagogues to merge and work together for revitalization of their respective communities.
Albert is currently a New York real estate developer and landlord, with memberships in both Fulton Mall Improvement Association and Downtown Brooklyn Partnership as well as board membership in Chai Lifeline (a charity dedicated to providing help and support for children with genetic disorders or cancer).
Albert Laboz is the founder of United American Land and an accomplished commercial real estate developer. He specializes in representing tenants, landlords, not-for-profit organizations and public agencies in office, retail and industrial lease negotiations as well as buyers, sellers and investors in real estate transactions. Albert has also successfully negotiated and structured numerous large complex financing arrangements on behalf of his clients.
In Brooklyn, he serves as Chairman of the Fulton Mall Improvement Association and as an Executive Committee Member for both Downtown Brooklyn Partnership and Metrotech Business Improvement District. Additionally, he serves on the Yeshiva of Flatbush Trustee Committee while being an avid supporter of Chai Lifeline.
Laboz is widely praised for leading the transformation of Canal Street in downtown Brooklyn into an experimental arts and retail space. By uniting 22 commercial landlords on Canal, he transformed 22 empty stores into art venues that can now serve as destinations.
Achievement and Honors
Albert Laboz has been an integral figure in New York-based real estate for more than three decades, as both developer and landlord. As founder and chief executive officer of United American Land, which specializes in renovating historic buildings into luxury residences for rent. Furthermore, Laboz develops and manages commercial properties throughout Manhattan and Brooklyn.
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Large inheritances under strict conditions from deceased are a familiar plotline in movies and thrillers, yet rarely occur in real life. But millionaire Manhattan landlord Maurice Laboz put this theory to the test through his will: it left $20 million to each of his daughters, Marlena and Victoria. They’ll receive guaranteed 3% payouts every January 1 from their trust fund until their employment obligations cease outside the home.
Funds raised will also allow them to buy and renovate property; Laboz family’s business includes renovating historic buildings in Tribeca, Soho and Flatiron District into residential apartments; upgrading commercial properties into upgraded retail space; as well as plans to transform 22 vacant storefronts on Canal Street into an experiential arts and innovation district.
Fictional thrillers and comedies often depict inheritances with strings attached, yet this phenomenon doesn’t occur frequently enough in real life. That may change with the death of New York landlord Albert Laboz who left each daughter, Marlena and Victoria, $20 Million each if they fulfill certain predetermined conditions set forth in his will.
Conditions included the two sisters finding work and being employed for at least a year before receiving any money from Laboz’s will. They must also earn an annual 3% payout by taking care of their mother (which he did not leave anything directly but instead cited a prenuptial agreement) before receiving anything directly.
If these conditions aren’t fulfilled, Laboz’s $37 million fortune will go to charities like Michael J Fox Foundation for Parkinson’s Research and Meals on Wheels. He signed his will shortly before passing away in April 2014.