He has made a stunning profit by creating something where there was nothing and exemplifies the perfect example of the entrepreneurial spirit.
Throughout this project Walentas faced adversity in the form of politicized opposition, economic down turns, and undertaking a project that many would have viewed as impossible. However, these adversities did not stop him, he believed in his idea and in himself. This confidence in no uncertain terms enabled him to reach the top of his industry and become known as a real estate mogul. He had a vision and was determined to carry it out to successful completion. Through his perseverance he was able to turn a run down, abandoned neighborhood into a vibrant and flourishing area that has attracted many businesses and residents.
Walentas' plan incorporated various different ways to add value to his properties. First, he took the deteriorated buildings that he purchased and converted them into offices and high end condos. He did not just go in there and frame up offices as some developers would do either. The strategy that he played out was to construct offices that were fully equipped, ready to move into, and get down to business. Also, he deliberately attracted businesses that would add to the culture of the neighborhood and that could work together. Doing this has helped to create a tight nit business community which is a great value for any business tenant occupying space in DUMBO.
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