MR Management — Mann Report Management April 2015
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From Entertainment Guru to Real Estate Investor at FIMIDA Enterprises
Daniel Figotin, Principal Fimida Enterprises

For over 20 years Daniel Figotin threw some of the hottest parties in New York City and around the globe. His company was a fixture in the nightlife and entertainment industries. The Rydan Group specialized in event planning and talent booking for some of the biggest names in fashion, music and nightlife.

Celebrities like Adrian Brody, Demi Moore, Lenny Kravitz, Britney Spears, P. Diddy, Christina Aguilera and Kim Kardashian attended Figotin's events not just in NYC, but in the Hamptons, Miami, Paris and Milan. Danny became a dealmaker in entertainment PR, connecting brands with music industry heavyweights such as Stevie Wonder, Enrique Iglesias, Carlos Santana, among others.

Today, Figotin has put his passion, hard work and incredible network of contacts and relationships from all avenues to work in Fimida Enterprises, a real estate management, investment and development firm he founded in 2011 that he says, is focused on his "love of deal making and the desire to create worth out of nothing from profitable real estate investments."

Born in Moscow, but raised in New York City, Figotin has had a lifetime front row seat to the city's rocketing real estate landscape. His family owned multi-family homes in Brooklyn and he helped manage the properties on a part-time basis since he was 18-years-old.

"As a property manager for my family's real estate portfolio, I developed a discerning eye for low-risk investments that bring solid returns," added Figotin. "As I did in entertainment, the thrill comes in the art of building tangible events and properties. Whether re-appropriating decades-old property or purchasing a new parcel of land, I am passionate about creating trusted, profitable partnerships."

Figotin's family business and his love for real estate inspired him. "The contacts and connections I garnered in my previous career in the entertainment/ nightlife industries made it easy for me to transition to real estate,'' he said. "It felt like the natural move to make."

While lately his company is busy buying investment properties in Brooklyn's Williamsburg and other emerging neighbour-hoods like South Slope and Greenwood Heights, his hottest and largest deal was the purchase last month of a development site on the Upper East Side in Manhattan. On that deal, Figotin and three other developers will turn the prime property into a 21-story luxury condominium tower.

They have hired a top architect to design the 50-unit, 70,000 square foot luxury tower that will be one of the Upper East Side's newest ground-up large luxury condominiums to be built in the area north of East 86th Street, which has not seen new substantial condo construction in over five years.

"We are very excited to bring this badly needed new product to a neighbour-hood that is transforming before our eyes," said Figotin. "There is a very high demand in the neighbour-hood for new condominiums. The only recent condos in the area have come from converted rentals which are old stock."

Figotin also recently partnered with his good friend, Daniel Minkowitz of Mink Development, to purchase the former home of Gloria Vanderbilt at 39 E 72nd Street in New York City for $19 million where he and his partners are restoring and transforming the townhouse into an uber-luxury multi-family building.

His company is always on the lookout for brokers who can bring in fresh product and investors they can add to their list of long-time financial backers. " "We love to earn money for others as much as for ourselves," said Figotin.

Despite all the famous and successful people he knows from the worlds of real estate and entertainment, it is Figotin's own mother, Lyudmila Figotin, who inspires him the most. "She came to the United States from Russia as a single mom, with a baby and barely any money, yet she managed to make something out of nothing through New York real estate." Daniel and Fimida Enterprises are on the way to do the same!

Daniel Figotin
Principal
Fimida Enterprises
917-535-9020 - CELL
danny@fimidanyc.com
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