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Biography of David D. Wasserman
David D. Wasserman is focused on US real estate opportunities and has over 23 years
experience in all aspects of real estate as a developer and an investor. He is based in New
Mr. Wasserman, a native of Providence, Rhode Island, earned an A.B. Degree at
Columbia University, New York in 1981. Thereafter, Mr. Wasserman became a J.D. at
Boston University School of Law in 1984 and then practiced at Finley, Kumble and
Wagner in the New York and Los Angeles offices. He concentrated on real estate
transactions, leasing and corporate finance. In 1987, he was named “of counsel” to
Edwards & Angell and concurrently joined Bernard and Richard Wasserman at
Wasserman Real Estate Capital as a Principal.
While at Wasserman Real Estate Capital, Mr. Wasserman led a team of investment
professionals and piloted the company's growth by creating and maintaining strategic
relationships with retailers, prominent real estate funds, public companies, and
municipalities. Mr. Wasserman guided the business by establishing the following key
principles and strategies:
- Create value through the re-development of commercial and residential real estate, through off market transactions in unique in-fill locations;
- Negotiate transactions which maximize return on invested capital while minimizing risk, without focus on deal size;
- Retain high quality projects with consistently high occupancy rates through efficiency and accountability of owner management to our tenants;
- Support the communities where we work, live and develop; and
- Commit to public art and design for each project and community.
Wasserman Real Estate Capital entered the fund management business through a
relationship established with Fidelity Investments. That venture invested $35 million of
equity into transactions totaling more than $100 million. Following this success, he led
the formation of two additional alliances with Starwood Capital Group and Vornado
Realty Trust. Starwood Wasserman and the following Wasserman Vornado Strategic
Real Estate Fund were established with the objective to deploy investor capital, acquire,
reposition, and redevelop unique projects in high-density, high-growth metropolitan
areas. These ventures deployed $125 million and $165 million of equity, respectively, in
more than $1 billion of projects in California, Ohio, Michigan, Florida and the Northeast.
The Starwood Wasserman portfolio returned a 29% IRR to investors over a seven year
holding period. In addition, other Wasserman Real Estate ventures have invested in and
developed or redeveloped two million square feet of office and industrial property. (See
In addition to having extensive experience in the real estate business, Mr. Wasserman is
an advocate and a champion of the arts and has thus produced several independent films
that have focused on innovative and socially meaningful issues.
Among Mr. Wasserman’s credits, he was a Producer of “Chelsea on The Rocks”, a
journey inside the walls, history and mythology of Manhattan’s celebrated bohemian
landmark, The Chelsea Hotel, which went on to be an Official Selection at the Cannes
Film Festival. He was a consultant to the lead Producer on funding, deal structuring, and
strategic partnerships on the film “Hounddog”, starring Dakota Fanning and Robin
Wright Penn, that premiered in competition at The Sundance Film Festival. More
recently, he consulted in the same capacity on several other projects coming to screen and
currently in post-production. These projects include “Meskada” (Associate Producer),
starring Rachel Nichols, Kellen Lutz, and Nick Stahl, and “Evolution of a Criminal”,
directed by Darius Clark Monroe (Producer, Spike Lee Executive Producer).
Mr. Wasserman is a Member of the Actors' Equity Association, a National Committee
Member at the Whitney Museum of American Art, a Trustee of Creative Time, a Trustee
of the Walnut Hill School and a Member of the National Arts Club. He has been a faculty
member at the Stern School of Business Administration at New York University as
Adjunct Professor of Finance since 2006.