Two Trees Management

Two Trees Management
IndustryReal Estate
Founded1968
FounderDavid Walentas
HeadquartersNew York City, New York, USA
Key people
Jed Walentas (CEO)

Two Trees Management is a privately held real estate development and management company based in New York City. The company was founded in 1968 by American billionaire and real estate developer David Walentas.[1]

Company History

Two Trees Management was established in the late 20th century by David Walentas, who began acquiring industrial properties in Dumbo, Brooklyn. By the early 2010s, leadership had transitioned to Jed Walentas, who serves as chief executive officer.[2]

In 2012, Two Trees reached an agreement to acquire the abandoned Domino Sugar Refinery site in Williamsburg for approximately $185 million, following negotiations with stakeholders and the city. Throughout the 2010s, the site was redeveloped, incorporating residential towers, office space, public waterfront access, and the preservation of the refinery structure itself.[3]

In 2014, the New York City Planning Commission approved a revised $1.5 billion redevelopment plan for the Domino site. Demolition of non-landmarked refinery structures began the same year, followed by phased construction of residential and mixed-use buildings. The first building opened in 2017. Domino Park opened in 2018 and continued development into the 2020s, including the launch of One Domino Square in 2024.[4][5]

Two Trees also manages a portfolio that includes commercial leasing and mixed-use developments in Williamsburg, Dumbo, and the Flatiron District.[6] 45 Main Street, 55 Washington Street, and 20 Jay Street, located in Dumbo, house 79 design, architecture and real estate firms.[7]

Properties

  • Domino Sugar Refinery - mixed-use development and former sugar refinery in the neighborhood of Williamsburg, Brooklyn.[8]
  • One South First - residential building in the neighborhood of Williamsburg, Brooklyn.[9]
  • One Domino Square – residential development on the Williamsburg waterfront.[10]
  • DUMBO – residential, commercial, and retail properties developed and managed across the DUMBO neighborhood of Brooklyn.[11]
  • Domino Park - public park along the East River.

References

  1. ^ Sherman, Gabriel (June 13, 2014). "The Flying Walentases". New York Magazine.
  2. ^ Greenwood, Marcia (October 14, 2014). "David Walentas: From nowhere to billionaire". Democrat and Chronicle.
  3. ^ King, Kate (November 4, 2024). "An Old NYC Sugar Factory Is Now a Swanky Office. It's Still Waiting on Tenants". The Wall Street Journal.
  4. ^ Hu, Winnie (May 11, 2026). "Need to Hire an Architect or Designer? Try Dumbo". The New York Times.
  5. ^ Chaban, Matt (March 5, 2014). ""Domino Sugar Plan Moves Ahead"". New York Daily News.
  6. ^ Mooney, Jake (May 13, 2012). "Condo or Rental, It's New in Dumbo". The New York Times.
  7. ^ "Need to Hire an Architect or Designer? Try Dumbo". New York Times.
  8. ^ Furfaro, Danielle (October 16, 2012). "It's official: Two Trees is now developing the Domino Sugar factory". Brooklyn Paper. Retrieved 13 May 2026.
  9. ^ Schiavo, Amanda (January 30, 2025). "The Plan: Two Trees Management Has High Hopes for The Refinery's 12th Floor". Commercial Observer.
  10. ^ Cohen, Michelle (February 11, 2026). "One Domino Square penthouse set to break another area sales record at $7M". 6sqft.
  11. ^ "Two Trees Management Co. close on largest lease in DUMBO in 2025". New York Real Estate Journal. February 10, 2026.

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