The guy is a New York lawyer, and his family is one of the largest real-estate companies in the world, according to Forbes. The company is now known as Dunham Holdings, but Dunham, 44, is still at the head of the table.
His company paid $2.7 billion for New York State Land Conservancy in 2009, according to data from the New York State Committee for the Historical Properties and Taxation of New York’s Executive Office of Property, the agency that oversees the property.
But, like so many other wealthy New Yorkers, that was one sale. In the years since his purchase, Dunham has bought properties from around the world, including one in Germany valued at $1.19 billion.
And in the past four years, Dunham has made more than $40 million from various loans obtained from lenders at banks like JP Morgan Chase and New York Federal Savings.
The numbers don’t include many loans made under a tax shelter that Dunham used to help build his portfolio. He has claimed the $60 million exemption for himself without disclosing he was taking out more than $6 million a year in loans on his holdings from his company to finance his purchases.
In an email response to questions from The Huffington Post, a spokesperson for the Connecticut-based entity that owned and operated Dunham Holdings, Dunham Holdings LLC, said the bank was satisfied with some of the transactions. But when asked why Dunham’s portfolio is valued at roughly half that amount, the spokesperson said there are “no other details disclosed.”
Loan documentation shows Dunham has sold a total of 16 parcels, the highest number of sales since his purchase of the Connecticut property in 2007.
Among them, a tract in India valued at $2.2 billion, according to property listing site Realtor.com. In 2007, Dunham bought the 740,000-square-foot mansion in Malibu, California, valued at $6.1 million. (At $8 million a share, that means the sale for Dunham was worth more than $5.5 million.) He later sold that property to another investor for $23 million.
The sale was on the market for about two months before Dunham sold it for half the price.
Dunham also has made some of his most notable purchases in the United States, buying property in Florida in 2007 for $800,000.
He bought the 13-acre property near the Orlando airport in 2012, which was worth $1.8 million when it
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