John Spahi

John Spahi is an accomplished real estate investor and businessman, with several properties located in Manhattan’s East Village region.

He owns several condominiums which he rents out. Additionally, he is involved in several ventures where he partners with others – these include a textile manufacturing company and comic book publishing house.

Early Life and Education

John Spahi, a native of Levis, was born to parents with Egyptian, Tunisian, Syrian and Turkish heritage. After leaving Egypt he lived in several countries before settling in California.

In 1983, he opened a hosiery shop in Manhattan that proved to be an unprofitable venture; it was eventually sold to a local company.

Ultimately, the Spahi family relocated to Santa Monica. Nowadays, John serves as Vice President of Ocean Avenue Realty.

He recently purchased three residential condominiums at 100 Avenue A in the East Village and plans to resell them as rentals. Additionally, he owns a 42-unit apartment building in Santa Monica which he purchased for $250k and has since turned into an impressive $3.2 million profit. His 27-year-old son Omar y spahi works in his family real estate business as well.

Professional Career

As a real estate mogul, Omar Spahi has achieved success that many can only imagine in their lifetimes. He acquired three luxury residential condominiums in Manhattan’s East Village and 40 units at Santa Monica, California’s Ocean Tower.

He is the grandson of John Spahi, who made a fortune in the textile industry after immigrating from Egypt. After opening a hosiery business and investing in real estate, John turned his attention towards investing.

He recently invested $5.4 million into three apartments at 100 Avenue A in NYC and owns 40 apartments at Ocean Tower in Santa Monica, which he intends to rent out. However, a report by the Special Litigation Committee revealed that he sold condominiums priced millions below market value and has been experiencing cash flow difficulties ever since.

Personal Life

John Spahi’s passion isn’t just real estate; he also writes comic books and hopes to one day fly a plane.

John Spahi’s professional career has been a great success, yet his personal life has not always been smooth sailing. During the recession, he had to seek bankruptcy protection and his hosiery store closed after only two years due to lack of customers.

He’s since returned to his real estate career, spending $5.4 million earlier this year for three residential condominiums in Manhattan’s East Village.

He recently added 40 units to Ocean Towers in Santa Monica and intends to monetize them by renting them out.

Net Worth

John Spahi, an Egyptian by heritage, immigrated to the United States in 1975. He initially worked as a hosiery store owner in New York City before embarking on his investment career with real estate investments – including purchasing a 42-unit apartment building in Santa Monica, California.

Today, the family’s net worth stands at $19 million. Its real estate portfolio includes property in both Manhattan’s East Village and Santa Monica, CA; plus it owns a comic publishing company, children’s book publishing firm and private yacht. Recently it acquired three residential condominiums for $5.4 million in NYC’s East Village. Omar, 27, is working hard to re-establish his family’s presence in New York by investing in real estate with an eye towards making 5,000% profits on his investments.