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QC11132014

46 THE QUEENS COURIER • REAL ESTATE • NOVEMBER 13, 2014 FOR BREAKING NEWS VISIT www.queenscourier.com real estate Beechwood Organization’s Steven Dubb left, Michael Dubb right. Family Business: BEECHWOOD FOUNDER HANDS REINS TO SON BY VICTORIA SCHNEPS vschneps@queenscourier.com @vschneps When Michael Dubb was readying his thoroughbred horse for the Breeder’s Cup, he could never have dreamt he would come so far from his days making pennies mowing his neighbors’ lawns as a teenager 30 years ago. It’s been a great run, and now he has his son, Steven, in place to keep his respected, award-winning company, Beechwood Properties, prospering into the next century. His company grew organically over decades. But it started with Dubb’s entrepreneurship as a landscaper for his neighbors. Before he could drive, he bought a truck to handle all the customers he had accumulated as he expanded into the growing condo developments. He was doing work for a condo when he auspiciously met a banker who was working on a project where he needed the expertise Mike had developed. It was Spruce Ponds on Sheltor Rock Road, the fi rst of many million-dollar condos to line the roads of North Hills. It was to be Dubb’s fi rst of many projects under the Beechwood Properties label. The self-educated Dubb was always careful about making sure his projects made sense. He worries that today, hedge funds get involved in real estate deals with “no skin in the game” and often overpay for properties, causing problems and, eventually, crashes in the market. One of his keys to success is that his company has gone into neighborhoods that others were reluctant to pursue. Mike’s careful research and banking relationships for the properties he develops have turned them into winners. He speaks with pride of his project in the Rockaways, Arverne by the Sea. To support the homes and enhance the quality of life for the people who live there, he built a shopping center with a supermarket, a bank and even a juice bar where his son Steven is a partner. A YMCA also recently opened. Giving back is part of his business philosophy. He brought back the middle class to the unique waterfront 120-acre site, and now he is building 1,000 units with a goal of 2,300 condos in total. There is even a plan for a charter school to be built in the neighborhood. Arverne is now a vital oceanfront neighborhood and, as added value, Photo credit: Kathy Kmonicek brings in crowds every weekend to surf the waves. Building lifestyle communities has put Dubb ahead of the curve. But when he bought property in Westbury near the smoke stacks, many people doubted it could be successful. He proved them wrong. It’s so successful that it sold out. A new project in Southampton also sold out — 59 homes in the village. He seems to recognize where building opportunities exist. His formula for success? “Be humble,” he said. “Don’t get carried away with success. Respect people and never forget where you came from.” Dubb believes it is always possible to do more. Perhaps Long Island City may soon see his Beechwood brand too...


QC11132014
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