Margules founded Margules Properties, Inc. in 1992 to purchase and manage rent-stabilized apartment buildings in New York City. Since then, Margules has led the acquisition of 66 buildings in Manhattan, Brooklyn, Long Island, Jersey City and Miami Beach. He identifies and analyzes potential investment opportunities, negotiates all acquisitions and arranges the total capitalization of each acquisition through senior debt financing and equity for each LLC syndication. Margules maintains a network of over 200 investors, many of whom have invested in several Margules Properties syndications.
Margules continues his involvement in newly acquired properties by working to reposition the asset where appropriate in order to maximize revenue. His in-house management team is responsible for running the day-to-day operations of the existing properties and Margules oversees this process to ensure efficient and reliable maintenance and management to all buildings in the portfolio.
Margules is credited as an early pioneer in neighborhoods that were poised to grow and has done this over again with tremendous success. Neighborhoods such as Manhattan’s Midtown West, East Village, Chelsea and Lower East Side, once considered fringe areas, are now some of the most sought after areas of New York City.
Before founding Margules Properties, Eric Margules worked as an investment banker at Merrill Lynch and Kidder Peabody and as a real estate consultant. He holds an MBA in Real Estate and Finance from the Wharton School of the University of Pennsylvania and a BS in Computer Science from New York University.