NYC real estate
fromHoodline
6 days agoBistricer's 99Unit Plan at 1800 Park Ave in East Harlem
Developer David Bistricer plans seven 99-unit residential buildings on East Harlem's 1800 Park Avenue to avoid labor regulations triggered at 100 units.
That contrarian bet led to the founding of Auro Travel, now Spain's largest fleet operator for private hire vehicles. What began as a license-acquisition play has grown into a company that attracted buyout offers reportedly worth €200 million from both Uber and Cabify in late 2022. The journey offers a case study in how regulatory arbitrage, executed with patience and precision, can create substantial enterprise value.