In a strategic move that allows the partners to bring expanded resources to emerging real estate opportunities in Richmond, Virginia, and throughout Florida, Jan Burman, Steven Krieger, David Burman, and Jon Weiss have announced the formation of B2K Development.
“With several thousand new multifamily units being planned among multiple properties in Virginia and Florida it became obvious that we needed to create a new multi-state brand name and identity that would allow us to more effectively engage this expanding footprint,” explained Jan Burman, Chairman of the new company.
A natural evolution
The move reflects what company executives call the natural evolution of Engel Burman, one of the most successful developers of assisted living communities and rental and owned multifamily properties in the New York metropolitan area.
The most recent success story of B2K is their transformation of the long empty “Superblock” alongside the Long Beach boardwalk into a premiere 438 unit condo/rental residential complex that defines luxury being built directly along the Atlantic Ocean.
Long Island roots with national reach
Company president Steven Krieger reminded that while B2K will be conducting business in other states it will have a significant Long Island presence. “Long Island is our home and the very foundation of our development success. Our professional reputations were created here and there remain significant opportunities for our partnership. This move also provides us with far more flexibility to identify and build in areas of the country where there is exponential growth.”
Reflecting that commitment, B2K is also expected to announce a series of new development projects on Long Island in the coming months.
“Our team has demonstrated that community engagement, genuine compromise, and a commitment to construction excellence can convert an empty and economically barren piece of property into a residential project of enormous value to the city. We seek to replicate that success in other parts of the country through B2K Development,” stated company Principal David Burman who heads up all development activities.
A billion dollar investment
B2K principal Jon Weiss said, “We currently have projects on the drawing boards in Florida where several thousand real estate lots are under contract or with letters of intent. In Richmond, Virginia some 2,000 units are in contract and in the midst of an approval process. These properties alone represent a billion-dollar investment and this reflects just a portion of our development activity.”
Jan Burman observed, “It has been reported that there is a current need for the construction of an additional 4.3 million units of multi-family residences and some 40% of those dwellings will probably be built in three states including Florida and Virginia.
“In addition, over the years the B2K partners have owned millions of square feet of industrial and office buildings in Richmond, Virginia and southeastern Florida leaving them familiar with both markets. As a result, B2K comes to the market with vast experience in construction, public policy that governs development, and community affairs that often directs public policy. We have the means, skill, and resources to realize our potential to become a significant national company. B2K reflects that intent,” concluded Mr. Burman.
