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Posted: May 24, 2022
Daniel Figotin, Fimida Enterprises
Name: Daniel Figotin
Title: Principal
Company Name: Fimida Enterprises
What recent project, transaction or accomplishment are you most proud of?
Probably my last deal at the moment. We purchased four Queens buildings. Within the first 90 days we increased the rent roll by 20%, more than doubling our equity in both the apartments and retail units that were significantly below market and had COVID clauses that we brought back to market rents. We have a deep knowledge of the neighborhoods we are active in and a vision to reconfigure space to maximize rents. It is exciting to execute renovations and rehabs at a reasonable cost most often lower and faster than some of our competitors.
Who was/is your mentor and how did s/he influence/help you in your career?
Since I was eight years old, I accompanied my mother to collect rent from her tenants and met with contractors who worked in buildings she owned. This inspired me to go into the real estate business and so in 2011, I decided to work in real estate full time and founded Fimida. My mother, Mila, is my biggest inspiration. She came to the U.S. from Russia with nothing in her pockets and a one-year-old boy to take care of in her arms. Despite this hardship she managed to build a real estate business. She began by investing in two Williamsburg properties in the late 1980’s.
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