David E. Marx, Owner / Chief Executive Officer
Mr. Marx is an attorney and a real estate developer in New York City. Over the last 30 years, Mr. Marx has developed properties valued at almost half a billion dollars, with many of these properties continuing to be owned and managed by his various real estate entities. In addition to these entities, Mr. Marx owns the construction firm Atria Builders, LLC and the architectural design firm DSM Design Group. As part of the Marx Development Groups holdings, Mr. Marx owns the federally regulated HUD Mortgage Lender, Rockhall Funding Corp. that has generated loans of more than $700,000,000. Mr. Marx's real estate developments are quite diverse and include a wide spectrum of the market place. Developments include healthcare, assisted living facilities, middle income to luxury residential complexes and educational institutions.
Mr. Marx's development endeavors have fostered long lasting financing relationships in the public and private sectors. On the public side, these relationships include the U.S. Department of Housing and Urban Development (HUD), New York City's Housing Development Corporation (HDC) and the New York Community Preservation Corporation (CPC). His relationships in the private lending arena include but are not limited to Banco Popular, Washington Mutual, Dime Savings Bank, The Berkshire Bank. A major portion of the almost two million square feet of real estate development and construction Mr. Marx has completed in the New York City area includes skilled nursing homes and assisted living facilities. The development of these particular type projects are considered unique by most real estate development standards in that Mr. Marx purchased the properties, obtained the necessary zoning and community board approvals, designed the architectural and structural aspects of each in-house, constructed the buildings using in-house management and certain labor trades and now owns the finished product. While the nursing homes are leased to New York State Certified Nursing Home Operators, the assisted living facilities are operated by a Marx management company. Each of these types of development is financed by HUD through Mr. Marx’s mortgage lending company. The development approach described above is also implemented in a similar fashion for other properties and each is adjusted to meet the dynamic aspects of the residential and educational/institution market places. Mr. Marx earned his Bachelor of Science in Economics from Queens College –CUNY as well as his Juris Doctorate from Fordham University School of Law before being admitted to the New York State Bar. Mr. Marx serves on the Board of Directors for a prestigious private elementary school and is the lead advisor to its $30,000,000 campus upgrade. Mr. Marx is well respected and an active member in his local community specifically spending free time guiding religious and educational groups.
David N. Slifkin, Chief Executive Officer - Divisional
David Slifkin is the Chief Executive Officer of Boulevard Health Management, LLC. Prior to joining the company, he was the CEO of Personal Touch Home Care and its insurance subsidiary Integra Managed Long Term Care. Combined these entities service 12,000 patients on a daily basis and maintain a workforce of 16,000 employees. Over a 25-year period Mr. Slifkin transformed the company from a local $39 million establishment to a national provider with over $500 million in revenue. He navigated the organization through a complex regulatory environment and maintained profitability in substantially every quarter since joining the organization; he also engineered an $85 million refinancing facility for the company. Prior to this he held Senior management positions in several other health related organizations including NASDAQ-Traded Home Health Care Companies. Utilizing the skills developed over the last 35 years including evaluating business opportunities, negotiating and integrating acquisitions, developing start-up operations, obtaining necessary financing, installing management information systems, hiring senior staff and building a successful management team focused on success, David Slifkin will guide Boulevard Health Management, LLC. in becoming a market leader. His commitment has and always will be to create an organization that provides the highest level of care to its patients. Mr. Slifkin is a certified public accountant and has received numerous awards for his contributions to the communities he has serviced.
Moshe Spitz, Chief Financial Officer of Boulevard Health Management, LLC
Moshe Spitz is the Chief Financial Officer of Boulevard Health Management, LLC. Prior to joining the organization, he was the controller for Citadel Care Centers for 5 years, which owns and operates a large property of skilled nursing facilities. Prior to that, he worked for Ernst and Young, LLP., and RSM US LLP. as an Audit Manager. Moshe Spitz brings to the organization a wealth of experience in structuring, designing, and managing the finances of the organization particularly as it relates to high growth operations. He is responsible for directing the financial operation of the company including the accounting functions, cash management, and oversees the day-to-day process of the outsourced Accounts Receivable / Billing company. Moshe Spitz has a MBA from Rutgers University and is a Certified Public Accountant.
Tom Xavier, Chief Operating Officer - Endeavor Hospitality Group
As Chief Operating Officer for Endeavor Hospitality Group, a premier hotel management company located in New York City, Tom Xavier is responsible for asset management, new asset development, and overall operations and performance for Endeavor Hospitality Group properties. With three decades of hospitality experience, Xavier has demonstrated his commitment to excellence in leadership roles with world-class hotels and resorts in destination markets across the United States including Gaylord Opryland Resort in Nashville, MGM Grand Casino Resort in Las Vegas, Renaissance Las Vegas, the largest non-gaming resort in Nevada, the Luxe City Center Hotel and Sheraton Gateway, in Los Angeles. A graduate of the University of Denver, Xavier is an adjunct professor for the University’s hospitality program.
Edward M. Grunwald, Executive Vice President, Construction - Atria Builders
Mr. Grunwald is a seasoned construction industry professional with more than 30 years of experience in projects along the U.S. eastern seaboard down to the Caribbean Islands. He has held senior positions as Construction Manager and General Contractor within a wide range of market sectors including, governmental institutions, healthcare, residential, commercial retail, hospitality/entertainment, transportation and technology. Mr. Grunwald has served in the capacity of Senior Vice President for Atria Builders, LLC for the past 17 years and has managed more than $200,000,000 in construction projects during his tenure. Mr. Grunwald was Atria Builders’ first employee and facilitated its growth over the years to include 22 in-house management and administrative employees as well as over 225 field-assigned project managers, supervisors and trade labor at its building peak. Before joining Atria Builders, Mr. Grunwald was the Project Planning Director and a Project Manager for Morse Diesel International and was assigned to the $1.4 billion JFK Airport International Arrivals Building at Terminal #4. The replacement of the existing Terminal #4 was performed in phases while the existing terminal remained operational. Mr. Grunwald coordinated the many Project participants that included the New York/New Jersey Port Authority, the Terminal Operator, the Design Team, Airline Tenants and the Contractors who at the peak of construction manned the site with more than 1,200 tradesmen per day. Prior to the Airport work, Mr. Grunwald served as Vice President of Construction Management for the New York-based Tri-Tech Group. In this capacity, Mr. Grunwald was responsible for marketing and the construction management of projects primarily along the east coast that included the renovation of State Houses in Massachusetts and New Jersey, the New Research Building at Rockefeller University in Manhattan, the Mohegan Casino and Resort in Connecticut, the Peabody Hotel and Office Tower in Memphis Tennessee, the IL Villaggio at South Beach in Miami Florida and the second phase of the Atlantis Resort and Casino on Paradise Island in the Bahamas. Mr. Grunwald earned his Bachelor of Science in Architecture from New York Institute of Technology as well as a Construction Management Certification from Polytechnic University. Mr. Grunwald has served on the Career Advisor Board for New York Institute of Technology and continues to serve on the Board of Directors for the Long Island Ice Hockey Club. Mr. Grunwald also sets time aside to coach young ice hockey players and little league baseball clubs.
Thomas Vellis, Chief Investment / Financing Officer - Marx Development Group
Thomas Vellis joined Marx’s Development Group as Chief Investment/Financing Officer in January, 2023. His responsibilities include Investment Strategies and Financing needs consisting of conventional banking, HUD, Fannie Mae, Freddie Mac, etc. He will also be involved in certain operational and managerial aspects of the Marx Development Group. During his near 30 year accounting career in Healthcare and Senior Housing, holding multiple C-Suite Positions, Tom specialized in Real Estate Financing, Acquisitions and Operations, Construction Development, Financial Reporting including GAAP Auditing and Tax work, and Risk Management, Tom is very accomplished in spearheading and navigating a profitable financial strategy, including consistent annual increases, even in depressed markets. He earned a Bachelor degree in Business with a concentration in Accounting from Montclair State University in 1996.
Yehuda Fishman, C.P.A
Mr. Frishman currently serves as the CFO for the Marx Development Group, whose holdings include a federally regulated HUD Mortgage Lender, an Assisted Living Facility, real estate development, and property management companies. In addition, Mr. Frishman serves as the Comptroller for Atria Builders, LLC, the construction arm of the Marx Development Group as well as its architectural design firm, DSM Design Group. Using the latest technology in accounting software, Mr. Frishman manages these entities and his staff of accountants and bookkeepers to guide the diverse holdings of the Marx Development Group to proactive financial forecasting and success. Mr. Frishman has instituted weekly in-house management meetings with all top managers and executives in attendance to review the status of each of their departments and when necessary institutes corrective procedures to ensure financial health for each. Mr. Frishman’s accounting and management methods enable him to report on a regular basis to not only the principles of the Marx Development Group but also to Governmental Agencies, Bank Executives and Board Members as well as several sophisticated auditors. Organizing and monitoring the financial status and future of the Marx Development Group is his responsibility and it is fulfilled in a professional manner. Before joining the Marx Development Group in 2002, Mr. Frishman planned and performed audits and financial reviews of significant and varying businesses however focusing on government-funded healthcare facilities that were not-for-profit as well as for–profit. Mr., Frishman established staff requirements and prepared and reviewed financial statements, evaluated internal controls, and prepared Management Letters to the Board of Directors for review and business decisions. These efforts were performed while under the employ of the high-profile accounting firms of Ernst & Young and Loeb Troper in New York City. Mr. Frishman graduated from Queens College – CUNY Magna Cum Laude with a Bachelor of Arts in Accounting with High Honors and was the recipient of the McGraw-Hill Accounting Award of Excellence. In addition to Mr. Frishman’s daily duties described above, Mr. Frishman serves as the Financial Overseer of the $30,000,000 campus upgrade of a prestigious private elementary school and reports regularly to the school’s Board of Directors. Mr. Frishman is active in local community activities and contributes free time to educational and religious events.
Winnie Ng, Chief Executive Officer - Manhattan Regional Center
Attorney Ng is the Chief Executive Officer (CEO) of the Manhattan Regional Center (MRC) and the Chief Counsel of MRC’s associated projects. Attorney Ng directs the affairs of MRC and works closely with securities and immigration counsels in an effort to ensure that MRC and its associated projects are compliant with current EB-5 and securities laws and regulations. Attorney Ng frequently participates in panel discussions, speaks at conferences and seminars, and conducts EB-5 training in the United States and overseas. She has also authored and co-authored various articles on EB-5 and EB-5 related topics. She is a firm believer and advocate of increased transparency at all levels in the EB-5 process, especially in the path and usage of EB-5 funds, to eliminate bad actors in the industry and to assist investors achieve immigration and investment success.