Barry Akrongold is chairman of Fortune Financial and Investment Corp., a real estate investment and development company that builds, manages and redevelops properties. Mr. Akrongold started his company in 1984 with the acquisition of a single cooperative apartment; today he owns a portfolio of properties including residential apartments, cooperative unsold shares, industrial warehouses, retail, and resort properties.
Mr. Akrongold has specialized in developing and implementing appropriate marketing plans and repositioning strategies for a full range of commercial, residential and industrial properties. Through Fortune Financial, Mr. Akrongold has utilized his own capital in financing the projects, and on occasion has syndicated projects with select private and institutional joint venture partners who, like himself, desire to own real estate for long-term appreciation and cash flow.
Fortune Financial specializes in developing and owning prime location properties situated in infill, urban, and suburban areas throughout the United States. Among other projects, Mr. Akrongold concluded gut rehabilitation and conversion of numerous apartment buildings to cooperative and condominium ownership representing approximately (700) units; building and operating the Seagate Beach Club, a 10 acre oceanfront resort in Brooklyn NY; the development of a 30,000 square foot residential and retail condominium project in Manhattan’s South Street Seaport, and ground-up construction of this landmarked site; the redevelopment of a 120,000 square foot former girls school into luxury apartments in Westchester County, NY.
Mr. Akrongold is a graduate of Franklin and Marshall College and the Harvard Business School. He began his career as a product manager at the Procter and Gamble Company. After leaving P&G, he founded a perfume company that was first to sell copies of the world’s most famous fragrances to the mass market, a category that today represents over 20% of the retail fragrance business.
Mr. Akrongold is involved in many charitable and community organizations. He is Chairman of the September 11 Victims of Terror Fund and serves on the board of Young Presidents Organization, where he is the president-elect for 2009. Mr. Akrongold also serves on the board of directors of the Washington Ballet. His business accomplishments have been featured in many business publications including Fortune, Forbes, and Business Week.