Overview

Stephen R. Karp is a noted real estate entrepreneur based in United States. Entrepreneur Stephen is

 a leading developer of shopping centers and mixed-use developments. He is the past chairman and presently a member of the Board of Trustees of the International Council of Shopping Centers and member of the Greater Boston Real Estate Board and the Urban Land Institute.

With a fortune of worth $ 1 billion, entrepreneur was ranked 891 by the Forbes Magazine's 2007 list of world's billionaires. Stephen Karp is both the president and chief executive officer of New England Development, who is known as the largest taxpayer on the island. Stephen is a billionaire real estate entrepreneur

Business/Career

Real estate entrepreneur Stephen is known for building the first shopping mall during the 1960s, he has also founded New England Development 1978. Stephen has sold 14 malls of Simon Property Groups for $ 1.7 billion in the late 1990s.

After spending few years in making his way through BU by working summers in construction, property business entrepreneur Stephen convinced a real estate development firm which was his employer at that time to go with him on a shopping center in Danvers.

The first strings of 20 malls that he developed were the Liberty Tree Mall which he later sold for $ 1.75 billion. Property business entrepreneur Stephen owns chunks of commercial property in coastal Massachusetts town Newburyport and owns the CambridgeSide Galleria, much of downtown Nantucket where he has bought about $ 75 million worth of property.

Stephen has spent $ 38 million on commercial space on Newburyport. Stephen has invested $36 million buying up property in Newburyport through various different limited liability corporations. He then bought the property holdings of longtime Newburypoters Chuck and Ann Lagasse.

Stephen R. Karp considers both Nantucket and Newburyport a special kind and manages them differently from his mall areas.