When it comes to building condominiums, Sam Mizrahi is going above and beyond to create luxurious lifestyles Torontonians have become accustomed to.
Sam Mizrahi is the president and founder of Mizrahi Developments, a private real estate development company in Toronto that specializes in building custom, high-end residences, while focusing on attention to detail, craftsmanship, and architectural distinction. In 2015, he was named the 45th most influential person in Toronto by Toronto Life.
What is Sam Mizrahi’s net worth?
Sam Mizrahi’s net worth is estimated at $200 million. He has been in the real estate industry since around 2007. Mizrahi’s career in real estate first began when he took an interest in urban planning and sought out lucrative land investment opportunities in the Richmond Hill and Oak Ridges areas of Toronto. Mizrahi’s net worth climbed when he and his team began constructing The One, a billion-dollar supertower to be located at the intersection of Yonge and Bloor Streets in downtown Toronto. Once completed, The One will be Canada’s tallest residential and retail tower and also the country’s first supertall (300+ m) skyscraper and will feature a mix of commercial and retail space. Mizrahi hired the London-based Foster and Partners to help design the luxury building.
Mizrahi started his first company, Unimax, in high school. The company imported and sold blank audio and video cassette tapes in Toronto and Montreal. In 1992, Mizrahi formed a dry cleaning company, Dove Cleaners, and ran it until 2007, when he shifted his focus on developing real estate projects.
The success of his first projects led him to found Mizrahi Developments with a desire to enhance the changing streetscapes of Toronto, especially in the luxury condominium market.
Mizrahi Development Projects
In an interview with the Ottawa Citizen, Mizrahi said not only is attention to detail at the forefront of each one of Mizrahi Developments’ projects, but so is his love of history. Influenced by his travels to Paris and Italy, his connection to the past and architectural beauty is one that influences Mizrahi’s own creativity.
Besides his most notable project, The One, another luxury condominium project in development is 1451 Wellington, located in Ottawa at the edge of Westboro at the corner of Island Park Drive and Wellington West. The condominiums at 1451 Wellington are to be built with the precision, attention to detail and craftsmanship that Mizrahi Developments is known for.
Value of Mizrahi Development Projects
Sam Mizrahi is the controlling shareholder of Mizrahi Developments. Mizrahi Developments’ current projects at The One, 1451 Welltington, and 128 Hazelton, as well as past projects, make the value of the company approximately $300 million. Real estate experts value his share at $200 million. Mizrahi’s stake in The One building eclipses the combined value of his other real estate projects and is the largest source of his wealth.
Sam Mizrahi’s Attention to Detail
Mizrahi told Toronto Life that he’s tired of watching an overabundance of cheaply built condos going up that all look the same. He said it’s all about attention to detail.
He says: “If you have quality-control issues, you’re just not paying attention to those details. I’m somewhat of a micromanager. I get very passionate about the details. I’m involved in everything, right down to the colour of the mortar that goes in the brick, right down to the caulking colour, right down to the details of the hinges on the doors. Most of the time they’re formula-built buildings. I’ve found that very few buildings have soul to them.”
Outside of his career, Sam Mizrahi is a philanthropist and sits on the boards of organizations like the Friends of Simon Wiesenthal Centre, United Jewish Appeal and B’nai Brith of Canada.