Crain’s New York editors included a Brighton Beach businessman making waves in the affordable housing industry in their highly respected “40 Under Forty” roundup.
Eugene Schneur is the managing director of Omni New York. The company buys and rehabilitates affordable housing units in the tri-state area, including numerous Section 8 buildings.
Schneur is no stranger to affordable housing. His family emigrated from the former Soviet Union when he was 7, and they moved into a Brighton Beach apartment complex where they used Section 8 vouchers to help pay the rent.
After spending six years practicing M&A and securities law, client and former Mets player Mo Vaughn proposed forming a real estate business using low-income tax credits and tax-exempt bond financing.
After spending $500 million on purchasing and revitalizing run-down and crime-infested apartment complexes, the 37-year-old Schneur garnered praise from editors at Crain’s in their recently released list of 40 rising business stars under 40 years old.
“We’re making money while doing good,” Schneur told Crain’s.