lewis Friedman, PHD.

Lewis Friedman has been involved in New York City Real Estate for over 40 years. He purchased his first property in the depths of New York City’s financial crisis in the early 1970’s with the residential conversion of commercial loft buildings. He then focused on the ownership of apartment buildings in the East Village and the Morningside Heights neighborhood adjacent to Columbia University.

Mr. Friedman has hands-on experience in almost all aspects of residential property ranging from the gut rehabilitation of vacant shells to the conversion of rent regulated rental buildings to co-op status. As President of Merlon Management Corporation, he had direct decision making authority over all financing and capital raising activities; acquisition and disposition of properties; institutional and investor relationships; apartment leasing and tenant relations; a staff of eight people; and all other management activities for the operations of over 1,200 New York City apartments.   The portfolio of close to 60 individual properties was sold in its entirety in early 2006. 

Dr. Friedman’s academic career included the publication of a scholarly book, numerous journal articles and reports in public sector budgeting, financial management and analysis. He has consulted with public sector and nonprofit organizations. For over twenty years he served as The Educational Director of The National Urban Fellows program (NUF Inc.) for Baruch College in addition to teaching graduate classes in the MPA Program.   Dr. Friedman retired as a tenured faculty member in 2003.



Michael grew up in the real estate industry working and managing his family properties: 2 buildings in Greenpoint on Manhattan Ave. and 1 building in Manhattan’s west village. The buildings were all mixed use and totaled 12 residential and 4 commercial units. 

Michael worked at Wonder Works construction as a site super and fully honed his skills in construction management. He was responsible for running large New York residential and commercial construction job sites and coordinating all of the trades.  After Wonder Works, Michael took over his family property portfolio and used his strong command of construction management and planning to redevelop the residential and commercial units, increasing revenues and portfolio valuation.  

Michael has also done renovation work and property management on outside properties as well.   He has a keen eye for design and can deliver quality construction at a reasonable price.   Projects have included residential and commercial build outs with multi-million dollar budgets. In addition to his construction activities, Michael has created two successful bars and a coffee shop that currently generate revenue in excess of $3 million annually.   He remains an owner of these businesses but has passed on the daily operations to other partners to focus on building a large real estate portfolio.   Michael received a Bachelor’s degree from Boston University.  



Alex Ludwig is a senior real estate and finance professional with a long track record of leading successful transactions. Mr. Ludwig’s over 20 year career in real estate and finance has given him extensive experience in all aspects of commercial and residential real estate development. Mr. Ludwig has also raised millions of dollars of bank financing and equity capital for multiple real estate transactions.

Mr. Ludwig has been intricately involved with numerous development projects  in his capacity as a founding partner and COO/CFO of ADG Capital LLC, a $400 million New York based boutique real estate Development Company with a multi‐national project portfolio. Projects emphasized design‐forward urban lifestyle and included the award winning 272 unit Loft 5 project in Las Vegas, a 30 unit luxury residential tower in Soho, NY, a 1,500 unit middle market housing project in China, and Waterberg – a 15,000 acre golf and game reserve in South Africa.

Before forming ADG, Mr. Ludwig was an investment banker at Societe Generale, where he co-managed the secondary distribution efforts for a multi‐billion‐dollar loan portfolio through innovative structured finance transactions. He also advised major multinational corporations on debt and corporate finance structures.

Mr. Ludwig has also been involved in the restructuring of numerous distressed real estate transactions and the leadership of multiple private and public real estate investment companies.  Mr. Ludwig began his career working in several large commercial banking institutions, where he honed his corporate finance and business skills, creating financing solutions for a variety of corporate clients. Mr. Ludwig received a BA degree from the University of Pennsylvania.