Basketball Retiree Makes Real Estate Rebound

June 4, 2011  |  

(Wall Street) — It’s easy to see where Walt Frazier III got his passion for basketball: The one-time all-Ivy League point guard is the son of Walt “Clyde” Frazier, a Hall of Famer who led the Knicks to their only two NBA championships.  Less obvious is their shared interest in real estate. In this competitive arena, where sharp elbows fly more often than when power forwards scramble for a rebound, it’s the younger Mr. Frazier who is putting up promising numbers.  Walt Frazier III has bought or sold about a dozen properties in Chicago, where he started investing in real estate in 1995, he says. Last fall, he moved to New York after he and his father bought three Harlem penthouses on Lenox Avenue and 129th Street for $2.4 million.

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