Thomas Kramer
Encyclopedia
Thomas Kramer is a German real estate developer and venture capitalist noteworthy for his part in the redevelopment of South Beach
, Miami, Florida
. He is also a well-known high society figure and philanthropist, hosting charitable events at his Star Island
mansion. He recently appeared on The Real Housewives of Atlanta
, Murano Grande, and Yacht Club
he claims to have developed these while Related Group actually did the work and the Development on Thomas's land.
A bold lifestyle and his prior marriage to Catherine Burda, daughter of a well-known German publishing family, made him a regular feature of European press prior to his arrival in the United States. In addition, he was known as a colorful and controversial public figure in Florida.
He is strongly associated with the gentrification of South Pointe, South Beach. His role and the results have attracted broad praise and anti-development criticism.
. He initially attended Harvard College
, but left after deciding it was not to his liking. He took up a brokerage apprenticeship in London and became a licensed broker. He afterward joined his father's firm, before moving on to Shearson Lehman Brothers. He founded his own company in 1986, TK Kapitalverwaltung GmbH, through which he made his famous 1987 windfall.
Watch the documentary about Thomas Kramer
He afterward turned to the newly opened real estate market in former East Germany, perceiving an attractive entry opportunity. A flurry of negative press regarding the risks drove investors away. Kramer claimed that Franz Burda
opposed his marriage to Catherine and was the cause of the negative press. European press of the time was filled with speculation regarding the extent of Burda's vendetta.
, the southern tip of South Beach, for $45 million in the early 90s. There were many doubts about his experience and ability to attract investors.
His negotiations with the municipal government of Miami Beach were well-known and controversial. The deal allowed him to consolidate his holdings in a land swap. It also cleared zoning to allow the erection of the tallest buildings south of Manhattan
.
Prior to the spate of development kicked off by Kramer's high profile investments, South Pointe was known as a high-crime poverty-stricken area. It is now a hot living destination for the wealthy. Condominium units in the upscale high rises sell for millions. There are a number of vocal critics of the developments. The high-rise and high density buildings are derided as a "concrete jungle". However, even critics concede that the development has changed the area in a pedestrian friendly, low crime neighborhood.
The development area includes shops and pedestrian friendly designs. Progressive Achitecture reported that the design guidelines negotiated with the city included, "sidewalks lined with shops, condo front entrances at sidewalk level, view corridors between buildings, and a 50-foot baywalk for public access."
Kramer turned himself in to the FEC and immediately requested the refund of all political donations. The imposed fine was agreed upon as part of a voluntary conciliation agreement with the FEC.
Howard Glicken plead guilty to criminal charges arising from the circumstance. He admitted soliciting donations from Thomas Kramer when he knew that Kramer was a foreign citizen.
Thomas Kramer stated in his affidavit to the FEC, "I speak English with a German accent and I believe most people who know me realize I am German. Nevertheless, no one who solicited or accepted my candidate contributions ever asked me about my immigration status, advised me that it was illegal for me to contribute or rejected my political contributions because of my citizenship."
in recent years. The Thomas Kramer Foundation is his main charitable vehicle. He also regularly rents out his Star Island
mansion for charity events since he supports the payments to pay his taxes.
He is also known for the purchase of famous art pieces below expected prices. A famous example is his 1992 purchase of "Woman in an Armchair", painted in 1932 by Pablo Picasso
, for $2.86 million which was well below the expected price of $3.5 million to $4.5 million.
5 Star Island, is the current featured listing of the firm. TK Global Realty is a full service Real Estate Firm that caters to an International clientele offering agents in every major language.
Zachary Finn is the company's Real Estate Broker and CEO. Mr. Finn entered Florida’s real estate market in 2000 and became a top-producing agent for two of the Nation’s largest Real Estate conglomerates. He made the transition from real estate agent, to real estate broker with the introduction of Finn Real Estate Enterprises, the full-service real estate firm that he founded in 2005.
THOMAS KRAMER AND VARIOUS CELEBRITIES FROM PAST AND PRESENT -- View Gallery
Thomas Kramer - Company Profile
Thomas Kramer in New York Times
Thomas Kramer in Miami Herald
Charity Events
Donation List
Thomas Kramer's Official Webpage http://thomaskramer.com
TK Global Realty http://www.tkglobalrealty.com
5 Star Rental http://www.5-star-island.com
South Beach
South Beach, also nicknamed SoBe, is a neighborhood in the city of Miami Beach, Florida, United States. It is the area south of Indian Creek and encompasses roughly the southernmost 23 blocks of the main barrier island that separates the Atlantic Ocean and Biscayne Bay.This area was the first...
, Miami, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
. He is also a well-known high society figure and philanthropist, hosting charitable events at his Star Island
Star Island
Star Island is one of the Isles of Shoals that straddle the border between New Hampshire and Maine, seven miles from the mainland in the Atlantic Ocean. Star Island is the largest of the four islands in the group that are located in New Hampshire...
mansion. He recently appeared on The Real Housewives of Atlanta
The Real Housewives of Atlanta
The Real Housewives of Atlanta is an American reality television series on the Bravo cable network that premiered in the fall of 2008. Following the format of its predecessors , in 2009 the Atlanta series was not only the highest rated show of the The Real Housewives of... franchise, it was the...
Reputation
Haute Living credits Kramer's development efforts for "transform[ing] the once-blighted community [South Beach] into a sophisticated, world-class destination." A list of prominent examples include Apogee, Portofino TowerPortofino Tower
Portofino Towers is a highly affluent residential enclave tower /skyscraper in Miami Beach, Florida. South Beach. It is located on the southern extremity of the city overlooking Government Cut. Portofino, which opened in 1997, is 484 ft tall and contains 44 floors...
, Murano Grande, and Yacht Club
Yacht club
A yacht club is a sports club specifically related to sailing and yachting.-Description:Yacht Clubs are mostly located by the sea, although there are some that have been established at a lake or riverside locations...
he claims to have developed these while Related Group actually did the work and the Development on Thomas's land.
A bold lifestyle and his prior marriage to Catherine Burda, daughter of a well-known German publishing family, made him a regular feature of European press prior to his arrival in the United States. In addition, he was known as a colorful and controversial public figure in Florida.
He is strongly associated with the gentrification of South Pointe, South Beach. His role and the results have attracted broad praise and anti-development criticism.
Early life
Thomas Kramer grew up the son of a Frankfurt stockbroker. He reputedly made his first stock trade by telephone at the age of 14. He attended the Salem Boarding School on the shores of Lake ConstanceLake Constance
Lake Constance is a lake on the Rhine at the northern foot of the Alps, and consists of three bodies of water: the Obersee , the Untersee , and a connecting stretch of the Rhine, called the Seerhein.The lake is situated in Germany, Switzerland and Austria near the Alps...
. He initially attended Harvard College
Harvard College
Harvard College, in Cambridge, Massachusetts, is one of two schools within Harvard University granting undergraduate degrees...
, but left after deciding it was not to his liking. He took up a brokerage apprenticeship in London and became a licensed broker. He afterward joined his father's firm, before moving on to Shearson Lehman Brothers. He founded his own company in 1986, TK Kapitalverwaltung GmbH, through which he made his famous 1987 windfall.
Watch the documentary about Thomas Kramer
Life in Germany
Thomas Kramer originally came to prominence as a stock speculator. He correctly predicted a sharp downturn in October 1987. German newspapers reported that he made approximately $30 million in profit.He afterward turned to the newly opened real estate market in former East Germany, perceiving an attractive entry opportunity. A flurry of negative press regarding the risks drove investors away. Kramer claimed that Franz Burda
Franz Burda I
Franz Burda was a German Publisher and a founder of Hubert Burda Media.- Life and Work :...
opposed his marriage to Catherine and was the cause of the negative press. European press of the time was filled with speculation regarding the extent of Burda's vendetta.
South Beach redevelopment
Thomas Kramer's entry into the Miami real estate market met with mixed opinions. He purchased large portions of South PointeSouth Pointe
South Pointe is the name of the following locations:*South Pointe Drive – Frenchman's Creek Bridge, in Grosse Ile, Michigan*South Pointe High School *South Pointe High School...
, the southern tip of South Beach, for $45 million in the early 90s. There were many doubts about his experience and ability to attract investors.
His negotiations with the municipal government of Miami Beach were well-known and controversial. The deal allowed him to consolidate his holdings in a land swap. It also cleared zoning to allow the erection of the tallest buildings south of Manhattan
Manhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
.
Prior to the spate of development kicked off by Kramer's high profile investments, South Pointe was known as a high-crime poverty-stricken area. It is now a hot living destination for the wealthy. Condominium units in the upscale high rises sell for millions. There are a number of vocal critics of the developments. The high-rise and high density buildings are derided as a "concrete jungle". However, even critics concede that the development has changed the area in a pedestrian friendly, low crime neighborhood.
The development area includes shops and pedestrian friendly designs. Progressive Achitecture reported that the design guidelines negotiated with the city included, "sidewalks lined with shops, condo front entrances at sidewalk level, view corridors between buildings, and a 50-foot baywalk for public access."
FEC fine
Kramer was subjected to a record fine for an individual from the Federal Elections Commission. He donated to political candidates as a foreign citizen. This is illegal under United State campaign finance laws. Kramer contacted his lawyers and the FEC immediately upon discovering his contributions were illegal via an article in the Tampa Tribune. He reported being previously unaware of the prohibition and noted that he is a very prominent, public figure known to be a German citizen.Kramer turned himself in to the FEC and immediately requested the refund of all political donations. The imposed fine was agreed upon as part of a voluntary conciliation agreement with the FEC.
Howard Glicken plead guilty to criminal charges arising from the circumstance. He admitted soliciting donations from Thomas Kramer when he knew that Kramer was a foreign citizen.
Thomas Kramer stated in his affidavit to the FEC, "I speak English with a German accent and I believe most people who know me realize I am German. Nevertheless, no one who solicited or accepted my candidate contributions ever asked me about my immigration status, advised me that it was illegal for me to contribute or rejected my political contributions because of my citizenship."
Philanthropy and collecting
Thomas Kramer has become known as a philanthropistPhilanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
in recent years. The Thomas Kramer Foundation is his main charitable vehicle. He also regularly rents out his Star Island
Star Island
Star Island is one of the Isles of Shoals that straddle the border between New Hampshire and Maine, seven miles from the mainland in the Atlantic Ocean. Star Island is the largest of the four islands in the group that are located in New Hampshire...
mansion for charity events since he supports the payments to pay his taxes.
He is also known for the purchase of famous art pieces below expected prices. A famous example is his 1992 purchase of "Woman in an Armchair", painted in 1932 by Pablo Picasso
Pablo Picasso
Pablo Diego José Francisco de Paula Juan Nepomuceno María de los Remedios Cipriano de la Santísima Trinidad Ruiz y Picasso known as Pablo Ruiz Picasso was a Spanish expatriate painter, sculptor, printmaker, ceramicist, and stage designer, one of the greatest and most influential artists of the...
, for $2.86 million which was well below the expected price of $3.5 million to $4.5 million.
Current
Thomas Kramer partnered with Florida Real Estate Broker, Zachary Finn in September 2011 to found TK Global Realty - a full service Real Estate Brokerage firm that is a Florida Registered LLC. The firm was founded to service buyers, sellers and investors of real estate within Miami Beach and the Greater Miami Area. The firm represents a wide range of real estate from waterfront estates to beachfront condos, it specializes in the sale and purchase of luxury condominiums located in South Pointe and the exclusive and private mansions and estates of Star Island.5 Star Island, is the current featured listing of the firm. TK Global Realty is a full service Real Estate Firm that caters to an International clientele offering agents in every major language.
Zachary Finn is the company's Real Estate Broker and CEO. Mr. Finn entered Florida’s real estate market in 2000 and became a top-producing agent for two of the Nation’s largest Real Estate conglomerates. He made the transition from real estate agent, to real estate broker with the introduction of Finn Real Estate Enterprises, the full-service real estate firm that he founded in 2005.
THOMAS KRAMER AND VARIOUS CELEBRITIES FROM PAST AND PRESENT -- View Gallery
Thomas Kramer - Company Profile
Thomas Kramer in New York Times
Thomas Kramer in Miami Herald
Charities
As the visionary pioneer who helped shape the development of South Pointe, Thomas Kramer is a prominent fixture in Miami’s business community, as well as an active participant in Miami’s cultural and philanthropic events. Thomas Kramer is a noted philanthropist and through the Thomas Kramer Foundation, Inc. has contributed to many local and national charities, such as the Make-A-Wish Foundation, Kristi House, and the Red Cross, among others. He often donates the use of his Star Island estate for charity events, like the 2006 “Give a Lift for Paralysis Benefit” gala hosted by Paris & Nicky Hilton, and to Alonzo Mourning’s associated foundation events.Charity Events
Donation List
Websites
Thomas Kramers Official Blog http://www.worldoftk.comThomas Kramer's Official Webpage http://thomaskramer.com
TK Global Realty http://www.tkglobalrealty.com
5 Star Rental http://www.5-star-island.com
See also
- Luxury housing
- Real estate developmentReal estate developmentReal estate development, or Property Development, is a multifaceted business, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of improved land or parcels to others...
- GentrificationGentrificationGentrification and urban gentrification refer to the changes that result when wealthier people acquire or rent property in low income and working class communities. Urban gentrification is associated with movement. Consequent to gentrification, the average income increases and average family size...
- Rent Thomas Kramer's House for Events
- Thomas Kramer's Recommendations for What to do in Miami