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Flagstar Bank, Community Banking Headquarters, 301 W. Michigan Avenue, Jackson, MI 49201 800-642-0039. Si 0.00 OFF WITH THIS AD Wood Rockers from '98.00 '168.00 Gliders from Child's Rockers from ...$48o00 Rocker Cushions & Accessories FREE LAYAWAY • WE SHIP ANYWHERE 21325 Telegraph, Southfield (Between 8 Et 9 Wir) (248) 948-1060 10/6 2000 36539 Gratiot Ave., Mt Clemens 3337 Auburn Rd., Auburn Hills (Seth et 16 Mk) (810) 790.3065 *Neat Adams $14are4 (248) 853-7440 WORLD ROCKER 4 v0Ausis father, Burton, who founded the busi- ness and is now semi-retired. The elder Farbman worked for a Chicago mortgage firm, then Schostak Brothers to help support the family after his father, a doctor, died at age 42. He partnered a company with Lee Stein, who passed away in the 1980s. The Farbmans moved into their cur- rent headquarters eight years ago and now have 300 employees. David Farbman started doing cleanup jobs as a youngster, then began "flipping" houses while in college — buying foreclosed homes, fixing them up himself, and selling them. After grad- uating from Berkley High School, and from Michigan State University with a degree in business and commerce, he worked for an appraisal firm to learn how to evaluate property. "The true test of a company's suc- cess is if management and employees have the ability to still be grinding by the end of a tough day," said Farbman, who is an avid bow-and- arrow hunter and owns a farm in northern Michigan. "The real grinders are the people who succeed." Soon to "grind it out" with Farbman will be his brother, Andrew, 25, who will join the company as executive vice president after gaining experience for a few years with Wall Street firms in New York. The Farbman Group boasts that it's a full-service organization, handling land acquisition, reconstruction work, evaluation, development, brokerage, sales, leasing, management, and assis- tance with tax benefits. "We do about $20 million a year in reconstruction work alone," said Farbman, "and the important thing is that we have the uncanny ability to know precise con- struction values, helping us to serve our clients' needs." Working In Detroit Among the Farbman Group's achieve- ments are the purchase and $30 mil- lion restoration and leasing of the his- toric Wayne County Courthouse building; developer of the 100 Riverfront Tower Apartments down- town; developer of a federal govern- ment building on Howard Street; part owner of the building housing the MGM Grand Casino; and renovator of 100 acres around the old General Motors plant on Clark Street. The Farbman Group's contribution to the mini-building boom downtown is Lofts @ Woodward Center Apartments, a $10 million project along Woodward between Grand River and Grand Circus Park — south of the Crosswinds Woodward Place in Brush Park. The 50 lofts, to be ready for occu- pancy this fall, range from a one- room, studio-style renting for $700 per month to a two-bedroom version on two levels (1,000 square feet) at $1,400 monthly. "They all have high ceilings, exposed duct work and a lot of brick," said Marti K. Sciturro, Farbman's director of residential mar- keting, "because that's what loft- dwellers want today. "About 60 percent of the calls from prospective tenants are from suburban residents who say they want to move downtown to enjoy the cultural activi- ties." Farbman spent $3 million renovat- ing an old building on Seward Street at Second Avenue in the New Center area, designed by famed architect Albert Kahn. The structure was trans- formed into Gramont Manor Condominiums. The 45 units range from 600 to 1,100 square feet and sell at $60,000 to $89,900. "We've sold more than 30 so far, mainly to Detroit apartment residents who want to purchase a condo to get some equity out of their home," Sciturro said. Hot Properties Farbman turned part of the old Parke Davis Pharmaceutical Building at the Stroh Riverplace complex on the Detroit River into 50 luxury condos. They range from 1,000 square feet at $190,000 up to 3,000 square feet at a lofty $500,000 — the price for units on the top floor with a real view, over- looking downtown. Called 200 River Place Condominiums, the project cost $12 million. "All 50 units were gobbled up quickly — and the people hadn't even seen the floor plans," Sciturro said. "When stories broke in the newspa- pers about this project, we received about 600 phone calls. And other people have paid $500 just to be on a waiting list in case anyone backs out." Adds Farbman, "It just proves what we've been saying all along ... people want downtown living spaces. We're offering them great places to live, and they're taking them. And the city couldn't make all of these great moves without the Jewish developers. "A big challenge for us is the cost of construction. The land owners see their property as having an extremely high value, and they hold on to the land much too long before selling,