Welcome to the ADCO Group

The seeds of ADCO’s vitality and strength were born in the professional achievements of its
Founder and Chairman.

Chairman's Biography

Alvin Dworman is Chairman
and Founder of ADCO


Alvin Dworman is Chairman and Founder of ADCO, a full-service merchant banking and real estate company. Throughout his career, Mr. Dworman has excelled using an entrepreneurial approach, teaming up on a project basis with other prominent businessmen, acquiring controlling interests in a number of public and private companies, and creating several innovative and very successful enterprises.

 

Active in all phases of the real estate industry, Mr. Dworman has developed, owned, and operated commercial, residential, and industrial properties across the United States and Europe. Through lending affiliates, he has financed numerous major projects for other real estate developers and investors with equity participation.

 

With the creation in the 1960's of Great Universal Development Company (a private company) and the acquisition of the Franchard Corporation and then The Mastan Company (both public companies), ADCO became an important source of funding for other real estate investors and developers in addition to structuring its own projects. In the 1970's, Alvin Dworman merged Franchard, Mastan, and the public Lee Tire and Rubber Company to form Lee National Corp. which was subsequently privatized. Both Lee and Great Universal remain active ADCO affiliates.

 

Among his achievements are: the development and ownership of Bacara Resort & Spa, a $300 million resort and spa in Santa Barbara, California; the development and construction of 80th at Madison, a 28-story, super-luxury condominium in New York City; and Museum Parc, an architecturally distinguished 15-story condominium overlooking Moscone Center in San Francisco. Also in San Francisco, at 201 Third Street, Mr. Dworman built Convention Plaza, a 314,000 sq. ft. office building, owning 50% of the building upon completion and acquiring 100% of it in 2006. In Colorado, Mr. Dworman purchased from Exxon and further developed the city of Battlement Mesa.

 

Currently, Mr. Dworman is preserving and repositioning the landmark Western Merchandise Mart, which he acquired in 1968, and creating Market Square, a multi-use development in the heart of San Francisco featuring 890,000 sq. ft. of high-tech commercial space and an exceptional 200,000 sq. ft. of retail area. Also in San Francisco and anticipated to be ready for occupancy in 2014, Mr. Dworman will build an elegant 35-story residential tower, 1481 Post Street, opposite St. Mary's Cathedral. In Santa Barbara, Mr. Dworman looks forward to creating two projects: the Bacara Completion Phase, 56 eco-friendly lodging units overlooking the Pacific Ocean adjacent to Bacara; and Tecolote, the reconfiguration of a 1,050-acre ranch where 94% of the land will be preserved in perpetuity as wilderness and agricultural cultivation and the remaining 6% of the acreage will accommodate 26 secluded estate home sites. In Philadelphia, Mr. Dworman is restoring and upgrading a landmark, 757-unit, residential, hi-rise rental complex, Alden Park. He is also developing affordable housing in the Bronx along the East River: Harbor Pointe at Shorehaven and adjacent Beechwood at Castle Hill, featuring a total of 1,199 two-family homes - one dwelling for the homeowner and the other to rent. Over 1,000 of these units have already been sold and the remaining units will be delivered to home owners over the next 15 months. Mr. Dworman is also planning affordable housing in San Francisco in cooperation with Jones Memorial United Methodist Church.

 

Alvin Dworman’s outside interests include sports and a zeal for physical fitness. He is an expert skier, avid cyclist, and enthusiastically enjoys ocean kayaking. During his formative years, Mr. Dworman was an outstanding athlete and received All-City honors for football at Abraham Lincoln High School in New York City. Immediately upon graduation, he enlisted in the U.S. Army and received two years of college credit for his three years of military service. Utilizing college credits and the G.I. Bill of Rights, Mr. Dworman entered New York Law School without a college degree. While attending law school, his penchant for real estate began when he convinced the owners of the Sunnyside Boxing Arena in Queens, New York, to let him use the facility during off-hours to run a flea and farmers’ market. Also at this time, Mr. Dworman created the Jackie Robinson Barnstorming Team, a pioneering baseball tour that initiated the first integrated baseball games throughout the southern United States.

 

Mr. Dworman also supports many charitable endeavors with particular emphasis on medical research and education. Most notably, in conjunction with the Psychiatry Department of NewYork-Presbyterian (the University Hospital of Columbia and Cornell) and the Weill Cornell Medical College, Mr. Dworman founded the Depression and Personality Disorder Research Program (DPD) and established the Alvin Dworman Clinical Scholar Award in Borderline Personality Disorder. Under the leadership of Dr. Otto Kernberg, DPD's focus is the intensive study of a most difficult depressive illness, borderline personality disorder (BPD). Mr. Dworman's scholarship is an endowment fund that will be used in perpetuity for the benefit of the medical college’s continued research, treatment, and education about
this illness.

 

A member of the New York State Bar, Alvin Dworman was a trustee of his alma mater, New York Law School (NYLS), for more than 20 years and has been honored by NYLS with both the Distinguished Alumnus and Lifetime Achievement Awards. In addition, Mr. Dworman served for more than two decades on the Real Estate Advisory Committee of the New York State Employees' Retirement System and continues his 20-year tenure as a trustee of
New York State's Governor's Committee on Scholastic Achievement.