Allan Domb Net Worth – A Look at His Real Estate Business

Whether you are interested in learning more about Allan Domb’s net worth or if you have an interest in real estate, this article has plenty of information about his real estate business, including a look at his business acumen, his social media accounts, and more. There’s even a look at some of the L&I violations that have affected his properties.

Business acumen

During his tenure on the Philadelphia City Council, Allan Domb has gained a reputation as a real estate entrepreneur, investor, and developer. The self-made man has earned unwavering praise from his peers for his efforts to help the community.

As a candidate, Domb has worked to improve education and job opportunities for Philadelphia residents. He has also focused on reducing the poverty rate and ensuring public safety. He has pledged to provide practical solutions to issues like gun violence. He has also supported initiatives to increase educational opportunities for incarcerated people.

Domb’s resume includes nearly 40 years of experience in the real estate industry. He worked as a real estate broker and investor, focusing on the budding condo market in Philadelphia. He has a seat on nearly half a dozen condo boards. In 2016, he purchased a 19-story office building in Center City.

Domb is the former president of the Philadelphia Board of Realtors political action committee. He also serves on the city’s Committee on Fiscal Stability and Intergovernmental Cooperation. He has worked with many nonprofit organizations to provide financial literacy courses and community-based programs.

During his time on the city council, Domb has helped pass the Wage Tax Credit Bill, which helps the city’s lowest income earners receive tax refunds. He also helped spearhead the effort to increase payroll tax refunds for low-income Philadelphians. He has also advocated for additional sanitation and security in downtown Philadelphia.

Domb has also fought the city’s promise to collect delinquent property taxes from out-of-state property owners. He has also sought funding from the Pennsylvania Emergency Management Agency and the Federal Emergency Management Agency to provide social services for the homeless and drug addiction services.

Social media accounts

Amongst the many people who have announced their intention to run for the mayor of Philadelphia, Allan Domb stands out among the pack. The real estate tycoon has been at it for nearly 40 years, earning himself a place in the pantheon of the city’s most prolific real estate tycoons.

For one thing, he’s a Democrat. For another, he’s one of the most well-funded candidates in the race. He’s earned accolades for his hiring practices and his management of 10 ShopRite stores in the Philadelphia area.

He also boasts a net worth that is not for the faint of heart. However, Allan Domb’s decision to retire from his post as an at-large member of the City Council to pursue a full-time law practice isn’t exactly a slam dunk. Despite his financial security, his family frequently faced eviction. That’s why he’s committed to providing youth with real world work experience.

Of course, he’s not the only well-funded businessman in the race. He’s joined by a trio of other city council members who have made their intentions known. Among the other members who have declared themselves for the job are Derek Green, Cherelle Parker, and Maria Quinones-Sanchez.

One of Allan Domb’s many social media accounts is a Twitter account that posts photos of the illustrious real estate mogul. He also has a LinkedIn account that lists him as a consultant. He is certainly a man on a mission.

During his tenure as an at-large member of the City of Philadelphia’s City Council, Allan Domb has been a jack of all trades, master of none. He’s helped shape the city’s legislative agenda, including attracting new businesses and increasing job opportunities for local residents.

L&I violations on his properties

Earlier this year, the city’s Department of Licenses and Inspections issued 22 open violations on five properties owned by Allan Domb. These violations range from fire code violations to hazardous high-rise facades.

According to city records, Domb and his companies hold rental licenses for 272 properties. They’ve also petitioned the city’s zoning code a number of times since he became a politician.

Domb’s properties range from tiny rowhouses to high-profile buildings. His properties have an estimated market value of $400 million. He also owns a minority stake in the Rittenhouse restaurant Parc.

Domb’s real estate business has been in the Philadelphia area for decades. He’s built a network of 40 limited liability companies that own his properties. He’s also managed to avoid major gentrification flare-ups.

Domb is primarily a real estate broker, but he owns a few high-profile restaurants and has stakes in downtown parking. He hasn’t made the decision to sell off his vast real estate portfolio yet.

However, Domb has been the target of hundreds of lawsuits over the years. His properties have been the target of several legal disputes, including a dispute with a contractor and an argument over a rack of ribs that animals chewed wiring.

In the op-ed piece she wrote before being convicted, Mindy Isser said, “Doc’s conviction is the only thing that matters in the real estate market.” In the Philly real estate community, Domb is deeply entwined in his business.

In addition to his responsibilities as a city councilman, Domb is also looking to run for mayor of Philadelphia next year. Assuming he wins, he’d be the Condo King Mayor, which would stoke debates over gentrification and affordable housing.

Conflicts of interest

Several Philadelphia City Council members are considering a run for mayor, and Allan Domb is one of them. Domb is considered a “condo king,” a real estate magnate who owns hundreds of properties in the city. He also rents out luxury apartments in almost 50 Center City buildings.

Domb’s properties have been cited by the city’s Department of Licenses & Inspections for a variety of violations. These violations range from fire code violations to hazardous high-rise facades. In August, the city’s Department of Licenses slapped 22 open violations on five Domb-connected properties.

Domb’s personal properties have also received abatements. From 2008 to 2019, Domb’s personally owned properties received $541,000 in abatements. Of those abatements, $300,000 would have gone to the School District of Philadelphia.

Allan Domb has a real estate brokerage firm, which received $12.3 million in abatements in 2018. He also rents out luxury apartments in almost fifty Center City buildings. This raises questions about the potential for conflicts of interest.

The Office of Property Assessment’s “Properties” dataset lists Domb’s properties. The data is published on Open Data Philly.

In June, Domb and his companies had active rental licenses for 272 properties. The combined value of Domb’s properties is more than $400 million. The properties were built decades ago. The city assessments tend to trail market prices. The assessment for Domb’s properties is $187,573 less than the market value.

Domb has a long history in the real estate industry, but he has recently downsized his development work. He has been on a listening tour across the city, and now is seriously considering a run for mayor. During his tenure on the City Council, Domb took big stands. He criticized Mayor Kenney on gun violence and called out Kenney’s response to gun violence.