Neil Shekhter, a well-known and influential figure in Los Angeles real estate, tragically died on Saturday, November 23, 2024. His family confirmed the news in a heartfelt statement: “Neil filled our lives and the lives of everyone around him with love, humor, curiosity, and never-ending energy.”
His death, officially ruled as a suicide from a self-inflicted gunshot wound, has left a void in the real estate industry and shocked those who knew him personally and professionally.
Neil Shekhter’s life story is one of extraordinary ambition and resilience, shaped by the challenges of his early years and defined by his ability to transform those struggles into remarkable success.
Born in the former Soviet Union, Shekhter faced antisemitism and political instability in what is now Ukraine. At the age of 17, he emigrated to the United States with his family, escaping a system that stifled opportunities for Jewish citizens.
The Shekhter family arrived in the U.S. with little more than hope for a better future. They settled in Los Angeles, where Neil worked tirelessly to help his family make ends meet. Starting out as a taxi driver, Shekhter displayed an early entrepreneurial spirit and a determination to rise above his circumstances.
He credited much of his initial inspiration to a conversation with Holocaust survivors who owned a local store where he worked. They told him about their investment in an apartment building, which provided them with a steady income and financial security. This conversation sparked a dream in Shekhter—a dream that would one day lead him to build a real estate empire.
In 1988, Neil Shekhter founded NMS Properties, a company dedicated to acquiring and improving underperforming multifamily properties. Over the years, NMS became a powerhouse in the Los Angeles real estate market, managing a portfolio of over 2,400 apartment units.
Shekhter’s vision was not just to own properties but to transform communities. He focused on revitalizing neglected buildings and providing high-quality housing in some of the most sought-after neighborhoods in Los Angeles County.
His business acumen and relentless work ethic earned him a reputation as a trailblazer in the industry. By the early 2000s, NMS Properties was a household name in Los Angeles real estate, known for its strategic acquisitions and innovative approach to property management. Shekhter’s success was not limited to business; he was also a mentor to many young professionals entering the field, sharing his insights and encouraging them to pursue their own ambitions.
In 2017, Shekhter’s legacy expanded when his three sons, Alan, Alexander, and Adam, founded WS Communities, an affiliate company that focused on sustainable and community-driven real estate development. Under the guidance of their father, the Shekhter family continued to shape the urban landscape of Los Angeles, cementing their influence in the region.
At its peak, Shekhter’s portfolio included some of the most valuable properties in Los Angeles. One notable achievement was the sale of land in Santa Monica for over $18 million per acre to Tishman Speyer, a global real estate investment firm. This deal highlighted Shekhter’s ability to identify and capitalize on opportunities in a competitive market.
However, the past few years brought significant challenges for Neil Shekhter and his companies. In 2024, WS Communities faced financial difficulties, leading to the surrender of more than half of its portfolio to lenders.
The real estate market’s volatility, coupled with mounting debt, marked a turning point in Shekhter’s career. These challenges, while not uncommon in the industry, were particularly poignant given the heights Shekhter had reached.
Shekhter’s death has raised questions about the pressures faced by high-profile figures in the real estate industry. Colleagues and industry experts have expressed their sorrow and emphasized the importance of addressing mental health, particularly in professions where the stakes are high, and the stress is relentless.
Neil Shekhter was more than just a businessman; he was a father, a mentor, and a visionary. His family’s statement reflects the depth of their loss: “Neil filled our lives with love and humor. His energy was infectious, and his curiosity knew no bounds.” Friends and colleagues remember him as a man who combined intelligence with kindness, always willing to lend a helping hand or share his wisdom.
