Great real estate families. - Free Online Library

Great real estate families. - Free Online Library
The Durst Family
At your turn with the 20th century, any young immigrant arrived in Ellis Island with his lifestyle
savings--three dollars--sewn to the lapel associated with his coat. Joseph Durst, a new charismatic
along with tough working man, located America a hospitable location for entrepreneurship as well as
in 1915 produced his initial Manhattan property purchase, a small office creating on 34th Street.
So began The Actual Durst Organization, which, almost a century later--under the actual current
leadership associated with cousins Douglas and Jonathan (Jody) Durst as co-presidents--ranks
amongst New York's largest and most highly regarded loved ones owner/developers, having a
worldwide leadership role inside the environmental development and renewable power movements.
(A fourth generation will be at present mastering the business in the ground up.)
Seymour Durst, Joseph's son, joined his father inside the 1930s, as well as later set happens for a
long period regarding rapid growth via the group of terrain assemblages about both the actual East
along with West Attributes of midtown Manhattan. Seymour, whom author Tom Schachtman once
called "the premier property assembler involving his generation," skillfully steered the particular
firm through volatile economic cycles. Through the particular '80s, he had proven The Actual Durst
Organization as being a significant owner about Third Voie along with Voie in the Americas, with a
midtown office building portfolio involving a lot a lot more than five million square feet.
As your decade came to an end, Douglas Durst engineered the near-miracle, negotiating the
inventive agreement for your IRS to consider the significant portion involving 1133 avenue in the
Americas, having a separate entrance in the "building within any building" arrangement.
A several years later, in a dramatic present involving faith for the rebirth of times Square, the actual
Dursts initiated another growth phase making use associated with their bold spec development of 4
times Square, your district's initial new office constructing throughout decades. An immediate
success, the particular 1.6-million-square-foot tower became the residence of the Conde Nast global
publishing empire along with headquarters involving international law firm Skadden, Arps, Slate,
Meagher & Flom.
Equally important, 4 Occasions Square emerged as a model pertaining to environmental design,
winning awards along with environment new standards for indoor air top quality along with
innovative alternative energy management systems, water conservation, sustainable building
materials, construction and clean-up methods.
Durst's current tasks push "green" development even further. The Particular 2.1-million-square-foot
Bank involving America Tower in one Bryant Park, below construction on West 42nd Street, in the
co-venture along with Bank involving America, is attracting worldwide interest for its innovations
throughout conservation and comfort and ease features.
The Helena, a new 597-unit rental constructing at 11th Voie as well as West 5Th Street, is
anticipated in order to become among the initial multi-family buildings for you to earn gold LEED
certification (Leadership within Power and also Environmental Design) in the U.S. Green Buildings
Council.
A third significant present project, an unusual mixed-use development co-ventured together with
Sidney Fetner Associates and in addition the Franciscan church, similarly reflects the particular
Durst loved ones zeal for environmental sensitivity in style along with construction.
Jonathan, any mechanical engineer through training, says the particular company's commitment to
green development "demonstrates that respect for that environment enhances productivity as well
as the bottom line. Any healthier operating environment as well as reduced energy costs rewards
each proprietors and tenants."
Douglas, co-chairman with the friends regarding Hudson River Park, and also chairman regarding
New water Taxi, can always be a potent advocate of creating better use involving the city's rich
waterfront resources.
"The park will be opening New York's magnificent waterfront by adding over 500 acres associated
with public facilities, contributing immensely for the city's total well being and economic well being,"
says Mr. Durst. "New York will be blessed using rivers, so we think they will will be a new growing
factor within our magnificent city's future development."
The Dolgin Family
When Kalmon Dolgin, the supermarket owner coming from Russia, decided to start any real estate
brokerage company in Brooklyn, he most likely had not a clue which 100 years later, his great-
grandson would be handling the particular firm's new investments.
Four generations of realtors and also investors from Kalmon Dolgin Affiliates Inc. get expanded
across the bridge to become able to Manhattan, the Bronx, Queens, Extended Island, lower
Westchester, Connecticut, new Jersey as well as beyond, keeping the lowest profile, yet amassing a
remarkable portfolio of commercial as well as industrial property up as well as on the East Coast.
For Dolgin's grandson, also named Kalmon Dolgin, 62, the principal element for the business's
success provides rested in organization and individuals skills.
"Most loved ones concerns by simply no means make it past the 2nd generation," Dolgin said. "It
needs a really unique balance of interpersonal relationships, professional respect along with
planning to become able to integrate the actual various abilities that are necessary for each along
with every succeeding generation."
Dolgin mentioned the firm's longevity rested on the firm's dedication to organization and expansion.
The Actual Dolgin firm's investment wing premiered in 1943, when the founder's sons, Morris along
with Israel Dolgin, bought their very first creating about Hope and also Roebling streets inside the
Williamsburg area of Brooklyn.
The organization continued to be able to grow, along with Israel's a pair of sons, Kalmon and also
Neil joining in the late '60s and '70s respectively. Their Particular investments expanded into
construction involving workplace buildings along with buying centers, medical plazas and also
industrial conversions over the East Coast. Divisions had been added within the particular firm for
appraisal and third-party management. Kalmon Dolgin Affiliates operates a pair of brokerage offices
inside Brooklyn and in addition the Bronx, having a Extended Island affiliate within Stony Brook.
Much More compared to 40, full-time brokers supply transactional representation associated with
building owners, tenants, sellers as well as buyers. About the building management side, the actual
firm applies its accounting, architectural and operational services to more than 5 million square feet
regarding space. Likewise, Kalmon Dolgin Affiliates' appraisals are generally recognized in every
court pertaining to just about all purposes regarding valuation.
The goal of the firm, Dolgin said, features often been "to develop about the foundation, increase its
stability, and also for an expansion throughout new directions that produce a total that's greater
when compared in order to a sum associated with its parts," he said.
The company's workforce is continuing for you to grow from a pair of in order to 60 men along with
women, which includes people specializing in expert support, accounting along with management.
But since of commuting situations, well-spread clientele and also smaller scale New Condos Eastern
Market DC operations, the business hasn't thought regarding relocating to become able to
Manhattan, selecting instead in which in order to stay Brooklyn, based on Neil Dolgin, 53.
"We're really happy within our small scenario getting the large fish within the small pond," Neil
Dolgin said, additionally noting the firm's diverse clientele. "Every distinct sect a person could very
possibly think about can be situated within and also about our outer boroughs."
Diverse age brackets are generally represented within Kalmon Dolgin as well, which range from
Israel Dolgin, which until his latest death with 92 had been operating from the firm's Richardson
Street offices, for you to Josh Dolgin, 33, Israel's grandson.
And final year, Kalmon added, ended up being "one in our banner years."
"We had been able to consider benefit of a recovering economy and a resurgence inside the outer
boroughs, as well as the proven fact that we expanded our existence within New Jersey, Florida and
the few various other sections on the eastern seaboard."
For Josh Dolgin, whom handles the particular firm's new acquisitions along with financing, acquiring
to the property enterprise was obviously a no-brainer coming from childhood.
"I had been often interested in listening to my father talk about work--a lot more, I think, as
compared to my additional brother and sister," he said. "I think I always knew, since I ended up
being five, in which this is exactly where I would be."
The Gural Family
Aaron Gural taught his son which a handshake was nearly as good as a contract. Decades later, that
philosophy will be nevertheless among the core beliefs with Manhattan-based Newmark, one of the
particular largest impartial real estate firms within the United States.
"That's one of the actual benefits of a family business. people determine if these people shake my
hand or my son's hand, then that they possess a deal," explained second generation Chairman Jeffrey
R. Gural, whom at present works with his son Eric, his sister Jane as well as nephew Brian.
Jeff Gural, 62, inherited the particular chairman title from Newmark numerous in many years past
when his now 88-year-old father stepped down simply because associated with declining health.
However, he was already a new principal owner in the company, as well as have been operating
along together with his long-time partner, Barry Gosin to adopt the business to new amounts since
1978. Inside the past decade, Newmark features gone through primarily an owner as well as
manager of Garment District as well as other secondary buildings throughout Manhattan to become
able to a top national brokerage firm.
It has evolved coming from an old-line Ny Area real-estate family members firm in order to an even
more diversified leasing along with managing agent into a main regional along with national player
with worldwide offices employing almost 800 people.
Gural and his partners very own a portfolio of over eight million sq ft regarding property, such as the
landmark Flatiron Building. Annually, the particular firm completes greater than 25 million square
feet regarding transactions, priced at practically $9.5 billion inside total consideration. Additionally,
Newmark manages and/or leases a lot much more than 50 million sq ft involving commercial room
nationally.
The firm features remained lucrative as well as secure through numerous economic cycles, and
expanded in a time when many fighting firms have got contracted.
Jeff Gural credits family ownership--and family members values--for a big part of the particular firm's
success. "As a private company, we are inside a position to make decisions quickly. We don't have to
make choices according to shareholder return or perhaps value perception," Gural explained. "We
can easily depend on experience as well as instinct, along with use a extremely hands-on approach in
order to our business."
Gural mentioned he and also Barry Gosin were decided to grow the company and keep the values
about which in turn it had been established. "There will be anything vital in which you my father
when compared with integrity. That's something he passed on to his family, then one we in
absolutely no way lost sight associated with even while we were expanding and growing," he
explained.
Aaron Gural is widely thought to be certainly one of the particular elder statesmen in the real-estate
sector within New York. He climbed the ladder through a business office boy at Spear and also
Company--a firm started by two of his uncles--while attending college full-time within the 1930s.
Aaron Gural made his mark like a broker within the Garment District just before opening his own
company inside the 1950s. Following many years upon his own, he joined Harris-Newmark, a
business founded in 1905. He rose to end up being able to companion and also many of his
colleagues at the firm subsequently bought it when Dave Newmark retired along with Aaron became
chairman.
Jeff Gural was released to the business while he had been inside college. He labored as an elevator
operator in a Newmark creating in between semesters while earning his degree within Civil
Engineering coming from Rensselaer Polytechnic Institute.
After graduation, he left Ny for you to perform for that State associated with California as the
possible engineer on public works. 2 years later on he had been back again throughout New York,
shelling out your subsequent six years as any possible executive in Morse-Diesel Construction Co.,
where he ended up being responsible for the supervision and also construction project management
regarding greater than any million sq ft of latest office space in such notable buildings as 437 and
645 Madison Avenue.
He joined his father at Newmark in 1972, as well as initially targeted around the conversion
involving small older commercial buildings straight into residential buildings. He quickly earned a
new history of his skills in acquisition as well as development such buildings since the old McGraw
Hill Building, 10 Astor Place, 55 Wall Street, 40 worth Street and various other main properties.
In 1978, Gural and also Gosin, who have been directing the actual firm's fee-generating solutions
such as brokerage and also management, bought the particular firm through his father and his
awesome a pair of remaining partners. His Or Her strategy was to combine Aaron Gural's present
portfolio along with continuing acquisition activity, although providing leasing along with managing
services for the firm's own account as well as outside parties. Gosin had previous Ny experience of
brokerage getting started his career using Eddie Gordon.
Jeff Gural credits Gosin, now vice chair and also chief executive officer, regarding significantly
expanding the particular company. "Barry brought a new desire to grow the company. He had been
a lot more ambitious, and were built with a real vision with regard to expansion. He pushed us in a
direction to create our holdings and also help make acquisitions at a period when owning property
has been much more affordable," Gural recalled. "Today, in which strategy has paid back as real
estate values possess soared."
Presently, additionally in order to serving as chairman, Jeff Gural concentrates about acquisitions
along with managing and leasing properties within Newmark's non-institutional portfolio.
Gosin, along using the firm's president, Jimmy Kuhn, directs day-to-day operations as well as ensures
the actual continued growth associated with Newmark's commercial leasing activities. More Than
the particular length of his career, Barry features facilitated a amount of billion money worth of
workplace leases. in yesteryear fifteen years alone, he continues to be responsible for leasing more
than 30 million square feet associated with commercial room in a few associated with the largest
and a new lot innovative transactions throughout new York Metropolis history, Gural noted. "Jimmy
and the few of our younger partners get in addition been instrumental in the growth of Newmark."
"My dad usually stated being careful when you pick your own partners," Jeff Gural said. "I was. The
idea spent a while working out well for us both, and simply also for the company." However, Jeff
Gural has not necessarily lost focus about the family, or even the importance of bringing relatives
into the business.
His son Eric, 37, any 1990 graduate involving Union College, is a Senior Managing Director
involving Newmark specializing within owner representation and also property management. His
main responsibilities contain managing as well as leasing property about the West Aspect associated
with Manhattan, where he manages the portfolio consisting associated with practically 3 million
square feet. That includes 520 8th Avenue, any property he assisted change from a manufacturing
building into a company office complex, effectively leasing a lot a lot more than 600,000 SF; 1560
Broadway, exactly where he currently leases 240,000 SF; 630 9th avenue where he at present leases
270,000 SF; and also 5-9 Union Square West by which he at present leases 100,000 SF.
More recently, the sister, Jane Gural-Senders, features joined the particular firm. she returned for
you to function right after rearing 5 children, and it is now managing a new building at 230 Fifth
Voie inside Manhattan. He in add-on has brought on the nephew, Brian Steinwurtzel, who is
operating numerous buildings and also handling unique projects.
Jeff Gural is actually a person in your Board of Directors involving Your Real-estate Board involving
The big Apple (REBNY) as well as people receiving its 2005 Humanitarian Award. He can be a vice
president in the real Estate Lodge associated with B'nai B'rith; president in the The Huge Apple
Chapter associated with The Particular Starlight Foundation; part of the Board associated with
U.S.O.; Chairman regarding "IHAD-NY"; co-sponsor with the Chelsea-Elliott "I Use A Dream" Project;
chairman in the Board of Directors in the District Management Association for your times Square
Company Improvement District; part of your Board associated with Directors with the 14th Street-
Union Square District Management Association; part of the Board of Directors with the Eldridge
Street Synagogue; and also member of your Board involving Directors in the Jewish community
center of the Upper West Facet and a Board Member involving Cooper-Union.
Although he features stepped down through most of the multiple positions he as quickly as served in
new York real-estate since regarding advanced age, Aaron Gural nonetheless props up titles
regarding chairman emeritus in Newmark as well as honorary vice chair of the real Estate Board
associated with New York.
Jeff Gural has already been searching forward--to the actual subsequent generation within the family
business. "I'd prefer to hold off long enough to have among my grandchildren interested," your
grandfather associated with five said. "But there're even now young, just about all below get older
10. I guess I just have being individual ... along with hold out an additional 15 years."
The Fisher Family
Fisher Brothers is truly a privately held partnership consists of Fisher loved ones members, and
presently operates near to 6.5 million square feet involving Class The assets throughout Ny city as
well as Washington, D.C. Founded throughout 1915 simply by brothers Martin, Larry and Zachary,
the actual firm began by simply building residential apartment buildings inside Brooklyn, Queens,
the actual Bronx along with Westchester. Inside the actual 1940's and also 1950's, in inclusion they
developed major hotels throughout Florida, such as the particular 300 space Sherry Frontenac
inside Miami Beach, leading up for the firms' first foray straight into Manhattan. from the mid 50's
via your 1980's, Fisher Brothers developed a couple of of NYC's most prestigious residential
addresses, including, around the commercial side, 400 Park Avenue, their particular 1st workplace
building, built inside the mid 1950's. Throughout the 1990's Fisher Brothers ended up being among
the particular largest purchasers involving hotel portfolios in the RTC.
The existing core portfolio throughout Ny Metropolis includes:
Park avenue Plaza, 55 East 52nd Street--a Skidmore, Owings & Merrill designed creating regarding
1.2 million square feet from Park Voie between 52nd along with 53rd Streets completed throughout
1981. Widely imitated with regard to its many practical and also aesthetic breakthroughs: 12 corner
offices per floor, column-free 45-foot interior spans.
299 Park Avenue-l.1 million square feet in between 48th along with 49th Streets. Headquarters with
regard to Fisher Brothers and North American headquarters for UBS Warburg. Originally built over
primary rail tracks for that New Haven Railroad, generating its construction and engineering a new
remarkable coordination feat.
1345 avenue with the Americas-"The Alliance Money Building." 1.9 million sq . ft . in 50 stories
between 54th and 55th Streets, together with fabulous views involving Central Park as well as close
proximity to always be able to Fortune 500 neighbors and also the city's finest hotels along with
restaurants.
605 Third Avenue-"The Neuberger Berman Building." 909,000 sq ft of high profile room among 39th
and 40th Streets. Blocks away from the new Grand Central and the United Nations.
In Washington, D.C., Station Place-In the joint venture together with Louis Dreyfus Property Group,
the partnership is presently creating 1.5 million sq . ft . of Class a office space adjacent in order to
Union Station. Station Location is actually Washington's largest private workplace development,
consisting involving three buildings separated by landscaped courtyards. the US Securities along
with Exchange Commission has leased more than a million sq ft associated with room inside
Buildings 1 and two involving Station Place. Area is likely to be available in Creating three within the
third quarter regarding 2006, such as floorboards plates involving approximately 32,000 sq ft to end
up being able to 55,000 square feet, having a total regarding 505,000 sq . ft . about 11 floors.
The firm offers steadily diversified its activities and assets more than yesteryear several decades and
set up itself as a broad-based investment company. Today, your firm is actually led simply by
partners Arnold, Richard, Kenneth, Steven and also Winston Fisher. Each Along With Every assumes
primary responsibility to get a different aspect of the business. With Every Single Other these people
preside more than an organization vastly a lot more complex, sophisticated, as well as far-reaching
as compared to usually the actual one they inherited.
An instance of Fisher Brothers now is their own city Investment Fund, partnered with Morgan
Stanley real Estate Fund IV, LP, an affiliate of Morgan Stanley & Co.. CIF can be a good investment
vehicle created expressly to become able to pursue real-estate investments inside the particular 5
boroughs. Your fund targets investments inside commercial, office, multi-family residential, retail,
mixed use, industrial and also lodging hospitality real estate.
Growth in community support has additionally expanded inside a huge approach over the past
decades. Coming From the actual Intrepid Sea, Air & Room Museum, which includes the actual
Michael Tyler Fisher center regarding education as well as The Actual Intrepid Fallen Heroes Fund
in order to 33 Fisher Houses world wide, the particular Fisher Brothers foundation and the Fisher
center regarding Alzheimer's Disease Analysis Basis to always be able to name probably the most
noticeable enterprises.
The Koeppel Family
The management, leasing along with growth along with development of the actual Koeppel
Companies LLC property portfolio are handled these days through 4 Koeppel family members
members; Edward A.K. Adler, Caleb D. Koeppel, David J. Koeppel along with Sarah K. Cohn. all
attorneys, they tend to be the fourth generation with the Koeppel family members in the real estate
business. Their Own great-grandfather, Abraham, was obviously a builder/developer of loft and also
residential buildings within the early many many years of the last century in inclusion to always be
able to their grandfather, Max, founded Koeppel & Koeppel with his brother Harry involving the
world Wars. Pertaining To many many years beginning inside the 1960's, your senior principals of
the firm were Max's sons, Alfred along with Bevin. Subsequent Alfred's death inside 2001, the
particular present management organization was formed from the next generation. Bevin Koeppel
remains active inside the business.
Highlights of the family's real estate activities over days gone by half century start using the
purchase with the Regular Oil building at 26 Broadway in the Mobil Oil Organization throughout
1956. This specific 650,000 square foot property has been bought completely vacant when Mobil
gone to reside in midtown. Installing central air cooling and converting the particular 23 manually
run elevators in order to automatic had been the really first of numerous capital tasks undertaken.
recently most of the elevators had been when once more upgraded for you to state-of-the-art
capability using electronic access controls, and an extensive restoration with the limestone facade
has been completed this year. Your property has become any new York city Landmark.
575 Lexington Avenue, the 600,000 square foot office constructing integrated 1958, had been
purchased through the Koeppel family members inside 1965. Your entire creating has been
renovated in 1990 whilst it had been 95% occupied. Your renovation included a manufacturer new
glass and aluminum curtain wall, new retail facades, new just about all marble lobby, along with new
elevators. Koeppel Companies LLC main workplace is positioned on the 29th flooring in the building.
Until the actual late '80s, the loved ones held a substantial portfolio involving residential rental
buildings within Manhattan, Queens, Brooklyn and the Bronx, some under family ownership for over
forty five years. one Manhattan building, 130 E. 63rd Street, originally purchased through the loved
ones in 1963, has been converted from a luxury rental apartment constructing to a cond-op inside
1991. Your 6 retail store shops upon Lexington avenue became an industrial condominium as well as
are already retained as getting a permanent section of the loved ones portfolio. Inside the actual
fourteen a extended time since the actual conversion became effective, sales of however sixteen in
the seventy-four cooperative apartments happen in order to be concluded as renters vacate unsold
apartments.
The family's 130 Fulton Street project has been underway regarding a long period and conclusion is
expected through the 1st quarter involving 2006. the property formerly called 87 Nassau Street, any
nine-story loft/office constructing inside downtown Manhattan, was built in 1890 by Otto Kahn along
with continues to be within the loved ones portfolio since 1957. Your project includes adding four
new floors for the top of the actual structure, constructing on which had been a yard an entirely new
services core with regard to elevator shafts along with stairways, and the creation of 20 luxury
condominium units for sale. Your retail store retailers upon Fulton along with Nassau Streets along
with the 2nd along with arcade floors of commercial and also list room will most likely be retained as
part of the family portfolio.
In 1988, a quantity of the actual Koeppel family members founded your total services real estate firm
now known as KTR Newmark Real-estate Solutions LLC. KTR provides brokerage, valuation,
underwriting, environmental, engineering, construction loan monitoring along with consulting
services all through the united states having its principal workplace inside Ny and other offices
situated in Chicago, Dallas along with Los Angeles. Newmark real Estate Services, Inc. designed a
strategic investment in KTR which in turn transaction ended up being completed within 2001. Your
alliance using Newmark continues for you to be instrumental in broadening industry penetration
associated with KTR while in the same time enabling Newmark for you to offer its clients solutions in
which a traditional broker/manager does not offer.
The Gallin Family
From its begin in 1886 like a little masonry and also concrete company, John Gallin & Son, Inc.
features evolved in for you to a thriving construction company that will today can be run by
immediate descendants with the original John Gallin: Mark Varian, the nephew with the Gallins and
also present president, along with imes Square. The Actual firm additionally can be completing an
assignment for that research Basis in the city university regarding Ny (CUNY) from 230 West 41st
Street inside Manhattan.
Gallin has won numerous awards and also accolades with regard to construction excellence. By
Simply strategically assisting its customers from the original levels of the project to be able to its
final completion, Gallin offers secured its popularity as a quality firm that consistently provides
superior function and also keeps its promises.
Gallin's achievement is in its power to satisfy the challenges as well as changes with the times, the
characteristic which includes resulted inside numerous faithful customers and a steady inflow
involving projects, which could have assisted shape the particular city for a lot more than any
century and can carry on to accomplish thus for decades to always be able to come.
The Kalikow Family
BY EDWARD KALIKOW
When Joseph Kalikow began his real estate career within the 1930's, the actual dynamics of the
business enterprise were much less complex than they tend to be today. Right now there had been
no REIT's or perhaps collateralized mortgages; there have got been absolutely no bundling
regarding mortgages or even defeasance experts. Exactly what existed would be a period where
honesty, integrity along with relationships had been valued around your success that was amassed
through the accumulation associated with wealth.
During the past 80 many years much has evolved in the real estate sector along with fortunately
your characteristics embraced through Joseph Kalikow live on today. Joseph's sons--Harold, Nathan
and also Sidney continued inside the tradition regarding their particular father creating an empire
that could reach over 10,000 units regarding solid, multi-family rental units that are nevertheless
producing income, and are homes to numerous New Yorkers today. Inside their footsteps followed
their particular son's--Peter, Richard and also myself--Edward Kalikow. We adopted distinct paths
when the brothers went their particular separate ways in the 1970's. Every of us continues to
become able to be effective in his or your ex own whole globe of the particular real-estate industry.
Today, I welcome the particular involvement with the fourth generation within the family enterprise
began through Joseph.
Honesty, integrity, charity along with devotion for you to family members are usually traits that have
served and always serve the actual Kalikow family members well. Nowadays my management firm
Kaled Management Corp., (www.kaled.com) manages in excess associated with 5,000 rental, co-op,
condo and also HOA units in the Ny metro area. We continue to personal 2,000 units built and also
acquired simply by Sidney over the particular decades.
Seeking opportunities throughout growth markets your newest part involving my firm Your Kalikow
Group, (www.thekalikowgroup.com) has more than yesteryear 10 years provided equity richesse for
you to form Joint Ventures using local developers all through the country. We have raised within
extra regarding $60M which includes enabled us for you to take component in over $250M of real-
estate ventures. some in our markets include: New York, Pennsylvania, Connecticut, and
Massachusetts, each coasts involving Florida, Raleigh-Durham, North Carolina, Charleston, South
Carolina, Houston, Texas, Pell City, Alabama along with Las Vegas, Nevada.
Relationships drive the actual achievement that has followed. Practically almost all of our developer
partners carry on to complete business together with us. Earnings per share or even the vagaries
with the richesse markets do not necessarily motivate us. These kinds of "constraints" which a few
view as opportunities, inhibit my capacity to manage property just how Joseph did. one must "kick
the tires", find dirty and have strong relationships. today it could end up being really difficult to
build a building according to any handshake the means by which Joseph did.
The dynamics regarding the market place are constantly changing. Exactly Where my son Gregory
and my nephew Jordan choose to consider the business in the future is not but know. However,
embodied with the fundamental concepts instilled included by me, as taught by simply my father
Sidney which in turn was taught for you to him simply by his father Joseph, I anticipate your Kalikow
title will carry on to become a shining star in our industry.
I wish saying thanks to real Estate Every Week pertaining to nominating our house upon their 50th
anniversary as certainly one of the truly amazing real estate families. We wish these people much
continued success in your course of their particular subsequent 50 years.
The Tisch Family
The story involving Laurence (Larry) and also Preston Robert (Bob) Tisch as well as their rise to the
best echelons with the corporate world known inside the annals regarding business history. Just
what isn't widely reported will always be the role that "hard assets"--particularly real estate have
played within fueling your steady growth regarding their particular business, Loews Corporation,
which can easily be now among the particular country's top Fortune 500 diversified economic
corporations.
Larry and also Bob invested their own careers maximizing real estate values along with capitalizing
upon new investment opportunities--growing Loews in to a corporation using assets now valued at
more than $70 billion. following inside their father's footsteps, the 2nd generation of Tisches-
-Andrew, James and Jonathan, that assumed the helm regarding the organization inside 1999 after
Bob and Larry stepped down coming from day-to-day management--continue their own father's
company traditions and appreciation in the property prospective of just about any holding.
For the Tisch family, it all began within 1935, with a little summer camp in Blairstown, New Jersey,
which your loved ones owned as well as operated. Any time they built the 32-room guesthouse
regarding guests towards the camp, the Tisches got his or her very first taste of the resort business-
-marking the beginning in the family's remarkable good results story.
The sale of the camp provided the seed funds for the family's full fledged entry into the hotel
company within 1946 after they bought the actual 275 room Laurel-in-the Pines hotel throughout
Lakewood, New Jersey. Quickly they had sufficient profits from your resort to buy another--and
before extended had built a new thriving hotel chain within Manhattan, New Jersey, Atlantic Town
and also Florida.
It is at 1959, when Metro-Goldwyn-Mayer had been instructed to spin off his or her Loews Theatre
division because involving anti-trust regulations, that the Tisch brothers began in order to broaden
their particular business. they bought your movie theater chain (then about 120 screens over the
country) realizing the want for your land underneath each of your buildings. A New real-estate
specialist, Arthur Raporte, ended up being added for the Loews staff in order to evaluate the theater
portfolio, maintaining these movie houses which are viable as theaters and also promoting
individuals which are deemed to not have potential. He ended up being Loews initial Vice President
regarding Real Estate, succeeded by John Malino, that held that position with regard to 35 years, as
well as accompanied by Jason Boxer, that now heads the Real-estate Department.
Funds in the theater sales propelled the particular brothers straight into an ambitious program
regarding hotel construction. between 1961 along with 1963, the business built seven hotels (six
throughout Manhattan and something within Puerto Rico) and 2 luxury apartment houses in Ny City.
Larry along with Bob continued to expand, seeking under-valued assets, which, to this day, is really
a keystone regarding Loews's philosophy. 1 such investment manufactured in 1995 by means of
Loews insurance subsidiary CNA, ended up being the acquisition involving 25 1/2% equity within
Canary Wharf, the actual 15 1/2 million square foot commercial center in London. This particular
investment netted the actual company $750 million, through a mixture of rental income, dividends
and purchasers involving portions with the stake. CNA offered the final bit of the actual project final
year.
Loews subsidiaries now consist of CNA; the tobacco company--Lorillard; an oil drilling company-
-Diamond Offshore Drilling; a new fuel pipeline company--Boardwalk Pipelines, that consists
associated with 2 companies, Texas Gasoline and Gulf South Pipeline; a watch and clock company-
-Bulova; and also Loews Hotels, which presently has 18 properties inside the Usa and Canada. Each
As Well As Every of these subsidiaries was included with significant real estate, that features to
become managed, sometimes consolidated, as well as in some cases sold.
Although property has not driven the particular Tisch loved ones or Loews management, it actually
is distinct that property assets possess usually been a big a part of the actual evaluation procedure
which occurs when contemplating a manufacturer new acquisition. Since Bob Tisch, Chairman
associated with Loews, not too long ago said, "We get always tried to produce one in the most from
property which has occur together with all of the particular businesses we've bought--and I realize
that the 2nd generation is actually continuing to do just that."
The Milstein Family
For 3 generations, your Milstein family members continues to be any main force in the development
of new York City, the actual region, along with beyond. Their Particular entrepreneurial spirit can be
evident inside their main holdings--Milstein Properties, Milstein Brothers Richesse Partners and the
Emigrant savings Bank--as well since the august institutions that will bear their name: Milstein
Hospital Creating regarding The Large Apple Presbyterian Hospital; Milstein Hall involving Ocean
Lifestyle ("The Whale Room") in the American Museum associated with Organic History; Milstein
Division involving Nearby History, American History and Genealogy at the new York Public Library;
Milstein Hall at the Cornell University's School of Architecture, Milstein Plaza in Lincoln center for
your Executing Arts, and many others.
The family members enterprises began with Morris Milstein in the wood flooring business.
Beginning along with just his a couple of hands, Morris founded Circle Ground Company, Inc., within
1919. Circle Ground grew and, right after world War II, expanded into floor tile, acoustical ceilings
along with drywall construction. Through 1960, Paul Milstein had led Circle Flooring to dominate
the particular The Huge Apple market, installing floors--and later on walls as well as ceilings--in
many associated with New York's very best known modern landmarks: Rockefeller Center, your Us
campus, along with LaGuardia along with Kennedy airports, Lincoln Center, the world Trade center
and also the new Madison Square Garden. Paul Milstein launched the family's initial real-estate
development tasks in the 1950s.
The Milstein vision ended up becoming to purchase big scale developments that will serve to anchor
and revive ailing neighborhoods. Paul, together along with his sons, Howard along with Edward,
designed a keen vision regarding identifying neighborhoods exactly where they will observed
extraordinary possible a extended moment before nearly all others.
* Although the Lincoln center location was nonetheless being viewed by many through the particular
prism involving "West Facet Story," the Milsteins developed three important buildings: Dorchester
Towers (1962 [the 1st luxury creating because location since the second Globe War]), 1 Lincoln
Plaza (1972) along with 30 Lincoln Plaza (1978).
* When East 96th Street was nevertheless being viewed since the "DMZ," the Milsteins developed
the huge Normandie Court using 1500 80/20 units.
* Any time Battery Park was still being raw landfill, the actual Milsteins built Liberty Court, Liberty
House, Liberty Terrance and, finally, Liberty View.
* Just Before Murray Hill became a new "hot" community around the East Side, the Milsteins
developed Windsor Court, an entire square block.
* Any time Eighth Voie within Hell's Kitchen only agreed to be a new tawdry extension of Occasions
Square, the actual Milsteins bought your 1300 room hotel that might end up getting the Milford
Plaza, an along with developed in which abandoned shell to the the majority of productive tourist-
class hotel in the Usa with most the fabled Mama Leone's Restaurant. From the identical time, their
particular investment assisted in order to change New York's faded theater district.
In 1989, the Milsteins expanded beyond their particular tasks and also acquired Douglas Elliman--a
white glove firm which within fact had pioneered the actual concept in the Park Voie coop. by some
time they will marketed it inside 1999, your Milsteins had parlayed the particular once-venerable
manufacturer they acquired into the gold standard pertaining to residential property brokerage
along with management inside The big Apple City. Along With that they employed their situation to
assist cleanup corruption in New York's entire property management industry.
In 1986, your Milsteins acquired Emigrant Financial Savings Bank, a $3 billion historic NYC bank.
under the actual leadership regarding Co-Chair, President along with CEO Howard Milstein, it's
now, with $10 billion, your largest privately owned bank inside the country.
Throughout the next 50 % of your 20th century, the Milstein family members provides remained
certainly 1 of probably the actual most dynamic forces on the real-estate scene through their own
activities, as well as from 1963 until 1999, their leadership involving Starrett Housing Corporation
as well as HRH. As with regard to his or her current projects:
* The Actual Milsteins are usually creating the last remaining parcel associated with property within
the times Square area right directly into a mixed-use, innovative 850,000 square foot tower.
* These People are developing more than one million sq . ft . of residential and retail store within
Stamford, CT.
* a major residential project is actually below way Inside Ridgefield, CT.
* Within long-depressed Niagara Falls, the actual Milsteins are implementing a new six million
square foot mixed use urban redevelopment project.
And a great many other long term projects....
Ogden CAP Properties
Drawing on the notable Milstein loved ones tradition associated with holding assets instead of
buying to always be able to trade them, while continuing to cultivate along with cultivate his or her
portfolio, Seymour's children, Connie along with Philip, and his awesome granddaughter, Abby
Elbaum, developed Ogden CAP Properties within 2003. the firm manages an extensive portfolio
involving prime residential, commercial, and also resort properties in The Large Apple City, which
includes Normandie Court, Windsor Court, one Lincoln Plaza, Biltmore Plaza, along with Dorchester
Towers. The Actual firm in addition will carry on to function the 1,300-room Milford Plaza Hotel,
which is set for any tip-to-toe renovation in the near future, where there can be rumor of each an
additional resort as well as bank acquisition.
There is also the ongoing and also essential family tradition of philanthropy, marked by method of a
long-term involvement like a trustee or possibly a board part of Columbia University, new York
Presbyterian Hospital, your 92nd Street Y, and furthermore the new York Town Opera, to mention
the few.
"Connie, Philip and I hope in setting up Ogden CAP Properties for you to accomplish your highest
standards, and also carry on the values as well as philosophy of our father as well as grandfather,"
explains Abby, the fourth-generation Milstein, whom left a profession within private banking at
Seymour's request in order to prepare to imagine the actual helm of the family members enterprise.
"To that end we are searching optimistically towards the lengthy run and a host involving exciting
new challenges and also possibilities that will create my grandfather proud."
The Olnick Family
The Olnick Organization, Inc., the privately held, third-generation New York-based real-estate
development organization has been founded simply by Robert S. Olnick greater than fifty years ago.
The Actual firm is active inside the development, management along with financing of prime Ny
metropolitan region residential, workplace along with resort properties.
Today, below the actual direction with the late Mr. Olnick's son-in-law, organization president
Richard (Rick) Lane and the son-in-law, executive vice president as well as COO Neil L. Rubler,
Olnick features expanded its portfolio and services. Olnick is the owner involving Manhattan office
properties 270 Lafayette Street along with 130 Fifth Avenue, as well as in New Jersey, your premier
office properties four Gateway Plaza inside Newark along with Headquarters Plaza within
Morristown (this property can be owned throughout partnership along with Fisher Development).
The Benenson Family
Benenson capital Partners, LLC represents your really meaning of "Real Estate Family." This kind of
private organization is actually built on the tradition that spans 100 years. Next founder Benjamin
Benenson and his awesome visionary successor Charles B. Benenson, today's new generation
regarding leadership consists of Bruce W. Benenson, Frederick C. Benenson and Lawrence B.
Benenson, the founder's grandsons. together using senior executives Richard A. Kessler as well as
James E. Stifel, this team provides a level of continuity and expertise which may always be
unmatched within the property investment community.
Benenson Richesse Partners, LLC (BCP) will always be the management arm of the Benenson team
associated with companies including The Particular Benenson Money Company. Dating back again
for you to 1905, Benenson Richesse Partners provides usually been a leader amongst privately held
operating companies inside real estate investment, development along with asset management. The
Actual business owns a lot a lot more than 175 properties, which includes retail, office, industrial,
multifamily, hospitality as well as terrain throughout your United States, Canada as well as Europe.
The Benenson family survived your great Depression since with the company's lucrative lease with
The Particular Horn & Hardart automat with 31st along with Broadway. Charlie Benenson, an
impressionable youth at the time, by absolutely no means forgot the essential lesson he learned.
Thus began Benenson's reputation fantastic credit rating tenants and also great locations. one main
target for Benenson Money Partners will be single-tenant triple-net leased properties occupied
through significant corporate tenants. Corporations along with entities along with which usually
Benenson has long net lease relationships contain General Electric, home Depot, Wal-Mart, The
Actual Ford Motor Company, the World Bank and in addition the U.S. Government.
Since its inception, the organization offers expanded its property portfolio while maintaining any
keen contrarian eye regarding long-term values. Pertaining To example, the firm acquired
underdeveloped terrain inexpensively inside the 1960s and also 1970s, then successfully developed
this land all through the actual 1980s and 1990s--building highly lucrative mixed-use properties
throughout the country.
Benenson capital Partners also pursues strategic relationships and also value-added transactions
along with corporate tenants, lenders, as well as joint venture partners. These kinds of initiatives
capitalize in possibilities inside undervalued assets, build-to-suit projects, new development as well
as redevelopment. Developments in Ny consist of 1180 Voie in the Americas as well as Your
Metropolis, a new residential tower about East 44th Street.
As Benenson Money Partners has exploded by means of acquisition, investment along with
development across the country, it remains, from its heart, a new "real estate family" business.
Founded as well as led simply by extremely principled people have been passionate about business,
philanthropy and in addition the betterment involving Ny City, the company carries on in these
traditions today. Throughout the 1990s, the particular firm dedicated to developing its management
depth and creating an exceptional history of its skilled staff, whilst upgrading its technologies along
with forming strategic relationships along with leading corporate tenants, lenders as well as joint
venture partners.
Today's Benenson Money Partners remains a new reflection involving its past leaders, but can be a
modern entrepreneurial real-estate company effective at organizing and also analyzing projects
regarding virtually any size. Your company's real-estate portfolio features strong geographic along
with tenant diversity, as well as its financial performance doesn't depend on any single company,
economic sector or perhaps property type. Your fourth generation of Benensons has become
emerging because the company's link towards the future, as Benenson Money Partners enters its
second century.
The LeFrak Family
Recognized as certainly 1 of the world's leading creating firms, the actual Lefrak Organization has
been acclaimed internationally with regard to its commitment to large-scale cost-effective housing,
responsible community development, along with sensitivity in order to environmental preservation.
A paragon throughout its field, Lefrak revolutionized the actual creating sector with its "Total
Facilities pertaining to Total Living" in huge communities, just like Lefrak City--5,000 apartments on
42 acres--where residents enjoy year-round on-site facilities pertaining to shopping, entertainment,
and leisure.
The Organization also satisfied your challenge associated with developing the particular 92-acre
Battery Park Town with the really first major waterfront landfill community throughout The big
Apple within a lot more than one hundred years. Lefrak built the initial 1,700 apartments from
Battery Park, your appealing Hudson River esplanade, an underground garage, retail and
commercial space, plus a health and swim club.
When Harry LeFrak founded the actual Lefrak Organization throughout 1901, he strived to identify
his name together with creating integrity as well as quality ... as numerous generations of
forefathers within France had achieved just before him.
From 1948 until his death within 2003, Harry's son, Samuel J. LeFrak, as chairman in the Company,
initiated as well as oversaw an increase in construction to fulfill enormous post-World War II housing
demands. Simply By the particular early 1950s, the actual Organization furthermore began to
become able to reclaim huge tracts involving terrain in order to develop innovative mini-cities
pertaining to that the Lefrak Organization may be acknowledged as becoming a leader in its field.
Thus, the actual Lefrak identify is becoming synonymous using excellence throughout design,
construction, engineering, and also urban planning.
Today, Richard S. LeFrak, chief executive officer, chief operating officer, and president, with each
other along together with his 2 sons, Managing Directors Jamie as well as Harrison, tend to be
leading the Lefrak Organ nization to the future, although preparing the strategies by which for that
next generation regarding LeFraks to visualize your mantle associated with leadership.
Lefrak at present will be constructing Newport, the $10 billion development about 600 acres along
the Jersey city Hudson River waterfront. The Actual largest mixed-use neighborhood in the nation,
Newport is definitely an environment encompassing your "total living" concept pioneered through
Lefrak, and represents the particular Company's dedication to serving customers along with
enterprise via any century-old tradition regarding excellence.
The Resnick Family
Founded by Jack Resnick within 1928, Jack Resnick & Sons, Inc. may be any leader in development,
construction, ownership and also management of commercial and residential real estate throughout
The Large Apple city for over 70 years. Burton R Resnick (Jack's son) joined your firm throughout
1953, became its chief executive inside 1971, and today will end up being the firm's Chairman of the
Board and Chief Executive Officer.
One with the real-estate industry's nearly all respected leaders, Mr. Resnick lately served as
Chairman with the Board associated with Governors in the Property Board of The big Apple and it is
actively associated with countless philanthropic causes. Using his three sons firmly entrenched
within the business, your family tradition will continue. Scott Resnick, who joined the firm in 1989, is
President along with Chief Operating Officer; Peter Resnick, whom came aboard within 1995, is a
Managing Director throughout Commercial Leasing; as well as Jonathan Resnick, whom arrived
1996, is truly a Managing Director within Construction.
The Resnick Family Members has developed, along with owns, any portfolio associated with crucial
residential and commercial buildings (comprising approximately 1,500 apartments and also 5 million
sq ft of workplace space) throughout prime locations in new York City, including numerous luxury
apartment buildings such as The Actual Gershwin (250 W. 50th Street), Gracie Mews (401 E. 80th
Street) as well as Symphony house (235 W. 56th Street), and also office properties for example 1
Seaport Plaza (199 H2o Street), two Chase Manhattan Plaza (20 Pine Street), 110 East 59th Street,
485 Madison Voie as well as 75 Park Place. The Particular family is actually currently developing a
new 400 unit residential tower within Tribeca.
Jack Resnick & Sons, Inc. can be comprised associated with experienced, high-level executives that
execute the particular firm's complete services real-estate capabilities within development,
construction, leasing and also management. Nearly All of these executives happen for you to be
associated with the Resnick team for upwards of twenty years, any tribute to the ownership along
with management philosophy, also because the good results with the firm.
The Rechler Family
Throughout his or her history, the particular Rechlers have enjoyed any history of offering the
highest quality product and also services for sale in long Island's real-estate market. Today, the
particular Rechlers are drawing upon their experience, knowledge of various market sectors, vision
as well as resources to produce distinctive properties along with enterprise solutions, not only about
long Island, nevertheless throughout the region. Via their own organization R Squared LLC, Mitchell
Rechler as well as Gregg Rechler oversee over 7 million square feet involving properties all through
the particular new York Region, which includes Rechler Equity Partners LLC, representing over 100
industrial along with workplace buildings about Extended Island.
The Rechler loved ones created its entrance into real estate in 1958 with all the progression of Ny
City's first industrial park from Newtown Creek, Brooklyn. Only two years later, the actual family
members began investing in long Island real estate, buying a number of industrial properties, which
includes the particular 600-acre ITT parcel (formerly the particular Voice of America Operations
Center), together with options with an further 600 acres to produce the particular Vanderbilt
Industrial Park. Throughout 1964, they will developed the initial planned industrial park on Lengthy
Island--the second largest industrial park within the country.
The Rechlers didn't quit there, as well as in 1968, Donald, Roger as well as their father William
Rechler founded Reckson Associates, a company that will two years later on developed the initial
award-winning, high-tech industrial park inside The big Apple State, a 1.8 million-square-foot project
inside Airport International Plaza inside Bohemia.
Throughout the particular '70's as well as '80's, the particular Rechlers became the leading
developers of office and also industrial properties on long Island. Inside 1995, the particular
Rechlers when once more produced history by simply getting Reckson public on the Ny Stock
Exchange as Reckson Associates Realty Corp. (NYSE:RA), along with approximately $285 million
inside proceeds for the Company. their initial portfolio included 72 office and also industrial
properties totaling 4.5 million square feet, substantially positioned about Extended Island. from
1996 to be able to 2001 they will expanded the Organization to include properties throughout new
York City, Connecticut, Nj as well as Westchester--completing the particular Tri-State strategy, and
expanding the Company's portfolio to over 22 million sq . ft . having a total marketplace cap of $3.3
billion.
In 2001, while even now serving as Co-Presidents or even Reckson, Mitchell Rechler along with
Gregg Rechler formed R Squared LLC using their development of your $95 million retail center in
White Plains, adopted by method of a group of additional retail, residential along with hospitality
tasks all through the actual region.
In 2003, Mitchell, Gregg, Donald and also Roger Rechler left Reckson along with formed Rechler
Equity Partners, which acquired the particular Extended Island Industrial portfolio of Reckson
Associates Realty Corp. in the $315 million transaction.
The Rudin Family
The Rudin family members philosophy associated with property ownership truly began more than a
century in the past when Samuel Rudin's father bought 153 East 54th Street. He encouraged the
small Rudin to never offer the actual constructing and to try to obtain all of the property about it.
following his father's advice, Samuel Rudin eventually acquired the majority of the surrounding
properties and, to be able to this day, the actual constructing remains the proud section of what's
one of the most prized privately owned property portfolios within new York City.
As the Rudin passion pertaining to new York real-estate grew, Sam and the brothers Edward, Henry
along with Nathan came up with management along with leasing company, Rudin Management Co.,
within the early 1920's. their simple principle involving vertically integrating just about all aspects of
real estate with a hands-on approach for you to management continues today to draw in a few
associated with the world's nearly all prestigious tenants to end up being able to Rudin's residential
and commercial buildings.
After Globe War II ended, Sam and the sons, Jack as well as Lewis, lay out to expand their particular
holdings and also positively influence the skyline regarding New York, first with apartment
buildings, along with later together with office buildings. Today, the company owns 16 Manhattan
workplace properties containing more than ten million sq ft involving space.
Following Sam's death inside 1975, Jack and Lewis took over the company and not simply expanded
its portfolio nevertheless advanced Sam's curiosity about philanthropic and civic affairs. in 1971,
Lewis, together with additional business, real-estate along with civic leaders, came up with
Association to obtain a Much Better new York in reaction towards the fiscal crisis.
In your early 1990's William Rudin had been named president regarding Rudin Management. In that
time the particular real estate industry within new York had been suffering, especially inside lower
Manhattan. William immediately devised a strategy that will spearheaded the actual family's role
inside the revitalization associated with downtown, developing a center with regard to hi-tech
companies in 55 Broad Street. This particular project set a new direction regarding Rudin, that now
integrates your concept associated with broadband connectively in to always be able to the fabric
with the family's real estate.
Today, a third generation regarding Rudins--Eric, Beth Rudin DeWoody and also Madeline Rudin
Johnson--are actively involved with continuing the family's leadership role inside real estate.
The Stern Family
One with the most-repeated associated with the great American success stories begins in 1926 once
the late Max Stern immigrated in order to America via his native Germany together with 6000
performing canaries he received in payment of the debt, spawning Hartz Mountain Industries.
Expanding his company led him for you to manufacture bird meals under the particular Hartz
Mountain brand. Throughout the actual decades that followed, Hartz pioneered the sale involving
canaries, parakeets, hamsters, tropical fish, goldfish as well as their supplies inside assortment
stores throughout your United States Regarding America as well as Canada.
In 1959, in the ages of 21, Leonard Stern joined his father with Hartz Mountain, right away
expanding the actual Company's bird food item lines to add an entire pet supply department straight
into greater than thirty thousand supermarkets and mass merchandisers throughout America and
the United Kingdom. Along With he quickly started addressing your growing concern's real-estate
issues, moving several operations via lower Manhattan for you to property Hartz purchased inside
New Jersey.
A shift regarding emphasis was signaled within 1966 when Hartz undertook a main new speculative
industrial development Bayonne. two a prolonged time later on Hartz created the really first of
several major property acquisitions using the purchase of the 750 acre tract associated with land
within the Nj-new Jersey Meadowlands, less than 6 miles through Manhattan, which now could be
known as Harmon Cove and is also one of the most successful warehouse as well as distribution
centers inside the world. Throughout occasion Hartz Mountain would obtain more than 1,800 acres
inside the Meadowlands and other big tracts elsewhere inside New Jersey, as well as real estate
development will come to become your dominant activity with the company. Any strategic choice to
offer the pet products organization in 2000 further centered your company.
Currently, Hartz Mountain Industries owns a lot more than 200 buildings comprising 38 million
square feet, such as 22 million-square feet of industrial, 10 million sq ft of office, 2 million sq ft
regarding retail, and also 11 hospitality properties containing a lot a lot more than 2,200 rooms.
Nearly All involving Hartz Mountain's holdings have been in New Jersey, however its portfolio
contains a number of notable Manhattan properties, which includes the particular chic Soho Grand
along with Tribeca Grand Hotels, and also 667 Madison Avenue, a 267,000 square foot 25-story
world-class workplace building.
The late 1990s represented any significant threshold at Hartz, because the recovery in the
commercial real estate market coincided using the promotion involving Emanuel Stern, Leonard
Stern's son, to always be able to Chief Operating Officer associated with Hartz Mountain Real
Estate. Within 1997 Hartz Mountain correctly anticipated the actual rejuvenation with the Jersey
city waterfront by purchasing Colgate Center, triggering an intensive construction era regarding
itself and the waterfront having its speculative growth along with development of 70 as well as 90
Hudson Street. Furthermore, it developed the remaining acreage within Harmon Cove, adding 3
significant new warehouse facilities. As Well As each Manhattan hotels were opened to rave
critiques as well as record rates, igniting any nonetheless burning trend with regard to downtown
boutique hotels.
The turn of the century found Hartz renewing its focus on retail development. Harmon Meadow, the
particular Secaucus-mixed use development which was the actual original model for your suburban
lifestyle center was reinvented using a distinctly big-box flavor with the particular help of a Wal-
Mart along with Sam's Club in 2003 and this year Marshalls, home Merchandise as well as AC
Moore opened retailers as well as is planning to be joined inside 2006 by simply Linens 'N Things.
Inside all, practically one million sq . ft . of new retailing will most likely be opened, joined simply by
new restaurants along along with a rejuvenated tenancy in Hartz's adjoining Mill Creek Mall, now
anchored by simply Kohl's.
In early 2005 Hartz got any new 102-acre site about Route one out of Edison, formerly a Ford
manufacturing plant, exactly where it will produce a fresh one-million-square-foot lifestyle middle
along with retail store and entertainment uses. Promising another reinvention with the suburban
mixed-use experience, progression of the last huge retail-friendly site inside Middlesex County is
expected in order to commence inside 2006.
Historically higher capitalization rates and also low interest levels have got caused recent shifts
inside the Hartz Mountain portfolio strategy, particularly its shedding of some workplace assets in
the Meadowlands along with development of new investments in premier suburban retail as well as
workplace markets. Your company extra 15 Exchange Place, the particular 135,000-square-foot
historic neighbor of Colgate Middle throughout Jersey Area which includes lengthy been the house
of Wall Street clearing operations.
Hartz furthermore purchased the finest office creating in Ridgewood, outbidding greater than 20
contestants along with spending accurate documentation cost for an outstanding as well as unique
110,000 square-foot asset. And, not ignoring its roots, the company will be reinforcing its position
inside the industrial marketplace by redeveloping along with repositioning several warehouse
facilities--it was lately acknowledged by the Nj chapter associated with NAIOP as being a deal of the
Yr Finalist inside 2004 for redeveloping a former warehouse throughout Harmon Cove into a
banking middle pertaining to North Fork Bank.
Maintaining its energy along with leadership position may be accompanied through recognition
associated with its achievements, using the organization receiving numerous crucial accolades this
year. It was named by NJPA real Estate Journal because the "Best Developer associated with 2004"
and by Company Information new Jersey (NJBIZ) as among the particular "Best Locations in order to
Perform within New Jersey" with regard to 2004.
Often the particular senior player inside an business takes on a new risk-averse air, but with Hartz
Mountain there exists a established give interest to new opportunities. Together With its strong
stability sheet along using a highly diversified expert management team, Hartz Mountain Industries
provides positioned itself to carry on to build and also add for you to its portfolio--and its legacy.
The Rockefeller Family
Throughout his life, John D. Rockefeller, Jr. was associated with numerous worthwhile initiatives
about Ny City--the Palisades Interstate Park, the Cloisters and Fort Tryon Park, Riverside Church,
your United Nations, as well as the like.
While most of those endeavors are generally memorable, John D. Rockefeller, Jr.'s many enduring
contribution in order to new York City, the actual nation, as well as the planet might have been a
real-estate project he undertook within the midst with the great Depression--the construction of
Rockefeller Center.
Rockefeller's original purpose for your property throughout midtown Manhattan ended up getting to
lease the land through its owner, Columbia University, as a fresh home for that Metropolitan Opera.
When the Opera backed from its share in the lease in 1930, it had been left to become able to
Rockefeller himself to end up being able to shoulder the load. Faced without any tenants along along
with a 24-year lease associated with approximately $120 million within the center of a Depression-
-Rockefeller's job was obviously a daunting one.
The construction expense with regard to this kind of mammoth project has been enormous, and also
because involving the state with the economy, there is no assurance that will tenants could possibly
be discovered when the particular buildings had been completed.
Rockefeller decided to proceed. He consulted with numerous distinguished architects and also
builders, whom modified the actual original proposal, envisioning in its location a manufacturer new
"Rockefeller Center," being utilized being an totally commercial development.
For the life with the project, via 1929 to 1939, Rockefeller's expenditures about construction, taxes,
lease payments, and other aspects totaled $125 million--the equivalent of $1.5 billion today.
Astoundingly, Rockefeller received no earnings in the project along with recouped lower than half of
the actual richesse he had invested.
Nonetheless, John D. Rockefeller's willingness to go forward about the construction of Rockefeller
center in a period of fantastic economic distress within the nation provided much-needed
employment to end up being able to Ny Metropolis construction workers.
The turning point with regard to Rockefeller Middle came if this signed its initial tenant, the Radio
Corporation regarding America that agreed to become able to lease one million square feet involving
area regarding offices and also film theatres in the project's main building. Together With this main
tenant throughout place, architectural planning could go forward with regard to nearly almost all of
the actual site. Just as important, simply by aligning a new real estate project with radio along with
motion pictures--two of the era's nearly all thrilling technology and growth industries--a cachet was
made for Rockefeller center which has continued straight into a new century.
Despite its challenging beginnings, Rockefeller center became the universally acclaimed real estate
property. As John D. Rockefeller, Jr.'s youngest son, David, wrote concerning the center inside his
Memoirs in 2002, "The clean, bold thrust of its modernist lines along with rooftop gardens, gave it a
easy beauty, elegance, and also imaginative quality that will silenced even its harshest critics."
The danger taken by simply John D. Rockefeller, Jr., in the height in the Excellent Depression,
nowadays is an acronym as a model associated with urban design along with a centerpiece inside the
skyline regarding new York City.
The Riguardi Family
Combined, Edward and also Peter Riguardi have got more than 60 numerous a lengthy time of
commercial property experience of Manhattan. As Well As for your past 20 years they've got labored
collectively at some of New York's highest profile real-estate companies, establishing the particular
beginnings of a dynasty in certainly one of the most dynamic property markets inside the world.
Edward Riguardi may be known as the "Dean regarding Property Management within New York." He
pioneered the institutional approach in order to property management within Manhattan and was
among the first executives from your property management side of the business to end up being able
to end up running a full-service real-estate company.
Edward Riguardi launched his career within new York real estate from Williams Real Estate, where
he labored pertaining to 29 years. He rose in order to turn out to be among the firm's three senior
executive vice presidents and also served like a part of its six-man executive committee, which
oversaw the particular operations of the firm. In its peak, the particular Williams's portfolio
comprised nearly 30 million sq ft involving workplace within 200 Manhattan office buildings that will
boasted a lot much more than 5,000 tenants.
Peter Riguardi furthermore got his begin within the real estate company with Williams, operating
summer internship applications throughout secondary school and college. He joined the business full
in time 1983 after graduating via Iona College. Simply By 1986, Peter had risen towards the place
associated with senior vice president turning out to be able to be your youngest executive to reach
in which degree within the good status for the actual firm.
Edward as well as Peter Riguardi left Williams in order to launch Koeppel Tener Riguardi in 1989
using Edward serving as president, and also Peter as co founder and director with the firm's
brokerage division. Edward Riguardi produced KTR's property management group, that grew in
order to oversee more than six million sq . ft . regarding institutional property, and the actual man
additionally assisted Peter inside the growth with the firm's brokerage, consulting and also appraisal
businesses. Edward and Peter Riguardi were instrumental within expanding KTR's consulting and
also appraisal business.
In 1994, Edward and Peter Riguardi acquired KTR's leasing along with property management teams
coming from their partners in the firm, the particular Koeppel family. Your Riguardis merged your
units together with Abrams Benisch & Riker to generate Colliers ABR, along with Edward assuming
the role involving co-chairman, along with Peter taking the career of executive vice president. Peter
Riguardi also became the significant shareholder within the company. at Colliers ABR, the Riguardis
were crucial elements within boosting the company's profile and visibility inside the Manhattan real
estate market. Peter Riguardi completed major high-profile transactions such since the Metropolitan
Transportation Authority's 1.6 million-square-foot net lease in 2 Broadway, which remains the
particular largest leasing transaction in the history of New York. He also represented Morgan
Stanley in the progression of its 1.1 million-square-foot office creating in 745 Seventh avenue and
also had been responsible for coordinating Merrill Lynch's expansion and also real-estate strategy
within lower Manhattan.
In 2002, Peter Riguardi had been recruited simply by Jones Lang LaSalle Americas to always be able
to serve as president regarding its The Huge Apple office. He will be in cost of broadening your
company's new York platform, and immediately overseeing start up business development and
implementation as well as the implementation of a full selection of real estate services in the New
York, Nj along with Connecticut area. Edward Riguardi joined him for you to serve as managing
director in the company, providing senior oversight in the management portfolio as well as corporate
facility management upon just about all inside the new York metropolitan area, and also senior
advisory for the firm's management team.
In your greater than 2 yrs which includes Peter helmed Jones Lang LaSalle's new York office, he has
assisted advance Jones Lang LaSalle into a dominant marketplace player. Jones Lang LaSalle
provides landed one with the most prestigious assignments within Ny beneath his leadership,
including Bank of America's 1.1 million-square-foot lease as well as codevelopment agreement with
Durst Organization at 1 Bryant Park, your redevelopment of Madison Square Garden, any real estate
consulting assignment for your Port Authority on the rebuilding with the Globe Trade Center, your
redevelopment involving Governors Island, and in addition the redevelopment regarding Roosevelt
Island.
Edward and Peter Riguardi each worth their particular strong relationship and also family ties, and
also consider their own function relationship just a component of your strong father along with son
bond. Edward and the wife, Marie, have been married pertaining to 48 a long time and possess two
children, Peter and also oldest sister Sarah. Peter Riguardi and the wife, Linda, happen in order to
be married with regard to 20 years and have 4 sons Eddie, Peter Jr., Nicholas and Alexander.
Interestingly, Peter's oldest son, Eddie, whom recently graduated substantial school, is going to be
interning at Jones Lang LaSalle's new York workplace this summer. He will work with all the
company's project management group.
Jones Lang LaSalle will be the world's leading real-estate solutions and funds management firm,
operating across a lot much more than one hundred markets across the globe. Your company
provides comprehensive integrated expertise, such as management services, implementation
services and also investment management solutions on a local, regional as well as global level to end
up being able to owners, occupiers and also investors. Jones Lang LaSalle can be the particular
sector leader inside property and corporate facility management services, with a portfolio that could
reach over 835 million square feet under management worldwide. Throughout your The Huge Apple
region, Jones Lang LaSalle provides leasing and also management services with regard to 45 million
sq ft of office buildings.
For much more information, visit www.joneslanlasalle.com.
The Tishman Family
Tishman Realty & Construction Co., Inc., founded in 1898 through Julius Tishman, is nowadays
among the world's premier builders, real estate developers, and asset managers. Coming From its
original Owner/ Builder heritage throughout high-rise residential properties, the privately-held
organization has exploded for you to turn out to become able to be an ubiquitous existence in the
construction, real estate, along with hotel industries, whilst inspiring an entrepreneurial spirit
throughout.
The firm is actually led by Julius' grandson, John L. Tishman, the particular longest serving
Chairman inside the company's history; John's son, Daniel R. Tishman, who heads up most involving
its construction-related and technologies operations; along with John A. Vickers, who's responsible
for the company's real estate ownership hobbies along with resort management activities.
As a new builder, Tishman has a developing legacy regarding landmark achievements in order to its
credit, comprising a roster that includes facilities of each dimension as well as type. Getting
constructed more than 425 million sq . ft . of space, the actual firm's notable tasks of the Twentieth
Century range coming from the original world Trade center twin towers and also complex, as well as
restoration with the landmark Carnegie Hall as well as New Amsterdam Theatre within Ny City; the
John Hancock center in Chicago; The Actual Century city Theme center inside Los Angeles; and also
Walt Disney Company's EPCOT Middle inside Florida.
As a real estate developer and also owner, Tishman Realty features inside its portfolio such
prestigious properties as The Particular Westin new York in Occasions Square, Your Sheraton
Chicago hotel & Towers, the actual Walt Disney Globe Swan along with Dolphin resort hotels, along
with The Particular Westin Rio Mar Beach golf Resort & spa within Puerto Rico.
In the manufacturer new Millennium, Tishman Construction is actually engaged throughout
constructing new, landmark high-rises, such because the innovative Freedom Tower in the Globe
Trade center site, too as the new 7 world Trade Center, and also 1 Bryant Park/Bank of America
Tower within Midtown Manhattan. Tishman's resume of lately completed buildings consists of the
Conde Nast Headquarters, the actual Reuters Americas Headquarters, as well as Judy as well as
Arthur Zankel Hall--all inside New York; the actual Boston Convention & Exhibition center within
Massachusetts; and also the Strathmore Audio center in Maryland.
Beyond its shaping of urban environments, Tishman can always be a pioneer within advocating along
with implementing design as well as construction strategies to advantage environmental
surroundings as a whole. Within performing so, the actual firm is now among the actual nation's the
majority of acknowledged "Green Builders" for its unwavering leadership inside creating sustainable
creating procedures which continue to set your highest precedent along with each as well as every
successive project.
In add-on for you to its construction as well as real-estate arms, Tishman affiliates include: Tishman
hotel Corporation, specializing inside hotel operations, and also asset along with property
management; Tishman Property Services, a full-service, real estate advisor and brokerage
organization; Tishman Urban Development Corporation, specializing in joint public/private real
estate development; Tishman Technologies, serving the particular telecommunications as well as
24/7 world; as well as Tishman Interiors, that focuses on fit-outs of all types. Additionally, Tishman is
actually the sole firm inside the development/building business to possess its very own research
affiliate, Tishman Analysis Corporation, which in turn has pioneered a range of goods and also
techniques that will happen in order to be adopted by the commercial creating market as standard
practice.
The Tishman legacy isn't built in steel and also concrete alone. Underlying most the firm partakes
throughout can be a passion regarding impartial thinking, dynamic leadership, integrity, along with
commitment to education, the environment, as well as cultural affairs. Commitment to family,
business, and furthermore the communities where the firm does company have been constants all
through your storied reputation Tishman Realty & Construction, as may end up being the
understanding that will innovation, creativity, as well as staying true for you to ones core values are
important touchstones to longevity as well as success.
The Wien/Malkin Family
Among the particular esteemed Ny households in which built as well as sustained dominant positions
inside property across multiple generations, 1 features a particular distinction: it has flourished
consistently simply by making it easy for other people to ensure success in real estate.
Lawrence A. Wien came up with concept involving syndicating real estate within the 1930s, making
direct ownership regarding income property available to categories of individual investors for that
initial time. Inside the early 1950s, Mr. Wien furthered the actual concept simply by structuring the
very first public real-estate syndications, starting with 25 Broad Street inside Manhattan's financial
district. Any short time later, he had been joined through his son-in-law, Peter L. Malkin, and also
within the ensuing many years they will raised the actual firm for an even higher amount of
achievement together with landmark deals such as the acquisition as well as syndication in the
master lease in the Empire State Building.
From that period on, your Wien & Malkin family members has set the particular standard associated
with excellence in real-estate syndication, maintaining its focus on long-term value whilst securities
brokerages, investment banks along together with other entities often embraced faddish retail store
investment trends which frequently burned out.
In the particular late 1980s, Peter's son, Anthony E. Malkin, became president of the service arm of
the loved ones business, W&M Properties, as well as achieved a couple of fundamental objectives.
Anthony created a new vertically integrated, full-service business within support associated with
Wien & Malkin-led syndications, and in addition at the same time, shifted your acquisition target to
high-quality smaller properties that were not reaching their particular possible yet might be
rejuvenated together with better management and fresh capital. The Actual steep recession in the
early '90s shown a assortment of such outstanding turn-around opportunities.
Wien & Malkin investors reaped the actual returns of your briskly recovering real-estate
marketplace within the 1990s, as distressed properties acquired in favorable terms and also astutely
repositioned became thriving business centers and also multi-family communities. Within had been
at this moment around in which Wien & Malkin pioneered real estate "branding" using their
suburban Fairfield/ Westchester Counties W&M Properties portfolio.
As the newest millennium took hold, Wien & Malkin extended its achievement inside branding W&M
Properties to its core Manhattan syndicated properties, creating the W&H Properties manufacturer
beneath the guidance of Wien & Malkin Supervisory Services. It has been an immediate success,
establishing W&H buildings as superbly situated and modernized properties in which combine pre-
war style with most the best-in-class widespread areas and pre-built offices and a new lot up-to-date
technological and also comfort and also ease amenities. Yet Another key element will be proactive
management and also ready-to-do-business ownership.
Today, inside the encounter of your fully-priced real-estate richesse environment, Wien & Malkin
remains accurate to become able to its discipline, generating simply very selective acquisitions
whilst continuing to always be able to supply accredited investors a range of alternatives, including
mezzanine credit card debt along with preferred equity funds and alternative investment items
throughout real-estate as well as real estate-related securities. Additionally, inside the deal with
regarding higher octane pricing as well as low money gains tax rates, Wien & Malkin is selling
properties.
Continuity, planned succession, creativity along along with a disciplined approach towards the
marketplace are making the actual Wien & Malkin family members pre-eminent in real estate
syndication for greater than the half-century.
The Stacom Family
The Stacom Family Members includes a lengthy history within The Large Apple real estate.
William B. Stacom was a builder regarding houses around the Lower East side in the early 1900s.
Matthew J. Stacom Sr. would be a builder of non-public homes as well as commercial-industrial
properties upon Lengthy Island throughout the 1920s.
Matthew J. Stacom Jr., father involving industry brokers Tara and Darcy, and also among your
industry's best brokerage specialists regarding all-time, began together with Cushman & Wakefield
in 1946.
He became an officer, executive committee member, stockholder as well as director in the 1950s
and also 1960s and it is presently Vice Chairman, situated in Miami.
Among his many accomplishments, Matthew Stacom originated your sale involving Cushman &
Wakefield to the Rockefeller Team coming from RCA inside 1976, and was instrumental in Cushman
& Wakefield's acquisition in the 150-year-old European real-estate services firm, Healy & Baker.
His profession consisted regarding major leases and sales associated with workplace buildings all
through the United States, including the origination of the Sears Tower within 1968, which in turn
ended up being then a tallest building inside the world.
The Stacom Loved Ones employed at Cushman & Wakefield offers included your late Claire P.
Stacom, Stacy, Tara, Darcy, Matthew III as well as sons-in-law Eric Ossorio along with Chris Kraus.
Tara Stacom is actually Executive Vice President of Cushman & Wakefield along using a member of
the actual firm's Board associated with Directors. The Lady offers a lot a lot more than twenty many
many years of experience of landlord leasing, tenant representation, investment revenue and
corporate finance transactions.
Tara offers consistently been certainly 1 of the the majority of notable ten producers in the firm.
Inside 2004, the lady ranked number one worldwide.
She is actually most widely regarded on her prominent landlord leasing agency assignments and also
presently handles a new portfolio of properties in excess involving ten million square feet. Tara has
also excelled at handling complex tenant representation assignments upon behalf regarding a
handful of of The big Apple City's largest employers, which includes Bank regarding new York along
with Browsing Nurse service regarding New York. Your Woman continues to be concerned together
with many property sales, most notably 48 Wall Street, 485 Lexington Avenue/750 Third Avenue,
and 100 Park Avenue.
She is really a trustee of Lehigh university and is chairing a brand new initiative throughout Real-
estate Research inside the Enterprise College.
Darcy Stacom is Executive Vice President and also Companion of CB Richard Ellis. The Lady has
made a specialty of creating sales. starting along with bread along with butter ($15 for you to $30
million sales) in the mid 1980's your woman carved a niche that grew dramatically. Right After 23
years in Cushman & Wakefield, where your woman served on the Board involving Directors as well
as won the National Client services Award, your woman joined CB Richard Ellis exactly where your
woman runs your Investment Properties group inside Ny regarding CBRE. together with her team
she's got bought from excessive involving $15 billion regarding real estate in Manhattan as well as
several billion nationally. Within 1997 your woman ended up being nicknamed the particular "Queen
of the Skyscrapers" by the Wall Street Journal.
Both Tara and also Darcy are usually proudest to end up being able to simply be known as Matt
Stacom's daughters.
The Schor Family
Established from the Schor family, The Particular Treeline Companies, the premier, full-service
property ownership along with investment firm located in Garden City, presently owns and also
manages a lot a lot more than 1.5 million sq . ft . regarding strategically positioned commercial real-
estate in the NY Metropolitan area. Though Treeline's roots have been in long Island, its branches
extend all through the five boroughs of NYC, Westchester, as well as the greater Metro area, which
includes Nj-new Jersey along with Connecticut. Their Own confirmed and also successful approach
to investment along with property management continues to end up being able to be the result
associated with strong ties along with dedication to the communities they serve. Strategic
acquisition involving exceptionally located properties is the hall mark regarding Treeline's success.
the company is actually at present evaluating a diverse array of investment possibilities as its
company grows in order to a brand new level. Prime targets for acquisition include institutional
quality properties throughout your tri-state location that may benefit from their own confirmed
along with innovative techniques of enhancing value.
In 2005, The Particular Treeline Organizations will vastly broaden its portfolio by means of your
acquisition associated with Class A New workplace properties in NY, NJ and also CT, both upon its
own along with using institutional investor partners. Because the company meets this challenge,
they've maintained an outstanding reputation among brokers, tenants and the entire real-estate
community regarding impeccable ethical standards, proactive as well as responsive management
practices as well as intelligent and also versatile investment acumen.
Frances Schor, CEO involving the Treeline Companies, is definitely an experienced real-estate
professional along with certified real-estate broker whom began the woman's profession as an
investor by creating and supervising the particular renovations of brownstones, co-ops and also
condominiums. The Girl has forged Treeline's status being an aggressive development firm in most
areas of commercial real estate. with your ex husband Glenn, Ms. Schor continues in order to be
instrumental in creating the particular Treeline enterprise model plus creating Treeline's hands-on
approach to become able to property management as well as tenant retention. Your Woman
supervises property level operations in any kind of way Treeline properties.
As Chief Operating Officer associated with The Particular Treeline Companies, Glenn Schor directs
investor relations and it is accountable for property acquisitions and financing. Mr. Schor also plays
an integral role throughout Treeline's leasing activities, creating creative approaches to making as
well as closing lease deals. Glenn has over 3 decades experience of property as a developer, investor
as well as attorney. His extensive knowledge and the wide array of contacts in the business enable
him to be able to respond rapidly as well as completely for you to facilitate along with conclude deals
of remarkable complexity. He continues to evaluate the marketplace to discover possibilities with
regard to Treeline to execute its company plan.
Michael Schor joined the actual Treeline team after a productive tenure as an attorney within the
Enterprise Finance & Restructuring Department with the international law firm, Well, Gotshal &
Manges LLP. Whilst practicing as a possible attorney, he worked around the insolvency cases of
Macy's, Olympia & York, Barney's, as well as gained by means of that experience extensive
knowledge involving real estate finance and the restructuring associated with distressed real-estate
debt. In Treeline, Michael is responsible for just about all facets of the particular firms' real-estate
acquisition and also finance activities. He additionally oversees Treeline's legal department and is
actually also associated with complex leasing transactions along along with other legal matters.
Howard Schor joined the Treeline Businesses lately as Vice President of Strategic Operations along
with Planning. Howard oversees the actual strategic planning operations and also in-house
management involving Treeline's portfolio. Howard's task title has been produced by Treeline in
order to fulfill the demands regarding its corporate growth and expansion inside the new York
region. Howard ended up being formerly employed as Associate Media Director at the marketing
agency regarding Kirshenbaum Bond & Partners/ the Media Kitchen. He offers won a number of
advertising sector awards which includes the particular 2004 Gold Effie Award and the Cannes
Media Lion, Very Best Integrated Campaign, Silver 2003 with regard to his perform supporting the
actual campaign, "Steven Spielberg Presents: Taken."
The Maidman Family
The Maidmans certainly are generally a shining illustration of how 1 family provides stayed forward
by simply mixing fundamentals along with new ideas inside nearly six decades regarding doing
enterprise within the The Large Apple real-estate market.
Ever since the particular 1950s once the late William Maidman went coming from dress
manufacturing to end up being able to getting his very first building--a factory in 39th Street--the
Maidmans flourished simply by sticking with a new straightforward approach: Invest, manage, hold,
make investments some more, and when the price along with buyer are usually right, sell.
Today that will approach continues, albeit with cautious new direction, in the Maidmans' company,
Townhouse Management, below a team which include William's son, Richard H.M. Maidman,
Chairman and Managing General Partner; William's grandsons, Mitchel Maidman, President, and
also Gregory Maidman, Chief Operating Officer; and also Mitchel's wife, Arlene Maidman, Director
of Acquisitions.
The Maidmans possess a portfolio of over twenty residential properties together with 800 units
priced at an estimated $200 million. Many are five- and also six-story pre-war walkups along with
elevator buildings which usually the particular family members features bought and also renovated
over the years and thus are nearly usually completely occupied. Townhouse Management
furthermore operates more than 40 parking facilities using its affiliate The Particular Manhattan
Parking Group.
Last year, the actual loved ones created headlines after they sold the actual Chelsea from 160 West
24th Street pertaining to $93 million. Townhouse Management had bought the actual Chelsea jointly
together with Pine Equity N.Y., inside June, 2001, pertaining to $63 million, with total investment
after high closing costs along with renovation coming for you to concerning $74 million. Your family
members renovated and leased the whole creating as corporate housing in order to ExecuStay
Corporation, a subsidiary associated with Marriott International, Inc.
One commercial property the loved ones held a very long time last but not least does offer in a well-
publicized deal will be 113 West 42"d Street, which went for upwards of $13 million in order to
Douglas Durst as component of your Occasions Square assemblage.
"The events associated with September 11 prompted us to put aside various other concerns and
concentrate in reviving your plans for your way forward for this fantastic town. I'm positive this is
specifically what my father, William Maidman, might have wanted," stated Richard Maidman.
As part of the particular sales agreement, Durst ended up being needed in order to erect the plaque
about the new constructing he constructed in which commemorates the particular Maidmans'
original ownership and also its sale towards the Durst family.
Shortly after purchasing the particular Chelsea, the actual Maidmans undertook their many
ambitious project. they broke ground with 37th Street as well as Third Voie for the Aurora, a 32-
story, 133-unit, mixed-use corporate housing as well as luxury condominium apartment tower,
Marriott's initial ground-up corporate housing complex inside the U.S.
Opened inside the fall of 2003, the particular Aurora features 126 furnished studio along with one-
bedroom units on the 1st 25 floors leased for you to Marriott's ExecuStay as well as obtainable on
the 30-day minimum-stay rental basis. Townhouse is constantly on the manage the particular
physical operation for your Marriott. The Particular top seven floors of the Aurora are increasingly
being marketed as full-floor luxury loft apartments with regard to $4 million each.
Still an additional project that the Maidmans observed being an opportunity had been the acquisition
and also gut renovation involving 2 apartment buildings from 35-37 East 63rd Street into one
20,000-square-foot mansion, which could be getting marketed regarding S30 million.
The Swig Family
Founded inside 1936 simply by Benjamin H. Swig, Your Swig company offers set up an effective
legacy as a developer, investor, owner as well as manager within the commercial property market.
Via its base in San Francisco, The Particular Swig Business provides built a presence in a amount of
significant markets across the united States via ownership involving prominent office and resort
properties. The Particular Swig Organization achieved early renown because the force behind the
actual famed Fairmont hotel brand. The Business acquired the actual San Francisco Bay Area
Fairmont hotel inside the immediate post-World War II time period and also went on for you to flag
and/or develop hotels within Chicago, New Orleans, Dallas, Denver, San Jose, Ny along with Boston.
the flagship Fairmont Resort on Nob Hill in San Francisco Bay Area has been featured inside
numerous films along with television shows.
While the hotels were probably the particular most noticeable with the Your Swig Company's
holdings, the particular family steadily built a new main existence as a part developer, owner and
also operator involving prominent office buildings as well as other commercial properties over the
country. Throughout 1998, using hotel values in or near historic peaks, Your Swig company made a
strategic choice to offer nearly all its hotel holdings and also re-focus the actual portfolio on office
properties, new acquisitions and also development opportunities.
Today, your Company's workplace holdings comprise more than 11 million square feet and include
prominent and historic buildings in markets for example New York, Dallas, San Francisco, Oakland
along with Southern California.
Currently owned properties:
1114 avenue with the Americas
1411 Broadway
1460 Broadway
711 Third Avenue
7 Hanover Square
Buildings that will the Swig Organization features both built or owned, from 1 time, within new York
City, include:
777 Third Avenue
437 Madison Avenue
111 Broadway
115 Broadway
15 Park Row
290 Madison Avenue
292 Madison Avenue
21 East 41st Street
210 Livingston Street (Brooklyn)
468 Park Voie South
15 East 26th Street
80 Maiden Lane
1370 Broadway
Plaza hotel (Fairmont)
Two Fifth Avenue
405 Park Avenue
1065 Voie of the Americas
In addition, the actual Organization owns Penn Station throughout Newark, N.J. Penn Station is an
historic art Deco-era multi-modal facility, which, in addition towards the Metropolis Subway,
supports Nj Transit commuter rail, Amtrak long-distance trains, your PATH rapid-transit series to
end up being able to new York City, and also local, regional along with national bus services. the
station as well as property tend to be leased on the long-term time frame to become able to Nj-new
Jersey Transit. The Actual proprietors have got begun to investigate future opportunities, which
includes air rights and also development legal rights for your property, which, with current
improvements inside Newark's economic picture, are usually expanding much more attractive.
The Rose Family
The story of Rose Associates, Inc. begins in 1928, with the construction of the 216-unit, six-story
apartment building through David Rose throughout new York City. Today, the particular firm
operates all through the east Coast as developer and also manager regarding greater than 30 million
square feet of major office towers, commercial store centers, mixed-use complexes, and high-rise
residential buildings.
For eight decades, the firm provides demonstrated the particular skill as well as monetary strength
to become able to reply to a broad array of challenges, via large scale, new project development for
the rehabilitation as well as repositioning involving older properties. As the result, Rose is actually
increasingly motivated to provide development consulting and property management expertise by
leading financial as well as investment firms.
The Rose operating philosophy favors enduring, long-term relationships, along with choices
according to any long-range perspective developed more than years of ownership experience. This
particular emphasis on creating capital worth may be the inspiration involving lasting associations
along with prominent banking institutions along with real-estate investors.
Born throughout Jerusalem, David Rose inside 1892 along with Samuel Rose in 1890 began Rose
Associates throughout 1927. Amongst their best identified projects has been the actual Banker's
trust Organization on 280 Park Voie at 48th Street. Inside his later on years, David Rose took a
powerful curiosity about healthcare technology. He played a main portion inside the design and
construction of a special pressurized surgery chamber in Mt. Sinai Hospital within New York. He
furthermore acted like a advisor within the design as well as construction associated with Hadassah
Hospital within his native Jerusalem at the particular Salk Institute throughout La Jolla, California.
He died throughout 1986 at the chronilogical get older of 94.
Samuel Rose died upon September 3, 1964 at the age of 74. He would end up being a furrier as well
as being a founding partner regarding Rose Associates along with his brother. In add-on to 280 Park
Avenue, additional buildings constructed through the Rose brothers tend to be 300 Perk avenue
along with one Battery Park Plaza. Rose Associates in addition owns 344-46 East 58th Street; 771-85
Broadway, 1441-55 2nd Voie as well as 2-8 William Street to become able to identify any few. 60-68
East 8th Street and 45 East 89th Street was developed by Rose Associates.
Samuel Rose's son Frederick Rose (1923-1999) had been accountable for a pair of dozen main
apartment tasks as well as an equal variety of institutions which adorn the new York skyline. Inside
1999, he supervised the particular construction of a 50 story apartment house, the Belvedere, on
29th St. among 5th & Madison. In exactly your same time, he oversaw the creating of Frederick
Phineas as well as Sandra Priest Rose center pertaining to Earth along with Area that now houses
your Hayden Planetarium in the Museum regarding Organic History. Rose donated $20 million and
also acted as Project Leader for the trustees.
Along with $15 million gift to Lincoln Center, he supervised the building of the particular 31-story
Rose Constructing in which houses rehearsal room along with dormitories regarding musicians &
students with Juilliard, NY Philharmonic as well as the school regarding American Ballet.
All informed he donated $95 million to the cultural institutions involving NYC.
Today, Rose Associates provides full-service project responsibility-from original concept for the last
finishing detail. Your firm integrates its abilities within finance, planning, construction, project
administration, marketing, as well as property management using the talents with the nation's most
innovate designers, consultants, and also planners.
The Trump Family
Before there is "The Donald," there was merely Fred C. Trump, one of the last involving new York
City's excellent major postwar builders. Mr. Trump, like Sam LeFrak, an additional master builder,
assisted change the facial skin of Brooklyn and Queens together with 1000s of homes for the center
class in plain but sturdy brick rental towers, clustered with every single other inside immaculately
groomed parks. Even though overshadowed inside the news for your final two decades by his
flamboyant son Donald, Mr. Trump, a new self-made man, built more than 27,000 apartments and
row houses inside the neighborhoods associated with Coney Island, Bensonhurst, Sheepshead Bay,
Flatbush, and also Brighton Beach inside Brooklyn as well as Flushing along with Jamaica Estates
within Queens.
Frederick Christ (pronounced Krist) Trump was born throughout The Large Apple Town within 1905.
His father was a barber that arrived via Kallstadt, Germany, in 1885 along with joined the particular
Alaska gold rush. by your flip of the century, he owned your White Horse Restaurant as well as Inn
throughout White Horse, Alaska, while furthermore supplying meals as well as lumber to the miners.
He went back again to Germany to court his neighbor Elizabeth Christ and married her in 1902. Any
time that they returned for you to New York, they settled down in the single-family residence in
Woodhaven, Queens. They Will had 3 children; when Fred C. ended up being 13, his father died of
pneumonia.
Two a prolonged time later, with 15, he started their own construction business although continuing
his high school education. He knew he was too youthful to build entire houses, thus he thought
regarding creating housing for the new mode of transportation then sweeping the particular nation;
after all, individuals newfangled automobiles necessary garages. As Well small to become able to
signal checks, he became partners along along with his mother, Elizabeth: they called their own
organization E. Trump & Son. His mother, who was a dynamo within her very own right, had been
your companion who signed the actual checks.
Their enterprise was a success, along with certainly one of the items he did along with his earnings,
his sons said, ended up being to assist send his younger brother John to Brooklyn Polytechnic
Institute, then to Columbia with regard to his master's and then for the Massachusetts Institute
regarding Technology, where he received his Ph.D.
When he soon started with Brooklyn Poly, John Trump had been planning to turn out to end up being
able to be an architect also to get into business together using his brother Fred. Your a pair of truly
built 1 as well as 2 houses together, yet before long, they realized that these people had 2
completely different philosophies.
As he grew older, Fred Trump began creating single-family houses inside the late 1920's--most of
them throughout Queens--which were sold with regard to $3,990 each. The Particular concept of
supermarkets ended up being new back then, too, and when Mr. Trump built Trump Industry inside
Woodhaven within the core Depression and also advertised, "Serve Your Self and also Save!" it
absolutely was an instant hit. Concerning annually later, Mr. Trump sold the shop to find a profit
towards the King Kullen chain.
In Globe War II, Mr. Trump built barracks and garden apartments for that Navy within Chester, Pa.,
Newport News, and Norfolk, Va. Once the fighting ended up being more than along with apartments
regarding returning servicemen in addition in order to their family members were in any nutshell
supply, he branched out directly into middle-income housing; he built Shore Haven throughout
Bensonhurst in 1949 and also Beach Haven near Coney Island your next year for any total of 2,700
apartments. Within 1963, he set up the particular 3,800-apartment Trump Village throughout Coney
Island--five years following his contemporary, Mr. LeFrak, began Lefrak Metropolis throughout
Queens.
"He made a excellent contribution; he filled an extremely huge hole inside the market," Mr. LeFrak
recalled. "We took Queens; he does much more throughout Brooklyn. He would become a excellent
builder who rallied towards the cause such as we did; he built housing for the returning veterans. I
guess you can say we're the last of the old dinosaurs."
In 1936, Mr. Trump married Mary McLeod, which had come to this country when she ended up
being 19 through Stornoway, Scotland. Miss McLeod had a couple of sisters whom lived throughout
New York; shortly after the girl arrived, her sisters took your ex into a dance, where the girl fulfilled
Fred Trump. They Will had 5 children. Furthermore to his wife and his sons Robert and also Donald,
he's survived through a couple of daughters, Maryanne Trump Barry of The Large Apple City, who
can be a Federal judge, along with Elizabeth Trump Grau of Ny City. another son, Fred Trump Jr.,
died in 1981.
In your recession with the 1970's, Mr. Trump, that retained ownership regarding the majority of
your rental buildings he built, started buying up apartment buildings from other builders, that had
come across problems trying to keep up their properties. Based on Edward S. Gordon, an industrial
property executive, Mr. Trump amassed the actual buildings inside a "very quiet way." Mr. Gordon
praised Mr. Trump's business acumen, saying, "Most smart men and women paid out interest
towards the ball; Fred Trump targeted around the shadow in the ball."
In the mid-70's, Mr. Trump lent support--and a new small amount involving money--to his son
Donald's aspirations regarding becoming a developer. "But what he lent has been mostly knowledge;
Donald really made it happen upon his own, together with whatever boost he got through getting
Fred Trump's son, regarding course," Robert Trump said.
Donald Trump mentioned he was happy his father stuck in order to Brooklyn and also Queens. "It
was great for me," the actual developer said, chuckling. "You know, becoming the actual son of
somebody, it could are already competition to me. This kind of way, I got Manhattan just about all in
order to myself!"
Fred and also Mary Trump donated the pavilion that will bears your Trump title to the Jamaica
Hospital Healthcare Middle inside appreciation in the care received there simply by Mrs. Trump.
That They gave the wo-building rental complex throughout Brooklyn towards the National Kidney
Groundwork regarding New York/New Jersey and to community Mainstreaming Associates of great
Neck, an organization that will provides homes regarding functionally retarded adults. Mr. Trump
gave another creating to the Cerebral Palsy foundation regarding new York and also New Jersey,
that provides since turned it directly into co-op. He additionally supported the actual Hospital with
regard to special Surgery throughout Manhattan, the Extended Island Jewish Hospital as well as the
Kew Forest College in Queens, exactly where his children went along to school.
Fred's son Donald J. Trump, might possess a different personality, but he also will become the very
meaning of the particular American good results story, continually environment your standards of
excellence although expanding his pursuits inside real estate, gaming, sports and entertainment. He
is a graduate of the Wharton Institution of Finance as well as began his enterprise profession within
a company office he shared with his father.
In new York City. your Trump signature will be synonymous with the most prestigious involving
addresses, among them your world-renowned Fifth avenue skyscraper, Trump Tower, the particular
Trump International Resort & Tower, voted your best US Resort by Conde Nast Traveler, Trump
world Tower in the Un Plaza, 40 Wall Street, and Trump Park Avenue. Besides New York, he's
involved in developing properties across the nation, along with projects inside Chicago, Las Vegas,
Miami, Atlantic City, Los Angeles, as well as Palm Beach. Mr. Trump's portfolio also includes 4
award-winning golf programs throughout New York, New Jersey, Florida as well as California, as
well as the historic Mar-a-Lago Club in Palm Beach, Florida.
The Macklowe Family
Macklowe Properties was founded within the mid-1960's by simply Harry Macklowe, your chairman
with the company, whom at present runs the organization throughout conjunction using its
President, William Macklowe. for yesteryear 40 years, the organization continues to become able to
be a dynamic along with lucrative developer, acquirer, redeveloper, owner, and also manager of a
diverse selection of real-estate investments. the organization offers successfully achieved a full level
of vertical integration, combining design, planning, construction, management, accounting, along
with executive-level ownership as well as operation to provide regarding absolute responsibility and
treatments for its assets. These kind of investments, that have covered virtually each along with
every sector with the property market, have included the development, acquisition, and also
repositioning involving workplace as well as apartment buildings, terrain assemblages, as well as
conversion involving industrial along with loft properties. Within your aggregate, these
developments have totaled over 10 million square feet as well as have taken place in practically each
commercial along with residential submarket regarding Manhattan. the organization at present
owns approximately three million sq . ft . associated with work place along with 1,700 apartment
units.
The company's diverse capabilities as well as proven achievement in closing transactions as well as
completing projects provides managed in order to get a favored counterpart in transactions together
with monetary institutions, tenants, brokers, as well as other property owners inside the Manhattan
property community. These types of longstanding relationships possess yielded use of acquisition
and development opportunities prior to they're widely marketed, causing lower acquisition along
with start-up expenses than others which may most likely become incurred beneath the competitive
bidding process. The Actual ultimate objective along with mission involving Macklowe Properties
offers always been the particular advance of secure and also highly profitable property investments
that may sustain and also develop via most enterprise cycles. Moreover, our diversified portfolio
approach provides enabled us to adopt good thing about multiple and also synergistic investment
opportunities along with build a diversified income stream to give a stable basis pertaining to growth
through marketplace cycles.
The Uris Family
By creating more than 13 million square feet involving office space inside seventeen skyscrapers
within new York between 1945 as well as 1971, Percy and Harold Uris reshaped your midtown
Manhattan skyline and stimulated the expansion of new commercial districts inside the city.
The sons of the Russian immigrant ironworker; the 2 brothers usually knew they will would adhere
to his or her father, Harry H. Uris, straight into business. with him, they built the actual hotel St.
Moritz and Buckingham Hotel. Right After school they will formed a excellent investment building
firm, as well as through the 1920's designed, constructed, as well as owned apartment houses. A
Amount Of of those buildings included one University Or College Place, two Sutton Place, and also
880 and 930 Fifth Avenue; they are among Manhattan's many desirable residential addresses today.
Your depression curbed their activity, however, and also the only creating the actual brothers do in
your course of world War II was protection housing for your federal government.
After the actual war, however, the Uris brothers came to their own. That They built workplace
towers from 380 Madison Voie (the web site associated with that old Ritz-Carlton Hotel), from 300
Park Avenue, and additionally at Lexington Voie in 46th Street. in 1959 these people formed a new
public corporation, together with each brother retaining thirty percent in the stock.
The brothers were a team. Percy, trained inside economics from Columbia, handled the particular
financing along with mortgaging arrangements, along with Harold, having a civil engineering degree
from Cornell, ran the construction side of the firm.
Their main tasks adopted incorporation. They Will opened two Broadway in 1959, and the ITT
Creating (320 Park Avenue) and the Western Publishing Constructing (850 Third Avenue) inside
1961. Your next year the particular RCA Communications building (60 Broad Street) and the Sperry-
Rand building (1290 avenue in the Americas) had been completed. The brand New York Hilton (1335
avenue in the Americas) registered its very first guests throughout 1963, and also J.C. Penney moved
directly into its new corporate headquarters with 1301 avenue of the Americas the year after. the
Uris brothers finished the actual American Tobacco Business Constructing (245 Park Avenue) in
1967, as well as the Very first National Town Bank Operations Middle (111 Wall Street) inside 1968.
The Actual brothers' last significant Ny projects were 1663 Broadway (1970), a workplace tower
cum genuine theatre, as well as 55 H2o Street, (1971).
Besides this phenomenal activity, each brothers were generous philanthropists, providing of his or
her time and power also as money. Percy served Columbia because the president's assistant for new
construction, so when the particular donor of a hall for that Graduate Institution associated with
Business. There is a Uris Hall in Cornell, too, exactly where Harold funded significantly campus
construction and renovation as well.
Percy died in 1971 in the age of 72, leaving Harold in charge of what had become the nation's
largest publicly owned investment constructing company. Harold chose never to carry on with out
his lifelong companion and marketed the business towards the National Kinney Corporation in 1973.
He died at 76 inside 1982.
The Zeckendorf Family
William Zeckendorf took Daniel Burnham's guidance to "make simply no small plans" quite definitely
in order to heart. His gift for recognizing "a excellent piece of land" along with conceiving of your
"suitable edifice" because regarding it transformed dozens involving underused new York acres in to
offices, hotels, housing projects, parks, as well as the headquarters of the United Nations.
Born in Illinois throughout 1905, Zeckendorf grew up in the Bronx and also attended new York
University. Throughout 1925, during his this past year involving college, an uncle place him in
control of renting among his workplace buildings. Zeckendorf filled the building together with
tenants and promptly left your School for that property profession. He brokered regarding Leonard
S. Gans coming from 1926 to become able to 1939, earning a new partnership throughout 1930. in
1937 he negotiated a purchase to get a rival business Webb & Knapp, plus a year later joined these
as vice-president. Webb & Knapp, ended up being then a fairly conservative organization in which
managed concerning 60 million money valuation on property. Zeckendorf vastly broadened Webb &
Knapp's horizons, attracting clients similar to Vincent Astor, whose commissions contributed
handsomely towards the company coffers.
As his financial sources increased, Zeckendorf's plans regarding grand real-estate tasks took a
sharper definition. Inside the actual early 1940's, he assembled parcel within Flushing, exactly
where he hoped to construct shopping center, hospital along with hotel complex connected by
underground walkways, but these structures had been in zero way built. Throughout 1946
Zeckendorf had compensated $6,000,000 for that Swift as well as Wilson slaughterhouse property at
the East River and 42nd Street, eight fetid acres whose odor was a nuisance to become able to close
by Sutton Location as well as Tudor City. He envisioned constructing a huge platformed community
associated with offices, apartments, shops, opera along with convention halls, the 6,000-room-hotel
using yacht slips as well as helicopter pads. Nevertheless he can find absolutely no investors for "X
City," and also the territory lay fallow. However, Zeckendorf was aware of your dickering more than
a web site for the Un headquarters. Just because the UN involved to begin looking at territory in
Philadelphia, he offered this parcel. John D. Rockefeller II purchased $8,500,000 and presented it to
the City. While any result, Ny became the planet organization's residence and also Zeckendorf
reaped praise and also profit. He often referred to be able to this transaction as his "capstone"
achievement.
In 1949 Zeckendorf became the sole owner associated with Webb & Knapp, along with three years
later he set up your Webb & Knapp Construction Corporation in order that the business could be
also general contractors for its extremely own projects. The Particular 1950's observed Zeckendorf
transfer in several directions. He built Roosevelt Field, among the initial significant suburban
shopping malls within the metropolitan area, around the former airfield on Lengthy Island. He
developed an office park throughout Westchester. He began trading within significant hotels along
with office buildings, holding, from one time or even other, the particular Astor, St. Regis along with
Drake Hotels, as well as the Graybar and also Chrysler Buildings. He also attracted financing with
regard to a large textile middle constructing with 1407 Broadway.
In the mid-1950's, Zeckendorf used the purpose for urban redevelopment too, turning out to become
able to be among the nation's leading developers regarding urban housing. He replaced slum
tenements along with huge new apartment projects: Lincoln Towers, having its over 4,000 units
adjoining Lincoln Center, set happens for the renewal with the upper west aspect involving
Manhattan; Park West Village about its 23 acre web site provided housing for almost 2500 families;
along with Kips Bay Plaza, designed simply by I.M. Pei & Associates, ended up being certainly
certainly 1 of the actual handsomest urban renewal projects.
In addition for you to his record of enormous accomplishment like a builder, Zeckendorf's uncanny
capacity to spot places with guarantee led the way in which pertaining to other developers as well.
Regarding example, his unrealized strategy to end up being able to erect a big hotel at the corner
regarding 51st Street and Sixth avenue attracted some other resort developers to Manhattan. Also
his short-lived American history amusement park within the Bronx, known as "Freedomland" (one
associated with the first "theme parks") ended up being eventually recycled into the website for that
massive Co-op Metropolis residential complex.
Zeckendorf's impact had been felt not just throughout New York, but also in the redevelopment of
Montreal along with Denver and the construction associated with Century city within Los Angeles.
Today, the particular Zeckendorf tradition will be carried in William Zeckendorf's grandsons,
brothers Arthur along with William Lie Zeckendorf. Since 1994, Arthur and William Zeckendorf
happen to be principals within approximately $200 million of real-estate development along with
acquisitions, including 2,000 condominium apartments. That They tend to be proprietors along with
Co-Chairmen involving Terra Holdings, LLC, which owns as well as operates numerous property
support firms including Halstead Property Company.
In 1995, the actual Zeckendorf brothers developed the Millennium Tower, the 75-unit condominium
in the top your Lincoln Square condominium, throughout partnership along with Sumitomo Real-
estate sales as well as Goldman Sachs & Co. These People have got additionally been active since
1994 in numerous advertising sales efforts which includes the actual sales associated with third
events regarding CitySpire, the Ansonia and the Mondrian condominiums.
The Elghanayan Family
Rockrose Development Corp., an owner-builder-manager with a track record of architectural
excellence, sensitivity to neighborhoods along with cautious management associated with its
projects, has been founded more than 30 years ago through the 3 Elghanayan brothers, Henry,
Thomas and also Frederick. Named after the block they spent my youth upon throughout Queens,
Rockrose Place, the business began with the renovation involving brownstones about West 16th
Street throughout Manhattan. Via his or her difficult perform along with perseverance, Rockrose
steadily expanded for you to new apartment construction, significant scale rehabilitation, and major
workplace development.
Rockrose has completed 39 projects and presently provides 3 projects under construction totaling
more than ten million sq . ft . associated with space and also 7,500 apartments. Numerous regarding
their particular tasks are already achieved using favorable public review and also style awards
through landmarks and also government departments at the city, state along with federal levels.
among these award-winning projects are the 232-unit River Rose Apartments throughout Battery
Park City's South Cove; Tribeca Point, a new 350-unit residential building within Battery park City's
North Cove; your 470-unit Archive; your 337-unit Turtle Bay Towers; along with Carnegie Hall
Tower, any 535,000 square-foot Class The office building about 57th Street inside Manhattan.
In significant part, the particular Elghanayans' success can be attributed to next a new
straightforward business philosophy: select tasks carefully, strategy rigorously and also manage
intensely. To End Up Being Able To ensure steady performance, Henry, Fred and also Tom oversee
in-house departments in Rockrose pertaining to each development, including acquisition, design,
construction, marketing and advertising and management. This kind of hands-on operational style
assures efficiency, controls costs along with maintains quality.
The Winter Family
"Such things as luck, hunches along with speculative tips play a new relatively small portion in
progress. It can be mastery of one's topic and conservative dealing that have brought achievement
to those that have got it."
Benjamin Winter Sr., among the initial of New York's nearly all prominent self-made real estate
entrepreneurs spoke those phrases in the newspaper interview within the 1930s. Today, the
company, a new fourth generation, family-operated private owner-developer as well as manager
involving commercial, residential, store and industrial real estate in which nevertheless bears his
name, the Winter Organization, upholds these exact same principles. Still targeted on the
contemplative research associated with key markets and also long-term yet opportunistic investing,
Ben Winter and his awesome brother Jim, Benjamin Winter Sr.'s grandsons, in supplement to Ben's
son, David, adhere towards the prudent conservative strategy involving his or her founder, which
usually has become the particular hallmark in the company.
The story associated with Winter Months Organization begins within 1901, when in get older 19,
Benjamin Winter Sr. emigrated via Poland for you to New York. Benjamin Sr.'s father, which had
arrived within the united States a year earlier, took his son for you to see the excellent mansions
associated with Manhattan, which includes the actual Astor and Vanderbilt homes, the actual really
day he arrived in America. Although the elder Mr. Winter instructed his son that will America was
indeed the particular terrain associated with opportunity, he by simply no means could get imagined
his son would, just a decade later, arrive at personal both properties.
Through diligent study, Benjamin Winter Sr. quickly discovered how to purchase and sell well-
located properties inside rising neighborhoods. His investing prowess ended up being venerable--in
any mere twenty years, he had had become the foremost realtor involving his generation together
with half a billion money in revenue in order to his credit. Inside one 12- yr period, he executed
approximately 300 real estate transactions along with by absolutely no means when failed in order
to understand any profit. His portfolio of prominent properties found include the hotel Delmonico,
the particular Stanhope, the actual Resort Lenori, the Spanish Flats as well as numerous residential
properties alongside Park and Fifth Avenues.
In your 1950s, Marvin Winter, Benjamin Winter Sr.'s son, assisted develop and solidify the
investment philosophy which includes now characterized Winter Months Organization for almost a
new century. Following returning coming from military support along with consolidating his late-
father's holdings, Marvin Winter continued to always be able to emphasis around the new York
property market. Whilst Benjamin Winter Sr. has been certainly 1 of the most very regarded
pioneers within the opportunistic trading associated with real estate, Marvin Winter created a belief
in establishing and holding well-located properties for your long-term. A Few with the property
assets inside the Winter portfolio today are already held for upwards of 50 years.
Now inside its fourth generation, Winter Months Organization, currently well-entrenched in the fiber
of the Ny Area real estate market is poised in order to turn out for you to be an even more prominent
national investor in the years ahead. yet the particular old-fashioned rules associated with tough
work, dedication to purpose and conservatism inside investment will often be its guiding force.
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