Great real estate families. - Free Online Library

Great real estate families. - Free Online Library
The Durst Family
At the actual flip with the 20th century, any younger immigrant arrived from Ellis Island with his life
savings--three dollars--sewn into the lapel of his coat. Joseph Durst, a new charismatic along with
tough operating man, found America a hospitable location for entrepreneurship plus 1915 made his
first Manhattan real estate purchase, a tiny workplace constructing about 34th Street.
So began The Actual Durst Organization, which, nearly any century later--under the existing
leadership of cousins Douglas as well as Jonathan (Jody) Durst as co-presidents--ranks amongst New
York's largest and any lot highly regarded family owner/developers, using a worldwide leadership
role in the environmental development and sustainable energy movements. (A fourth generation is
actually currently mastering the business in the ground up.)
Seymour Durst, Joseph's son, joined his father in the 1930s, as well as later on set happens for any
long period regarding rapid growth by means of the number of territory assemblages in both the
particular East as well as West sides involving midtown Manhattan. Seymour, whom writer Tom
Schachtman when called "the premier property assembler involving his generation," skillfully
steered the firm through volatile economic cycles. Through the actual '80s, he had set up the Durst
Organization like a significant owner about Third Voie along with Voie in the Americas, using a
midtown office constructing portfolio regarding greater than five million square feet.
As the particular decade came to an end, Douglas Durst engineered a near-miracle, negotiating a
new inventive agreement for the IRS to take a major portion associated with 1133 avenue in the
Americas, having a separate entrance in a "building inside the building" arrangement.
A couple associated with years later, in the dramatic show associated with faith for your rebirth
regarding times Square, the Dursts initiated an additional growth cycle with their bold spec
progression of 4 times Square, the district's initial new workplace building throughout decades. An
immediate success, the actual 1.6-million-square-foot tower became the home in the Conde Nast
global publishing empire and also headquarters of international law firm Skadden, Arps, Slate,
Meagher & Flom.
Equally important, 4 Occasions Square emerged as getting a model with regard to environmental
design, winning awards and setting new standards regarding indoor air top quality as well as
innovative sustainable energy management systems, h2o conservation, sustainable building
materials, construction as well as clean-up methods.
Durst's existing tasks push "green" development even further. the 2.1-million-square-foot Bank of
America Tower with one Bryant Park, below construction upon West 42nd Street, inside a co-venture
along with Bank involving America, is actually attracting worldwide attention pertaining to its
innovations inside conservation and also convenience features.
The Helena, the 597-unit rental creating with 11th Voie as well as West 5Th Street, is predicted to
turn out in order to be certainly 1 of the initial multi-family buildings for you to make gold LEED
certification (Leadership throughout energy along with Environmental Design) in the U.S. Green
Buildings Council.
A third main current project, an unusual mixed-use development co-ventured along with Sidney
Fetner Associates as well as the Franciscan church, similarly reflects the Durst loved ones zeal for
environmental sensitivity within design along with construction.
Jonathan, a new mechanical engineer by training, says the company's commitment to green
development "demonstrates that respect for that environment enhances productivity and the bottom
line. a healthier operating environment along with reduced power expenses benefits each owners
along with tenants."
Douglas, co-chairman of the friends regarding Hudson River Park, and also chairman associated
with New water Taxi, is a potent advocate of creating better technique city's rich waterfront
resources.
"The park is actually opening New York's magnificent waterfront with the addition of more than 500
acres associated with public facilities, contributing immensely towards the city's standard of living
as well as economic well being," says Mr. Durst. "New York is actually blessed with rivers, and that
will we believe they will be a new expanding factor in our magnificent city's future development."
The Dolgin Family
When Kalmon Dolgin, any supermarket owner through Russia, determined to begin any real-estate
brokerage business in Brooklyn, he probably had not a new clue which 100 a long time later, his
great-grandson could be handling your firm's new investments.
Four generations associated with realtors along with investors in Kalmon Dolgin Affiliates Inc.
possess expanded throughout the bridge in order to Manhattan, The Actual Bronx, Queens, Lengthy
Island, lower Westchester, Connecticut, new Jersey along with beyond, trying for you to keep a
minimal profile, nevertheless amassing an impressive portfolio of commercial as well as industrial
real-estate up as well as on the East Coast.
For Dolgin's grandson, also named Kalmon Dolgin, 62, the accurate secret towards the business's
good results provides rested in organization the ones skills.
"Most loved ones concerns never allow it to end up being able to be past the next generation,"
Dolgin said. "It requires an extremely special balance regarding interpersonal relationships,
professional respect along with planning in order for you to integrate the various skills that are
essential for each succeeding generation."
Dolgin said the firm's longevity rested on the firm's commitment to organization and also expansion.
The Particular Dolgin firm's investment wing was published in 1943, if the founder's sons, Morris
and Israel Dolgin, bought his or her very first building on Hope and Roebling streets inside the
Williamsburg portion of Brooklyn.
The organization continued to be able to grow, with Israel's 2 sons, Kalmon along with Neil
becoming a member of in the late '60s as well as '70s respectively. their investments expanded
straight into construction of office buildings along with shopping centers, healthcare plazas along
with industrial conversions over the East Coast. Divisions had been extra within the particular firm
pertaining to appraisal and third-party management. Kalmon Dolgin Affiliates operates a pair of
brokerage offices in Brooklyn and the Bronx, with a Extended Island affiliate in Stony Brook. more as
compared to 40, full-time brokers offer transactional representation regarding building owners,
tenants, sellers as well as buyers. Upon the particular creating management side, the actual firm
applies its accounting, architectural as well as operational solutions in order to a lot more than five
million square feet of space. Likewise, Kalmon Dolgin Affiliates' appraisals are recognized in each
and every court for almost all purposes involving valuation.
The goal in the firm, Dolgin said, features always been "to construct on the foundation, boost its
stability, and for an expansion inside new directions that develop a whole that's higher than a sum
involving its parts," he said.
The company's workforce has exploded through two to 60 men and women, such as people
specializing within professional support, accounting and also management.
But since involving commuting situations, well-spread clientele and also smaller sized scale
operations, the company has never believed involving relocating to be able to Manhattan, choosing
instead to remain in Brooklyn, in accordance with Neil Dolgin, 53.
"We're very happy within our small situation being the important fish within the small pond," Neil
Dolgin said, also noting the firm's diverse clientele. "Every distinct sect an individual may possibly
think of is actually situated in along with around our outer boroughs."
Diverse age groups are generally represented within Kalmon Dolgin as well, ranging from Israel
Dolgin, which until his current death in 92 was still working in the firm's Richardson Street offices,
to become able to Josh Dolgin, 33, Israel's grandson.
And last year, Kalmon added, has been "one of our own banner years."
"We were able to take benefit of the recovering economy along with a resurgence inside the outer
boroughs, as well as the proven fact that we expanded our presence inside New Jersey, Florida and
the few various other sections on the eastern seaboard."
For Josh Dolgin, who handles the particular firm's new acquisitions and also financing, getting to the
real-estate business was obviously a no-brainer from childhood.
"I was always thinking about playing my father discuss work--a lot more, I think, compared to my
other brother as well as sister," he said. "I consider I often knew, since I had been five, which this is
exactly where I would be."
The Gural Family
Aaron Gural taught his son in which a new handshake ended up being of your exact same quality like
a contract. Decades later, in which philosophy can be nevertheless among your core beliefs in
Manhattan-based Newmark, one of the actual largest independent property firms inside the United
States.
"That's one of the particular advantages of the loved ones business. Individuals determine if that
they shake my hand or my son's hand, then they use a deal," explained second generation Chairman
Jeffrey R. Gural, whom currently functions with his son Eric, his sister Jane along with nephew
Brian.
Jeff Gural, 62, inherited the chairman title in Newmark several years ago when his now 88-year-old
father stepped down since of declining health. However, he has been currently any principal owner
with the company, and ended up working together with his long-time partner, Barry Gosin to take
the organization for you to new ranges since 1978. Inside the past decade, Newmark has gone
coming from primarily an owner and manager of Garment District and other secondary buildings
throughout Manhattan in order to a premier national brokerage firm.
It has evolved through an old-line new York city property loved ones firm to always be able to a more
diversified leasing and also managing agent to a significant regional along with national player
together with worldwide offices employing almost 800 people.
Gural and his awesome partners own a portfolio of over 8 million sq . ft . of property, which includes
the particular landmark Flatiron Building. Annually, the actual firm completes a lot much more than
25 million sq ft associated with transactions, priced at practically $9.5 billion in total consideration.
Additionally, Newmark manages and/or leases more than 50 million sq ft involving commercial room
nationally.
The firm has remained lucrative along with secure through numerous economic cycles, and also
expanded with a occasion when many competing firms have got contracted.
Jeff Gural credits family ownership--and family values--for a sizable part of the particular firm's
success. "As a private company, we have got been in the position to create decisions quickly. We
don't get to create decisions depending on shareholder return or perhaps worth perception," Gural
explained. "We could depend on experience along with instinct, as well as use a really hands-on
approach to always be able to our business."
Gural stated he and Barry Gosin were decided to grow the business while maintaining the actual
values upon which it absolutely was established. "There is actually no more important to my father
than integrity. That's some thing he passed onto his family, and something we never lost sight of
even as we had been expanding as well as growing," he explained.
Aaron Gural is widely viewed as among the elder statesmen with the property sector in New York.
He climbed your ladder through a company office boy with Spear as well as Company--a firm started
simply by 2 associated with his uncles--while while joining college full-time within the 1930s. Aaron
Gural created his mark like a broker inside the Garment District prior to opening their own
organization inside the 1950s. Following several years about his own, he joined Harris-Newmark, a
organization founded inside 1905. He rose for you to companion and also a range of his colleagues in
the firm subsequently bought it when Dave Newmark retired along with Aaron became chairman.
Jeff Gural had been introduced for the business as they was still throughout college. He worked as
an elevator operator in the Newmark building between semesters whilst earning his diploma within
Civil Engineering via Rensselaer Polytechnic Institute.
After graduation, he left Ny for you to perform for that State regarding California as an engineer on
public works. two a long time later he had been again inside New York, paying the actual
subsequent 6 many years being an executive with Morse-Diesel Construction Co., where he was
responsible for the supervision and also construction project management involving more than any
million square feet of latest office space in these notable buildings as 437 and 645 Madison Avenue.
He joined his father from Newmark throughout 1972, as well as initially targeted about the
conversion involving small older commercial buildings directly into residential buildings. He soon
earned a history of his skills throughout acquisition and also development such buildings as the old
McGraw Hill Building, 10 Astor Place, 55 Wall Street, 40 Really Worth Street as well as many other
major properties.
In 1978, Gural as well as Gosin, whom have been directing your firm's fee-generating services such
as brokerage and management, bought the firm through his father and the two remaining partners.
Their Particular strategy ended up being to combine Aaron Gural's active portfolio with continuing
acquisition activity, whilst providing leasing and managing services for the firm's personal account
as well as outside parties. Gosin had previous The Huge Apple experience of brokerage having
started his profession with Eddie Gordon.
Jeff Gural credits Gosin, now vice chair as well as chief executive officer, pertaining to significantly
expanding the actual company. "Barry brought any desire to cultivate the actual company. He was
more ambitious, as well as were built using a real vision with regard to expansion. He pushed us
inside a direction to construct our holdings along with help to make acquisitions in a moment when
owning property has been a lot more affordable," Gural recalled. "Today, that strategy features paid
off as real-estate values have got soared."
Presently, additionally to be able to serving as chairman, Jeff Gural concentrates about acquisitions
and managing and leasing properties within Newmark's non-institutional portfolio.
Gosin, alongside with the firm's president, Jimmy Kuhn, directs day-to-day operations and ensures
your continued growth associated with Newmark's commercial leasing activities. More Than your
length of his career, Barry features facilitated several billion us dollars price of workplace leases.
Within days gone by fifteen years alone, he continues for you to be in charge of leasing greater than
30 million sq . ft . involving commercial space in a couple of regarding the largest and any lot
innovative transactions in The big Apple Metropolis history, Gural noted. "Jimmy and some of our
own younger partners have furthermore been instrumental inside the growth regarding Newmark."
"My dad usually said being careful once you pick your partners," Jeff Gural said. "I was. This spent a
while working out very well for most of us both, and just also for the company." However, Jeff Gural
features not really lost target about the family, or the significance of bringing relatives into the
business.
His son Eric, 37, any 1990 graduate regarding Union College, is a Senior Managing Director of
Newmark specializing in owner representation along with property management. His main
responsibilities include managing as well as leasing property about the West Facet regarding
Manhattan, exactly where he manages a new portfolio consisting involving practically three million
square feet. It consists of 520 8th Avenue, a new property he assisted change from a manufacturing
constructing directly into a workplace complex, successfully leasing greater than 600,000 SF; 1560
Broadway, where he currently leases 240,000 SF; 630 9th avenue by which he currently leases
270,000 SF; and 5-9 Union Square West in which he currently leases 100,000 SF.
More recently, the sister, Jane Gural-Senders, provides joined the firm. she returned for you to work
after rearing 5 children, and is now managing any constructing in 230 Fifth avenue in Manhattan.
He in supplement has brought on the nephew, Brian Steinwurtzel, who is running several buildings
as well as handling special projects.
Jeff Gural is truly a person in your Board regarding Directors involving The Actual Real-estate Board
of Ny (REBNY) as well as person receiving its 2005 Humanitarian Award. He is also any vice
president with the real Estate Lodge regarding B'nai B'rith; president with the Ny Chapter regarding
Your Starlight Foundation; part of your Board involving U.S.O.; Chairman of "IHAD-NY"; co-sponsor
of the Chelsea-Elliott "I have A Dream" Project; chairman in the Board involving Directors in the
District Management Association for the Occasions Square business Improvement District; member
of the Board involving Directors in the 14th Street-Union Square District Management Association;
person in the actual Board involving Directors of the Eldridge Street Synagogue; and also member of
the particular Board of Directors of the Jewish community center of the Upper West Facet and a
Board Member regarding Cooper-Union.
Although he features stepped down via nearly all of the actual multiple positions he as quickly as
served within Ny property simply because associated with advanced age, Aaron Gural even now
holds the titles involving chairman emeritus with Newmark and honorary vice chair of the Real-
estate Board regarding New York.
Jeff Gural is seeking forward--to the particular next generation inside the family members business.
"I'd like to hold off long enough to get one of my grandchildren interested," the actual grandfather
associated with 5 said. "But there're even now young, all under grow older 10. I guess I just have got
to become patient ... and also wait around another 15 years."
The Fisher Family
Fisher Brothers can become a privately held partnership made up of Fisher family members, and
also presently operates near 6.5 million sq . ft . of Class The assets throughout The Large Apple city
and also Washington, D.C. Founded within 1915 by brothers Martin, Larry along with Zachary, your
firm began by simply constructing residential apartment buildings throughout Brooklyn, Queens,
your Bronx and Westchester. Inside the particular 1940's as well as 1950's, in add-on they developed
main hotels in Florida, which includes the 300 space Sherry Frontenac throughout Miami Beach,
leading up for the firms' first foray directly into Manhattan. Through the mid 50's through the actual
1980's, Fisher Brothers developed some of NYC's many prestigious residential addresses, including,
on the commercial side, 400 Park Avenue, their own 1st office building, built within the mid 1950's.
during the particular 1990's Fisher Brothers ended up being one of the largest purchasers of resort
portfolios in the RTC.
The current core portfolio within The Huge Apple city includes:
Park Voie Plaza, 55 East 52nd Street--a Skidmore, Owings & Merrill designed constructing involving
1.2 million square feet at Park Voie in between 52nd along with 53rd Streets completed throughout
1981. Widely imitated for its many functional as well as aesthetic breakthroughs: 12 corner offices
for each floor, column-free 45-foot interior spans.
299 Park Avenue-l.1 million square feet among 48th and also 49th Streets. Headquarters for Fisher
Brothers and North American headquarters for UBS Warburg. Originally built more than primary
rail tracks for the New Haven Railroad, making its construction and engineering a remarkable
coordination feat.
1345 Voie in the Americas-"The Alliance Richesse Building." 1.9 million sq ft within 50 stories among
54th and 55th Streets, along with fabulous views regarding Central Park and closeness to become
able to Fortune 500 neighbors and additionally the city's finest hotels and also restaurants.
605 Third Avenue-"The Neuberger Berman Building." 909,000 sq ft of higher profile area among
39th along with 40th Streets. Blocks away from your new Grand Central and the United Nations.
In Washington, D.C., Station Place-In any joint venture with Louis Dreyfus Property Group, the
particular partnership is actually currently developing 1.5 million sq . ft . involving Class A New
office space adjacent to Union Station. Station Location is actually Washington's largest private
office development, consisting of 3 buildings separated simply by landscaped courtyards. The Actual
US Securities and also Exchange Commission has leased more than any million sq . ft . associated
with area inside Buildings one and two regarding Station Place. Room is planning to be available in
Constructing 3 inside the third quarter regarding 2006, which includes flooring plates regarding
approximately 32,000 square feet for you to 55,000 square feet, with a total regarding 505,000 sq ft
about 11 floors.
The firm offers steadily diversified its actions as well as assets more than the past a amount of
decades along with proven itself as becoming a broad-based investment company. Today, the firm is
actually led simply by partners Arnold, Richard, Kenneth, Steven as well as Winston Fisher. Each
Along With Every assumes primary responsibility to find a distinct aspect of the business. With Each
And Every Other they preside over an organization vastly a lot more complex, sophisticated, along
with far-reaching when compared with the one they inherited.
An instance of Fisher Brothers now could be their particular Area Investment Fund, partnered along
with Morgan Stanley Real-estate Fund IV, LP, an affiliate regarding Morgan Stanley & Co.. CIF is
actually a great investment vehicle created expressly to pursue property investments inside the five
boroughs. the fund targets investments throughout commercial, office, multi-family residential,
retail, mixed use, industrial and lodging hospitality real estate.
Growth in community services has also expanded in a big approach over the last decades. Through
the Intrepid Sea, Air & Room Museum, including the actual Michael Tyler Fisher Middle pertaining
to Education And Learning and Your Intrepid Fallen Heroes Fund in order to 33 Fisher Houses world
wide, your Fisher Brothers Basis and the Fisher Middle pertaining to Alzheimer's Disease Study
Groundwork to name probably the most visible enterprises.
The Koeppel Family
The management, leasing and development of the actual Koeppel Organizations LLC real-estate
portfolio are generally handled today simply by 4 Koeppel loved ones members; Edward A.K. Adler,
Caleb D. Koeppel, David J. Koeppel and also Sarah K. Cohn. Almost All attorneys, those are the
fourth generation with the Koeppel family members within the real-estate business. Their Own
great-grandfather, Abraham, was obviously a builder/developer associated with loft as well as
residential buildings inside the early many many years of the last century as well as their
grandfather, Max, founded Koeppel & Koeppel together using his brother Harry between your world
Wars. With Regard To many a long time beginning in the 1960's, the actual senior principals with
the firm had been Max's sons, Alfred and also Bevin. Subsequent Alfred's death within 2001, your
current management business was formed through the next generation. Bevin Koeppel remains
active inside the business.
Highlights with the family's real estate activities more than days gone by half century begin with the
purchase in the Regular Oil Creating from 26 Broadway from your Mobil Oil Organization in 1956.
This specific 650,000 square foot property was purchased entirely vacant when Mobil gone to live in
midtown. Installing central ac along with converting your 23 manually controlled elevators in order
to automatic were the initial of many capital tasks undertaken. Just Lately just about all with the
elevators had been once once more upgraded to always be able to state-of-the-art capability along
with electronic access controls, plus an extensive restoration with the limestone facade was
completed this year. Your property is now a new York Town Landmark.
575 Lexington Avenue, a 600,000 square foot office creating built in 1958, was bought by the
Koeppel family inside 1965. The Actual entire building has been renovated within 1990 whilst it was
95% occupied. the renovation included a manufacturer new glass and also aluminum curtain wall,
new store facades, new most marble lobby, along with new elevators. Koeppel Businesses LLC
principal office is positioned on the 29th floorboards with the building.
Until the particular late '80s, your loved ones held an amazing portfolio of residential rental
buildings in Manhattan, Queens, Brooklyn and the Bronx, some beneath family ownership for
upwards of 60 years. 1 Manhattan building, 130 E. 63rd Street, originally purchased through the
family throughout 1963, was converted from the luxury rental apartment creating to some cond-op
throughout 1991. The Particular six retail shops on Lexington Voie became an industrial
condominium and have been retained as being a permanent a part of the actual family members
portfolio. in the actual fourteen years since the particular conversion became effective, revenue of
however sixteen in the seventy-four cooperative apartments have been concluded as renters vacate
unsold apartments.
The family's 130 Fulton Street project may be underway regarding several years along with
achievement is anticipated from the first quarter involving 2006. the property formerly known as 87
Nassau Street, a new nine-story loft/office building inside downtown Manhattan, was built-in 1890
by simply Otto Kahn and continues in order to be within the family portfolio since 1957. the project
consists of adding four new floors to the surface of your structure, constructing about what have
been a new yard a completely new support core regarding elevator shafts and also stairways, and
also the advance of twenty luxury condominium units for sale. the store shops about Fulton and also
Nassau Streets along with the 2nd along with arcade floors involving commercial along with list area
will most likely be retained as section of the actual loved ones portfolio.
In 1988, many of your Koeppel loved ones founded the actual full support real-estate firm now
known as KTR Newmark Real-estate services LLC. KTR provides brokerage, valuation, underwriting,
environmental, engineering, construction loan monitoring as well as consulting solutions all through
the nation with its major office in The big Apple along using other offices positioned in Chicago,
Dallas and Los Angeles. Newmark real Estate Services, Inc. made a strategic investment in KTR
which in turn transaction ended up being completed in 2001. the alliance together with Newmark
continues in order to be instrumental within broadening the market penetration involving KTR whilst
in the same period enabling Newmark in order to provide its customers solutions which a regular
broker/manager doesn't offer.
The Gallin Family
From its begin in 1886 as a little masonry along with concrete company, John Gallin & Son, Inc.
offers evolved in in order to a thriving construction company that will today is actually run simply by
direct descendants of the original John Gallin: Mark Varian, a nephew of the Gallins as well as
current president, and also imes Square. The Actual firm furthermore is completing an assignment
for the research Basis of the Area University Or College involving Ny (CUNY) with 230 West 41st
Street inside Manhattan.
Gallin has won numerous awards and also accolades pertaining to construction excellence. By
Simply strategically assisting its customers from your initial levels of a project to its final
completion, Gallin offers secured its status as becoming a top quality firm that will consistently
provides superior function as well as keeps its promises.
Gallin's achievement is based on its power to satisfy the challenges along with changes in the times,
the characteristic which includes resulted throughout numerous faithful customers and a steady
inflow of projects, which have assisted shape the actual city for over a century and can continue to
accomplish therefore for years to come.
The Kalikow Family
BY EDWARD KALIKOW
When Joseph Kalikow began his real-estate profession inside the 1930's, the particular dynamics
regarding the business were a smaller amount complicated compared in order to what they tend to
be today. Presently there were zero REIT's or even collateralized mortgages; there were simply no
bundling of mortgages or perhaps defeasance experts. Exactly what existed would end up being a
occasion where honesty, integrity as well as relationships had been valued just just as much as the
achievement which was amassed from the accumulation involving wealth.
During days gone by 80 years a lot has evolved within the real-estate sector and fortunately the
actual characteristics embraced by Joseph Kalikow go on today. Joseph's sons--Harold, Nathan and
also Sidney continued inside the tradition of their father building an empire of over 10,000 units
regarding solid, multi-family rental units that are still producing income, and therefore are homes to
many New Yorkers today. in their own footsteps followed their son's--Peter, Richard along with
myself--Edward Kalikow. We followed various paths if the brothers went his or her separate ways
within the 1970's. each of us may be effective in his own arena of the particular property industry.
Today, I welcome your involvement in the fourth generation in the family enterprise started through
Joseph.
Honesty, integrity, charity along with devotion to family are traits who have served and still serve
the particular Kalikow family well. Nowadays my management firm Kaled Management Corp.,
(www.kaled.com) manages within excess associated with 5,000 rental, co-op, condo and also HOA
units in the Ny metro area. We still personal 2,000 units built and also acquired simply by Sidney
over the decades.
Seeking possibilities throughout growth markets the actual newest part regarding my firm The
Particular Kalikow Group, (www.thekalikowgroup.com) has over the past 10 years provided equity
capital to always be able to form Joint Ventures using local developers throughout the country. We
have raised throughout excessive associated with $60M that has enabled us to be able to take
portion in more than $250M involving real-estate ventures. A Few in our markets include: New York,
Pennsylvania, Connecticut, as well as Massachusetts, each coasts regarding Florida, Raleigh-
Durham, North Carolina, Charleston, South Carolina, Houston, Texas, Pell City, Alabama along with
Las Vegas, Nevada.
Relationships drive the success which has followed. Practically all of our developer partners
continue to accomplish business along with us. Earnings per reveal or the vagaries of the money
markets do not really motivate us. These "constraints" that some view as opportunities, inhibit my
capacity to manage real-estate the way Joseph did. one must "kick the actual tires", obtain dirty and
have strong relationships. These Days it would always be extremely hard to develop a building
according to a new handshake just how Joseph did.
The dynamics associated with industry location are constantly changing. where my son Gregory and
my nephew Jordan select to take the organization within the future is not yet know. However,
embodied using the fundamental concepts instilled inside them through me, as taught simply by my
father Sidney which usually has been taught to be able to him simply by his father Joseph, I
anticipate your Kalikow identify will carry on to become any shining star within our industry.
I wish saying thanks to Property weekly for nominating us upon their particular 50th anniversary as
among the great property families. We wish them much continued achievement throughout their
next 50 years.
The Tisch Family
The story regarding Laurence (Larry) along with Preston Robert (Bob) Tisch as well as their rise to
the top echelons of the corporate globe established fact in the annals involving enterprise history.
Exactly what isn't widely reported is the role which usually "hard assets"--particularly real-estate
have played in fueling the steady growth associated with their business, Loews Corporation, which
can easily be now certainly 1 of your country's leading Fortune 500 diversified monetary
corporations.
Larry and also Bob expended their own careers maximizing real estate values along with capitalizing
about new investment opportunities--growing Loews in in order to a corporation along with assets
now valued at over $70 billion. Next within their father's footsteps, the next generation involving
Tisches--Andrew, James and Jonathan, whom assumed the helm associated with the business within
1999 following Bob and also Larry stepped down through day-to-day management--continue their
own father's company traditions and appreciation with the real-estate prospective regarding any
kind of holding.
For the Tisch family, all associated with it began inside 1935, using a small summer camp within
Blairstown, New Jersey, which the actual family members owned along with operated. Any time
these people built a new 32-room guesthouse pertaining to visitors to the camp, the Tisches got their
initial taste in the resort business--marking first with the family's remarkable success story.
The sale of the camp provided your seed money for the family's complete fledged entry to the hotel
enterprise throughout 1946 once they purchased your 275 space Laurel-in-the Pines resort
throughout Lakewood, New Jersey. Quickly that these people had sufficient earnings from the resort
to buy another--and prior to long had built any thriving resort chain in Manhattan, New Jersey,
Atlantic Metropolis and also Florida.
It was at 1959, when Metro-Goldwyn-Mayer has been made to spin off their own Loews Theatre
division because involving anti-trust regulations, that the Tisch brothers began to end up being able
to broaden their business. That They bought the movie theater chain (then about 120 screens
throughout the country) realizing the worth of the actual territory underneath everyone of your
buildings. A New real estate specialist, Arthur Raporte, ended up being additional towards the
Loews staff to measure the theater portfolio, trying for you to keep these movie houses which were
viable as theaters and also promoting these which were deemed to not get potential. He was Loews
initial Vice President regarding Real Estate, succeeded by John Malino, whom held that will place
pertaining to 35 years, and also then Jason Boxer, whom now heads your real Estate Department.
Funds in the theater sales propelled the particular brothers directly into an ambitious program
regarding hotel construction. Among 1961 and 1963, the business built seven hotels (six throughout
Manhattan then one within Puerto Rico) and the couple luxury apartment houses within The Huge
Apple City.
Larry and also Bob continued in order to expand, seeking under-valued assets, which, in order to
this day, is a keystone of Loews's philosophy. 1 such investment manufactured in 1995 through
Loews insurance subsidiary CNA, had been the purchase associated with 25 1/2% equity throughout
Canary Wharf, your 15 1/2 million square foot commercial middle within London. This investment
netted the actual Organization $750 million, through a mixture of rental income, dividends and
purchasers regarding portions in the stake. CNA marketed the ultimate bit of the actual project final
year.
Loews subsidiaries now contain CNA; the tobacco company--Lorillard; an oil drilling company-
-Diamond Offshore Drilling; a gas pipeline company--Boardwalk Pipelines, which in turn consists
associated with 2 companies, Texas Fuel and Gulf South Pipeline; the watch along with clock
company--Bulova; as well as Loews Hotels, which in turn is now offering 18 properties in the Usa
and Canada. each of these subsidiaries came with significant real estate, which usually provides to
become managed, sometimes consolidated, plus some cases sold.
Although real-estate has not driven your Tisch family or even Loews management, it is obvious in
which property assets have got usually been a sizable part of your evaluation method which in turn
occurs when considering a fresh acquisition. Since Bob Tisch, Chairman associated with Loews, just
lately said, "We get always attempted to produce one of the most out of real estate which includes
come along with all of the particular businesses we have bought--and I know that the 2nd generation
will be continuing to accomplish just that."
The Milstein Family
For 3 generations, the particular Milstein family members continues to end up being able to be the
major force in the development of The big Apple City, the particular region, along with beyond. their
entrepreneurial spirit can be evident inside their major holdings--Milstein Properties, Milstein
Brothers Money Partners and furthermore the Emigrant savings Bank--as well since the august
institutions that will bear their name: Milstein Hospital building of Ny Presbyterian Hospital;
Milstein Hall involving Ocean life ("The Whale Room") at the American Museum associated with All-
natural History; Milstein Division regarding Neighborhood History, American History along with
Genealogy in the The big Apple Public Library; Milstein Hall at the Cornell University's college
regarding Architecture, Milstein Plaza with Lincoln Middle for your Doing Arts, and lots of others.
The loved ones enterprises began along with Morris Milstein in the wood flooring business. starting
along with nothing but his two hands, Morris founded Circle Flooring Company, Inc., in 1919. Circle
floor grew and, after Globe War II, expanded into flooring tile, acoustical ceilings and drywall
construction. Through 1960, Paul Milstein had led Circle Ground to dominate the actual new York
market, installing floors--and later on walls and also ceilings--in many associated with New York's
greatest recognized modern landmarks: Rockefeller Center, the actual Un campus, along with
LaGuardia and Kennedy airports, Lincoln Center, the actual world Trade center and furthermore the
new Madison Square Garden. Paul Milstein launched the actual family's initial real estate
development tasks inside the 1950s.
The Milstein vision ended up becoming to purchase large scale developments that will are designed
to anchor along with revive ailing neighborhoods. Paul, together together with his sons, Howard and
Edward, created a keen vision pertaining to identifying neighborhoods where they will found
extraordinary possible a long time before many others.
* Although the Lincoln center area was still viewed simply by many through your prism involving
"West Aspect Story," the Milsteins developed three crucial buildings: Dorchester Towers (1962 [the
initial luxury constructing in that region since the second Globe War]), 1 Lincoln Plaza (1972) and 30
Lincoln Plaza (1978).
* Whenever East 96th Street was still viewed as the "DMZ," the actual Milsteins developed the
massive Normandie Court with 1500 80/20 units.
* Whenever Battery Park had been uncooked landfill, the particular Milsteins built Liberty Court,
Liberty House, Liberty Terrance and, finally, Liberty View.
* before Murray Hill became any "hot" community around the East Side, the particular Milsteins
developed Windsor Court, a complete square block.
* Whenever Eighth avenue inside Hell's Kitchen was just a tawdry extension involving times Square,
the actual Milsteins bought the particular 1300 room resort that would become the Milford Plaza, an
and developed that will abandoned shell to the the majority of successful tourist-class hotel within
the United States Involving America using the fabled Mama Leone's Restaurant. With the identical
time, their investment assisted in order to turnaround New York's faded theater district.
In 1989, the Milsteins expanded beyond their own tasks along with acquired Douglas Elliman--a
white glove firm which throughout fact had pioneered your concept with the Park avenue coop. By
Simply time they will marketed it within 1999, your Milsteins had parlayed your once-venerable
manufacturer these people acquired in to become able to the gold standard for residential real
estate brokerage along with management within new York City. And Also they will used their own
situation to help clean up corruption inside New York's entire real estate management industry.
In 1986, your Milsteins acquired Emigrant Cost Savings Bank, a $3 billion historic NYC bank.
Beneath your leadership regarding Co-Chair, President and also CEO Howard Milstein, it's now, with
$10 billion, the largest privately owned bank in the country.
Throughout the second 1 / two of the actual 20th century, your Milstein loved ones has remained
among the most dynamic forces around the real estate scene by means of their extremely own
activities, and also coming from 1963 until 1999, their own leadership of Starrett Housing
Corporation and also HRH. Because for their own existing projects:
* the Milsteins are developing the last remaining parcel of territory in the Occasions Square area
into a mixed-use, innovative 850,000 square foot tower.
* they are usually developing over one million sq ft of residential and also retail store throughout
Stamford, CT.
* a main residential project can be beneath approach Throughout Ridgefield, CT.
* Within long-depressed Niagara Falls, the particular Milsteins are implementing the 6 million
square foot mixed use urban redevelopment project.
And a quantity regarding other future projects....
Ogden CAP Properties
Drawing on a notable Milstein family members tradition of holding assets instead of getting to trade
them, although continuing to grow and cultivate their own portfolio, Seymour's children, Connie as
well as Philip, and his awesome granddaughter, Abby Elbaum, created Ogden CAP Properties in
2003. the firm manages an extensive portfolio regarding prime residential, commercial, and hotel
properties within Ny City, such as Normandie Court, Windsor Court, one Lincoln Plaza, Biltmore
Plaza, along with Dorchester Towers. the firm furthermore continues to operate the 1,300-room
Milford Plaza Hotel, which is set for a tip-to-toe renovation in the close to future, and there is
actually rumor involving both yet another resort along with bank acquisition.
There can be the continuing and vital loved ones tradition associated with philanthropy, marked by
method of a long-term involvement like a trustee or a board member of Columbia University, Ny
Presbyterian Hospital, the 92nd Street Y, and the new York Town Opera, to say a new few.
"Connie, Philip and also I hope throughout environment up Ogden CAP Properties for you to
accomplish your highest standards, along with carry on the values and philosophy in our father
along with grandfather," explains Abby, the fourth-generation Milstein, who left any profession
inside private banking from Seymour's request for you to prepare to assume your helm of the family
enterprise.
"To that will finish we are seeking optimistically in direction of the long run along together with a
host regarding thrilling new challenges and possibilities that will help make my grandfather proud."
The Olnick Family
The Olnick Organization, Inc., a new privately held, third-generation New York-based real-estate
development organization had been founded by simply Robert S. Olnick greater than half a century
ago. the firm can be active inside the development, management and financing involving prime Ny
metropolitan area residential, office and also resort properties.
Today, under your direction with the late Mr. Olnick's son-in-law, organization president Richard
(Rick) Lane and the son-in-law, executive vice president and also COO Neil L. Rubler, Olnick offers
expanded its portfolio and also services. Olnick may end up being the owner associated with
Manhattan office properties 270 Lafayette Street and 130 Fifth Avenue, plus New Jersey, your
premier workplace properties 4 Gateway Plaza in Newark as well as Headquarters Plaza inside
Morristown (this property is owned in partnership using Fisher Development).
The Benenson Family
Benenson Money Partners, LLC represents the particular very definition of "Real Estate Family."
This specific private organization can be built on a tradition in which spans one hundred years. Next
founder Benjamin Benenson and his visionary successor Charles B. Benenson, today's new
generation associated with leadership includes Bruce W. Benenson, Frederick C. Benenson along
with Lawrence B. Benenson, your founder's grandsons. together with senior executives Richard A.
Kessler and also James E. Stifel, this team supplies a amount of continuity as well as expertise that
might become unmatched within the real estate investment community.
Benenson Richesse Partners, LLC (BCP) may always be the management arm in the Benenson group
regarding companies which includes the Benenson Richesse Company. Dating back in order to 1905,
Benenson capital Partners features often been any leader amongst privately held operating
companies inside real estate investment, development along with asset management. Your
organization owns a lot more than 175 properties, including retail, office, industrial, multifamily,
hospitality as well as land all through the United States, Canada and Europe.
The Benenson Family Members survived the great Depression because in the company's lucrative
lease together with The Particular Horn & Hardart automat from 31st as well as Broadway. Charlie
Benenson, an impressionable youth at the time, never forgot the essential lesson he learned. Thus
began Benenson's reputation great credit tenants and also great locations. one main emphasis with
regard to Benenson Richesse Partners can be single-tenant triple-net leased properties occupied by
main corporate tenants. Corporations and entities together with which usually Benenson has lengthy
net lease relationships contain General Electric, House Depot, Wal-Mart, The Actual Ford Motor
Company, The Entire World Bank and in addition the U.S. Government.
Since its inception, the business features expanded its property portfolio and keep a keen contrarian
eye pertaining to long-term values. for example, your firm acquired underdeveloped property
inexpensively in the 1960s and also 1970s, after which successfully developed this terrain
throughout the particular 1980s and 1990s--building very lucrative mixed-use properties over the
country.
Benenson Money Partners also pursues strategic relationships and value-added transactions with
corporate tenants, lenders, and also joint venture partners. These kinds of initiatives capitalize in
possibilities within undervalued assets, build-to-suit projects, new development and also
redevelopment. Developments within The big Apple consist of 1180 avenue with the Americas as
well as the Metropolis, a fresh residential tower in East 44th Street.
As Benenson Richesse Partners has exploded via acquisition, investment as well as development
over the country, it remains, at its heart, a new "real estate family" business. Founded and also led
through very principled people have been passionate about business, philanthropy as well as the
betterment regarding new York City, the business continues inside those traditions today.
Throughout the 1990s, the particular firm focused on creating its management depth and also
creating a superb track record of its professional staff, although upgrading its technologies and
forming strategic relationships with leading corporate tenants, lenders and also partnership
partners.
Today's Benenson Richesse Partners remains any reflection associated with its past leaders, yet is
truly a modern entrepreneurial property company effective at organizing as well as analyzing
projects of any size. The Actual company's real estate portfolio features strong geographic along
with tenant diversity, along with its financial performance doesn't depend upon any single company,
economic sector or property type. The Actual fourth generation associated with Benensons is now
emerging as the company's link towards the future, as Benenson Money Partners enters its second
century.
The LeFrak Family
Recognized as among the actual world's leading creating firms, the Lefrak Organization continues
for you to be acclaimed internationally with regard to its resolve for large-scale cost-effective
housing, responsible neighborhood development, and also sensitivity to environmental preservation.
A paragon inside its field, Lefrak revolutionized the constructing sector using its "Total Facilities
pertaining to Total Living" throughout huge communities, such as Lefrak City--5,000 apartments
upon 42 acres--where residents enjoy year-round on-site facilities for shopping, entertainment, as
well as leisure.
The Organization in addition satisfied the actual challenge involving creating your 92-acre Battery
Park city at the first significant waterfront landfill neighborhood within Ny throughout a lot more
than one hundred years. Lefrak built the really first 1,700 apartments in Battery Park, your
attractive Hudson River esplanade, an underground garage, store along with commercial space, plus
a health and swim club.
When Harry LeFrak founded the Lefrak Organization within 1901, he strived to identify his identify
together with constructing integrity and also top quality ... as a number of generations involving
forefathers in France had achieved prior to him.
From 1948 until his death within 2003, Harry's son, Samuel J. LeFrak, as chairman in the Company,
initiated and oversaw an boost in construction to satisfy enormous post-World War II housing
demands. Through the particular early 1950s, the actual company additionally began for you to
reclaim huge tracts regarding terrain to become able to develop innovative mini-cities pertaining to
which in turn your Lefrak Organization continues to always be able to be acknowledged as a leader
within its field. Thus, your Lefrak identify has become synonymous using excellence within design,
construction, engineering, and also urban planning.
Today, Richard S. LeFrak, chief executive officer, chief operating officer, as well as president,
collectively with his two sons, Managing Directors Jamie along with Harrison, tend to be leading the
actual Lefrak Organ nization into the future, whilst preparing the means by which for that next
generation associated with LeFraks to visualize your mantle of leadership.
Lefrak currently is creating Newport, a new $10 billion development in 600 acres across the Jersey
Area Hudson River waterfront. The Actual largest mixed-use community in the nation, Newport is
surely an environment encompassing the particular "total living" concept pioneered by simply
Lefrak, along with represents your Company's commitment to serving shoppers as well as company
by means of a century-old tradition associated with excellence.
The Resnick Family
Founded through Jack Resnick throughout 1928, Jack Resnick & Sons, Inc. has been any leader in
development, construction, ownership and management regarding commercial as well as residential
real estate in new York Area for more than 70 years. Burton R Resnick (Jack's son) joined your firm
in 1953, became its chief executive within 1971, and today is the firm's Chairman of the Board along
with Chief Executive Officer.
One with the real-estate industry's most respected leaders, Mr. Resnick recently served as Chairman
in the Board involving Governors of the real Estate Board involving Ny and it is actively associated
with countless philanthropic causes. with his three sons firmly entrenched inside the business, the
family tradition will continue. Scott Resnick, whom joined the particular firm in 1989, is President
and Chief Operating Officer; Peter Resnick, whom came aboard within 1995, is truly a Managing
Director inside Commercial Leasing; as well as Jonathan Resnick, that arrived 1996, is actually a
Managing Director in Construction.
The Resnick family provides developed, and owns, a portfolio associated with essential residential
and commercial buildings (comprising approximately 1,500 apartments and also 5 million sq ft
associated with office space) within prime places within new York City, which includes several
luxury apartment buildings like Your Gershwin (250 W. 50th Street), Gracie Mews (401 E. 80th
Street) along with Symphony Residence (235 W. 56th Street), and also workplace properties such as
1 Seaport Plaza (199 water Street), A Couple Of Chase Manhattan Plaza (20 Pine Street), 110 East
59th Street, 485 Madison avenue as well as 75 Park Place. Your family will be currently developing a
400 unit residential tower within Tribeca.
Jack Resnick & Sons, Inc. is comprised regarding experienced, high-level executives which execute
the actual firm's total service real-estate capabilities within development, construction, leasing as
well as management. The Majority Of of those executives are already related with the Resnick team
for over twenty years, a tribute to the ownership along with management philosophy, too because
the achievement in the firm.
The Rechler Family
Throughout his or her history, your Rechlers have enjoyed a reputation for providing the best quality
item and also services for sale in Lengthy Island's real-estate market. Today, the Rechlers are
generally drawing in their particular experience, knowledge involving different market sectors,
vision along with sources to create unique properties and business solutions, not only about Lengthy
Island, nevertheless throughout the particular region. By Means Of their own business R Squared
LLC, Mitchell Rechler along with Gregg Rechler oversee more than 7 million square feet regarding
properties throughout your The Large Apple Region, such as Rechler Equity Partners LLC,
representing more than one hundred industrial and also office buildings about long Island.
The Rechler family members produced its entrance into property throughout 1958 with just about all
the development of Ny City's very first industrial park in Newtown Creek, Brooklyn. Just 2 yrs later,
the family members began purchasing Extended Island real estate, investing throughout a number of
industrial properties, which includes the 600-acre ITT parcel (formerly your Voice associated with
America Operations Center), together with options by using an further 600 acres to generate your
Vanderbilt Industrial Park. Within 1964, these people developed the first planned industrial park
upon long Island--the second largest industrial park inside the country.
The Rechlers failed to stop there, and in 1968, Donald, Roger and their father William Rechler
founded Reckson Associates, the organization that will two years later on developed the first award-
winning, high-tech industrial park in Ny State, a 1.8 million-square-foot project within Airport
International Plaza in Bohemia.
Throughout your '70's and '80's, the actual Rechlers had turn out in order to be the leading
developers of office and also industrial properties in long Island. Throughout 1995, your Rechlers
when once again made history by simply using Reckson public about the Ny Stock Exchange as
Reckson Associates Realty Corp. (NYSE:RA), along with approximately $285 million inside proceeds
towards the Company. Their Particular first portfolio included 72 office and also industrial
properties totaling 4.5 million square feet, substantially located in Extended Island. Coming From
1996 in order to 2001 they will expanded your Business to add properties within The Large Apple
City, Connecticut, new Jersey and Westchester--completing the actual Tri-State strategy, and
growing the particular Company's portfolio to in extra of 22 million square feet with a total industry
cap regarding $3.3 billion.
In 2001, although nevertheless acting as Co-Presidents or Reckson, Mitchell Rechler as well as
Gregg Rechler formed R Squared LLC making use of their development of a $95 million retail
complex within White Plains, adopted by method of a group of various other retail, residential as
well as hospitality tasks throughout the particular region.
In 2003, Mitchell, Gregg, Donald and Roger Rechler left Reckson as well as formed Rechler Equity
Partners, which usually acquired the particular Lengthy Island Industrial portfolio of Reckson
Associates Realty Corp. in a $315 million transaction.
The Rudin Family
The Rudin family members philosophy associated with real-estate ownership actually began over the
century back when Samuel Rudin's father purchased 153 East 54th Street. He encouraged the
particular youthful Rudin to never offer your creating and furthermore to attempt to obtain all the
property about it. following his father's advice, Samuel Rudin ultimately acquired the majority with
the surrounding properties and, to always be able to this day, the particular building remains a new
proud a part of what's among one with the most prized privately owned property portfolios
throughout Ny City.
As the actual Rudin passion for The big Apple real estate grew, Sam and his brothers Edward, Henry
as well as Nathan came up with management as well as leasing company, Rudin Management Co.,
within the early 1920's. His Or Her simple principle regarding vertically integrating all aspects of
property using a hands-on approach to always be able to management carries on nowadays to
attract some of the world's most prestigious tenants for you to Rudin's residential and also
commercial buildings.
After world War II ended, Sam and his sons, Jack and also Lewis, lay out to expand his or her
holdings as well as positively influence your skyline associated with New York, 1st using apartment
buildings, and also later on using workplace buildings. Today, the company owns 16 Manhattan
workplace properties containing more than ten million sq . ft . associated with space.
Following Sam's death throughout 1975, Jack along with Lewis took more than the organization
rather than only expanded its portfolio yet advanced Sam's curiosity about philanthropic along with
civic affairs. Within 1971, Lewis, along with other business, property as well as civic leaders, came
up with Association for a Much Better new York in response towards the fiscal crisis.
In the early 1990's William Rudin ended up being named president regarding Rudin Management. In
that point the actual property industry in Ny had been suffering, particularly inside lower
Manhattan. William right away devised a strategy in which spearheaded the family's role within the
revitalization regarding downtown, creating a middle for high tech companies in 55 Broad Street.
This particular project set a fresh direction with regard to Rudin, which in turn now integrates the
actual concept associated with broadband connectively into the fabric with the family's real estate.
Today, a third generation involving Rudins--Eric, Beth Rudin DeWoody along with Madeline Rudin
Johnson--are actively involved in continuing the actual family's leadership role within real estate.
The Stern Family
One in the most-repeated associated with the truly amazing American success stories begins inside
1926 if the late Max Stern immigrated in order to America from his native Germany together with
5000 performing canaries he received throughout payment of your debt, spawning Hartz Mountain
Industries.
Expanding his company led him to be able to manufacture bird food items below the actual Hartz
Mountain brand. during your decades in which followed, Hartz pioneered the sale involving
canaries, parakeets, hamsters, tropical fish, goldfish as well as their provides in assortment stores
all through the actual united States along with Canada.
In 1959, in the chronilogical grow older of 21, Leonard Stern joined his father with Hartz Mountain,
immediately expanding the particular Company's bird meals item lines to incorporate an entire pet
supply department into a lot more than thirty thousand supermarkets along with mass
merchandisers all through The United States as well as the United Kingdom. Along With he started
addressing the developing concern's real estate issues, moving several operations coming from
lower Manhattan in order to property Hartz bought inside New Jersey.
A shift regarding emphasis was signaled throughout 1966 when Hartz undertook the major new
speculative industrial development Bayonne. A Couple Of many years later on Hartz created the
really first of various main territory acquisitions using the buy of your 750 acre tract of territory in
the Nj Meadowlands, less than six miles via Manhattan, which in turn now could be known as
Harmon Cove and it is one of the most successful warehouse along with distribution centers in the
world. Throughout time Hartz Mountain would obtain more than 1,800 acres in the Meadowlands as
well as other significant tracts elsewhere within New Jersey, and also real-estate development belly
to become the actual dominant exercise in the company. a strategic selection to become able to offer
the pet items company throughout 2000 further targeted the actual company.
Currently, Hartz Mountain Industries owns a lot a lot more than 200 buildings comprising 38 million
square feet, which includes 22 million-square feet involving industrial, ten million square feet of
office, two million square feet associated with retail, as well as 11 hospitality properties containing
greater than 2,200 rooms. Nearly All of Hartz Mountain's holdings have been in New Jersey,
nevertheless its portfolio contains numerous notable Manhattan properties, which includes your chic
Soho Grand and also Tribeca Grand Hotels, along with 667 Madison Avenue, any 267,000 square
foot 25-story world-class workplace building.
The late 1990s represented any significant threshold with Hartz, because the recovery with the
commercial real-estate industry coincided using the advertising associated with Emanuel Stern,
Leonard Stern's son, to become able to Chief Operating Officer regarding Hartz Mountain Real
Estate. in 1997 Hartz Mountain correctly anticipated the particular rejuvenation with the Jersey
Area waterfront by ordering Colgate Center, triggering an intensive construction era for itself and
the waterfront with its speculative growth and also development of 70 and 90 Hudson Street. It also
developed the particular remaining acreage inside Harmon Cove, adding 3 main new warehouse
facilities. As Well As each Manhattan hotels had been opened in order to rave evaluations and also
record rates, igniting a new nevertheless burning trend for downtown boutique hotels.
The turn with the century observed Hartz renewing its give focus to list development. Harmon
Meadow, the actual Secaucus-mixed use development that was the actual original model for that
suburban lifestyle center has been reinvented with a distinctly big-box flavor by adding a Wal-Mart
along with Sam's Club inside 2003 which year Marshalls, home goods and also AC Moore opened
retailers and also is planning to be joined inside 2006 by simply Linens 'N Things. Inside all,
practically one million sq ft of new retailing is likely to be opened, joined by new restaurants along
using a rejuvenated tenancy with Hartz's adjoining Mill Creek Mall, now anchored by Kohl's.
In early 2005 Hartz purchased a 102-acre site in Route one in Edison, formerly a new Ford
manufacturing plant, where it's likely to generate a fresh one-million-square-foot lifestyle center
with retail and entertainment uses. Promising yet another reinvention of the suburban mixed-use
experience, progression of the final large retail-friendly web site in Middlesex County is predicted to
commence throughout 2006.
Historically substantial capitalization prices along with lower interest rates have got caused current
shifts inside the Hartz Mountain portfolio strategy, in particular its shedding associated with a range
of workplace assets inside the Meadowlands as well as development of latest investments
throughout premier suburban list and also office markets. the business additional 15 Exchange
Place, the 135,000-square-foot historic neighbor associated with Colgate Middle in Jersey Area
which includes extended been home of Wall Street clearing operations.
Hartz furthermore bought the finest office building throughout Ridgewood, outbidding a lot much
more than twenty contestants as well as spending a record cost with an outstanding and also unique
110,000 square-foot asset. And, not really ignoring its roots, the company is actually reinforcing its
situation inside the industrial marketplace simply by redeveloping as well as repositioning a few
warehouse facilities--it was lately acknowledged from the Nj-new Jersey chapter associated with
NAIOP as being a deal in the Yr Finalist in 2004 pertaining to redeveloping any former warehouse
inside Harmon Cove in to a banking middle pertaining to North Fork Bank.
Maintaining its energy and leadership position may be accompanied by recognition associated with
its achievements, using the business receiving numerous essential accolades this year. It had been
named through NJPA real Estate Journal since the "Best Developer involving 2004" and furthermore
by Company news Nj-new Jersey (NJBIZ) as one of your "Best Areas to become able to work inside
New Jersey" regarding 2004.
Often the particular senior player within an business assumes a new risk-averse air, nevertheless at
Hartz Mountain there is actually a determined concentrate on new opportunities. Together With its
strong balance sheet along together with a highly diversified professional management team, Hartz
Mountain Industries offers positioned itself in order to continue to create as well as add for you to its
portfolio--and its legacy.
The Rockefeller Family
Throughout his life, John D. Rockefeller, Jr. was involved with numerous worthwhile initiatives about
new York City--the Palisades Interstate Park, the particular Cloisters and Fort Tryon Park, Riverside
Church, your United Nations, as well as the like.
While almost all of these endeavors tend to be memorable, John D. Rockefeller, Jr.'s nearly all
enduring contribution to new York City, the actual nation, and also the planet might happen for you
to be a real-estate project he undertook within the midst in the Fantastic Depression--the
construction of Rockefeller Center.
Rockefeller's original purpose for your property within midtown Manhattan ended up being to lease
the actual territory coming from its owner, Columbia University, as a manufacturer new residence
for your Metropolitan Opera. Once the Opera backed from its talk about of the lease within 1930, it
had been left to Rockefeller himself in order to shoulder the actual load. Faced without tenants plus
a 24-year lease associated with approximately $120 million inside the center of your Depression-
-Rockefeller's task would be a daunting one.
The construction expense pertaining to such a mammoth project ended up being enormous, as well
as due in order to the state of the economy, there was clearly no assurance in which tenants could
possibly be discovered once the buildings were completed.
Rockefeller made a choice to proceed. He consulted together with numerous distinguished
architects and also builders, which modified your original proposal, envisioning throughout its
location a fresh "Rockefeller Center," being employed as the possible entirely commercial
development.
For living of the project, via 1929 in order to 1939, Rockefeller's expenditures upon construction,
taxes, lease payments, and other aspects totaled $125 million--the equivalent of $1.5 billion today.
Astoundingly, Rockefeller received simply no income from the project along with recouped under 1 /
two of your richesse he had invested.
Nonetheless, John D. Rockefeller's willingness to be able to go forward on the construction of
Rockefeller center with a period of fantastic economic distress in the nation provided much-needed
employment to Ny city construction workers.
The turning point regarding Rockefeller center came in the event it signed its initial tenant, the
Radio Corporation associated with America which in turn agreed in order to lease one million square
feet involving area pertaining to offices and movie theatres in the project's major building. Using
this main tenant in place, architectural planning could proceed with regard to the majority of the
site. Simply as important, simply by aligning a new property project with radio along with motion
pictures--two of this era's nearly all thrilling new technologies along with growth industries--a cachet
was created with regard to Rockefeller center which has continued in to a new century.
Despite its challenging beginnings, Rockefeller Middle became the universally acclaimed property
property. Since John D. Rockefeller, Jr.'s youngest son, David, wrote concerning the center in his
Memoirs in 2002, "The clean, bold thrust regarding its modernist lines as well as rooftop gardens,
gave it the easy beauty, elegance, and imaginative quality in which silenced even its harshest
critics."
The danger taken simply by John D. Rockefeller, Jr., in the height with the Excellent Depression,
these days stands as getting a model regarding urban design along along with a centerpiece within
the skyline involving new York City.
The Riguardi Family
Combined, Edward and also Peter Riguardi get more than 60 many years of commercial property
experience in Manhattan. Along With for your past twenty years they've got worked with every other
with a number of of New York's highest profile property companies, creating the actual beginnings
of your dynasty throughout among one of the most dynamic property markets inside the world.
Edward Riguardi has been referred to be able to as "Dean involving Property Management within
New York." He pioneered the institutional approach for you to property management in Manhattan
as well as was one of the first executives from the property management aspect regarding the
company to become able to find yourself managing a full-service property company.
Edward Riguardi launched his profession throughout Ny real estate with Williams Real Estate,
exactly where he labored with regard to 29 years. He rose to turn out to be one of your firm's 3
senior executive vice presidents as well as served like a member of its six-man executive committee,
that oversaw your operations with the firm. In its peak, your Williams's portfolio comprised nearly 30
million sq ft regarding workplace in 200 Manhattan office buildings that boasted more than 5,000
tenants.
Peter Riguardi in addition got his start inside the real-estate enterprise in Williams, operating
summer internship applications in the particular course of high school and college. He joined the
company complete amount associated with occasion in 1983 right after graduating coming from Iona
College. Through 1986, Peter had risen to the place involving senior vice president becoming the
youngest executive to achieve that degree in the reputation your firm.
Edward and Peter Riguardi left Williams to end up being able to launch Koeppel Tener Riguardi in
1989 with Edward serving as president, along with Peter as co founder and director of the firm's
brokerage division. Edward Riguardi created KTR's property management group, which in turn grew
for you to oversee a lot more than 6 million sq . ft . regarding institutional property, and that he in
addition assisted Peter inside the growth with the firm's brokerage, consulting and appraisal
businesses. Edward as well as Peter Riguardi had been instrumental in expanding KTR's consulting
as well as appraisal business.
In 1994, Edward and Peter Riguardi acquired KTR's leasing along with property management
groups from their partners inside the firm, the Koeppel family. The Actual Riguardis merged your
units along with Abrams Benisch & Riker to produce Colliers ABR, using Edward assuming the
actual role of co-chairman, along with Peter using the positioning regarding executive vice
president. Peter Riguardi additionally became a significant shareholder inside the company. With
Colliers ABR, the particular Riguardis had been important aspects within boosting the actual
company's profile along with visibility within the Manhattan property market. Peter Riguardi
completed main high-profile transactions such since the Metropolitan Transportation Authority's 1.6
million-square-foot net lease with two Broadway, which in turn remains your largest leasing
transaction in the history of New York. He furthermore represented Morgan Stanley within the
growth and also development of its 1.1 million-square-foot workplace building at 745 Seventh
avenue and also was accountable for coordinating Merrill Lynch's expansion along with real-estate
strategy inside lower Manhattan.
In 2002, Peter Riguardi had been recruited simply by Jones Lang LaSalle Americas for you to serve
as president associated with its Ny office. He can be responsible for broadening the particular
company's The big Apple platform, along with immediately overseeing new business development as
well as implementation as well as the implementation of your full range of real estate services inside
the New York, new Jersey as well as Connecticut area. Edward Riguardi joined him to serve as
managing director at the company, providing senior oversight with the management portfolio and
also corporate facility management about almost all within the The big Apple metropolitan area, and
senior advisory for the firm's management team.
In the actual greater than two years which has Peter helmed Jones Lang LaSalle's new York office,
he features helped advance Jones Lang LaSalle into a dominant industry player. Jones Lang LaSalle
offers landed one of the most prestigious assignments in The Large Apple beneath his leadership,
including Bank regarding America's 1.1 million-square-foot lease as well as codevelopment
agreement together with Durst Organization with one Bryant Park, your redevelopment regarding
Madison Square Garden, a new real-estate consulting assignment for that Port Authority around the
rebuilding with the Globe Trade Center, the redevelopment of Governors Island, and the
redevelopment associated with Roosevelt Island.
Edward and also Peter Riguardi both value their own strong relationship and also family ties, and
also think about their own work relationship merely a part of a strong father and son bond. Edward
and his awesome wife, Marie, have been married regarding 48 a lengthy time and possess a couple
of children, Peter as well as oldest sister Sarah. Peter Riguardi and his awesome wife, Linda, happen
to become able to be married pertaining to twenty years and possess four sons Eddie, Peter Jr.,
Nicholas and also Alexander.
Interestingly, Peter's oldest son, Eddie, which not too long ago graduated high school, will be
interning with Jones Lang LaSalle's new York workplace this summer. He will work with just about
all the company's project management group.
Jones Lang LaSalle will always be the world's leading real-estate solutions and cash management
firm, operating across a lot much more than one hundred markets around the globe. the
organization provides comprehensive integrated expertise, including management services,
implementation services and also investment management services on the local, regional as well as
global degree in order to owners, occupiers and also investors. Jones Lang LaSalle can be your
business leader inside property and also corporate facility management services, having a portfolio
that could reach over 835 million sq ft beneath management worldwide. Throughout the actual Ny
region, Jones Lang LaSalle provides leasing and also management services for 45 million sq ft
associated with office buildings.
For much more information, visit www.joneslanlasalle.com.
The Tishman Family
Tishman Realty & Construction Co., Inc., founded inside 1898 through Julius Tishman, is nowadays
among the particular world's premier builders, real estate developers, and also asset managers.
Through its original Owner/ Builder heritage within high-rise residential properties, the particular
privately-held organization has grown to turn out to be an ubiquitous presence within the
construction, real estate, and hotel industries, although inspiring an entrepreneurial spirit
throughout.
The firm will be led by simply Julius' grandson, John L. Tishman, the longest serving Chairman inside
the company's history; John's son, Daniel R. Tishman, that heads up almost all of its construction-
related as well as technologies operations; and also John A. Vickers, who is responsible for your
company's real-estate ownership interests as well as resort management activities.
As a new builder, Tishman includes a expanding legacy involving landmark achievements for you to
its credit, comprising a roster which includes facilities of each dimension along with type. having
constructed more than 425 million sq ft of space, the particular firm's notable projects in the 20th
Century are the original Globe Trade Middle twin towers along with complex, and also restoration of
the landmark Carnegie Hall and New Amsterdam Theatre inside The Huge Apple City; the John
Hancock Middle in Chicago; the Century Area Theme Middle throughout Los Angeles; along with
Walt Disney Company's EPCOT center inside Florida.
As any real estate developer and owner, Tishman Realty offers inside its portfolio such prestigious
properties as the Westin new York in times Square, The Particular Sheraton Chicago Resort &
Towers, your Walt Disney Globe Swan and also Dolphin resort hotels, and also The Particular Westin
Rio Mar Beach Golfing Resort & spa within Puerto Rico.
In the brand name new Millennium, Tishman Construction is actually engaged inside creating new,
landmark high-rises, such as the innovative Freedom Tower at the world Trade center site, too as
the new 7 Globe Trade Center, along with one Bryant Park/Bank of America Tower within Midtown
Manhattan. Tishman's resume of recently completed buildings consists of the Conde Nast
Headquarters, the actual Reuters Americas Headquarters, and Judy and also Arthur Zankel Hall--all
in New York; the particular Boston Convention & Exhibition center throughout Massachusetts; and
the Strathmore Audio Middle inside Maryland.
Beyond its shaping of urban environments, Tishman is actually a pioneer in advocating and also
implementing style as well as construction techniques to advantage the environment as getting a
whole. Within performing so, the firm is becoming one of your nation's nearly all acknowledged
"Green Builders" for its unwavering leadership inside developing sustainable constructing methods
which always set the particular highest precedent using every successive project.
In add-on for you to its construction along with property arms, Tishman affiliates include: Tishman
hotel Corporation, specializing in hotel operations, as well as asset and property management;
Tishman real Estate Services, a new full-service, property advisor as well as brokerage organization;
Tishman Urban Development Corporation, specializing within joint public/private real estate
development; Tishman Technologies, serving the particular telecommunications as well as 24/7
world; and Tishman Interiors, that focuses on fit-outs of most types. Additionally, Tishman will be the
sole firm inside the development/building enterprise to possess its study affiliate, Tishman research
Corporation, that provides pioneered numerous items and techniques that have been adopted by the
commercial creating market as regular practice.
The Tishman legacy just isn't built in steel along with concrete alone. Underlying most the firm
partakes within is actually a passion regarding independent thinking, dynamic leadership, integrity,
as well as dedication to education, the environment, as well as cultural affairs. Determination to be
able to family, business, and the communities by which the actual firm does company are already
constants all through your storied good popularity for Tishman Realty & Construction, as may
become the comprehending that innovation, creativity, along with staying accurate for you to ones
core values are usually crucial touchstones to become able to longevity and success.
The Wien/Malkin Family
Among the particular esteemed The Huge Apple families that will built as well as sustained
dominant positions within real estate across multiple generations, 1 has a specific distinction: it's
got flourished consistently by simply rendering it feasible for other people to ensure success inside
real estate.
Lawrence A. Wien come up with concept of syndicating real estate in the 1930s, generating
immediate ownership involving income property accessible to sets of individual investors for that
first time. Within your early 1950s, Mr. Wien furthered the concept through structuring the really
first public real-estate syndications, you commence with 25 Broad Street in Manhattan's financial
district. Any short time later, he has been joined by simply his son-in-law, Peter L. Malkin, as well as
in the ensuing years they will raised your firm to a even higher amount of achievement using
landmark deals such as the acquisition along with syndication of the master lease of the Empire
State Building.
From that time on, the actual Wien & Malkin family provides elevated your bar associated with
excellence in real estate syndication, sustaining its concentrate on long-term value although
securities brokerages, investment banks and other entities often embraced faddish list investment
styles in which frequently burned out.
In the late 1980s, Peter's son, Anthony E. Malkin, became president with the service arm of the
family members business, W&M Properties, as well as achieved a pair of fundamental objectives.
Anthony produced any vertically integrated, full-service company in assistance involving Wien &
Malkin-led syndications, and additionally at the identical time, shifted your acquisition concentrate
in order to high-quality smaller properties in which weren't reaching his or her possible yet could
possibly be rejuvenated together with far better management and fresh capital. Your steep recession
of the early '90s shown a number of such excellent turn-around opportunities.
Wien & Malkin investors reaped the returns of the briskly recovering real estate industry in the
1990s, as distressed properties acquired upon favorable terms along with astutely repositioned
became thriving business centers along with multi-family communities. Throughout had been in now
that will Wien & Malkin pioneered real estate "branding" with their suburban Fairfield/ Westchester
Counties W&M Properties portfolio.
As the new millennium took hold, Wien & Malkin extended its achievement in branding W&M
Properties for you to its core Manhattan syndicated properties, creating the W&H Properties brand
under the guidance regarding Wien & Malkin Supervisory Services. This had been an instant
success, setting up W&H buildings as superbly situated and modernized properties that combine
pre-war type with the best-in-class typical areas and also pre-built offices and many up-to-date
technological as well as convenience amenities. Yet Another important element will be proactive
management and ready-to-do-business ownership.
Today, in the deal with of the fully-priced real estate money environment, Wien & Malkin remains
correct to its discipline, creating simply extremely selective acquisitions whilst continuing for you to
supply accredited investors many different alternatives, including mezzanine debt along with
preferred equity funds and also alternative investment items within real-estate and real estate-
related securities. Additionally, in the confront regarding higher octane pricing along with lower
capital gains tax rates, Wien & Malkin is actually offering properties.
Continuity, planned succession, creativity and a disciplined approach to the marketplace have made
the particular Wien & Malkin loved ones pre-eminent inside real estate syndication with regard to
greater than the half-century.
The Stacom Family
The Stacom Family Members features a lengthy history inside The Huge Apple real estate.
William B. Stacom was a builder involving houses around the Lower East side inside the early 1900s.
Matthew J. Stacom Sr. was obviously a builder of personal homes along with commercial-industrial
properties on long Island throughout the 1920s.
Matthew J. Stacom Jr., father of industry brokers Tara along with Darcy, as well as certainly 1 of the
industry's best brokerage professionals involving all-time, began using Cushman & Wakefield inside
1946.
He became an officer, executive committee member, stockholder and director within the 1950s
along with 1960s and it is at present Vice Chairman, based in Miami.
Among his many accomplishments, Matthew Stacom originated the particular sale involving
Cushman & Wakefield for you to The Particular Rockefeller Team coming from RCA within 1976,
and also ended up being instrumental within Cushman & Wakefield's acquisition in the 150-year-old
European real estate solutions firm, Healy & Baker.
His career consisted associated with main leases and purchases regarding office buildings
throughout the actual United States, such as the particular origination in the Sears Tower inside
1968, which usually had been then a tallest creating within the world.
The Stacom Family Members employed from Cushman & Wakefield offers included the actual late
Claire P. Stacom, Stacy, Tara, Darcy, Matthew III along with sons-in-law Eric Ossorio as well as
Chris Kraus.
Tara Stacom is Executive Vice President of Cushman & Wakefield plus a person in the actual firm's
Board involving Directors. she offers a lot more than 20 numerous years of experience in landlord
leasing, tenant representation, investment revenue as well as corporate finance transactions.
Tara provides consistently been one of the the majority of notable ten producers at the firm.
Throughout 2004, she ranked number one worldwide.
She is most widely regarded for her prominent landlord leasing agency assignments along with
currently handles the portfolio regarding properties in excessive of ten million square feet. Tara in
add-on has excelled from handling complex tenant representation assignments in behalf involving a
few of Ny City's largest employers, which includes Bank associated with Ny along with Going To
Nurse Support involving New York. Your Woman continues to be concerned with many property
sales, the majority of notably 48 Wall Street, 485 Lexington Avenue/750 Third Avenue, and also one
hundred Park Avenue.
She is really a trustee of Lehigh School and is chairing a manufacturer new initiative in Real-estate
Research within the Company College.
Darcy Stacom can be Executive Vice President and Companion regarding CB Richard Ellis. The Girl
offers designed a specialty involving constructing sales. Beginning using bread as well as butter
($15 for you to $30 million sales) inside the mid 1980's she carved a distinct segment that will grew
dramatically. Right After 23 years from Cushman & Wakefield, exactly where she served on the
Board regarding Directors and won the actual National Client services Award, the lady joined CB
Richard Ellis exactly where she runs the particular Investment Properties Team inside The Huge
Apple for CBRE. With Every Other using the woman's team she's got bought from excess regarding
$15 billion associated with real-estate inside Manhattan as well as a range of billion nationally.
Inside 1997 the girl has been nicknamed your "Queen in the Skyscrapers" from the Wall Street
Journal.
Both Tara as well as Darcy are usually proudest for you to basically be known as Matt Stacom's
daughters.
The Schor Family
Established from the Schor family, The Particular Treeline Companies, any premier, full-service real
estate ownership as well as investment firm situated in Garden City, presently owns and manages
greater than 1.5 million sq . ft . associated with strategically found commercial property inside the
NY Metropolitan area. Though Treeline's roots have been in Extended Island, its branches extend all
through the actual five boroughs associated with NYC, Westchester, and the higher Metro area,
which includes Nj-new Jersey along with Connecticut. their confirmed and also effective approach
for you to investment along with property management has been the finish result of strong ties as
well as commitment towards the communities that they serve. Strategic acquisition of exceptionally
positioned properties is the hall mark regarding Treeline's success. the organization is actually
currently evaluating an extensive array of investment opportunities as its company grows in order to
a brand new level. Prime targets regarding acquisition include institutional high quality properties
throughout the particular tri-state location which will take advantage of their own verified as well as
innovative methods of enhancing value.
In 2005, the Treeline Companies will vastly broaden its portfolio via the acquisition of Class Any
workplace properties throughout NY, NJ and also CT, each in its own and also together with
institutional investor partners. As the company meets this challenge, they have maintained an
exceptional status amongst brokers, tenants and in addition the entire real estate community for
impeccable ethical standards, proactive along with responsive management procedures and
intelligent and versatile investment acumen.
Frances Schor, CEO involving The Actual Treeline Companies, is surely an experienced real estate
expert along with certified real-estate broker which began the woman's profession being an investor
by simply developing and supervising the renovations of brownstones, co-ops as well as
condominiums. The Girl has forged Treeline's status as any possible aggressive development firm in
all areas of commercial real estate. Together With her husband Glenn, Ms. Schor has been
instrumental within creating the Treeline enterprise model as well as in developing Treeline's hands-
on approach to property management as well as tenant retention. Your Woman supervises property
level operations at all Treeline properties.
As Chief Operating Officer regarding the Treeline Companies, Glenn Schor directs investor relations
and is also accountable for property acquisitions and financing. Mr. Schor in addition plays a vital
role in Treeline's leasing activities, creating creative approaches to making as well as closing lease
deals. Glenn features over thirty years experience of property as being a developer, investor and
also attorney. His extensive knowledge and the wide range of contacts within the market enable him
for you to respond swiftly along with completely for you to facilitate and also conclude deals
involving remarkable complexity. He will carry on to measure the marketplace to discover
opportunities regarding Treeline for you to execute its company plan.
Michael Schor joined the actual Treeline team after a successful tenure as a possible attorney within
the Enterprise Finance & Restructuring Department with the international law firm, Well, Gotshal &
Manges LLP. Although practicing being an attorney, he labored around the insolvency cases of
Macy's, Olympia & York, Barney's, and also gained through that will expertise extensive knowledge
involving real-estate finance and in addition the restructuring involving distressed property debt.
From Treeline, Michael is actually accountable for just about all areas of your firms' real estate
acquisition along with finance activities. He in addition oversees Treeline's legal department and is
actually also involved with complex leasing transactions along with other legal matters.
Howard Schor joined The Actual Treeline Businesses recently as Vice President associated with
Strategic Operations along with Planning. Howard oversees the strategic planning operations along
with in-house management of Treeline's portfolio. Howard's job title had been produced by Treeline
in order to satisfy the demands of its corporate growth along with expansion in the new York region.
Howard had been formerly employed as Associate Media Director in the marketing agency
associated with Kirshenbaum Bond & Partners/ Your Media Kitchen. He features won several
marketing market awards including the 2004 Gold Effie Award as well as the Cannes Media Lion,
best Integrated Campaign, Silver 2003 with regard to his function supporting the actual campaign,
"Steven Spielberg Presents: Taken."
The Maidman Family
The Maidmans really tend to be a shining instance of how 1 loved ones has stayed forward by simply
mixing fundamentals along with new suggestions in nearly 6 decades of doing business in the new
York real estate market.
Ever since the particular 1950s when the late William Maidman went coming from dress
manufacturing to purchasing his 1st building--a factory about 39th Street--the Maidmans flourished
by sticking with a straightforward approach: Invest, manage, hold, spend a range of more, and also
in the wedding the cost along with buyer tend to be right, sell.
Today that will approach continues, albeit using cautious new direction, at the Maidmans' company,
Townhouse Management, beneath a new team which includes William's son, Richard H.M. Maidman,
Chairman along with Managing General Partner; William's grandsons, Mitchel Maidman, President,
along with Gregory Maidman, Chief Operating Officer; as well as Mitchel's wife, Arlene Maidman,
Director of Acquisitions.
The Maidmans possess a portfolio well over twenty residential properties with 800 units worth an
estimated $200 million. Many are five- as well as six-story pre-war walkups and elevator buildings
that the actual family offers purchased and also renovated through the actual years and so are
almost always completely occupied. Townhouse Management additionally operates over 40 parking
facilities having its affiliate the Manhattan Parking Group.
Last year, your family made headlines once they marketed the Chelsea with 160 West 24th Street
with regard to $93 million. Townhouse Management had purchased your Chelsea jointly together
with Pine Equity N.Y., within June, 2001, with regard to $63 million, with total investment following
high closing costs as well as renovation coming for you to with regards to $74 million. The Particular
family members renovated along with leased the whole building as corporate housing in order to
ExecuStay Corporation, the subsidiary of Marriott International, Inc.
One commercial property that the family members held quite any extended time and finally would
offer in the well-publicized deal is actually 113 West 42"d Street, which went for upwards of $13
million to Douglas Durst as part of your Occasions Square assemblage.
"The events involving September 11 prompted us to place aside some other concerns while focusing
on reviving the particular plans for your way forward for this excellent town. I am sure this is
specifically what my father, William Maidman, could have wanted," said Richard Maidman.
As a portion of the particular sales agreement, Durst had been needed in order to erect the plaque
on the new building he constructed that will commemorates your Maidmans' original ownership and
also its sale towards the Durst family.
Shortly following purchasing the actual Chelsea, the particular Maidmans undertook their most
ambitious project. they broke ground in 37th Street along with Third Voie for your Aurora, any 32-
story, 133-unit, mixed-use corporate housing and also luxury condominium apartment tower,
Marriott's very first ground-up corporate housing complex in the U.S.
Opened within the fall regarding 2003, the Aurora features 126 furnished studio and one-bedroom
units about the very first 25 floors leased to Marriott's ExecuStay along with available on the 30-day
minimum-stay rental basis. Townhouse is constantly on the manage the particular physical operation
for that Marriott. Your best seven floors of the Aurora are being sold as full-floor luxury loft
apartments with regard to $4 million each.
Still another project which in turn your Maidmans saw being an opportunity ended up being the
purchase along with gut renovation of a pair of apartment buildings at 35-37 East 63rd Street
straight into one 20,000-square-foot mansion, which is being marketed regarding S30 million.
The Swig Family
Founded inside 1936 by Benjamin H. Swig, The Particular Swig company provides established a
successful legacy like a developer, investor, owner and manager inside the commercial real estate
market. from its base inside San Francisco, Your Swig company has built the existence in a new
amount of major markets over the United States Associated With America by means of ownership of
prominent workplace along with resort properties. The Particular Swig Organization achieved early
renown because the force powering the particular famed Fairmont Resort brand. the Company
acquired the actual San Francisco Bay Area Fairmont Resort in the immediate post-World War II
time period and went on to become able to flag and/or develop hotels inside Chicago, New Orleans,
Dallas, Denver, San Jose, new York and Boston. The Particular flagship Fairmont Resort about Nob
Hill inside Bay Area has been featured within numerous films along with television shows.
While the hotels had been one in the most visible with the Your Swig Company's holdings, the
particular family members steadily built a main presence as a component developer, owner and also
operator regarding prominent office buildings and other commercial properties over the country.
Within 1998, with hotel values at or perhaps close to historic peaks, The Particular Swig company
developed a strategic decision for you to sell nearly all its resort holdings and also re-focus the
portfolio in office properties, new acquisitions along with development opportunities.
Today, your Company's workplace holdings comprise a lot a lot more than 11 million sq ft and can
easily include prominent along with historic buildings throughout markets for example New York,
Dallas, San Francisco, Oakland as well as Southern California.
Currently owned properties:
1114 Voie of the Americas
1411 Broadway
1460 Broadway
711 Third Avenue
7 Hanover Square
Buildings which The Particular Swig Business has both built or even owned, from 1 time, in 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 with the Americas
In addition, the actual company owns Penn Station inside Newark, N.J. Penn Station is an historic
Artwork Deco-era multi-modal facility, which, additionally for the Metropolis Subway, supports new
Jersey Transit commuter rail, Amtrak long distance trains, the particular PATH rapid-transit line for
you to new York City, as well as local, regional and also national bus services. Your station and also
land tend to be leased on a long-term time frame for you to Nj-new Jersey Transit. the owners have
got begun to always be able to check out future opportunities, such as air legal rights along with
development legal rights for the property, which, using latest improvements throughout Newark's
economic picture, are growing a lot more attractive.
The Rose Family
The story of Rose Associates, Inc. begins within 1928, using the construction of a 216-unit, six-story
apartment constructing by simply David Rose within Ny City. Today, your firm operates all through
the actual Northeastern as developer and manager of a lot a lot more than 30 million sq . ft . of main
workplace towers, commercial retail store centers, mixed-use complexes, along with high-rise
residential buildings.
For eight decades, your firm features demonstrated your ability along with economic power to reply
in order to a diverse range of challenges, via significant scale, new project development for the
rehabilitation and also repositioning regarding older properties. Because any result, Rose can be
increasingly inspired to offer development consulting as well as property management expertise
through leading monetary along with investment firms.
The Rose operating philosophy favors enduring, long-term relationships, with decisions depending
on a long-range perspective developed over many a extended time of ownership experience. This
specific emphasis about creating richesse value continues to be the foundation associated with
lasting associations along with prominent finance institutions and also real estate investors.
Born inside Jerusalem, David Rose throughout 1892 as well as Samuel Rose in 1890 started Rose
Associates throughout 1927. Amongst their finest known tasks ended up being the actual Banker's
Believe In Organization upon 280 Park Voie from 48th Street. in his later on years, David Rose took
a solid curiosity about health-related technology. He played a significant part in the design and also
construction of your particular pressurized surgery chamber with Mt. Sinai Hospital inside New
York. He furthermore acted like a consultant inside the design along with construction of Hadassah
Hospital in his native Jerusalem and furthermore at the particular Salk Institute within La Jolla,
California. He died inside 1986 in the ages of 94.
Samuel Rose died on September 3, 1964 at the chronilogical age of 74. He was a furrier too as a
founding partner associated with Rose Associates along together with his brother. In inclusion to
280 Park Avenue, additional buildings constructed from the Rose brothers are usually 300 Perk Voie
and also one Battery Park Plaza. Rose Associates also owns 344-46 East 58th Street; 771-85
Broadway, 1441-55 second Voie and also 2-8 William Street to end up being able to name a new few.
60-68 East 8th Street as well as 45 East 89th Street had been developed by Rose Associates.
Samuel Rose's son Frederick Rose (1923-1999) has been accountable for a couple of dozen main
apartment projects plus an equal variety of institutions which adorn your Ny skyline. Within 1999,
he supervised the construction of your 50 story apartment house, the Belvedere, in 29th St. in
between 5th & Madison. With the identical time, he oversaw the generating of Frederick Phineas
along with Sandra Priest Rose center pertaining to Earth along with Area that now houses the
Hayden Planetarium in the Museum of All-natural History. Rose donated $20 million and also acted
as Project Leader for your trustees.
Along using $15 million gift in order to Lincoln Center, he supervised the building of the particular
31-story Rose Creating that houses rehearsal area along with dormitories pertaining to musicians &
students at Juilliard, NY Philharmonic and the Institution of American Ballet.
All advised he donated $95 million to the cultural institutions of NYC.
Today, Rose Associates delivers full-service project responsibility-from initial concept for the last
finishing detail. The Actual firm integrates its own skills inside finance, planning, construction,
project administration, marketing, and also property management using the talents in the nation's
many innovate designers, consultants, as well as planners.
The Trump Family
Before there was "The Donald," there ended up being clearly just Fred C. Trump, among the past of
Ny City's excellent main postwar builders. Mr. Trump, similar to Sam LeFrak, an additional master
builder, helped adjust the encounter area of Brooklyn as well as Queens along with thousands of
homes for that middle class in plain however sturdy brick rental towers, clustered collectively
throughout immaculately groomed parks. Even though overshadowed within the news for the last
two decades by simply his flamboyant son Donald, Mr. Trump, any self-made man, built a lot a lot
more than 27,000 apartments along with row houses within the neighborhoods of Coney Island,
Bensonhurst, Sheepshead Bay, Flatbush, as well as Brighton Beach throughout Brooklyn and
Flushing and also Jamaica Estates in Queens.
Frederick Christ (pronounced Krist) Trump was created inside Ny Town inside 1905.
His father would always be a barber which arrived through Kallstadt, Germany, within 1885 and
Condos Sale Laurel MD joined your Alaska gold rush. By Simply the turn with the century, he owned
the White Horse Restaurant and also Inn throughout White Horse, Alaska, whilst furthermore
supplying food and also lumber for the miners. He went back in order to Germany to court his
neighbor Elizabeth Christ and also married your ex inside 1902. Any time they will returned to New
York, these people calmed down in the single-family house in Woodhaven, Queens. They Will had 3
children; when Fred C. was 13, his father died regarding pneumonia.
Two years later, from 15, he quickly began his or the girl own construction company whilst
continuing his secondary school education. He knew he had been also small to build entire houses,
therefore he thought of creating housing for your new mode involving transportation then sweeping
the particular nation; following all, individuals newfangled automobiles required garages. too
younger for you to indicator checks, he became partners with his mother, Elizabeth: that they known
as his or her company E. Trump & Son. His mother, whom was obviously a dynamo within her right,
had been the actual partner which signed the checks.
Their business would end up being a success, and also one of the points he did together using his
earnings, his sons said, ended up being to aid send his younger brother John for you to Brooklyn
Polytechnic Institute, then to be able to Columbia with regard to his master's then towards the
Massachusetts Institute associated with Technology, where he received his Ph.D.
When he started from Brooklyn Poly, John Trump was planning for you to become an architect and
furthermore to go into company with his brother Fred. the a pair of actually built one or two houses
together, nevertheless before long, these people realized they'd 2 different philosophies.
As he grew older, Fred Trump began building single-family houses within the late 1920's--most of
these in Queens--which were sold pertaining to $3,990 each. The Particular concept of supermarkets
was new back again then, too, when Mr. Trump built Trump Marketplace inside Woodhaven within
the core Depression as well as advertised, "Serve Your Self and Save!" it absolutely was an instant
hit. Regarding annually later, Mr. Trump marketed the shop for a profit for the King Kullen chain.
In world War II, Mr. Trump built barracks and also garden apartments for the Navy inside Chester,
Pa., Newport News, and also Norfolk, Va. When the fighting had been over and also apartments
regarding returning servicemen as well as their families were simply speaking supply, he branched
out straight into middle-income housing; he built Shore Haven inside Bensonhurst in 1949 and also
Beach Haven near Coney Island the actual next season for a total involving 2,700 apartments. in
1963, he put up the actual 3,800-apartment Trump Village inside Coney Island--five many years after
his contemporary, Mr. LeFrak, began Lefrak Town throughout Queens.
"He designed a excellent contribution; he filled a really big hole within the market," Mr. LeFrak
recalled. "We took Queens; he did more throughout Brooklyn. He was obviously a fantastic builder
who rallied towards the cause like we did; he built housing for the returning veterans. I guess you
can say we're the final of that old dinosaurs."
In 1936, Mr. Trump married Mary McLeod, which
had arrive at this country when the lady had been 19
via Stornoway, Scotland. Miss McLeod had 2 sisters
who lived in New York; shortly right after the girl
arrived, the girl sisters took the woman's into a
dance, exactly where the girl fulfilled Fred Trump.
they had 5 children. Additionally in order to his wife
and his awesome sons Robert as well as Donald, he
could be survived by simply a couple of daughters,
Maryanne Trump Barry associated with The big
Apple City, which is a Federal judge, as well as Elizabeth Trump Grau of The big Apple City. another
son, Fred Trump Jr., died within 1981.
In the particular recession of the 1970's, Mr. Trump, whom retained ownership of most of the rental
buildings he built, began getting up apartment buildings off their builders, who had encounter
trouble maintaining up their own properties. According to Edward S. Gordon, an industrial real
estate executive, Mr. Trump amassed the buildings in a "very quiet way." Mr. Gordon praised Mr.
Trump's business acumen, saying, "Most smart men and ladies compensated focus for the ball; Fred
Trump focused about the shadow with the ball."
In the actual mid-70's, Mr. Trump lent support--and the bit associated with money--to his son
Donald's aspirations associated with becoming a developer. "But what he lent was mostly
knowledge; Donald really did it about his own, along with whatever boost he got coming from being
Fred Trump's son, associated with course," Robert Trump said.
Donald Trump said he has been happy his father stuck to Brooklyn along with Queens. "It ended up
being best for me," the actual developer said, chuckling. "You know, becoming the actual son of
somebody, it could are already competition for you to me. This particular way, I got Manhattan just
about all for you to myself!"
Fred along with Mary Trump donated the actual pavilion that will bears your Trump title towards the
Jamaica Hospital medical Middle in appreciation of the care received there by Mrs. Trump. That
They gave any wo-building rental complex within Brooklyn for the National Kidney Basis of New
York/New Jersey and to Neighborhood Mainstreaming Associates associated with great Neck, a
company which provides homes for functionally retarded adults. Mr. Trump gave yet another
creating for the Cerebral Palsy Groundwork associated with new York as well as New Jersey, that
provides since turned it directly into co-op. He additionally supported the actual Hospital regarding
Unique Surgery within Manhattan, your Lengthy Island Jewish Hospital and the Kew Forest College
inside Queens, where his youngsters went together to school.
Fred's son Donald J. Trump, may use a different personality, however he too will be the extremely
meaning of the actual American good results story, continually environment the particular standards
associated with excellence while expanding his interests inside real estate, gaming, sports along
with entertainment. He can be a graduate in the Wharton school involving Finance and also began
his business career inside a workplace he shared along together with his father.
In new York City. your Trump signature can be synonymous with the most prestigious of addresses,
included throughout this the world-renowned Fifth avenue skyscraper, Trump Tower, the Trump
International hotel & Tower, voted your best US Resort by Conde Nast Traveler, Trump world Tower
in the Us Plaza, 40 Wall Street, as well as Trump Park Avenue. Besides New York, he could be
associated with creating properties throughout the nation, along with tasks inside Chicago, Las
Vegas, Miami, Atlantic City, Los Angeles, as well as Palm Beach. Mr. Trump's portfolio additionally
includes 4 award-winning golfing programs in New York, New Jersey, Florida and also California, as
well as the historic Mar-a-Lago Club throughout Palm Beach, Florida.
The Macklowe Family
Macklowe Properties had been founded inside the mid-1960's by simply Harry Macklowe, the actual
chairman of the company, whom presently runs the business within conjunction using its President,
William Macklowe. Regarding the past 40 years, the organization continues for you to be an
energetic as well as lucrative developer, acquirer, redeveloper, owner, along with manager of the
diverse variety of real estate investments. The Particular company features effectively achieved an
entire level of vertical integration, combining design, planning, construction, management,
accounting, as well as executive-level ownership as well as operation to supply with regard to
absolute responsibility along with control over its assets. These investments, which might have
covered virtually each sector in the property market, get included the actual development,
acquisition, and repositioning involving workplace as well as apartment buildings, land assemblages,
along with conversion associated with industrial along with loft properties. in the particular
aggregate, these developments possess totaled over 10 million square feet and took invest almost
each commercial along with residential submarket of Manhattan. The Actual company presently
owns approximately three million sq ft of office space and also 1,700 apartment units.
The company's diverse capabilities and also confirmed good results in conclusion transactions along
with completing projects has managed in order to get any favored counterpart within transactions
using economic institutions, tenants, brokers, along using other property owners in the Manhattan
property community. These longstanding relationships possess yielded usage of acquisition and
development possibilities just before they may possibly be widely marketed, resulting in lower
acquisition and start-up expenses than others which would likely be incurred below the competitive
bidding process. The Actual ultimate objective and mission of Macklowe Properties has usually been
your advance of secure as well as extremely lucrative property investments that may sustain and
develop by means of all company cycles. Moreover, our diversified portfolio approach offers enabled
us to adopt benefit of multiple and synergistic investment possibilities along with create a diversified
earnings stream for you to supply a steady foundation with regard to growth via market cycles.
The Uris Family
By creating more than 13 million sq ft associated with work place within seventeen skyscrapers
throughout Ny in between 1945 and 1971, Percy and also Harold Uris reshaped your midtown
Manhattan skyline and also stimulated the development of recent commercial districts in the city.
The sons of the Russian immigrant ironworker; the two brothers always knew these people would
follow their father, Harry H. Uris, into business. with him, they will built the actual Resort St. Moritz
and Buckingham Hotel. Right After college they formed a excellent investment creating firm, and
during the 1920's designed, constructed, and owned apartment houses. A Quantity Of of these
buildings included 1 University Or College Place, two Sutton Place, and also 880 and 930 Fifth
Avenue; they are among Manhattan's most desirable residential addresses today. The Actual
depression curbed their particular activity, however, and the sole constructing your brothers do in
the program of world War II has been defense housing for your federal government.
After the war, however, the actual Uris brothers came into their own. they built workplace towers in
380 Madison avenue (the web site involving that old Ritz-Carlton Hotel), with 300 Park Avenue, and
in addition at Lexington Voie from 46th Street. Within 1959 they formed a public corporation,
together with each and also every brother retaining thirty percent in the stock.
The brothers were any team. Percy, trained in economics in Columbia, handled your financing and
also mortgaging arrangements, and Harold, having a civil engineering diploma coming from Cornell,
ran your construction side in the firm.
Their significant projects followed incorporation. These People opened two Broadway throughout
1959, and the ITT Creating (320 Park Avenue) and in addition the Western Publishing Creating (850
Third Avenue) throughout 1961. The Actual next year the particular RCA Communications
Constructing (60 Broad Street) as well as the Sperry-Rand building (1290 Voie with the Americas)
were completed. the New York Hilton (1335 Voie of the Americas) registered its initial visitors
within 1963, and J.C. Penney moved into its new corporate headquarters in 1301 avenue in the
Americas the entire year after. The Actual Uris brothers finished the American Tobacco Organization
Constructing (245 Park Avenue) throughout 1967, and furthermore the Initial National Area Bank
Operations center (111 Wall Street) in 1968. The Actual brothers' last major The Huge Apple tasks
had been 1663 Broadway (1970), a business office tower cum genuine theatre, and also 55 Drinking
Water Street, (1971).
Besides this phenomenal activity, each brothers had been generous philanthropists, providing of
their particular time and energy also as money. Percy served Columbia as the president's assistant
for very first time construction, and as the actual donor of a hall for the Graduate Institution of
Business. Presently there is a Uris Hall from Cornell, too, where Harold funded much campus
construction along with renovation as well.
Percy died inside 1971 in the chronilogical get older of 72, leaving Harold in charge of what had get
to be the nation's largest publicly owned investment constructing company. Harold chose not to
carry on without having his lifelong companion as well as offered the business for the National
Kinney Corporation inside 1973. He died in 76 inside 1982.
The Zeckendorf Family
William Zeckendorf took Daniel Burnham's guidance in order to "make absolutely no little plans"
quite definitely to end up being able to heart. His gift regarding recognizing "a great piece of land"
as well as conceiving of the "suitable edifice" for it transformed dozens involving underused The
Huge Apple acres in to offices, hotels, housing projects, parks, as well as the headquarters with the
United Nations.
Born inside Illinois inside 1905, Zeckendorf was raised in the Bronx as well as attended The big
Apple University. Within 1925, throughout his a year ago of college, an uncle put him in manage of
renting certainly one of his office buildings. Zeckendorf filled your creating together with tenants
and also promptly left the College for your real-estate profession. He brokered for Leonard S. Gans
via 1926 for you to 1939, earning a partnership inside 1930. in 1937 he negotiated sales for any rival
business Webb & Knapp, plus a 12 months later joined these people as vice-president. Webb &
Knapp, ended up being then the pretty conservative business in which managed regarding forty five
million money valuation on property. Zeckendorf vastly broadened Webb & Knapp's horizons,
attracting clients like Vincent Astor, whose commissions contributed handsomely for the
organization coffers.
As his financial sources increased, Zeckendorf's plans for grand real-estate projects took a new
sharper definition. in your early 1940's, he assembled parcel in Flushing, exactly where he hoped to
construct purchasing center, hospital along with resort complex connected through underground
walkways, however these structures were in absolutely no way built. Throughout 1946 Zeckendorf
had paid $6,000,000 for that Swift and Wilson slaughterhouse land in the East River along with 42nd
Street, eight fetid acres whose odor was a nuisance in order to nearby Sutton Location as well as
Tudor City. He envisioned constructing a huge platformed community of offices, apartments, shops,
opera and convention halls, a 6,000-room-hotel along with yacht slips along with helicopter pads.
However he may find zero investors with regard to "X City," and also the terrain lay fallow. However,
Zeckendorf had been mindful of the actual dickering over a web site for your united Nations
headquarters. Only since the UN was about to begin out considering territory inside Philadelphia, he
offered this parcel. John D. Rockefeller II bought it $8,500,000 and introduced it towards the City.
As any result, new York became the world organization's home along with Zeckendorf reaped praise
as well as profit. He always referred to this transaction as his "capstone" achievement.
In 1949 Zeckendorf became the sole owner associated with Webb & Knapp, and also three a lengthy
time later he set up the Webb & Knapp Construction Corporation to ensure that the business could
also be general contractors for its projects. The Actual 1950's found Zeckendorf move in various
directions. He built Roosevelt Field, one of the first large suburban departmental stores in the
metropolitan area, about the former airfield in Lengthy Island. He developed a workplace park
inside Westchester. He began trading in major hotels and also workplace buildings, holding, at once
or other, the Astor, St. Regis and also Drake Hotels, and the Graybar as well as Chrysler Buildings.
He also attracted financing regarding a sizable textile center creating with 1407 Broadway.
In the particular mid-1950's, Zeckendorf began the purpose for urban redevelopment too, turning
out to be certainly 1 of the particular nation's leading developers of urban housing. He replaced
slum tenements along with huge new apartment projects: Lincoln Towers, with its more than 4,000
units adjoining Lincoln Center, set takes place for that renewal of the upper west side involving
Manhattan; Park West Village upon its 23 acre web site provided housing for nearly 2500 families;
and Kips Bay Plaza, designed through I.M. Pei & Associates, had been certainly certainly 1 of the
actual handsomest urban renewal projects.
In add-on to always be able to his record of enormous accomplishment as a builder, Zeckendorf's
uncanny capability to spot locations with promise led the way in which regarding additional
developers as well. With Regard To example, his unrealized plan in order to erect a sizable resort in
the corner associated with 51st Street and also Sixth Voie attracted additional resort developers to
Manhattan. Perhaps his short-lived American history amusement park within the Bronx, called
"Freedomland" (one regarding the very first "theme parks") was eventually recycled in in order to
the website for your enormous Co-op Area residential complex.
Zeckendorf's impact was felt not only throughout New York, but inside addition inside the
redevelopment associated with Montreal and Denver and additionally the construction regarding
Century city inside Los Angeles.
Today, the particular Zeckendorf tradition is carried upon William Zeckendorf's grandsons, brothers
Arthur and William Lie Zeckendorf. Since 1994, Arthur along with William Zeckendorf have been
principals in approximately $200 million of property development as well as acquisitions, including
2,000 condominium apartments. That They are owners and also Co-Chairmen of Terra Holdings,
LLC, which owns along with operates numerous real-estate support firms including Halstead
Property Company.
In 1995, your Zeckendorf brothers developed your Millennium Tower, any 75-unit condominium
from the top of the actual Lincoln Square condominium, inside partnership along with Sumitomo
Property sales as well as Goldman Sachs & Co. They Will possess additionally been active since 1994
throughout numerous advertising revenue efforts including the particular sales of third get-
togethers associated with CitySpire, the Ansonia and the Mondrian condominiums.
The Elghanayan Family
Rockrose Development Corp., an owner-builder-manager using a history of architectural excellence,
sensitivity to be able to neighborhoods and also cautious management involving its projects, was
founded more than 30 years back by the three Elghanayan brothers, Henry, Thomas and Frederick.
Named following the block they will grew up upon in Queens, Rockrose Place, the business began
with just about all the renovation associated with brownstones about West 16th Street inside
Manhattan. By Means Of their particular hard work as well as perseverance, Rockrose gradually
expanded to new apartment construction, significant scale rehabilitation, and also significant
workplace development.
Rockrose offers completed 39 projects and also presently features 3 tasks under construction
totaling over 10 million square feet regarding area as well as 7,500 apartments. Many of their
particular tasks have been achieved together with favorable public review and also design awards by
simply landmarks along with gov departments at the city, state along with federal levels. Amongst
these award-winning tasks are the 232-unit River Rose Apartments in Battery Park City's South
Cove; Tribeca Point, a new 350-unit residential building throughout Battery park City's North Cove;
your 470-unit Archive; the actual 337-unit Turtle Bay Towers; as well as Carnegie Hall Tower, a
535,000 square-foot Class a workplace creating on 57th Street in Manhattan.
In large part, your Elghanayans' achievement could be attributed for you to subsequent a new
straightforward business philosophy: select tasks carefully, program rigorously along with manage
intensely. For You To ensure constant performance, Henry, Fred as well as Tom oversee in-house
departments from Rockrose regarding every development, which includes acquisition, design,
construction, marketing and advertising along with management. This particular hands-on
operational type assures efficiency, controls expenses along with maintains quality.
The Winter Family
"Such things as luck, hunches along with speculative ideas play a new relatively little portion in
progress. This is actually mastery involving one's subject along with conservative dealing that have
brought good results to those who possess it."
Benjamin Winter Sr., amongst the initial involving New York's the majority of prominent self-made
real-estate entrepreneurs spoke individuals words inside a newspaper interview within the 1930s.
Today, the company, the fourth generation, family-operated private owner-developer and also
manager involving commercial, residential, store as well as industrial property in which nonetheless
bears his name, Winter Months Organization, upholds those exact same principles. Still centered on
the contemplative research associated with key markets along with long-term yet opportunistic
investing, Ben Winter and the brother Jim, Benjamin Winter Sr.'s grandsons, along with Ben's son,
David, adhere to the prudent conservative strategy associated with his or her founder, that has
become the hallmark with the company.
The story regarding The Wintertime Organization begins in 1901, when from grow older 19,
Benjamin Winter Sr. emigrated coming from Poland for you to New York. Benjamin Sr.'s father, who
had arrived within the united States per year earlier, took his son for you to see the great mansions
involving Manhattan, such as your Astor as well as Vanderbilt homes, the very day he arrived at
America. Although the elder Mr. Winter instructed his son that will America was indeed your
property associated with opportunity, he in simply no way could get imagined his son would, only a
decade later, arrive at personal both properties.
Through diligent study, Benjamin Winter Sr. quickly learned how an individual can purchase then
sell well-located properties inside rising neighborhoods. His investing prowess had been venerable-
-in a mere twenty years, he had took over as foremost realtor involving his generation together with
half any billion dollars throughout revenue for you to his credit. Throughout one 12- 12 months
period, he executed approximately 300 real estate transactions and also never when failed to
understand a profit. His portfolio associated with prominent properties came to range via the hotel
Delmonico, the particular Stanhope, the actual Resort Lenori, the particular Spanish Flats and
numerous residential properties alongside Park as well as Fifth Avenues.
In the actual 1950s, Marvin Winter, Benjamin Winter Sr.'s son, helped develop and solidify the
actual investment philosophy that has now characterized Winter Months Organization for rather
much a century. Following returning coming from military services and also consolidating his late-
father's holdings, Marvin Winter continued to end up being able to concentrate about the Ny
property market. Although Benjamin Winter Sr. had been among one of the most extremely regarded
pioneers inside the opportunistic trading involving real estate, Marvin Winter designed a belief in
establishing as well as holding well-located properties for your long-term. Several of the real estate
assets within the Winter portfolio nowadays happen for you to be held for a lot more than 50 years.
Now throughout its fourth generation, The Wintertime Organization, already well-entrenched within
the fiber in the Ny Area real-estate companies are poised for you to turn out for you to be an even
more prominent national investor within the many years ahead. But your old-fashioned principles
associated with hard work, dedication for you to purpose along with conservatism inside investment
will always be its guiding force.
COPYRIGHT 2005 Hagedorn Publication
No part informed may be reproduced without the particular express written permission from the
copyright holder.
Copyright 2005, Gale Group. Just About All rights reserved. Gale Team is a Thomson Corporation
Company.