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Great real estate families.

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The Durst Family
At your turn with the 20th century, a new younger immigrant arrived from Ellis Island with his
lifestyle savings--three dollars--sewn in in order to the lapel associated with his coat. Joseph Durst, a
charismatic and also difficult operating man, discovered America a new hospitable spot for
entrepreneurship plus 1915 made his first Manhattan property purchase, the tiny workplace
building in 34th Street.
So began The Actual Durst Organization, which, practically a century later--under the existing
leadership regarding cousins Douglas as well as Jonathan (Jody) Durst as co-presidents--ranks
among New York's largest and many very regarded loved ones owner/developers, using a worldwide
leadership role in the environmental development and sustainable energy movements. (A fourth
generation can be at present understanding the company from your ground up.)
Seymour Durst, Joseph's son, joined his father in the 1930s, along with later set happens to obtain a
long time associated with rapid growth via a new series of property assemblages upon each the
actual East along with West Attributes of midtown Manhattan. Seymour, whom author Tom
Schachtman once called "the premier property assembler of his generation," skillfully steered the
particular firm by means of volatile economic cycles. by your '80s, he had set up the Durst
Organization as a significant owner in Third Voie and also Voie with the Americas, with a midtown
workplace building portfolio regarding a lot a lot more than 5 million square feet.
As your decade stumbled on an end, Douglas Durst engineered a new near-miracle, negotiating any
inventive agreement for the IRS to take a new major portion regarding 1133 avenue of the Americas,
having a separate entrance in the "building within a new building" arrangement.
A couple involving years later, in the dramatic display of faith for your rebirth associated with times
Square, the actual Dursts initiated an additional growth cycle with their bold spec development of 4
times Square, the particular district's initial new workplace constructing throughout decades. An
instant success, the 1.6-million-square-foot tower took over as home with the Conde Nast global
publishing empire and headquarters of international law firm Skadden, Arps, Slate, Meagher &
Flom.
Equally important, 4 times Square emerged as being a model regarding environmental design,
winning awards and also setting new standards for indoor air high quality as well as innovative
renewable power management systems, water conservation, sustainable creating materials,
construction and also clean-up methods.
Durst's existing projects push "green" development even further. the 2.1-million-square-foot Bank
regarding America Tower at one Bryant Park, beneath construction on West 42nd Street, in a co-
venture with Bank regarding America, will be attracting worldwide attention with regard to its
innovations throughout conservation and comfort and also ease features.
The Helena, the 597-unit rental constructing with 11th avenue as well as West 5Th Street, is
predicted for you to become one of the first multi-family buildings to be able to make gold LEED
certification (Leadership within Power and Environmental Design) from your U.S. Green Buildings
Council.
A third main current project, an unusual mixed-use development co-ventured with Sidney Fetner
Associates and the Franciscan church, similarly reflects the particular Durst family members zeal
regarding environmental sensitivity inside design and also construction.
Jonathan, a new mechanical engineer by simply training, says your company's dedication to green
development "demonstrates that respect for that environment enhances productivity and the bottom
line. Any healthier working environment as well as reduced power costs advantages each owners
along with tenants."
Douglas, co-chairman in the Buddies regarding Hudson River Park, and chairman regarding New
H2o Taxi, is truly a potent advocate of earning better technique city's rich waterfront resources.
"The park can be opening New York's magnificent waterfront by adding over 500 acres associated
with public facilities, contributing immensely towards the city's standard regarding living and also
economic well being," says Mr. Durst. "New York is blessed with rivers, so we think these people will
be a growing aspect within our magnificent city's future development."
The Dolgin Family
When Kalmon Dolgin, a supermarket owner from Russia, made the decision to begin a real estate
brokerage company within Brooklyn, he most likely had not the clue that one hundred years later,
his great-grandson will be handling the particular firm's new investments.
Four generations involving realtors as well as investors at Kalmon Dolgin Affiliates Inc. possess
expanded throughout the bridge in order to Manhattan, The Actual Bronx, Queens, Extended Island,
lower Westchester, Connecticut, Nj-new Jersey as well as beyond, trying in order to keep a low
profile, nevertheless amassing a remarkable portfolio regarding commercial and industrial real-
estate up as well as on the East Coast.
For Dolgin's grandson, also named Kalmon Dolgin, 62, the key towards the business's achievement
offers rested on organization the ones skills.
"Most family members concerns in simply no way make it past the 2nd generation," Dolgin said. "It
needs a very unique stability regarding interpersonal relationships, expert respect along with
planning in order to become able to integrate your distinct skills that are essential for every
succeeding generation."
Dolgin mentioned the actual firm's longevity rested on the firm's commitment to organization and
expansion. the Dolgin firm's investment wing premiered inside 1943, if the founder's sons, Morris
along with Israel Dolgin, bought their own first creating on Hope and Roebling streets within the
Williamsburg area of Brooklyn.
The business continued for you to grow, with Israel's two sons, Kalmon as well as Neil joining within
the late '60s along with '70s respectively. Their Own investments expanded straight into
construction associated with workplace buildings along with buying centers, health-related plazas
along with industrial conversions over the East Coast. Divisions had been additional inside your firm
for appraisal along with third-party management. Kalmon Dolgin Affiliates operates a pair of
brokerage offices inside Brooklyn as well as the Bronx, with a Extended Island affiliate within Stony
Brook. more as compared to 40, full-time brokers provide transactional representation associated
with building owners, tenants, sellers as well as buyers. Upon the actual building management side,
the particular firm applies its accounting, architectural as well as operational solutions in order to
more than five million sq ft involving space. Likewise, Kalmon Dolgin Affiliates' appraisals are
usually recognized in each and also every and every court with regard to all purposes associated
with valuation.
The objective of the firm, Dolgin said, provides usually been "to construct on the foundation, boost
its stability, and also for an expansion in new directions that will develop a complete that's higher
than a sum involving its parts," he said.
The company's workforce has grown via a couple of in order to 60 men along with women, including
people specializing within professional support, accounting as well as management.
But since involving commuting situations, well-spread clientele and also smaller sized scale
operations, the business hasn't believed involving relocating to end up being able to Manhattan,
selecting instead in which in order to stay Brooklyn, based on Neil Dolgin, 53.
"We're extremely happy inside our little scenario getting the large fish inside the small pond," Neil
Dolgin said, furthermore noting your firm's diverse clientele. "Every distinct sect anyone can
possibly think about is situated throughout and about our outer boroughs."
Diverse age groups are generally represented inside Kalmon Dolgin as well, which range from Israel
Dolgin, which until his recent death with 92 was nonetheless being working from the firm's
Richardson Street offices, to be able to Josh Dolgin, 33, Israel's grandson.
And final year, Kalmon added, was "one of our banner years."
"We had been in a new position to adopt advantage of your recovering economy and a resurgence in
the outer boroughs, plus the undeniable fact that we expanded our presence within New Jersey,
Florida and some other sections on the eastern seaboard."
For Josh Dolgin, which handles your firm's new acquisitions along with financing, getting into the
real-estate business was obviously a no-brainer via childhood.
"I was often considering hearing my father discuss work--a lot more, I think, as compared to my
additional brother and also sister," he said. "I consider I always knew, since I was five, that will this
actually is where I would be."
The Gural Family
Aaron Gural taught his son in which the handshake has been of the same quality like a contract.
Decades later, which philosophy is actually still among your core beliefs from Manhattan-based
Newmark, certainly 1 of the largest impartial real estate firms inside the United States.
"That's certainly one of your benefits of your loved ones business. people know if they shake my
hand or even my son's hand, then that they possess a deal," explained second generation Chairman
Jeffrey R. Gural, whom at present works along along with his son Eric, his sister Jane as well as
nephew Brian.
Jeff Gural, 62, inherited the actual chairman title with Newmark several in many years past when his
now 88-year-old father stepped down because associated with declining health. However, he was
already any principal owner of the company, along with had been working together together with his
long-time partner, Barry Gosin to adopt the business in order to new amounts since 1978. within the
past decade, Newmark offers gone from primarily an owner and also manager of Garment District
and other secondary buildings all through Manhattan in order to a high national brokerage firm.
It provides evolved through an old-line new York Metropolis real-estate loved ones firm to become
able to an even more diversified leasing and managing agent to a major regional along with national
player using worldwide offices employing almost 800 people.
Gural and his partners personal the portfolio well over eight million sq ft associated with property,
including your landmark Flatiron Building. Annually, the actual firm completes more than 25 million
sq ft regarding transactions, priced at practically $9.5 billion within total consideration. Additionally,
Newmark manages and/or leases a lot a lot more than 50 million square feet associated with
commercial space nationally.
The firm provides remained profitable and secure through numerous economic cycles, and expanded
with a time when many fighting firms have contracted.
Jeff Gural credits loved ones ownership--and loved ones values--for a big a component of your firm's
success. "As an exclusive company, we are inside a position to produce decisions quickly. We don't
get to produce decisions depending on shareholder return or even value perception," Gural
explained. "We can depend on experience as well as instinct, and also use a really hands-on
approach for you to our business."
Gural mentioned he as well as Barry Gosin had been established to grow the organization while
maintaining your values upon which in turn it was established. "There will be anything vital which
you my father compared to integrity. That's some thing he passed to his family, the other we never
lost sight associated with even while i was expanding along with growing," he explained.
Aaron Gural is actually widely regarded as certainly 1 of your elder statesmen in the real estate
business inside New York. He climbed your ladder via an office boy with Spear along with Company-
-a firm started by 2 regarding his uncles--while attending college full-time within the 1930s. Aaron
Gural produced his mark as becoming a broker inside the Garment District just before opening his
own company in the 1950s. after several years upon his own, he joined Harris-Newmark, any
business founded inside 1905. He rose in order to companion and also several of his colleagues at
the firm subsequently bought it when Dave Newmark retired as well as Aaron became chairman.
Jeff Gural ended up being introduced for the enterprise when he was still inside college. He worked
as a possible elevator operator in the Newmark building between semesters although earning his
diploma in Civil Engineering from Rensselaer Polytechnic Institute.
After graduation, he left The Huge Apple to end up being able to work for your State of California as
an engineer upon public works. 2 many years later he ended up being back again in New York,
paying your next 6 years as the possible executive with Morse-Diesel Construction Co., where he has
been responsible for the supervision and also construction project management regarding a lot a lot
more than a million sq ft of latest workplace such notable buildings as 437 and also 645 Madison
Avenue.
He joined his father with Newmark inside 1972, and initially concentrated around the conversion of
little older commercial buildings straight into residential buildings. He soon earned the history of his
skills throughout acquisition along with development in these buildings as the Outdated McGraw
Hill Building, 10 Astor Place, 55 Wall Street, 40 worth Street as well as many other major properties.
In 1978, Gural and Gosin, who have been directing the firm's fee-generating solutions such as
brokerage along with management, bought the firm via his father and the a pair of remaining
partners. His Or Her strategy was to combine Aaron Gural's existing portfolio together with
continuing acquisition activity, although providing leasing and also managing services for your firm's
personal account as well as outside parties. Gosin had prior The Large Apple experience with
brokerage having began his profession with Eddie Gordon.
Jeff Gural credits Gosin, now vice chair as well as chief executive officer, pertaining to significantly
expanding your company. "Barry brought any desire to cultivate your company. He has been more
ambitious, along with had a real vision for expansion. He pushed us inside a direction to construct
our holdings and help make acquisitions with a time when owning property was a lot more
affordable," Gural recalled. "Today, in which strategy provides repaid as property values have got
soared."
Presently, in addition in order to serving as chairman, Jeff Gural concentrates on acquisitions and
also managing along with leasing properties in Newmark's non-institutional portfolio.
Gosin, alongside with almost all the firm's president, Jimmy Kuhn, directs day-to-day operations as
well as ensures the actual continued growth involving Newmark's commercial leasing activities. over
your course of his career, Barry offers facilitated a quantity of billion bucks worth of office leases.
Within yesteryear fifteen years alone, he has been accountable for leasing more than 30 million sq .
ft . of commercial space within a quantity of the largest and the lot innovative transactions
throughout The Huge Apple Area history, Gural noted. "Jimmy and a few of our younger partners
have got in addition been instrumental within the growth of Newmark."
"My dad usually mentioned to become careful once you pick your partners," Jeff Gural said. "I was.
The idea has worked out well for us both, and merely too for the company." However, Jeff Gural has
not necessarily lost target about the family, or even the significance associated with bringing
relatives in to always be able to the business.
His son Eric, 37, the 1990 graduate regarding Union College, can end up being a Senior Managing
Director of Newmark specializing inside owner representation as well as property management. His
primary responsibilities contain managing as well as leasing property around the West Facet of
Manhattan, where he manages the portfolio consisting associated with almost three million square
feet. That consists of 520 8th Avenue, any property he helped transform from the manufacturing
building into a company office complex, effectively leasing more than 600,000 SF; 1560 Broadway,
where he currently leases 240,000 SF; 630 9th Voie in which he currently leases 270,000 SF; and 5-
9 Union Square West by which he currently leases 100,000 SF.
More recently, a sister, Jane Gural-Senders, features joined the particular firm. she returned for you
to function following rearing five children, and is now managing a new constructing from 230 Fifth
avenue throughout Manhattan. He has additionally brought on a nephew, Brian Steinwurtzel, who is
running a quantity of buildings and also handling unique projects.
Jeff Gural can become a person in the actual Board involving Directors associated with the Real-
estate Board regarding Ny (REBNY) along with person receiving its 2005 Humanitarian Award. He
can furthermore be any vice president in the real Estate Lodge involving B'nai B'rith; president with
the Ny Chapter of The Actual Starlight Foundation; part of the actual Board involving U.S.O.;
Chairman regarding "IHAD-NY"; co-sponsor with the Chelsea-Elliott "I have A Dream" Project;
chairman with the Board regarding Directors with the District Management Association for the
Occasions Square Enterprise Improvement District; person in the Board regarding Directors of the
14th Street-Union Square District Management Association; member of the Board involving
Directors with the Eldridge Street Synagogue; along with member of the Board associated with
Directors in the Jewish community center with the Upper West Facet and a Board Member
regarding Cooper-Union.
Although he provides stepped down from most of your multiple positions he once served in new York
property because involving advanced age, Aaron Gural nonetheless supports the titles involving
chairman emeritus with Newmark and honorary vice chair with the Real-estate Board associated
with New York.
Jeff Gural has previously been searching forward--to your next generation in the family business. "I'd
prefer to hang around of sufficient length to get certainly one of my grandchildren interested," the
actual grandfather regarding five said. "But there're nevertheless young, almost all below get older
10. I guess I just have got to be individual ... and wait another 15 years."
The Fisher Family
Fisher Brothers is a privately held partnership made up of Fisher loved ones members, and also
currently operates near 6.5 million sq . ft . associated with Class a assets within The Large Apple city
along with Washington, D.C. Founded within 1915 by simply brothers Martin, Larry and Zachary,
your firm began by creating residential apartment buildings within Brooklyn, Queens, the particular
Bronx as well as Westchester. in your 1940's along with 1950's, they also developed major hotels
inside Florida, including the 300 room Sherry Frontenac throughout Miami Beach, leading up for the
firms' very first foray straight into Manhattan. Coming From your mid 50's by means of the 1980's,
Fisher Brothers developed a couple of of NYC's most prestigious residential addresses, including, on
the commercial side, 400 Park Avenue, their first office building, built inside the mid 1950's. during
your 1990's Fisher Brothers was certainly one of your largest purchasers regarding resort portfolios
from your RTC.
The current core portfolio throughout Ny Area includes:
Park Voie Plaza, 55 East 52nd Street--a Skidmore, Owings & Merrill designed constructing involving
1.2 million sq ft with Park Voie among 52nd along with 53rd Streets completed inside 1981. Widely
imitated pertaining to its many useful along with aesthetic breakthroughs: 12 corner offices per
floor, column-free 45-foot interior spans.
299 Park Avenue-l.1 million square feet among 48th as well as 49th Streets. Headquarters
pertaining to Fisher Brothers and North American headquarters for UBS Warburg. Originally built
more than primary rail tracks for the New Haven Railroad, generating its construction and
engineering a new remarkable coordination feat.
1345 Voie in the Americas-"The Alliance Money Building." 1.9 million sq . ft . throughout 50 stories
among 54th along with 55th Streets, along with fabulous views regarding Central Park as well as
proximity to Fortune 500 neighbors and the city's finest hotels and restaurants.
605 Third Avenue-"The Neuberger Berman Building." 909,000 sq . ft . involving high profile room in
between 39th and also 40th Streets. Blocks away from your new Grand Central as well as the United
Nations.
In Washington, D.C., Station Place-In any joint venture using Louis Dreyfus Property Group, the
actual partnership is actually at present developing 1.5 million sq . ft . involving Class a work place
adjacent to Union Station. Station Location will be Washington's largest private workplace
development, consisting involving three buildings separated by simply landscaped courtyards. Your
US Securities and Exchange Commission features leased more than a million square feet associated
with area throughout Buildings 1 and the pair of involving Station Place. Area will most likely be
obtainable in Constructing three in the third quarter involving 2006, including floorboards plates
involving approximately 32,000 square feet in order to 55,000 square feet, using a total regarding
505,000 square feet about 11 floors.
The firm provides steadily diversified its activities as well as assets more than yesteryear a amount
of decades and set up itself as getting a broad-based investment company. Today, your firm is led
through partners Arnold, Richard, Kenneth, Steven as well as Winston Fisher. Each and Every
assumes primary duty to find a various aspect with the business. With Every Single Other these
people preside over a business vastly a lot more complex, sophisticated, and also far-reaching
compared to the principal one these people inherited.
An example of Fisher Brothers now's their particular city Investment Fund, partnered along with
Morgan Stanley real Estate Fund IV, LP, an affiliate of Morgan Stanley & Co.. CIF is actually a great
investment vehicle produced expressly to always be able to pursue real estate investments inside the
particular 5 boroughs. The Particular fund targets investments within commercial, office, multi-
family residential, retail, mixed use, industrial as well as lodging hospitality real estate.
Growth in neighborhood support has also expanded
inside a large means over the past decades. from the
actual Intrepid Sea, Air & Area Museum, including
your Michael Tyler Fisher Middle with regard to
education and The Particular Intrepid Fallen Heroes
Fund to become able to 33 Fisher Houses globe wide,
the actual Fisher Brothers Basis and the Fisher center
with regard to Alzheimer's Disease Analysis Basis to
title one in the most visible enterprises.
The Koeppel Family
The management, leasing as well as progression of the particular Koeppel Businesses LLC property
portfolio are generally handled today by four Koeppel family members; Edward A.K. Adler, Caleb D.
Koeppel, David J. Koeppel as well as Sarah K. Cohn. Most attorneys, those are generally the fourth
generation in the Koeppel family members in the property business. Their Particular great-
grandfather, Abraham, was obviously a builder/developer of loft and also residential buildings in the
early years of the last century in inclusion to be able to their grandfather, Max, founded Koeppel &
Koeppel with his brother Harry involving the Globe Wars. for many many years beginning inside the
1960's, your senior principals in the firm were Max's sons, Alfred and Bevin. following Alfred's death
throughout 2001, the actual existing management company was formed by the subsequent
generation. Bevin Koeppel remains active in the business.
Highlights with the family's property activities over days gone by half century start with almost all
the purchase of the Normal Oil Constructing in 26 Broadway from the Mobil Oil Organization within
1956. This 650,000 square foot property has been purchased entirely vacant when Mobil transferred
to midtown. Installing central air cooling along with converting the particular 23 manually controlled
elevators for you to automatic had been the initial of many richesse tasks undertaken. Just Lately all
in the elevators had been when once more upgraded to end up being able to state-of-the-art
capability together with electronic access controls, and an extensive restoration of the limestone
facade ended up being completed this year. Your property has become the new York city Landmark.
575 Lexington Avenue, any 600,000 square foot workplace constructing built-in 1958, has been
bought by the Koeppel loved ones within 1965. The Actual entire building was renovated within
1990 while it had been 95% occupied. the renovation included a new glass and also aluminum
curtain wall, new retail store facades, new most marble lobby, and new elevators. Koeppel
Companies LLC main workplace can be positioned around the 29th floorboards with the building.
Until the particular late '80s, the particular family members held a considerable portfolio of
residential rental buildings within Manhattan, Queens, Brooklyn and also the Bronx, several beneath
family ownership for upwards of 60 years. one Manhattan building, 130 E. 63rd Street, originally
purchased by the family inside 1963, was converted from the luxury rental apartment building to a
cond-op throughout 1991. the 6 retail retailers about Lexington Voie became an industrial
condominium and happen to end up being able to be retained as a permanent section of your loved
ones portfolio. Inside your fourteen a lengthy time since your conversion became effective, revenue
of all however sixteen with the seventy-four cooperative apartments are already concluded as
renters vacate unsold apartments.
The family's 130 Fulton Street project has been underway for several years and also finalization is
anticipated from the first quarter of 2006. The Actual property formerly called 87 Nassau Street, any
nine-story loft/office building throughout downtown Manhattan, was integrated 1890 by Otto Kahn
along with may be in the family members portfolio since 1957. the project includes adding four new
floors towards the top of the actual structure, constructing about what have been the yard an
entirely new service core for elevator shafts as well as stairways, and the advance of 20 luxury
condominium units regarding sale. The Particular retail store retailers about Fulton and Nassau
Streets and also the next and arcade floors of commercial and also retail store space is going to be
retained as section of the particular loved ones portfolio.
In 1988, several of the actual Koeppel members of the family founded the actual complete support
property firm now known as KTR Newmark Real-estate Solutions LLC. KTR provides brokerage,
valuation, underwriting, environmental, engineering, construction loan monitoring along with
consulting solutions throughout the nation with its main workplace throughout The big Apple and
other offices located in Chicago, Dallas and Los Angeles. Newmark Real-estate Services, Inc. made a
strategic investment throughout KTR which usually transaction was completed in 2001. The
Particular alliance together with Newmark continues to be instrumental in broadening the market
penetration involving KTR while at the identical moment enabling Newmark to supply its customers
solutions in which a regular broker/manager doesn't offer.
The Gallin Family
From its begin in 1886 as being a tiny masonry and concrete company, John Gallin & Son, Inc. has
evolved in to a thriving construction company that will these days is run through direct descendants
of the original John Gallin: Mark Varian, any nephew in the Gallins along with present president, as
well as imes Square. The Particular firm furthermore is actually completing an assignment for that
Analysis Groundwork in the city College associated with new York (CUNY) from 230 West 41st
Street in Manhattan.
Gallin features won numerous awards along with accolades with regard to construction excellence.
By Simply strategically assisting its clients from the initial stages of the project to become able to its
final completion, Gallin features secured its reputation as being a top quality firm which consistently
provides superior function as well as keeps its promises.
Gallin's achievement lies in its ability to satisfy the challenges as well as changes of the times, a
characteristic which includes resulted in numerous faithful clients and a steady inflow of projects,
that have assisted shape the metropolis for more than the century and can carry on to do
consequently for decades to always be able to come.
The Kalikow Family
BY EDWARD KALIKOW
When Joseph Kalikow began his property career in the 1930's, the dynamics regarding the business
enterprise had been a lot less difficult than they are today. Right now there were absolutely no
REIT's or even collateralized mortgages; there was simply no bundling involving mortgages or
perhaps defeasance experts. Precisely what existed was obviously a moment where honesty,
integrity and relationships were valued as significantly as the good results that was amassed
through the accumulation of wealth.
During the past 80 years a lot is different within the property market along with fortunately your
characteristics embraced through Joseph Kalikow survive today. Joseph's sons--Harold, Nathan
along with Sidney continued in the tradition of his or her father constructing an empire that could
reach over 10,000 units associated with solid, multi-family rental units which are still producing
income, and therefore are homes to numerous New Yorkers today. Within his or her footsteps
followed their particular son's--Peter, Richard and myself--Edward Kalikow. We followed different
paths once the brothers went their particular separate ways inside the 1970's. Every people
continues to be effective within his own whole globe of the property industry. Today, I welcome the
actual involvement in the fourth generation inside the loved ones company started simply by Joseph.
Honesty, integrity, charity as well as devotion to be able to family members are traits that have
served as well as always serve the actual Kalikow loved ones well. These Days my management firm
Kaled Management Corp., (www.kaled.com) manages inside excess of 5,000 rental, co-op, condo and
HOA units within the Ny metro area. We still very own 2,000 units built and also acquired by Sidney
more than the decades.
Seeking opportunities within growth markets your newest portion regarding my firm The Actual
Kalikow Group, (www.thekalikowgroup.com) features over yesteryear ten many years provided
equity money to always be able to form Joint Ventures using neighborhood developers throughout
the particular country. We get raised in excessive associated with $60M which has enabled us for
you to participate in over $250M involving property ventures. A Amount Of in our markets include:
New York, Pennsylvania, Connecticut, as well as Massachusetts, both coasts associated with Florida,
Raleigh-Durham, North Carolina, Charleston, South Carolina, Houston, Texas, Pell City, Alabama as
well as Las Vegas, Nevada.
Relationships drive the particular achievement that has followed. Practically just about all of our
own developer partners continue to accomplish company with us. Earnings per reveal or the
vagaries of the capital markets do not necessarily motivate us. These types of "constraints" that a
few view as opportunities, inhibit my capability to offer with real-estate the way Joseph did. one
must "kick your tires", obtain dirty and have strong relationships. today it could end up being
extremely hard to develop a building based on the handshake the means by which Joseph did.
The dynamics associated with the marketplace location are usually constantly changing. where my
son Gregory as well as my nephew Jordan pick to adopt the business in the long term just isn't yet
know. However, embodied with just about all the fundamental concepts instilled inside them by me,
as taught by my father Sidney that was taught in order to him simply by his father Joseph, I
anticipate your Kalikow identify will carry on to be a shining star in our industry.
I wish by means of thanking Real-estate Each Week for nominating our house in their 50th
anniversary as among the truly amazing real estate families. We wish all of them significantly
continued achievement during their particular subsequent 50 years.
The Tisch Family
The story associated with Laurence (Larry) along with Preston Robert (Bob) Tisch as well as their
rise for the best echelons in the corporate world known in the annals involving business history.
Exactly what isn't widely reported is the role that "hard assets"--particularly property have got
played inside fueling the steady growth associated with their own business, Loews Corporation,
which is now among the country's best Fortune 500 diversified monetary corporations.
Larry and also Bob expended their own careers maximizing real-estate values along with capitalizing
on new investment opportunities--growing Loews right directly into a corporation using assets now
valued at more than $70 billion. Subsequent in their father's footsteps, the second generation
regarding Tisches--Andrew, James and also Jonathan, whom assumed the helm of the business inside
1999 following Bob and Larry stepped down coming from day-to-day management--continue their
father's company traditions and also appreciation of the real estate potential involving any kind of
holding.
For the Tisch family, everything began inside 1935, having a little summer camp in Blairstown, New
Jersey, that the particular family owned along with operated. While these people built the 32-room
guesthouse with regard to visitors towards the camp, the actual Tisches got their first taste with the
hotel business--marking first of the family's remarkable achievement story.
The sale in the camp provided the seed funds for that family's full fledged entry to the resort
business within 1946 once they purchased your 275 room Laurel-in-the Pines resort inside
Lakewood, New Jersey. Quickly they had sufficient income from your resort to purchase another-
-and just before extended had built a thriving resort chain throughout Manhattan, New Jersey,
Atlantic Area and Florida.
It was in 1959, when Metro-Goldwyn-Mayer has been instructed to spin off their Loews Theatre
division since associated with anti-trust regulations, that the Tisch brothers began to always be able
to broaden their particular business. These People bought your movie theater chain (then regarding
120 screens over the country) realizing the need for the actual property underneath everyone of the
actual buildings. a real-estate specialist, Arthur Raporte, had been added towards the Loews staff to
end up being able to assess the theater portfolio, maintaining individuals movie houses which are
viable as theaters along with offering individuals which were deemed to not have potential. He was
Loews 1st Vice President regarding Real Estate, succeeded simply by John Malino, who held that
position with regard to 35 years, along with followed by Jason Boxer, that now heads the particular
Property Department.
Funds in the theater sales propelled your brothers into an ambitious plan of resort construction. In
Between 1961 and 1963, the organization built seven hotels (six within Manhattan and one within
Puerto Rico) and the couple luxury apartment houses inside new York City.
Larry along with Bob continued to become able to expand, seeking under-valued assets, which, for
you to this day, is a keystone regarding Loews's philosophy. 1 such investment produced in 1995
through Loews insurance subsidiary CNA, had been purchasing associated with 25 1/2% equity
within Canary Wharf, the 15 1/2 million square foot commercial center within London. This
investment netted the actual Business $750 million, via a new mixture of rental income, dividends
and purchases of portions in the stake. CNA sold the last bit of the project final year.
Loews subsidiaries now include CNA; any tobacco company--Lorillard; an oil drilling company-
-Diamond Offshore Drilling; the fuel pipeline company--Boardwalk Pipelines, which consists
associated with two companies, Texas gas and Gulf South Pipeline; the watch as well as clock
company--Bulova; along with Loews Hotels, which usually is now offering 18 properties inside the
united States along with Canada. Every of these subsidiaries was included with significant real
estate, which has being managed, in a range of instances consolidated, and in a few cases sold.
Although property has not driven the actual Tisch family as well as Loews management, it is distinct
that will property assets have always been a big section of your evaluation method which occurs
when it arrives to a fresh acquisition. Since Bob Tisch, Chairman involving Loews, lately said, "We
have often tried to produce one of the most from real-estate which has occur using everyone of your
businesses we've bought--and I realize that the second generation will be continuing to accomplish
just that."
The Milstein Family
For three generations, the actual Milstein loved ones has been a main force inside the progression of
The big Apple City, the region, along with beyond. His Or Her entrepreneurial spirit is actually
evident inside their main holdings--Milstein Properties, Milstein Brothers Richesse Partners and the
Emigrant Cost Savings Bank--as well as the august institutions that bear their particular name:
Milstein Hospital building of Ny Presbyterian Hospital; Milstein Hall of Ocean Existence ("The Whale
Room") at the American Museum involving natural History; Milstein Division of local History,
American History and Genealogy in the new York Public Library; Milstein Hall in the Cornell
University's college involving Architecture, Milstein Plaza with Lincoln Middle for your performing
Arts, and several others.
The family members enterprises began together with Morris Milstein inside the wood flooring
business. Beginning using just his a pair of hands, Morris founded Circle Ground Company, Inc., in
1919. Circle floor grew and, after Globe War II, expanded into ground tile, acoustical ceilings along
with drywall construction. By Simply 1960, Paul Milstein had led Circle Ground to dominate the
actual new York market, installing floors--and later on walls along with ceilings--in many associated
with New York's greatest recognized modern landmarks: Rockefeller Center, the actual Un campus,
and also LaGuardia along with Kennedy airports, Lincoln Center, your world Trade Middle and the
new Madison Square Garden. Paul Milstein launched your family's initial property development
tasks within the 1950s.
The Milstein vision was to purchase large scale developments that might are designed to anchor as
well as revive ailing neighborhoods. Paul, together using his sons, Howard as well as Edward,
developed a keen vision pertaining to identifying neighborhoods exactly where they will observed
extraordinary prospective well before most others.
* while the actual Lincoln Middle region was still viewed through many via your prism regarding
"West Facet Story," the actual Milsteins developed three crucial buildings: Dorchester Towers (1962
[the first luxury constructing because region since the particular 2nd world War]), one Lincoln Plaza
(1972) as well as 30 Lincoln Plaza (1978).
* When East 96th Street was even now being viewed because the "DMZ," the Milsteins developed
the huge Normandie Court using 1500 80/20 units.
* Any time Battery Park was still uncooked landfill, the particular Milsteins built Liberty Court,
Liberty House, Liberty Terrance and, finally, Liberty View.
* Just Before Murray Hill became a new "hot" community around the East Side, the actual Milsteins
developed Windsor Court, a full square block.
* Any time Eighth avenue in Hell's Kitchen only agreed to always be able to be any tawdry extension
of times Square, the actual Milsteins bought the actual 1300 room resort that will end up being the
Milford Plaza, an as well as developed in which abandoned shell to the nearly all successful tourist-
class hotel within the Usa with the fabled Mama Leone's Restaurant. In exactly your same time, his
or her investment assisted in order to change New York's faded theater district.
In 1989, the Milsteins expanded beyond their particular tasks along with acquired Douglas Elliman-
-a white glove firm which inside fact had pioneered the actual concept with the Park Voie coop.
Simply By time they will marketed it within 1999, the particular Milsteins had parlayed your once-
venerable manufacturer these people acquired in in order to the gold standard for residential real
estate brokerage along with management in The big Apple City. As Well As these people used his or
her position to aid tidy up corruption inside New York's entire property management industry.
In 1986, the Milsteins acquired Emigrant Cost Savings Bank, any $3 billion historic NYC bank.
Beneath your leadership of Co-Chair, President and also CEO Howard Milstein, it really is now, with
$10 billion, the largest privately owned bank in the country.
Throughout the 2nd 1 / two of the particular 20th century, the particular Milstein loved ones offers
remained one of probably the actual most dynamic forces around the real-estate scene via their
particular activities, as well as coming from 1963 until 1999, his or her leadership regarding Starrett
Housing Corporation and HRH. Since regarding their own present projects:
* Your Milsteins tend to be creating the past remaining parcel regarding property within the times
Square area in in order to a mixed-use, innovative 850,000 square foot tower.
* they are usually creating more than one million sq . ft . of residential and store within Stamford,
CT.
* A New main residential project is under way Inside Ridgefield, CT.
* Inside long-depressed Niagara Falls, the particular Milsteins are usually implementing a new 6
million square foot mixed use urban redevelopment project.
And a fantastic many other long term projects....
Ogden CAP Properties
Drawing on the notable Milstein loved ones tradition regarding holding assets instead of acquiring
to trade them, whilst continuing to develop and cultivate their own portfolio, Seymour's children,
Connie and also Philip, and the granddaughter, Abby Elbaum, created Ogden CAP Properties in
2003. The Actual firm manages an extensive portfolio associated with prime residential, commercial,
and hotel properties inside The Huge Apple City, including Normandie Court, Windsor Court, one
Lincoln Plaza, Biltmore Plaza, along with Dorchester Towers. The Particular firm in addition is
constantly on the function the actual 1,300-room Milford Plaza Hotel, that is set for any tip-to-toe
renovation in the close to future, and there can be rumor of both an additional hotel and also bank
acquisition.
There can be the continued and also vital family members tradition regarding philanthropy, marked
by way of a long-term involvement as getting a trustee or even a board member of Columbia
University, Ny Presbyterian Hospital, your 92nd Street Y, as well as the The Large Apple Town
Opera, to cover any few.
"Connie, Philip as well as I hope inside environment up Ogden CAP Properties for you to achieve the
actual highest standards, as well as continue the actual values and philosophy of our father along
with grandfather," explains Abby, any fourth-generation Milstein, that left any career within private
banking in Seymour's request to be able to prepare to visualize the particular helm in the loved ones
enterprise.
"To which finish we have got been searching optimistically towards the future and a host associated
with exciting new challenges as well as possibilities that will help make my grandfather proud."
The Olnick Family
The Olnick Organization, Inc., any privately held, third-generation New York-based real-estate
development organization was founded through Robert S. Olnick more than fifty years ago. The
Particular firm is active in the development, management as well as financing regarding prime The
big Apple metropolitan area residential, workplace and hotel properties.
Today, beneath the direction in the late Mr. Olnick's son-in-law, business president Richard (Rick)
Lane and the son-in-law, executive vice president along with COO Neil L. Rubler, Olnick features
expanded its portfolio along with services. Olnick may become the owner of Manhattan office
properties 270 Lafayette Street as well as 130 Fifth Avenue, as well as in New Jersey, the particular
premier workplace properties 4 Gateway Plaza in Newark and also Headquarters Plaza within
Morristown (this property is owned throughout partnership together with Fisher Development).
The Benenson Family
Benenson Money Partners, LLC represents the extremely concept of "Real Estate Family." This kind
of private organization is actually built on a tradition that spans one hundred years. Next founder
Benjamin Benenson and the visionary successor Charles B. Benenson, today's new generation
involving leadership consists of Bruce W. Benenson, Frederick C. Benenson as well as Lawrence B.
Benenson, the actual founder's grandsons. With Every Other together with senior executives Richard
A. Kessler and also James E. Stifel, this team supplies a level of continuity and expertise which might
be unmatched inside the real-estate investment community.
Benenson Richesse Partners, LLC (BCP) is the management arm with the Benenson group of
companies including Your Benenson Richesse Company. Dating again to be able to 1905, Benenson
Money Partners provides usually been any leader among privately held operating companies
throughout real-estate investment, development and asset management. The Actual business owns a
lot much more than 175 properties, which includes retail, office, industrial, multifamily, hospitality
along with land all through your United States, Canada and Europe.
The Benenson family survived the particular Excellent Depression because in the company's
profitable lease along with the Horn & Hardart automat with 31st along with Broadway. Charlie
Benenson, an impressionable youth in the time, in absolutely no way forgot the actual crucial lesson
he learned. Thus began Benenson's good popularity for fantastic credit score tenants and also great
locations. 1 primary emphasis with regard to Benenson capital Partners can be single-tenant triple-
net leased properties occupied through significant corporate tenants. Corporations along with
entities together with which usually Benenson provides extended net lease relationships include
General Electric, home Depot, Wal-Mart, The Actual Ford Motor Company, the World Bank and the
U.S. Government.
Since its inception, the company provides expanded its property portfolio and keep a keen
contrarian eye with regard to long-term values. With Regard To example, the particular firm
acquired underdeveloped land inexpensively inside the 1960s and 1970s, after which effectively
developed this property throughout the 1980s as well as 1990s--building highly profitable mixed-use
properties across the country.
Benenson Money Partners also pursues strategic relationships along with value-added transactions
along with corporate tenants, lenders, along with joint venture partners. These kinds of initiatives
capitalize on opportunities inside undervalued assets, build-to-suit projects, new development as
well as redevelopment. Developments inside The big Apple consist of 1180 avenue in the Americas
along with Your Metropolis, a brand name new residential tower in East 44th Street.
As Benenson Money Partners has grown through acquisition, investment and also development
across the country, it remains, with its heart, a new "real estate family" business. Founded and led
simply by very principled people have been passionate about business, philanthropy and furthermore
the betterment involving The big Apple City, the company carries on within these traditions today.
during the 1990s, your firm focused on developing its management depth along with creating a
superb reputation for its professional staff, while upgrading its technologies and forming strategic
relationships together with leading corporate tenants, lenders and joint venture partners.
Today's Benenson capital Partners remains a new reflection involving its past leaders, but is actually
a modern entrepreneurial real estate company able to organizing and analyzing projects associated
with virtually any size. Your company's real-estate portfolio features strong geographic along with
tenant diversity, and its economic performance will not rely on just about any single company,
economic sector or perhaps property type. Your fourth generation of Benensons has become
emerging since the company's link to the future, as Benenson Money Partners enters its 2nd
century.
The LeFrak Family
Recognized as certainly one of the particular world's leading building firms, the particular Lefrak
Organization may be acclaimed internationally regarding its commitment to large-scale affordable
housing, responsible community development, and also sensitivity for you to environmental
preservation.
A paragon within its field, Lefrak revolutionized your constructing business using its "Total Facilities
with regard to Total Living" within vast communities, like Lefrak City--5,000 apartments upon 42
acres--where residents enjoy year-round on-site facilities pertaining to shopping, entertainment,
along with leisure.
The Organization in addition met your challenge associated with creating the particular 92-acre
Battery Park Area in the extremely first main waterfront landfill community within Ny within more
than 100 years. Lefrak built the first 1,700 apartments at Battery Park, the appealing Hudson River
esplanade, an underground garage, list as well as commercial space, along using a health insurance
swim club.
When Harry LeFrak founded your Lefrak Organization within 1901, he strived to recognize his
identify along with building integrity and also quality ... as a range of generations regarding
forefathers inside France had achieved just before him.
From 1948 until his death throughout 2003, Harry's son, Samuel J. LeFrak, as chairman with the
Company, initiated as well as oversaw an increase in construction to meet enormous post-World War
II housing demands. Simply By the particular early 1950s, the actual company in addition began in
order to reclaim huge tracts involving territory in order to develop innovative mini-cities regarding
that your Lefrak Organization has been acknowledged as becoming a leader within its field. Thus,
the actual Lefrak title is now synonymous using excellence within design, construction, engineering,
along with urban planning.
Today, Richard S. LeFrak, chief executive officer, chief operating officer, along with president,
together along along with his a couple of sons, Managing Directors Jamie and also Harrison, are
usually leading the Lefrak Organ nization into the future, although preparing the means by which for
that subsequent generation associated with LeFraks to imagine the actual mantle regarding
leadership.
Lefrak presently is building Newport, a new $10 billion development about 600 acres over the Jersey
Area Hudson River waterfront. Your largest mixed-use neighborhood inside the nation, Newport is
surely an environment encompassing your "total living" concept pioneered by simply Lefrak, and
represents the particular Company's resolve for serving shoppers and company by means of a
century-old tradition regarding excellence.
The Resnick Family
Founded by simply Jack Resnick inside 1928, Jack Resnick & Sons, Inc. continues in order to be the
leader within development, construction, ownership along with management involving commercial
along with residential real estate throughout The Huge Apple Area for much more than 70 years.
Burton R Resnick (Jack's son) joined the particular firm within 1953, became its chief executive
within 1971, and today may end up being the firm's Chairman of the Board along with Chief
Executive Officer.
One of the real estate industry's nearly all respected leaders, Mr. Resnick not too long ago served as
Chairman of the Board regarding Governors with the Property Board of The Huge Apple and is also
actively associated with countless philanthropic causes. with his 3 sons firmly entrenched within the
business, your family members tradition will continue. Scott Resnick, who joined the actual firm in
1989, is actually President and also Chief Operating Officer; Peter Resnick, that came aboard inside
1995, is a Managing Director within Commercial Leasing; and Jonathan Resnick, that arrived 1996,
is a Managing Director inside Construction.
The Resnick Loved Ones features developed, and owns, a new portfolio regarding crucial residential
along with commercial buildings (comprising approximately 1,500 apartments and also 5 million sq .
ft . of office space) within prime spots throughout Ny City, such as several luxury apartment
buildings such as The Particular Gershwin (250 W. 50th Street), Gracie Mews (401 E. 80th Street) as
well as Symphony Home (235 W. 56th Street), along with workplace properties like one Seaport
Plaza (199 water Street), A Pair Of Chase Manhattan Plaza (20 Pine Street), 110 East 59th Street,
485 Madison avenue and also 75 Park Place. The Particular family can be presently creating any 400
unit residential tower within Tribeca.
Jack Resnick & Sons, Inc. is actually comprised regarding experienced, high-level executives which
execute the particular firm's total services property capabilities within development, construction,
leasing along with management. The Majority Of of these executives have been related with all the
Resnick team for a lot more than twenty years, a tribute to the ownership as well as management
philosophy, too since the achievement in the firm.
The Rechler Family
Throughout their particular history, the actual Rechlers possess enjoyed the history of offering the
finest quality product and also support for sale in long Island's real estate market. Today, your
Rechlers tend to be drawing about his or her experience, knowledge involving different market
sectors, vision along with resources to create distinctive properties and also company solutions, not
only on long Island, nevertheless all through your region. Via their company R Squared LLC,
Mitchell Rechler and Gregg Rechler oversee over 7 million sq . ft . regarding properties all through
the particular The Large Apple Region, such as Rechler Equity Partners LLC, representing over 100
industrial and also office buildings on long Island.
The Rechler family members made its entrance directly into real-estate throughout 1958 with the
development of The big Apple City's 1st industrial park in Newtown Creek, Brooklyn. Just two years
later, the actual family began investing in Extended Island real estate, buying a quantity of industrial
properties, such as the particular 600-acre ITT parcel (formerly the particular Voice involving
America Operations Center), along with alternatives with an extra 600 acres to create the Vanderbilt
Industrial Park. in 1964, they developed the first planned industrial park in Lengthy Island--the
second largest industrial park inside the country.
The Rechlers did not stop there, plus 1968, Donald, Roger as well as their father William Rechler
founded Reckson Associates, any company which 2 yrs later developed the first award-winning, high-
tech industrial park throughout new York State, a 1.8 million-square-foot project inside Airport
International Plaza inside Bohemia.
Throughout the actual '70's along with '80's, the particular Rechlers became the leading developers
involving workplace along with industrial properties on long Island. in 1995, the particular Rechlers
as quickly as once again made history by simply taking Reckson public on the The big Apple Stock
Exchange as Reckson Associates Realty Corp. (NYSE:RA), together with approximately $285 million
in proceeds for the Company. Their Own original portfolio included 72 office and industrial
properties totaling 4.5 million square feet, substantially situated about long Island. Through 1996 to
be able to 2001 that they expanded the Business to incorporate properties in The Large Apple City,
Connecticut, Nj as well as Westchester--completing the particular Tri-State strategy, and also
growing your Company's portfolio to around 22 million sq . ft . with a total marketplace cap
involving $3.3 billion.
In 2001, while even now serving as Co-Presidents or Reckson, Mitchell Rechler and Gregg Rechler
formed R Squared LLC using their development of the $95 million retail center in White Plains,
followed with a group of some other retail, residential as well as hospitality tasks all through the
particular region.
In 2003, Mitchell, Gregg, Donald as well as Roger Rechler left Reckson and also formed Rechler
Equity Partners, which in turn acquired the long Island Industrial portfolio of Reckson Associates
Realty Corp. in a $315 million transaction.
The Rudin Family
The Rudin loved ones philosophy associated with property ownership truly began more than any
century ago when Samuel Rudin's father bought 153 East 54th Street. He suggested the particular
young Rudin to not ever sell the particular creating and in addition to make an effort to purchase all
of the property around it. Subsequent his father's advice, Samuel Rudin ultimately acquired any vast
majority with the surrounding properties and, in order to this day, the actual building remains a
proud section of what's certainly one of one with the most prized privately owned property portfolios
throughout new York City.
As the Rudin passion pertaining to new York real estate grew, Sam and his awesome brothers
Edward, Henry along with Nathan came up with management and also leasing company, Rudin
Management Co., in the early 1920's. Their Own simple principle involving vertically integrating all
aspects of real estate having a hands-on approach to become able to management continues these
days to attract some involving the world's the majority of prestigious tenants in order to Rudin's
residential and also commercial buildings.
After Globe War II ended, Sam and the sons, Jack as well as Lewis, lay out to grow their own
holdings and also positively influence the skyline involving New York, 1st along with apartment
buildings, and later on together with office buildings. Today, the business owns 16 Manhattan
workplace properties containing more than ten million sq ft associated with space.
Following Sam's death throughout 1975, Jack and Lewis took more than the organization rather than
only expanded its portfolio but advanced Sam's curiosity about philanthropic as well as civic affairs.
Inside 1971, Lewis, in addition to other business, real estate and civic leaders, come up with
Association for a Much Better Ny responding towards the fiscal crisis.
In the early 1990's William Rudin ended up being named president associated with Rudin
Management. at that period your property market inside The Huge Apple had been suffering,
specifically throughout lower Manhattan. William instantly devised a plan that spearheaded the
family's role in the revitalization involving downtown, creating a center for advanced companies at
55 Broad Street. This particular project set a fresh direction pertaining to Rudin, which in turn now
integrates the concept of broadband connectively into the fabric with the family's real estate.
Today, the third generation regarding Rudins--Eric, Beth Rudin DeWoody along with Madeline Rudin
Johnson--are actively involved in continuing the actual family's leadership role inside real estate.
The Stern Family
One in the most-repeated involving the fantastic American success stories begins inside 1926 if the
late Max Stern immigrated to end up being able to America from his native Germany together with
5000 vocal range canaries which he received throughout payment of a debt, spawning Hartz
Mountain Industries.
Expanding his company led him to manufacture bird food items beneath the Hartz Mountain brand.
In The Actual course Of the particular decades that will followed, Hartz pioneered the actual sale
regarding canaries, parakeets, hamsters, tropical fish, goldfish and their provides inside variety
stores throughout the actual Usa and Canada.
In 1959, at the ages of 21, Leonard Stern joined his father from Hartz Mountain, immediately
expanding the particular Company's bird food product lines to include a complete pet supply
department directly into more than thirty thousand supermarkets and mass merchandisers
throughout The United States and the United Kingdom. And Also he started addressing the
developing concern's property issues, relocating some operations from lower Manhattan in order to
property Hartz bought within New Jersey.
A shift of emphasis ended up being signaled inside 1966 when Hartz undertook a new major new
speculative industrial development Bayonne. two years later Hartz created the very first of various
main land acquisitions with almost all the obtain of the 750 acre tract of land inside the Nj-new
Jersey Meadowlands, under six miles via Manhattan, which usually now could be called Harmon
Cove and is actually also one of probably your most productive warehouse and distribution centers
in the world. Within occasion Hartz Mountain would obtain greater than 1,800 acres within the
Meadowlands as well as other large tracts elsewhere within New Jersey, along with real-estate
development would come to be the dominant activity with the company. A New strategic choice for
you to offer your pet goods company within 2000 further concentrated the actual company.
Currently, Hartz Mountain Industries owns a lot much more than 200 buildings comprising 38
million square feet, which includes 22 million-square feet regarding industrial, 10 million sq ft
associated with office, 2 million square feet regarding retail, and 11 hospitality properties containing
more than 2,200 rooms. most involving Hartz Mountain's holdings have been in New Jersey, but its
portfolio contains several notable Manhattan properties, including your chic Soho Grand along with
Tribeca Grand Hotels, along with 667 Madison Avenue, a new 267,000 square foot 25-story world-
class workplace building.
The late 1990s represented any significant threshold at Hartz, as the recovery of the commercial
property marketplace coincided with the promotion associated with Emanuel Stern, Leonard Stern's
son, in order to Chief Operating Officer associated with Hartz Mountain Real Estate. Within 1997
Hartz Mountain properly anticipated the particular rejuvenation in the Jersey Metropolis waterfront
by buying Colgate Center, triggering an intensive construction era pertaining to itself and also the
waterfront using its speculative growth as well as development of 70 as well as 90 Hudson Street. It
also developed the particular remaining acreage within Harmon Cove, adding 3 major new
warehouse facilities. and both Manhattan hotels were opened to end up being able to rave
evaluations and record rates, igniting a new even now burning trend regarding downtown boutique
hotels.
The turn of the century saw Hartz renewing its give focus to store development. Harmon Meadow,
the Secaucus-mixed use development that was your original model for your suburban lifestyle
middle had been reinvented with a distinctly big-box flavor by adding the Wal-Mart along with Sam's
Club within 2003 and this 12 months Marshalls, Residence Merchandise along with AC Moore
opened retailers and also will probably be joined within 2006 simply by Linens 'N Things.
Throughout all, nearly 1 million sq ft of new retailing will probably be opened, joined by new
restaurants and a rejuvenated tenancy at Hartz's adjoining Mill Creek Mall, now anchored simply by
Kohl's.
In early 2005 Hartz purchased a 102-acre web site on Route one in Edison, formerly a Ford
manufacturing plant, where it will create a fresh one-million-square-foot lifestyle middle together
with retail store and also entertainment uses. Promising another reinvention in the suburban mixed-
use experience, development of the last significant retail-friendly website throughout Middlesex
County is expected to commence in 2006.
Historically higher capitalization rates along with reduced rates associated with interest have got
caused latest shifts inside the Hartz Mountain portfolio strategy, specifically its shedding of several
office assets within the Meadowlands as well as development of latest investments within premier
suburban retail along with workplace markets. The Particular company added 15 Exchange Place,
the actual 135,000-square-foot historic neighbor associated with Colgate center within Jersey
Metropolis that has extended been the home of Wall Street clearing operations.
Hartz furthermore bought the finest office constructing throughout Ridgewood, outbidding greater
than twenty contestants and also spending a record cost with an outstanding as well as distinctive
110,000 square-foot asset. And, certainly not ignoring its roots, the organization is reinforcing its
position within the industrial marketplace by simply redeveloping and also repositioning some
warehouse facilities--it was not too long ago acknowledged through the Nj-new Jersey chapter
involving NAIOP like a Offer in the Yr Finalist in 2004 for redeveloping any former warehouse within
Harmon Cove into a banking middle regarding North Fork Bank.
Maintaining its power and also leadership position continues for you to be accompanied by
recognition involving its achievements, using the organization receiving several essential accolades
this year. This ended up being named by NJPA Real-estate Journal because the "Best Developer
involving 2004" and furthermore by Enterprise news new Jersey (NJBIZ) as one of the actual "Best
places for you to Perform within New Jersey" pertaining to 2004.
Often the particular senior player in an market represents a risk-averse air, nevertheless at Hartz
Mountain there's a established give focus to new opportunities. Along With its strong stability sheet
plus a extremely diversified professional management team, Hartz Mountain Industries provides
positioned itself to end up being able to carry on to construct and also add to end up being able to its
portfolio--and its legacy.
The Rockefeller Family
Throughout his life, John D. Rockefeller, Jr. had been involved in numerous worthwhile initiatives
around new York City--the Palisades Interstate Park, your Cloisters along with Fort Tryon Park,
Riverside Church, the particular United Nations, as well as the like.
While just about all of those endeavors are generally memorable, John D. Rockefeller, Jr.'s nearly all
enduring contribution to Ny City, your nation, as well as the planet might are already a real estate
project he undertook within the midst with the Excellent Depression--the construction involving
Rockefeller Center.
Rockefeller's original purpose for the property inside midtown Manhattan ended up becoming to
lease the territory through its owner, Columbia University, as a fresh home for that Metropolitan
Opera. When the Opera backed out of its share with the lease within 1930, it had been left to be able
to Rockefeller himself in order to shoulder the particular load. Faced with no tenants plus a 24-year
lease involving approximately $120 million in the center of your Depression--Rockefeller's job would
be a daunting one.
The construction cost regarding this sort of mammoth project had been enormous, as well as
because of the state in the economy, there ended up being clearly no assurance which tenants could
be found when the particular buildings were completed.
Rockefeller chose to proceed. He consulted with several distinguished architects along with
builders, whom modified the particular original proposal, envisioning within its place a new
"Rockefeller Center," to become utilized as any possible totally commercial development.
For the life span of the project, via 1929 to 1939, Rockefeller's expenditures upon construction,
taxes, lease payments, along along with other aspects totaled $125 million--the equivalent associated
with $1.5 billion today. Astoundingly, Rockefeller received absolutely no income from your project
and also recouped less than 50 % of the particular richesse he had invested.
Nonetheless, John D. Rockefeller's willingness to become able to move ahead on the construction
regarding Rockefeller center in a time of excellent economic distress inside the nation provided
much-needed employment in order to Ny Town construction workers.
The turning point pertaining to Rockefeller Middle came in the event it signed its 1st tenant, the
actual Radio Corporation associated with America which agreed to lease one million sq ft involving
room for offices and also film theatres in the project's significant building. with this major tenant in
place, architectural planning could go forward regarding nearly just about all of your site. Only as
important, through aligning a new property project using radio along with motion pictures--two of
this era's nearly all exciting technologies along with growth industries--a cachet was made for
Rockefeller center which includes continued into a fresh century.
Despite its tough beginnings, Rockefeller Middle became a universally acclaimed property property.
Since John D. Rockefeller, Jr.'s youngest son, David, wrote about the Middle inside his Memoirs
within 2002, "The clean, bold thrust involving its modernist lines and also rooftop gardens, gave it
the simple beauty, elegance, as well as imaginative top quality that silenced even its harshest
critics."
The risk taken through John D. Rockefeller, Jr., in the height in the great Depression, these days is
an acronym as being a model involving urban design plus a centerpiece inside the skyline associated
with Ny City.
The Riguardi Family
Combined, Edward and Peter Riguardi get more than 60 years of commercial real-estate experience
with Manhattan. And Also for your past twenty years they've got worked together from some of New
York's highest profile property companies, setting up the beginnings of your dynasty throughout
among the most dynamic property markets inside the world.
Edward Riguardi continues to be able to be called the "Dean of Property Management in New York."
He pioneered your institutional approach to property management inside Manhattan and also was
one of the extremely first executives from the property management facet associated with the
company in order to end up managing a full-service real estate company.
Edward Riguardi launched his career throughout Ny property from Williams Real Estate, where he
labored with regard to 29 years. He rose for you to become one of the firm's three senior executive
vice presidents as well as served like a part of its six-man executive committee, which in turn
oversaw the operations with the firm. at its peak, the Williams's portfolio comprised nearly 30
million square feet associated with office space in 200 Manhattan workplace buildings which
boasted more than 5,000 tenants.
Peter Riguardi also got his commence within the real-estate business in Williams, operating summer
internship applications in your program of high school and college. He joined the company total in
time 1983 right after graduating from Iona College. By Simply 1986, Peter had risen for the place
associated with senior vice president becoming the particular youngest executive to reach in which
degree inside the good popularity for the particular firm.
Edward and Peter Riguardi left Williams in order to launch Koeppel Tener Riguardi in 1989 along
with Edward serving as president, as well as Peter as co founder as well as director in the firm's
brokerage division. Edward Riguardi developed KTR's property management group, which grew for
you to oversee more than six million sq . ft . associated with institutional property, and he also
assisted Peter within the growth with the firm's brokerage, consulting along with appraisal
businesses. Edward along with Peter Riguardi were instrumental inside expanding KTR's consulting
and also appraisal business.
In 1994, Edward along with Peter Riguardi acquired KTR's leasing and property management
groups from their particular partners inside the firm, the Koeppel family. the Riguardis merged the
units together with Abrams Benisch & Riker to generate Colliers ABR, using Edward assuming the
particular role of co-chairman, and also Peter using the positioning regarding executive vice
president. Peter Riguardi additionally became a new major shareholder within the company. at
Colliers ABR, the Riguardis were crucial factors throughout boosting the actual company's profile
and also visibility within the Manhattan real estate market. Peter Riguardi completed significant
high-profile transactions such because the Metropolitan Transportation Authority's 1.6 million-
square-foot net lease from 2 Broadway, that remains the actual largest leasing transaction within the
history of New York. He also represented Morgan Stanley in the growth and also development of its
1.1 million-square-foot workplace building in 745 Seventh avenue as well as has been in charge of
coordinating Merrill Lynch's expansion along with property strategy throughout lower Manhattan.
In 2002, Peter Riguardi ended up being recruited simply by Jones Lang LaSalle Americas to serve as
president associated with its Ny office. He is in cost of broadening the particular company's new
York platform, and straight overseeing new business development as well as implementation as well
as the implementation of your complete array of real-estate solutions in the New York, Nj as well as
Connecticut area. Edward Riguardi joined him in order to serve as managing director at the
company, providing senior oversight with the management portfolio and corporate facility
management in almost all in the The big Apple metropolitan area, and also senior advisory to the
firm's management team.
In the actual greater than 2 yrs that has Peter helmed Jones Lang LaSalle's The big Apple office, he
provides assisted advance Jones Lang LaSalle right directly into a dominant market player. Jones
Lang LaSalle offers landed one with the most prestigious assignments throughout The big Apple
beneath his leadership, including Bank regarding America's 1.1 million-square-foot lease as well as
codevelopment agreement together with Durst Organization in one Bryant Park, the redevelopment
of Madison Square Garden, the property consulting assignment for the Port Authority about the
rebuilding of the world Trade Center, your redevelopment involving Governors Island, as well as the
redevelopment associated with Roosevelt Island.
Edward and Peter Riguardi both worth their own strong relationship as well as family members ties,
and consider their own work relationship only a part of the strong father and also son bond. Edward
and the wife, Marie, happen in order to be married for 48 a lengthy time and furthermore have a
pair of children, Peter and also oldest sister Sarah. Peter Riguardi and his awesome wife, Linda,
happen in order to be married regarding twenty years and possess 4 sons Eddie, Peter Jr., Nicholas
along with Alexander.
Interestingly, Peter's oldest son, Eddie, who recently graduated high school, will be interning from
Jones Lang LaSalle's The Large Apple office this summer. He will always work using the company's
project management group.
Jones Lang LaSalle may always be the world's leading property solutions and money management
firm, operating across more than one hundred markets across the globe. The Particular business
provides comprehensive integrated expertise, which includes management services, implementation
services and investment management services on a local, regional as well as global level for you to
owners, occupiers and also investors. Jones Lang LaSalle is also the industry leader within property
and corporate facility management services, using a portfolio that could reach over 835 million sq .
ft . below management worldwide. Throughout the Ny region, Jones Lang LaSalle provides leasing
and management services regarding 45 million square feet of office buildings.
For much more information, visit www.joneslanlasalle.com.
The Tishman Family
Tishman Realty & Construction Co., Inc., founded inside 1898 simply by Julius Tishman, can be
nowadays one of your world's premier builders, real-estate developers, and asset managers. Coming
From its original Owner/ Builder heritage in high-rise residential properties, the actual privately-
held organization has exploded for you to grow to end up being able to be an ubiquitous existence in
the construction, real estate, and resort industries, although inspiring an entrepreneurial spirit
throughout.
The firm is led by simply Julius' grandson, John L. Tishman, the actual longest serving Chairman
inside the company's history; John's son, Daniel R. Tishman, which heads up most regarding its
construction-related as well as technologies operations; as well as John A. Vickers, who's responsible
for the company's real estate ownership hobbies along with hotel management activities.
As a builder, Tishman features a expanding legacy involving landmark achievements to become able
to its credit, comprising the roster which includes facilities of each as well as every size as well as
type. Getting constructed over 425 million sq ft regarding space, the particular firm's notable
projects of the Twentieth Century range via the original Globe Trade Middle twin towers and also
complex, and restoration in the landmark Carnegie Hall as well as New Amsterdam Theatre inside
new York City; the actual John Hancock center throughout Chicago; Your Century Metropolis Theme
center throughout Los Angeles; along with Walt Disney Company's EPCOT Middle inside Florida.
As the real-estate developer and owner, Tishman Realty provides within its portfolio such prestigious
properties as The Particular Westin Ny with Occasions Square, The Actual Sheraton Chicago hotel &
Towers, the actual Walt Disney Globe Swan along with Dolphin resort hotels, and also The Actual
Westin Rio Mar Beach golf Resort & spa inside Puerto Rico.
In the brand name new Millennium, Tishman Construction can be engaged within creating new,
landmark high-rises, such since the innovative Freedom Tower in the world Trade Middle site, as
well since the new 7 Globe Trade Center, and 1 Bryant Park/Bank regarding America Tower within
Midtown Manhattan. Tishman's resume associated with not too long ago completed buildings
consists of the Conde Nast Headquarters, the Reuters Americas Headquarters, as well as Judy as
well as Arthur Zankel Hall--all inside New York; the Boston Convention & Exhibition center in
Massachusetts; and the Strathmore Songs center inside Maryland.
Beyond its shaping involving urban environments, Tishman is really a pioneer throughout advocating
and also implementing style and also construction processes to advantage environmental
surroundings like a whole. in performing so, the firm is now one of your nation's many recognized
"Green Builders" regarding its unwavering leadership throughout creating sustainable constructing
practices that will continue to set the actual highest precedent together with every successive
project.
In add-on to become able to its construction and real estate arms, Tishman affiliates include:
Tishman hotel Corporation, specializing throughout resort operations, and also asset along with
property management; Tishman Property Services, any full-service, real estate advisor as well as
brokerage organization; Tishman Urban Development Corporation, specializing within joint
public/private property development; Tishman Technologies, serving the particular
telecommunications and 24/7 world; and Tishman Interiors, which focuses primarily on fit-outs of all
types. Additionally, Tishman will be the only firm within the development/building enterprise to get
its analysis affiliate, Tishman Analysis Corporation, that features pioneered numerous items and also
techniques in which have been adopted by the commercial constructing market as regular practice.
The Tishman legacy isn't built in steel and also concrete alone. Underlying almost all that the firm
partakes in can be a passion pertaining to impartial thinking, dynamic leadership, integrity, as well
as resolve for education, the particular environment, as well as cultural affairs. Determination to be
able to family, business, as well as the communities by which your firm will business have been
constants throughout the particular storied reputation Tishman Realty & Construction, as is the
comprehending which innovation, creativity, as well as staying accurate to ones core values are
essential touchstones for you to longevity along with success.
The Wien/Malkin Family
Among the particular esteemed Ny households that will built and sustained dominant positions
within real estate across multiple generations, one includes a particular distinction: it's flourished
consistently by rendering it feasible for others to succeed inside real estate.
Lawrence A. Wien come up with concept regarding syndicating real-estate within the 1930s,
generating direct ownership involving earnings property accessible to become able to sets of
individual investors for the initial time. Throughout the actual early 1950s, Mr. Wien furthered your
concept by structuring the first public real-estate syndications, you commence with 25 Broad Street
in Manhattan's economic district. Any short time later, he had been joined by his son-in-law, Peter L.
Malkin, as well as in the ensuing many years that they raised the particular firm to an even higher
degree of achievement together with landmark deals such as the acquisition along with syndication
in the master lease in the Empire State Building.
From that period on, the particular Wien & Malkin family members features elevated the actual bar
of excellence in property syndication, maintaining its focus on long-term worth while securities
brokerages, investment banks as well as other entities frequently embraced faddish retail store
investment developments that frequently burned out.
In your late 1980s, Peter's son, Anthony E. Malkin, became president of the service arm of the family
members business, W&M Properties, as well as achieved two fundamental objectives. Anthony
developed a new vertically integrated, full-service organization within support involving Wien &
Malkin-led syndications, and in addition at exactly the actual same time, shifted your acquisition
emphasis for you to high-quality smaller sized properties that weren't reaching his or her
prospective however could probably be rejuvenated together with much better management and
also clean capital. Your steep recession with the early '90s presented a variety of such superb turn-
around opportunities.
Wien & Malkin investors reaped your returns of a briskly recovering real-estate market inside the
1990s, as distressed properties acquired on favorable terms and also astutely repositioned became
thriving company centers along with multi-family communities. Within has been with this time which
Wien & Malkin pioneered real estate "branding" making use associated with their suburban
Fairfield/ Westchester Counties W&M Properties portfolio.
As the newest millennium took hold, Wien & Malkin extended its good results inside branding W&M
Properties to its core Manhattan syndicated properties, creating the actual W&H Properties brand
name under the guidance regarding Wien & Malkin Supervisory Services. It was an instant success,
establishing W&H buildings as superbly found as well as modernized properties that will combine
pre-war type using the best-in-class widespread places along with pre-built offices and most up-t-
-date technological and convenience amenities. An Additional important element will be proactive
management as well as ready-to-do-business ownership.
Today, in the face of your fully-priced real estate richesse environment, Wien & Malkin remains
accurate to become able to its discipline, making simply really selective acquisitions whilst
continuing to always be able to supply accredited investors a assortment of alternatives, including
mezzanine debt and also preferred equity funds as well as alternative investment goods throughout
real estate as well as real estate-related securities. Additionally, within the confront involving high
octane pricing and low capital gains tax rates, Wien & Malkin is promoting properties.
Continuity, planned succession, creativity along using a disciplined approach for the marketplace
make your Wien & Malkin loved ones pre-eminent within real estate syndication regarding greater
than the half-century.
The Stacom Family
The Stacom Family Members features a lengthy history inside The Large Apple real estate.
William B. Stacom would end up being a builder of houses around the Lower East side in the early
1900s.
Matthew J. Stacom Sr. was a builder of private homes and also commercial-industrial properties
upon long Island during the 1920s.
Matthew J. Stacom Jr., father of sector brokers Tara along with Darcy, and also among the industry's
leading brokerage professionals involving all-time, began together with Cushman & Wakefield inside
1946.
He became an officer, executive committee member, stockholder as well as director within the
1950s as well as 1960s and is currently Vice Chairman, based in Miami.
Among his many accomplishments, Matthew Stacom originated the particular sale associated with
Cushman & Wakefield to always be able to The Particular Rockefeller group coming from RCA inside
1976, and was instrumental throughout Cushman & Wakefield's acquisition of the 150-year-old
European property solutions firm, Healy & Baker.
His career consisted of major leases and purchases of workplace buildings throughout the United
States, which includes the particular origination in the Sears Tower throughout 1968, which has
been then a tallest building inside the world.
The Stacom Family Members employed in Cushman & Wakefield features included the late Claire P.
Stacom, Stacy, Tara, Darcy, Matthew III as well as sons-in-law Eric Ossorio and Chris Kraus.
Tara Stacom can be Executive Vice President involving Cushman & Wakefield and a part of the
actual firm's Board associated with Directors. The Lady provides greater than 20 numerous a
lengthy time of experience with landlord leasing, tenant representation, investment sales and also
corporate finance transactions.
Tara features consistently been certainly one of the top ten producers at the firm. Inside 2004, your
woman ranked number one worldwide.
She can be the majority of widely regarded for her prominent landlord leasing agency assignments
as well as currently handles a new portfolio involving properties inside excess associated with 10
million square feet. Tara in inclusion has excelled in handling complex tenant representation
assignments in behalf involving a handful of of Ny City's largest employers, such as Bank associated
with new York and Going To Nurse service involving New York. The Girl has been 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 a trustee regarding Lehigh School and it is chairing a fresh initiative within real Estate
Research within the Company College.
Darcy Stacom will be Executive Vice President along with Companion regarding CB Richard Ellis.
she has developed a specialty involving constructing sales. starting using bread along with butter
($15 for you to $30 million sales) within the mid 1980's the lady carved a market in which grew
dramatically. Right After 23 years with Cushman & Wakefield, exactly where the lady served about
the Board regarding Directors and won the National Client services Award, the lady joined CB
Richard Ellis exactly where the lady runs the particular Investment Properties group within Ny for
CBRE. Collectively along with the woman's team she's sold in excess involving $15 billion involving
real estate inside Manhattan and also numerous billion nationally. Within 1997 the girl has been
nicknamed the actual "Queen in the Skyscrapers" through the Wall Street Journal.
Both Tara as well as Darcy are usually proudest to simply be known as Matt Stacom's daughters.
The Schor Family
Established through the Schor family, the Treeline Companies, a new premier, full-service real
estate ownership and also investment firm based in Garden City, presently owns and manages a lot
more than 1.5 million square feet of strategically positioned commercial property inside the NY
Metropolitan area. Though Treeline's roots are in Lengthy Island, its branches extend throughout
the actual five boroughs regarding NYC, Westchester, as well as the greater Metro area, such as
new Jersey along with Connecticut. Their Own verified as well as effective approach in order to
investment and property management has been the finish result associated with strong ties along
with commitment for the communities they will serve. Strategic acquisition involving exceptionally
situated properties may become the hall mark involving Treeline's success. The Actual company will
be currently evaluating a broad selection of investment opportunities as its business grows for you
to a new level. Prime targets with regard to acquisition contain institutional high quality properties
all through the particular tri-state location which will benefit from his or her verified along with
innovative methods regarding enhancing value.
In 2005, The Actual Treeline Organizations will vastly broaden its portfolio by means of your
acquisition of Class A New workplace properties inside NY, NJ along with CT, both on its really own
as well as with institutional investor partners. Because the business meets this challenge, they've got
maintained an outstanding popularity among brokers, tenants and additionally the entire real-estate
neighborhood with regard to impeccable ethical standards, proactive and also responsive
management procedures along with intelligent as well as versatile investment acumen.
Frances Schor, CEO involving The Actual Treeline Companies, is surely an experienced property
expert along with licensed real estate broker which began the woman's career as an investor by
simply developing and supervising the actual renovations of brownstones, co-ops and condominiums.
The Lady provides forged Treeline's popularity as an aggressive development firm in all facets of
commercial real estate. Together With your ex husband Glenn, Ms. Schor has been instrumental
throughout creating your Treeline business model as well as in developing Treeline's hands-on
approach for you to property management and also tenant retention. The Lady supervises property
level operations at all Treeline properties.
As Chief Operating Officer regarding Your Treeline Companies, Glenn Schor directs investor
relations and is actually also accountable for property acquisitions along with financing. Mr. Schor
in addition plays a key role in Treeline's leasing activities, creating inventive approaches to creating
and also closing lease deals. Glenn has over 3 decades experience of property as a developer,
investor as well as attorney. His extensive knowledge and his wide selection of contacts within the
industry enable him to react quickly as well as completely for you to facilitate and also conclude
deals associated with remarkable complexity. He is constantly upon the assess the marketplace to
locate opportunities pertaining to Treeline for you to execute its enterprise plan.
Michael Schor joined the Treeline team after a effective tenure being an attorney inside the business
Finance & Restructuring Department of the international law firm, Well, Gotshal & Manges LLP.
Whilst practicing being an attorney, he worked around the insolvency cases associated with Macy's,
Olympia & York, Barney's, and also gained via in which expertise extensive knowledge of real-estate
finance and in addition the restructuring associated with distressed property debt. at Treeline,
Michael will be in charge of almost all aspects of the firms' real estate acquisition and also finance
activities. He furthermore oversees Treeline's legal department and is involved with complex leasing
transactions along together with other legal matters.
Howard Schor joined the Treeline Organizations just lately as Vice President associated with
Strategic Operations and also Planning. Howard oversees the strategic planning operations and in-
house management of Treeline's portfolio. Howard's occupation title has been created by Treeline to
become able to satisfy the demands involving its corporate growth along with expansion within the
new York region. Howard has been formerly employed as Associate Media Director at the marketing
agency regarding Kirshenbaum Bond & Partners/ The Actual Media Kitchen. He has won numerous
advertising sector awards which includes your 2004 Gold Effie Award and in addition the Cannes
Media Lion, Greatest Integrated Campaign, Silver 2003 with regard to his work supporting your
campaign, "Steven Spielberg Presents: Taken."
The Maidman Family
The Maidmans really are usually a shining example of how one family features stayed in advance by
mixing fundamentals and also new suggestions inside nearly six decades of performing enterprise
within the new York property market.
Ever since the 1950s if the late William Maidman went via dress manufacturing for you to
purchasing his very first building--a factory on 39th Street--the Maidmans flourished through
adhering to any straightforward approach: Invest, manage, hold, make investments a range of more,
and also when the price as well as buyer are generally right, sell.
Today that will approach continues, albeit along with cautious new direction, at the Maidmans'
company, Townhouse Management, beneath a team which include William's son, Richard H.M.
Maidman, Chairman as well as Managing General Partner; William's grandsons, Mitchel Maidman,
President, along with Gregory Maidman, Chief Operating Officer; along with Mitchel's wife, Arlene
Maidman, Director regarding Acquisitions.
The Maidmans use a portfolio that could reach over twenty residential properties using 800 units
worth an estimated $200 million. Many tend to be five- and also six-story pre-war walkups and also
elevator buildings which usually the actual family offers purchased and also renovated over the
actual years and are nearly often fully occupied. Townhouse Management also operates more than
40 parking facilities having its affiliate The Actual Manhattan Parking Group.
Last year, the particular loved ones made headlines after they offered the particular Chelsea with
160 West 24th Street for $93 million. Townhouse Management had bought your Chelsea jointly
using Pine Equity N.Y., within June, 2001, regarding $63 million, along with total investment after
high closing costs and also renovation coming in order to concerning $74 million. The Actual loved
ones renovated and leased the whole building as corporate housing to always be able to ExecuStay
Corporation, a subsidiary involving Marriott International, Inc.
One commercial property the family members held a very long time last but not least did sell in the
well-publicized deal is actually 113 West 42"d Street, that went for upwards of $13 million for you to
Douglas Durst as portion of the Occasions Square assemblage.
"The events of September 11 prompted us to place aside some other concerns and concentrate about
reviving the actual plans for your way ahead for this great town. I'm positive this is what my father,
William Maidman, would have wanted," stated Richard Maidman.
As a part of the particular revenue agreement, Durst was necessary for you to erect any plaque on
the new constructing he constructed that commemorates your Maidmans' original ownership as well
as its sale towards the Durst family.
Shortly following purchasing the actual Chelsea, the Maidmans undertook their particular most
ambitious project. These People broke ground from 37th Street as well as Third avenue for that
Aurora, any 32-story, 133-unit, mixed-use corporate housing and luxury condominium apartment
tower, Marriott's first ground-up corporate housing complex inside the U.S.
Opened in the fall regarding 2003, the actual Aurora offers 126 furnished studio and one-bedroom
units about the initial 25 floors leased to be able to Marriott's ExecuStay as well as obtainable on the
30-day minimum-stay rental basis. Townhouse is constantly upon the manage the particular physical
operation for the Marriott. the top seven floors in the Aurora are increasingly being sold as full-floor
luxury loft apartments pertaining to $4 million each.
Still another project which usually your Maidmans noticed as the possible chance had been the
purchase and gut renovation regarding 2 apartment buildings from 35-37 East 63rd Street directly
into one 20,000-square-foot mansion, which is becoming marketed for S30 million.
The Swig Family
Founded throughout 1936 by simply Benjamin H. Swig, Your Swig Business offers established an
effective legacy like a developer, investor, owner as well as manager inside the commercial property
market. Through its base within San Francisco, The Actual Swig Organization features built the
presence in a quantity of significant markets throughout the united States through ownership of
prominent office and also hotel properties. The Actual Swig company achieved early renown as the
force at your rear of the famed Fairmont hotel brand. the Company acquired the particular San
Francisco Bay Area Fairmont Resort in the immediate post-World War II time period and also
proceeded for you to flag and/or develop hotels within Chicago, New Orleans, Dallas, Denver, San
Jose, Ny along with Boston. the flagship Fairmont hotel about Nob Hill within Bay Area may be
featured in numerous films along with television shows.
While the hotels were the most visible of the Your Swig Company's holdings, your family steadily
built a new significant presence as a component developer, owner along with operator regarding
prominent workplace buildings and other commercial properties throughout the country. in 1998,
with hotel values with or even close to historic peaks, The Particular Swig company designed a
strategic selection for you to offer many its hotel holdings and re-focus your portfolio in workplace
properties, new acquisitions along with development opportunities.
Today, your Company's workplace holdings comprise a lot much more than 11 million sq . ft . and
include prominent along with historic buildings in markets for example New York, Dallas, San
Francisco, Oakland along with Southern California.
Currently owned properties:
1114 avenue of the Americas
1411 Broadway
1460 Broadway
711 Third Avenue
7 Hanover Square
Buildings in which The Particular Swig Organization has both built or perhaps owned, in 1 time,
within Ny 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 Resort (Fairmont)
Two Fifth Avenue
405 Park Avenue
1065 avenue with the Americas
In addition, your company owns Penn Station inside Newark, N.J. Penn Station is surely an historic
art Deco-era multi-modal facility, which, in addition to the Area Subway, supports new Jersey Transit
commuter rail, Amtrak long distance trains, your PATH rapid-transit collection to be able to Ny City,
as well as local, regional and national bus services. The Actual station and also terrain are generally
leased on the long-term basis in order to Nj Transit. the owners get begun for you to explore long
term opportunities, which includes air rights and also development legal rights for the property,
which, using recent improvements in Newark's economic picture, are growing a lot more attractive.
The Rose Family
The story regarding Rose Associates, Inc. begins inside 1928, with all the construction of a 216-unit,
six-story apartment constructing through David Rose in Ny City. Today, the firm operates all through
your New England as developer along with manager involving greater than 30 million square feet
involving main office towers, commercial list centers, mixed-use complexes, as well as high-rise
residential buildings.
For eight decades, the particular firm offers demonstrated the actual skill as well as monetary
strength in order to react to become able to a broad range of challenges, coming from big scale, new
project development towards the rehabilitation along with repositioning of older properties. Because
a result, Rose can be increasingly inspired to offer development consulting and also property
management expertise through leading financial along with investment firms.
The Rose operating philosophy favors enduring, long-term relationships, using choices based on the
long-range perspective developed more than many a extended time of ownership experience. This
particular emphasis about creating money value has been the creating blocks regarding lasting
associations along with prominent banking institutions and property investors.
Born within Jerusalem, David Rose within 1892 along with Samuel Rose throughout 1890 began
Rose Associates in 1927. Amongst their finest recognized projects ended up being the particular
Banker's Believe In Organization in 280 Park Voie from 48th Street. in his later years, David Rose
took a strong interest in medical technology. He played a main portion within the style and
construction of a special pressurized surgery chamber with Mt. Sinai Hospital inside New York. He
additionally acted like a advisor within the design along with construction of Hadassah Hospital in
his native Jerusalem at the particular Salk Institute inside La Jolla, California. He died inside 1986 at
the ages of 94.
Samuel Rose died about September 3, 1964 at the ages of 74. He would end up being a furrier also
like a founding companion of Rose Associates together together with his brother. Besides 280 Park
Avenue, other buildings constructed by the Rose brothers are usually 300 Perk avenue and one
Battery Park Plaza. Rose Associates additionally owns 344-46 East 58th Street; 771-85 Broadway,
1441-55 2nd Voie and 2-8 William Street to title any few. 60-68 East 8th Street and 45 East 89th
Street had been developed by simply Rose Associates.
Samuel Rose's son Frederick Rose (1923-1999) was responsible for a couple of dozen significant
apartment projects and an equal variety of institutions which adorn the particular new York skyline.
Inside 1999, he supervised the actual construction of a 50 story apartment house, your Belvedere, on
29th St. between 5th & Madison. In the identical time, he oversaw the creating of Frederick Phineas
as well as Sandra Priest Rose Middle regarding Earth and Room that will now houses your Hayden
Planetarium at the Museum of natural History. Rose donated $20 million along with acted as Project
Leader for the trustees.
Along along with $15 million gift for you to Lincoln Center, he supervised the construction of the
particular 31-story Rose Creating that will houses rehearsal room as well as dormitories pertaining
to musicians & students at Juilliard, NY Philharmonic as well as the Institution involving American
Ballet.
All told he donated $95 million for the cultural institutions associated with NYC.
Today, Rose Associates delivers full-service project responsibility-from first concept to the final
finishing detail. The Actual firm integrates its abilities within finance, planning, construction, project
administration, marketing, as well as property management using the skills in the nation's most
innovate designers, consultants, and planners.
The Trump Family
Before there ended up being clearly "The Donald," there is merely Fred C. Trump, among the final
involving Ny City's fantastic main postwar builders. Mr. Trump, such as Sam LeFrak, another master
builder, helped adjust the face of Brooklyn along with Queens using a huge number of homes for the
center class throughout plain nevertheless sturdy brick rental towers, clustered with every single
other inside immaculately groomed parks. Even though overshadowed within the news for the last
20 years by simply his flamboyant son Donald, Mr. Trump, a self-made man, built more than 27,000
apartments and row houses within the neighborhoods regarding Coney Island, Bensonhurst,
Sheepshead Bay, Flatbush, as well as Brighton Beach throughout Brooklyn as well as Flushing along
with Jamaica Estates throughout Queens.
Frederick Christ (pronounced Krist) Trump came to become able to be within new York Metropolis
within 1905.
His father would always be a barber who arrived via Kallstadt, Germany, in 1885 and also joined the
actual Alaska gold rush. Through your flip of the century, he owned the particular White Horse
Restaurant along with Inn throughout White Horse, Alaska, while in addition supplying food and also
lumber towards the miners. He went back in order to Germany to be able to court his neighbor
Elizabeth Christ and married her throughout 1902. While these people returned to New York, they
settled down in a single-family house throughout Woodhaven, Queens. They Will had three children;
when Fred C. ended up being 13, his father died of pneumonia.
Two many years later, in 15, he quickly began his own construction enterprise while continuing his
high school education. He knew he ended up being also young to create entire houses, therefore he
thought associated with creating housing for that new mode associated with transportation then
sweeping your nation; right after all, these newfangled automobiles necessary garages. too small in
order to sign checks, he became partners together with his mother, Elizabeth: they will referred to
as their particular company E. Trump & Son. His mother, that was a dynamo in her own right, was
the actual companion that signed the checks.
Their company was obviously a success, and among the items he does with his earnings, his sons
said, was to assist send his younger brother John for you to Brooklyn Polytechnic Institute, then to
always be able to Columbia pertaining to his master's after which for the Massachusetts Institute of
Technology, exactly where he received his Ph.D.
When he soon began at Brooklyn Poly, John Trump had been planning for you to become an architect
also to enter into enterprise along using his brother Fred. Your a pair of actually built one or even
two houses together, but prior to long, they will realized they'd a couple of different philosophies.
As he grew older, Fred Trump began constructing single-family houses within the late 1920's--most
of them in Queens--which had been sold for $3,990 each. The Actual concept associated with
supermarkets has been new back again then, too, when Mr. Trump built Trump Marketplace within
Woodhaven within the center of the Depression along with advertised, "Serve Oneself along with
Save!" it had been an immediate hit. With Regards To annually later, Mr. Trump marketed the shop
for any profit towards the King Kullen chain.
In world War II, Mr. Trump built barracks and also garden apartments for that Navy inside Chester,
Pa., Newport News, as well as Norfolk, Va. When the fighting has been more than and also
apartments with regard to returning servicemen in add-on for you to their families had been in a
new nutshell supply, he branched out straight into middle-income housing; he built Shore Haven
inside Bensonhurst within 1949 as well as Beach Haven near Coney Island the actual next season for
a total associated with 2,700 apartments. Inside 1963, he put up your 3,800-apartment Trump
Village in Coney Island--five years following his contemporary, Mr. LeFrak, began Lefrak Town
inside Queens.
"He made a great contribution; he filled a really large hole within the market," Mr. LeFrak recalled.
"We took Queens; he does more within Brooklyn. He was a great builder which rallied to the trigger
similar to we did; he built housing for that returning veterans. I guess you could say we're the final
regarding that old dinosaurs."
In 1936, Mr. Trump married Mary McLeod, that had arrive at this country when the lady has been
19 from Stornoway, Scotland. Miss McLeod had a couple of sisters whom lived inside New York;
shortly right after the lady arrived, your ex sisters took her to some dance, where the lady achieved
Fred Trump. They Will had five children. Furthermore to his wife and his sons Robert and Donald, he
could be survived by a pair of daughters, Maryanne Trump Barry of Ny City, that is really a Federal
judge, along with Elizabeth Trump Grau of Ny City. Yet Another son, Fred Trump Jr., died in 1981.
In the actual recession in the 1970's, Mr. Trump, whom retained ownership regarding most of the
actual rental buildings he built, began purchasing up apartment buildings off their builders, that had
run into problems maintaining up their own properties. Based on Edward S. Gordon, a commercial
real-estate executive, Mr. Trump amassed the buildings inside a "very quiet way." Mr. Gordon
praised Mr. Trump's business acumen, saying, "Most smart men and ladies compensated focus
towards the ball; Fred Trump centered about the shadow in the ball."
In the actual mid-70's, Mr. Trump lent support--and the bit regarding money--to his son Donald's
aspirations regarding learning to be a developer. "But what he lent has been mostly knowledge;
Donald actually made it happen about his own, in supplement to whatever boost he got via becoming
Fred Trump's son, of course," Robert Trump said.
Donald Trump mentioned he has been happy his father stuck for you to Brooklyn along with Queens.
"It ended up being best for me," the actual developer said, chuckling. "You know, becoming the son
regarding somebody, it could happen for you to be competition in order to me. This specific way, I
got Manhattan most to always be able to myself!"
Fred and Mary Trump donated your pavilion that bears the Trump title for the Jamaica Hospital
medical center inside appreciation in the care received there simply by Mrs. Trump. they gave a wo-
building rental complex inside Brooklyn to the National Kidney foundation regarding New York/New
Jersey and furthermore to Neighborhood Mainstreaming Associates associated with Excellent Neck,
a company that will provides homes pertaining to functionally retarded adults. Mr. Trump gave
another constructing for the Cerebral Palsy foundation associated with The Huge Apple as well as
New Jersey, which offers since turned it into co-op. He also supported the particular Hospital
pertaining to Particular Surgery throughout Manhattan, the actual Extended Island Jewish Hospital
and the Kew Forest school in Queens, exactly where his youngsters visited school.
Fred's son Donald J. Trump, may have a very different personality, but he too will always be the very
meaning of your American success story, continually environment your standards associated with
excellence while expanding his interests in real estate, gaming, sports along with entertainment. He
is actually a graduate with the Wharton school regarding Finance and started his business
profession in a company office he shared with his father.
In Ny City. the Trump signature is synonymous using the most prestigious involving addresses,
among them the actual world-renowned Fifth avenue skyscraper, Trump Tower, the actual Trump
International hotel & Tower, voted the greatest US Resort by Conde Nast Traveler, Trump Globe
Tower at the united Nations Plaza, 40 Wall Street, along with Trump Park Avenue. In add-on to New
York, he could be associated with creating properties across the nation, along with tasks within
Chicago, Las Vegas, Miami, Atlantic City, Los Angeles, along with Palm Beach. Mr. Trump's portfolio
in addition consists of 4 award-winning golf programs within New York, New Jersey, Florida and also
California, as well as the historic Mar-a-Lago Club in Palm Beach, Florida.
The Macklowe Family
Macklowe Properties has been founded in the mid-1960's by Harry Macklowe, your chairman in the
company, whom at present runs the organization in conjunction having its President, William
Macklowe. Pertaining To the past 40 years, the business may be a dynamic as well as lucrative
developer, acquirer, redeveloper, owner, as well as manager of the diverse selection of real-estate
investments. the company offers effectively achieved an entire amount of vertical integration,
combining design, planning, construction, management, accounting, as well as executive-level
ownership and also operation to offer with regard to absolute duty and also treating its assets. These
kind of investments, which have covered virtually each along with every sector of the property
market, have included the actual development, acquisition, along with repositioning of office along
with apartment buildings, terrain assemblages, along with conversion of industrial and loft
properties. Inside the aggregate, these developments have totaled more than 10 million sq . ft . as
well as took place in nearly each and every commercial and residential submarket regarding
Manhattan. The Actual organization currently owns approximately three million sq . ft . regarding
work place along with 1,700 apartment units.
The company's diverse capabilities along with confirmed success in closing transactions and
completing tasks features made it a favored counterpart throughout transactions using monetary
institutions, tenants, brokers, as well as other property proprietors in the Manhattan real estate
community. These kind of longstanding relationships have yielded usage of acquisition along with
development opportunities before they may possibly be widely marketed, causing lower acquisition
and also start-up expenses than others which may most likely become incurred beneath any
competitive bidding process. The Actual ultimate objective and mission regarding Macklowe
Properties provides often been the actual creation of secure and highly lucrative property
investments which will sustain along with grow through most company cycles. Moreover, our
diversified portfolio approach offers enabled us to consider advantage of multiple and synergistic
investment possibilities and build a diversified earnings stream for you to give a stable basis
regarding growth via market cycles.
The Uris Family
By building a lot more than 13 million sq ft associated with work place within seventeen skyscrapers
throughout new York between 1945 and 1971, Percy and Harold Uris reshaped your midtown
Manhattan skyline and also stimulated the development of new commercial districts within the city.
The sons of your Russian immigrant ironworker; the two brothers often knew they would comply
with their own father, Harry H. Uris, straight into business. with him, they will built the actual
Resort St. Moritz and Buckingham Hotel. Following college these people formed a excellent
investment creating firm, along with throughout the 1920's designed, constructed, and also owned
apartment houses. Several of those buildings included 1 College Place, 2 Sutton Place, and 880 as
well as 930 Fifth Avenue; they may well be amongst Manhattan's many desirable residential
addresses today. Your depression curbed their own activity, however, and the merely real
constructing the brothers do throughout world War II had been defense housing for that federal
government.
After your war, however, the Uris brothers came into their own. These People built office towers
with 380 Madison avenue (the web site involving that old Ritz-Carlton Hotel), in 300 Park Avenue,
and additionally at Lexington Voie in 46th Street. in 1959 they will formed the public corporation,
with each as well as every brother retaining thirty % in the stock.
The brothers were the team. Percy, trained in economics in Columbia, handled the actual financing
as well as mortgaging arrangements, and Harold, with a civil engineering degree from Cornell, ran
the construction aspect in the firm.
Their significant tasks followed incorporation. They Will opened 2 Broadway in 1959, and also the
ITT Constructing (320 Park Avenue) and also the Western Publishing Creating (850 Third Avenue)
within 1961. The Particular next year the RCA Communications Creating (60 Broad Street) and
furthermore the Sperry-Rand Constructing (1290 Voie in the Americas) were completed. The
Manufacturer New York Hilton (1335 avenue of the Americas) registered its initial visitors within
1963, and J.C. Penney moved into its new corporate headquarters at 1301 Voie with the Americas
the entire year after. The Particular Uris brothers finished the American Tobacco Organization
Creating (245 Park Avenue) in 1967, and the Initial National city Bank Operations center (111 Wall
Street) throughout 1968. The Particular brothers' final main Ny tasks had been 1663 Broadway
(1970), an office tower cum legitimate theatre, as well as 55 H2o Street, (1971).
Besides this phenomenal activity, each brothers had been generous philanthropists, providing
involving his or her time and energy also as money. Percy served Columbia as the president's
assistant for 1st time construction, so in which as your donor of your hall for that Graduate College
regarding Business. Generally there is actually a Uris Hall from Cornell, too, where Harold funded a
lot campus construction and also renovation as well.
Percy died inside 1971 at the chronilogical age of 72, leaving Harold in charge of what had get to
become the nation's largest publicly owned investment constructing company. Harold chose to not
carry on without his lifelong partner as well as marketed the business to the National Kinney
Corporation throughout 1973. He died from 76 inside 1982.
The Zeckendorf Family
William Zeckendorf took Daniel Burnham's guidance in order to "make absolutely no small plans"
quite definitely in order to heart. His gift regarding recognizing "a great little bit of land" and also
conceiving of the "suitable edifice" for this transformed dozens involving underused new York acres
in to offices, hotels, housing projects, parks, and additionally the headquarters of the United
Nations.
Born throughout Illinois throughout 1905, Zeckendorf spent my youth inside the Bronx along with
attended Ny University. in 1925, throughout his last year of college, an uncle put him in control of
renting one of his office buildings. Zeckendorf filled the particular building using tenants as well as
promptly left your university for your property profession. He brokered regarding Leonard S. Gans
from 1926 to be able to 1939, earning a new partnership throughout 1930. Inside 1937 he
negotiated a sale to obtain a rival organization Webb & Knapp, and a year later on joined all of them
as vice-president. Webb & Knapp, had been then the relatively conservative company which
managed with regards to 60 million dollars worth of property. Zeckendorf vastly broadened Webb &
Knapp's horizons, attracting clients just like Vincent Astor, whose commissions contributed
handsomely to the business coffers.
As his monetary resources increased, Zeckendorf's plans with regard to grand real-estate tasks took
a new sharper definition. Throughout the actual early 1940's, he assembled parcel within Flushing,
exactly where he hoped to create shopping center, hospital and also hotel complex connected
through underground walkways, however, these structures had been never built. Within 1946
Zeckendorf had paid $6,000,000 for that Swift and Wilson slaughterhouse terrain in the East River
as well as 42nd Street, eight fetid acres whose odor was a nuisance to end up being able to
neighborhood Sutton Location along with Tudor City. He envisioned constructing a huge platformed
community involving offices, apartments, shops, opera and convention halls, any 6,000-room-hotel
along with yacht slips along with helicopter pads. However he may find absolutely no investors
regarding "X City," and the land lay fallow. However, Zeckendorf has been aware of the dickering
more than a site for your united Nations headquarters. Only as the UN was about to start taking a
glance at territory in Philadelphia, he offered this parcel. John D. Rockefeller II purchased
$8,500,000 and offered it towards the City. As a new result, new York became the planet
organization's home as well as Zeckendorf reaped praise along with profit. He always referred to
this transaction as his "capstone" achievement.
In 1949 Zeckendorf became the merely real owner associated with Webb & Knapp, and also three a
prolonged time later on he set up your Webb & Knapp Construction Corporation in order that the
organization could be also general contractors regarding its projects. the 1950's saw Zeckendorf
move in several directions. He built Roosevelt Field, one of the very first huge suburban
departmental stores inside the metropolitan area, around the former airfield in Lengthy Island. He
developed a workplace park within Westchester. He began trading throughout major hotels as well
as workplace buildings, holding, in one time as well as other, the actual Astor, St. Regis as well as
Drake Hotels, as well as the Graybar and also Chrysler Buildings. He additionally attracted financing
pertaining to a big textile center creating at 1407 Broadway.
In the particular mid-1950's, Zeckendorf began the primary cause of urban redevelopment too,
becoming one of the nation's leading developers of urban housing. He replaced slum tenements
together with huge new apartment projects: Lincoln Towers, with its over 4,000 units adjoining
Lincoln Center, set the stage for the renewal in the upper west aspect regarding Manhattan; Park
West Village on its 23 acre site provided housing for nearly 2500 families; and Kips Bay Plaza,
designed through I.M. Pei & Associates, had been certainly one of the handsomest urban renewal
projects.
In supplement to end up being able to his record associated with enormous accomplishment as being
a builder, Zeckendorf's uncanny ability to recognize spots together with guarantee led the way
pertaining to other developers as well. With Regard To example, his unrealized plan for you to erect
a sizable resort at the corner involving 51st Street along with Sixth avenue attracted various other
hotel developers to Manhattan. Also his short-lived American history amusement park inside the
Bronx, known as "Freedomland" (one associated with the first "theme parks") has been eventually
recycled to the site for that enormous Co-op city residential complex.
Zeckendorf's impact ended up being felt not merely within New York, but additionally within the
redevelopment regarding Montreal as well as Denver as well as the construction associated with
Century Area within Los Angeles.
Today, the particular Zeckendorf tradition is actually carried upon William Zeckendorf's grandsons,
brothers Arthur and also William Lie Zeckendorf. Since 1994, Arthur and William Zeckendorf have
been principals throughout approximately $200 million regarding property development and
acquisitions, such as 2,000 condominium apartments. These People are owners and Co-Chairmen of
Terra Holdings, LLC, which in turn owns along with operates a amount of real estate service firms
including Halstead Property Company.
In 1995, the particular Zeckendorf brothers developed the particular Millennium Tower, a new 75-
unit condominium in the top the particular Lincoln Square condominium, throughout partnership
with Sumitomo Real-estate sales and Goldman Sachs & Co. That They possess furthermore been
active since 1994 within numerous advertising revenue efforts which includes the actual revenue
involving third events regarding CitySpire, the actual Ansonia as well as the Mondrian
condominiums.
The Elghanayan Family
Rockrose Development Corp., an owner-builde-
-manager having a reputation for architectural
excellence, sensitivity to neighborhoods and
cautious management regarding its projects, had
been founded a lot more than 30 years ago from
the 3 Elghanayan brothers, Henry, Thomas and
Frederick. Named after the block these people was
raised about throughout Queens, Rockrose Place,
the company began with the renovation involving
brownstones on West 16th Street inside
Manhattan. Via their particular difficult function and perseverance, Rockrose progressively
expanded in order to new apartment construction, huge scale rehabilitation, along with major office
development.
Rockrose has completed 39 projects as well as presently provides three projects beneath
construction totaling over ten million square feet involving area as well as 7,500 apartments. Many
regarding their projects are already achieved along with favorable public review and design awards
simply by landmarks as well as gov departments in the city, state and also federal levels. Amongst
these award-winning tasks are the 232-unit River Rose Apartments within Battery Park City's South
Cove; Tribeca Point, any 350-unit residential building inside Battery park City's North Cove; the
actual 470-unit Archive; the actual 337-unit Turtle Bay Towers; and Carnegie Hall Tower, any
535,000 square-foot Class The office constructing about 57th Street in Manhattan.
In large part, your Elghanayans' good results could be attributed to subsequent any easy business
philosophy: select projects carefully, strategy rigorously and also manage intensely. In Order To
ensure constant performance, Henry, Fred and also Tom oversee in-house departments with
Rockrose regarding each and every development, including acquisition, design, construction,
advertising as well as management. This hands-on operational type assures efficiency, controls
expenses along Condo For Rent Annapolis MD with maintains quality.
The Winter Family
"Such issues as luck, hunches along with speculative tips play a relatively small portion throughout
progress. That is actually mastery associated with one's subject as well as conservative dealing that
have brought achievement to people who have got it."
Benjamin Winter Sr., amongst the initial regarding New York's the majority of prominent self-made
real estate entrepreneurs spoke those phrases in a newspaper interview inside the 1930s. Today, the
actual company, a fourth generation, family-operated private owner-developer as well as manager of
commercial, residential, retail as well as industrial property that will still bears his name, the Winter
Organization, upholds those exact same principles. Still targeted on the contemplative research
regarding key markets along with long-term but opportunistic investing, Ben Winter and his
awesome brother Jim, Benjamin Winter Sr.'s grandsons, in inclusion to Ben's son, David, adhere
towards the prudent conservative strategy associated with their founder, which in turn is becoming
the particular hallmark of the company.
The story associated with the Winter Organization begins inside 1901, when with age 19, Benjamin
Winter Sr. emigrated coming from Poland to be able to New York. Benjamin Sr.'s father, which had
arrived within the United States Regarding America per year earlier, took his son in order to start to
determine the great mansions associated with Manhattan, such as your Astor and Vanderbilt homes,
the particular extremely day he arrived at America. Although your elder Mr. Winter instructed his
son in which America ended up being indeed the actual terrain associated with opportunity, he
never could have imagined his son would, only a decade later, arrive at personal both properties.
Through diligent study, Benjamin Winter Sr. rapidly learned how you can purchase and then sell
well-located properties inside rising neighborhoods. His investing prowess was venerable--in any
mere twenty years, he had became the foremost realtor of his generation using half any billion us
dollars in revenue in order to his credit. Throughout one 12- 12 months period, he executed
approximately 300 real estate transactions and also by absolutely no means once failed in order to
recognize the profit. His portfolio of prominent properties came to range through the Resort
Delmonico, your Stanhope, your hotel Lenori, the Spanish Flats along with numerous residential
properties along Park along with Fifth Avenues.
In the particular 1950s, Marvin Winter, Benjamin Winter Sr.'s son, helped develop as well as solidify
the actual investment philosophy which has now characterized the Winter Organization for nearly
any century. after returning via military service along with consolidating his late-father's holdings,
Marvin Winter continued in order to focus about the Ny property market. Although Benjamin Winter
Sr. has been one of the most extremely regarded pioneers inside the opportunistic trading involving
real estate, Marvin Winter created a belief in establishing and also holding well-located properties
for your long-term. some of the property assets inside the Winter portfolio nowadays happen for you
to be held for upwards of 50 years.
Now in its fourth generation, The Wintertime Organization, already well-entrenched inside the fiber
with the Ny Town property companies are poised in order to become a far more prominent national
investor inside the many years ahead. yet the particular old-fashioned principles involving difficult
work, dedication to end up being able to purpose and conservatism inside investment will always be
its guiding force.
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