Many of the people featured in Commercial Observer’s seventh annual Power 100 issue are power perennials. But despite the long list of mainstays, the ranking says as much about what’s changed as what’s stayed the same in the real estate capital of the world. SEE ALSO: Sunday Summary: The Broker Gathering Is Back And that’s nothing new. After all, the inaugural Power 100 list came out a few months before the global economy cratered, leading former editor Tom Acitelli to write in May 2009, in his introduction to the sophomore Power 100 issue, that New York had “devolved from a city of infinite victory and possibility to one of survival and recrimination.” What a difference five years makes. The city is awash in tectonic development projects, many of them belatedly breaking ground after languishing for years during the economy’s sputtering rebound. The sprouting of hyper-luxe high-rises along 57th Street—to this point most closely associated with Extell President Gary Barnett, last year’s Power 100 victor—has so far had the most tangible effect as it alters the Midtown skyline and crystallizes New York’s status as a safe harbor for the global elite—or at least their money. Some argue that a neighborhood chockfull of $90 million pied-à-terre is no neighborhood at all. They may hold out hope for Related Companies’ Hudson Yards, the most hyped commercial development in recent city history, as it attempts to create a new neighborhood in an area that even the most sentimental “I miss the old New York” New Yorkers are unlikely to grieve. While those two—and many other—sprawling projects reshape Manhattan, activity outside “the city” will likely hasten the demise of the “outer” boroughs pejorative. It’s old news that Brooklyn now competes with Manhattan for cool cred and family appeal. But Kings County is now wooing commercial development royalty and investors in addition to the residential brokerages. Just witness the dense thicket of towers that’s grown seemingly overnight in Downtown Brooklyn. Or the skyline that continues to form along the eastern banks of the East River and, in the wake of recent bureaucratic approvals, could soon stretch more or less uninterrupted from the 59th Street to Williamsburg Bridges. Even the least glamorous boroughs are feeling the rush (and potential bluster), with what’s been billed as the world’s tallest Ferris wheel headed to Staten Island and the planet’s largest ice center coming to the Bronx. A good chunk of this bonanza was spurred by, and will form the legacy of, the departed Bloomberg administration. Despite that, Michael Bloomberg did not make the Power 100 for the first time since its inception. His successor Bill de Blasio’s inclusion was inevitable, even if it upsets some industry leaders still choked up over Mr. Bloomberg’s departure. Of course, it’s too early to tell what impact the new mayor will have on New York real estate. But his indefatigable emphasis on creating and maintaining affordable housing has already reshaped tentpole projects like Two Trees Management Company’s redevelopment of the old Domino Sugar refinery in Williamsburg. Two Trees made relatively minor concessions to its plan and won City Council approval just before this issue went to press. But shadows—including those cast by One57 over Central Park—loom over New York real estate. The Midtown East rezoning proposal hit a major roadblock in the waning days of the Bloomberg era. And the “tale of two cities” mantra that helped propel Mayor de Blasio to victory has emboldened the anti-development crowd as never before. The city doesn’t quite brim with the sense of “infinite victory and possibility” that it did before the recession. And there’s plenty of recrimination to go around. But revitalized neighborhoods are drawing New Yorkers to previously ignored corners of town and new buildings are piercing the sky en masse. The city once again claims America’s tallest skyscraper, which speaks to not only New York’s survival, but its stubborn insistence on supremacy—a trait it shares with the Power 100.

1. Stephen Ross, Jeff Blau, and Bruce Beal (No. 2 last year) Chairman, CEO and President, Related Companies



The top spot on our Power 100 list this year belongs to Related Companies due to the rousing momentum of the massive Hudson Yards development taking shape on the Far West Side, as well as the personal intrigue of a man who is the principal owner of the Miami Dolphins. The first commercial tower at Hudson Yards is slated to rise next year following commitments from Coach, L’Oréal and SAP that gave the project an even more prominent spot on the map. And that was before this year’s banner headline news that Time Warner would relocate to an 80-story Hudson Yards skyscraper in 2018 after selling its Columbus Circle headquarters for $1.3 billion to a partnership of Related and two sovereign wealth funds. More than a development in the traditional sense, the 26-acre Hudson Yards site promises an entirely new 24/7 neighborhood, with more than 6 million square feet of commercial space, 750,000 square feet of retail, some 5,000 residences, a new school and a luxury hotel. Neiman Marcus is reportedly in talks to become the premier retailer at the 37-million-square-foot, $20 billion project, and the first residential building is set to open in 2017. Meanwhile, Mr. Ross’ selfless philanthropy continues. Worth an estimated $5.4 billion, he pledged last year to give half his wealth away to charity. The top spot on our Power 100 list this year belongs to Related Companies due to the rousing momentum of the massive Hudson Yards development taking shape on the Far West Side, as well as the personal intrigue of a man who is the principal owner of the Miami Dolphins. The first commercial tower at Hudson Yards is slated to rise next year following commitments from Coach, L’Oréal and SAP that gave the project an even more prominent spot on the map. And that was before this year’s banner headline news that Time Warner would relocate to an 80-story Hudson Yards skyscraper in 2018 after selling its Columbus Circle headquarters for $1.3 billion to a partnership of Related and two sovereign wealth funds. More than a development in the traditional sense, the 26-acre Hudson Yards site promises an entirely new 24/7 neighborhood, with more than 6 million square feet of commercial space, 750,000 square feet of retail, some 5,000 residences, a new school and a luxury hotel. Neiman Marcus is reportedly in talks to become the premier retailer at the 37-million-square-foot, $20 billion project, and the first residential building is set to open in 2017. Meanwhile, Mr. Ross’ selfless philanthropy continues. Worth an estimated $5.4 billion, he pledged last year to give half his wealth away to charity.

2. Marc Holliday and Andrew Mathias (3) CEO and President, SL Green Realty Corp.



Shares in SL Green, New York’s largest commercial landlord, are up over 15 percent year-over-year. The performance may be due to some of the marquee deals done by the real estate investment trust in the past 12 months. In August 2013, SL Green agreed to acquire The Olivia, a mixed-use residential and commercial property on the West Side, from Stonehenge Partners for $386 million. Then, just three months later, the REIT teamed with Jeff Sutton to acquire a 49-year leasehold interest in the retail portion of 650 Madison Avenue. This year, the firm has picked up right where it left off. Last month, SL Green agreed to acquire Ivanhoe Cambridge’s stake in the Citigroup headquarters at 388-390 Greenwich Street for $783 million. Once that deal closes, SL Green will assume full ownership of the Tribeca office building, which is triple-net leased to Citigroup through 2035. The REIT is expected to continue to be a vocal proponent of Midtown East rezoning, a proposal that stalled in the waning months of Michael Bloomberg’s mayoral reign but is expected to be revived. SL Green has a significant stake in the matter—it has ambitious plans to develop 1 Vanderbilt, a 65-story office tower. Shares in SL Green, New York’s largest commercial landlord, are up over 15 percent year-over-year. The performance may be due to some of the marquee deals done by the real estate investment trust in the past 12 months. In August 2013, SL Green agreed to acquire The Olivia, a mixed-use residential and commercial property on the West Side, from Stonehenge Partners for $386 million. Then, just three months later, the REIT teamed with Jeff Sutton to acquire a 49-year leasehold interest in the retail portion of 650 Madison Avenue. This year, the firm has picked up right where it left off. Last month, SL Green agreed to acquire Ivanhoe Cambridge’s stake in the Citigroup headquarters at 388-390 Greenwich Street for $783 million. Once that deal closes, SL Green will assume full ownership of the Tribeca office building, which is triple-net leased to Citigroup through 2035. The REIT is expected to continue to be a vocal proponent of Midtown East rezoning, a proposal that stalled in the waning months of Michael Bloomberg’s mayoral reign but is expected to be revived. SL Green has a significant stake in the matter—it has ambitious plans to develop 1 Vanderbilt, a 65-story office tower.

3. Steven Roth (7) Chairman-CEO, Vornado Realty Trust



Some uncertainty surrounded Vornado Realty Trust after Mike Fascitelli surprisingly stepped down last year. But Mr. Roth stepped back into the CEO position, which he previously held for 20 years, without missing a beat. Despite losing his right-hand man, Mr. Roth continues to make unwavering decisions that will chart the course of his company’s future. Vornado recently announced a plan to spin off its non-Manhattan portfolio of 81 strip shopping centers and four malls, located mostly in the Northeast, into a new, publicly traded real estate investment trust. The move will likely influence a movement among retail REITs to simplify business plans and raise capital to reduce leverage. Mr. Roth will serve on the board of directors of the spin-off company. Though criticized in the past for investments seen as too diverse, Vornado remains one of the largest real estate businesses in the nation. It is one of the biggest owners and managers of commercial real estate in the United States, with a portfolio of over 100 million square feet primarily located in the New York and Washington, D.C. areas. Vornado’s core businesses include New York, Washington, D.C. and retail properties primarily in the northeast states, California and Puerto Rico. Some uncertainty surrounded Vornado Realty Trust after Mike Fascitelli surprisingly stepped down last year. But Mr. Roth stepped back into the CEO position, which he previously held for 20 years, without missing a beat. Despite losing his right-hand man, Mr. Roth continues to make unwavering decisions that will chart the course of his company’s future. Vornado recently announced a plan to spin off its non-Manhattan portfolio of 81 strip shopping centers and four malls, located mostly in the Northeast, into a new, publicly traded real estate investment trust. The move will likely influence a movement among retail REITs to simplify business plans and raise capital to reduce leverage. Mr. Roth will serve on the board of directors of the spin-off company. Though criticized in the past for investments seen as too diverse, Vornado remains one of the largest real estate businesses in the nation. It is one of the biggest owners and managers of commercial real estate in the United States, with a portfolio of over 100 million square feet primarily located in the New York and Washington, D.C. areas. Vornado’s core businesses include New York, Washington, D.C. and retail properties primarily in the northeast states, California and Puerto Rico.

4. Gary Barnett (1) President, Extell Development



“New construction is the lifeblood of major cities, providing dynamic renewal and serving as a major economic engine and revenue generator for city and state coffers,” Mr. Barnett recently wrote in a New York Observer guest column. And he sure is a developer focused on the new, including his controversial One57 and the Nordstrom tower at 217-225 West 57th Street. In addition, Extell has bid $39 million for a site at 160 East 125th Street in East Harlem. In February, Mr. Barnett was one of a few developers to receive a beating from a panel of New Yorkers worried about the shadows that rising skyscrapers—like One57—will cast over Central Park. But beyond a shadow of a doubt, Mr. Barnett is still erecting the 90-story One57 at 157 West 57th Street and turning that thoroughfare into a billionaire stomping ground. At 217 West 57th Street, the former diamond trader scored a major victory in February when the Art Students League approved Extell’s divisive plan to cantilever a 1,424-foot skyscraper above the school’s landmarked French Renaissance building. A month prior, Extell closed on a $90 million ownership stake in a Ring brothers building at 212 Fifth Avenue. And this month, Kaufman Organization and Principal Real Estate Investors acquired four former Ring buildings for between $175 million and $200 million. “New construction is the lifeblood of major cities, providing dynamic renewal and serving as a major economic engine and revenue generator for city and state coffers,” Mr. Barnett recently wrote in a New York Observer guest column. And he sure is a developer focused on the new, including his controversial One57 and the Nordstrom tower at 217-225 West 57th Street. In addition, Extell has bid $39 million for a site at 160 East 125th Street in East Harlem. In February, Mr. Barnett was one of a few developers to receive a beating from a panel of New Yorkers worried about the shadows that rising skyscrapers—like One57—will cast over Central Park. But beyond a shadow of a doubt, Mr. Barnett is still erecting the 90-story One57 at 157 West 57th Street and turning that thoroughfare into a billionaire stomping ground. At 217 West 57th Street, the former diamond trader scored a major victory in February when the Art Students League approved Extell’s divisive plan to cantilever a 1,424-foot skyscraper above the school’s landmarked French Renaissance building. A month prior, Extell closed on a $90 million ownership stake in a Ring brothers building at 212 Fifth Avenue. And this month, Kaufman Organization and Principal Real Estate Investors acquired four former Ring buildings for between $175 million and $200 million.

5. Jerry and Rob Speyer (9) Co-CEO-Chairman and Co-CEO-President, Tishman Speyer



Tishman Speyer has long been considered New York City’s largest family-run landlord, but since Rob Speyer joined the family business in 1995 he has helped his father turn the family firm into one of the world’s largest owners of real estate, delving aggressively into North America, China, Europe, India and Brazil. The company announced earlier this year that it was investing in a nearly 10-million-square-foot mixed-use project in Shanghai known as The Springs, and the firm has already cut a deal with Nike as its anchor office tenant. Stateside, the firm has reportedly purchased a 1.2-million-square-foot site at 435 10th Avenue, at Hudson Yards, that could spawn a 1,800-foot-tall super-skyscraper (marketed by Massey Knakal as Hudson Spire). The firm may also be considering an adjacent parcel belonging to Sherwood Equities, which could help the firm create one of the city’s largest and tallest buildings. The youngest chairman of the Real Estate Board of New York, the younger Speyer became the third successive generation of his family to hold the post—a first in the organization’s 117-year history. The firm’s signature assets include New York’s Rockefeller Center, Chrysler Center and Yankee Stadium, São Paulo’s Torre Norte and Ventura Corporate Towers in Rio de Janeiro. Tishman Speyer has long been considered New York City’s largest family-run landlord, but since Rob Speyer joined the family business in 1995 he has helped his father turn the family firm into one of the world’s largest owners of real estate, delving aggressively into North America, China, Europe, India and Brazil. The company announced earlier this year that it was investing in a nearly 10-million-square-foot mixed-use project in Shanghai known as The Springs, and the firm has already cut a deal with Nike as its anchor office tenant. Stateside, the firm has reportedly purchased a 1.2-million-square-foot site at 435 10th Avenue, at Hudson Yards, that could spawn a 1,800-foot-tall super-skyscraper (marketed by Massey Knakal as Hudson Spire). The firm may also be considering an adjacent parcel belonging to Sherwood Equities, which could help the firm create one of the city’s largest and tallest buildings. The youngest chairman of the Real Estate Board of New York, the younger Speyer became the third successive generation of his family to hold the post—a first in the organization’s 117-year history. The firm’s signature assets include New York’s Rockefeller Center, Chrysler Center and Yankee Stadium, São Paulo’s Torre Norte and Ventura Corporate Towers in Rio de Janeiro.

6. Anthony Malkin (8) Chairman-CEO-President, Empire State Realty Trust



A number of lawsuits, investor squabbles and multiple bids to purchase the Empire State Building didn’t stop Mr. Malkin, his father, Peter Malkin and the Empire State Realty Trust from going public. Last September, the company’s shares began trading during an initial public offering that valued 71.5 million shares of Class A common stock at $13 on the New York Stock Exchange under the symbol “ESRT.” The public offering allowed the Malkins to consolidate the buildings they control throughout Manhattan and in Stamford, Conn. As the company’s chairman, chief executive officer and president, Mr. Malkin now oversees all acquisitions, capital markets activities, leasing and corporate strategy. Among notable recent news, LinkedIn signed a 160,000-square-foot lease at the Empire State Building. The Malkins’ portfolio includes 11 million square feet of trophy office property in the greater New York City area, including a portfolio of nine prewar trophy buildings in Midtown Manhattan, as well as 1.9 million square feet of retail space, 1.4 million square feet of warehouse/distribution space and 2,700 multifamily units. A number of lawsuits, investor squabbles and multiple bids to purchase the Empire State Building didn’t stop Mr. Malkin, his father, Peter Malkin and the Empire State Realty Trust from going public. Last September, the company’s shares began trading during an initial public offering that valued 71.5 million shares of Class A common stock at $13 on the New York Stock Exchange under the symbol “ESRT.” The public offering allowed the Malkins to consolidate the buildings they control throughout Manhattan and in Stamford, Conn. As the company’s chairman, chief executive officer and president, Mr. Malkin now oversees all acquisitions, capital markets activities, leasing and corporate strategy. Among notable recent news, LinkedIn signed a 160,000-square-foot lease at the Empire State Building. The Malkins’ portfolio includes 11 million square feet of trophy office property in the greater New York City area, including a portfolio of nine prewar trophy buildings in Midtown Manhattan, as well as 1.9 million square feet of retail space, 1.4 million square feet of warehouse/distribution space and 2,700 multifamily units.

7. Jonathan Gray (6) Global Head of Real Estate, Blackstone Group



Mr. Gray reportedly said in February that Blackstone is planning to plunk down $80 million in international real estate over the next year. The private equity firm ended 2013 with a bang due in large part to its real estate portfolio headed up by Mr. Gray. Blackstone had a fourth-quarter profit of $621.3 million compared with $106.4 million in the fourth quarter of 2012. Mr. Gray’s division is credited with bringing in about 60 percent of the firm’s profits, according to The Real Deal. The real estate group reported that its fund value rose 13.1 percent in a January report. The relatively new billionaire told Commercial Observer: “As we get bigger, one of my priorities is to make sure that we maintain the same standards and continue to have open communication and integration. Whether you’re in our New York office or Mumbai office, it’s a must that we focus on our people and our standards and that we continue to do things the same way across the business.” Mr. Gray is someone to be reckoned with as speculation has continued to swirl that he will take over as chief executive or chief operating officer at the company at some point in the future. Mr. Gray reportedly said in February that Blackstone is planning to plunk down $80 million in international real estate over the next year. The private equity firm ended 2013 with a bang due in large part to its real estate portfolio headed up by Mr. Gray. Blackstone had a fourth-quarter profit of $621.3 million compared with $106.4 million in the fourth quarter of 2012. Mr. Gray’s division is credited with bringing in about 60 percent of the firm’s profits, according to The Real Deal. The real estate group reported that its fund value rose 13.1 percent in a January report. The relatively new billionaire told Commercial Observer: “As we get bigger, one of my priorities is to make sure that we maintain the same standards and continue to have open communication and integration. Whether you’re in our New York office or Mumbai office, it’s a must that we focus on our people and our standards and that we continue to do things the same way across the business.” Mr. Gray is someone to be reckoned with as speculation has continued to swirl that he will take over as chief executive or chief operating officer at the company at some point in the future.

8. Scott Rechler (5) Chairman-CEO, RXR Realty



Last summer, Mr. Rechler made the savvy move of appointing Seth Pinsky, the former president of the New York City Economic Development Corporation, as investment manager of RXR’s newly established Metropolitan Emerging Market Strategy. The former civil servant is expected to assist RXR in the pursuit of development projects in under-invested areas and near transit nodes throughout the region. The company is examining opportunities along the Brooklyn waterfront and in Queens as well as the Bronx and Staten Island, two boroughs that the firm realizes have lagged behind the city’s others in attracting institutional capital. On the leasing front, RXR secured Mediaocean to a 14-year, 88,387-square-foot lease at 620 Avenue of the Americas in a prime example of the company’s cultivation of media and tech tenants. But Mr. Rechler’s role as vice chairman of the board of commissioners of the Port Authority of New York and New Jersey is arguably where he has exerted the most influence over the past 12 months. Mr. Rechler has strongly advocated for new subsidies for Silverstein Properties’ 3 World Trade Center. Under the revised proposal, the Port Authority would guarantee Silverstein a $1.2 billion construction loan. The board delayed its vote on the proposal shortly before Commercial Observer went to press. Last summer, Mr. Rechler made the savvy move of appointing Seth Pinsky, the former president of the New York City Economic Development Corporation, as investment manager of RXR’s newly established Metropolitan Emerging Market Strategy. The former civil servant is expected to assist RXR in the pursuit of development projects in under-invested areas and near transit nodes throughout the region. The company is examining opportunities along the Brooklyn waterfront and in Queens as well as the Bronx and Staten Island, two boroughs that the firm realizes have lagged behind the city’s others in attracting institutional capital. On the leasing front, RXR secured Mediaocean to a 14-year, 88,387-square-foot lease at 620 Avenue of the Americas in a prime example of the company’s cultivation of media and tech tenants. But Mr. Rechler’s role as vice chairman of the board of commissioners of the Port Authority of New York and New Jersey is arguably where he has exerted the most influence over the past 12 months. Mr. Rechler has strongly advocated for new subsidies for Silverstein Properties’ 3 World Trade Center. Under the revised proposal, the Port Authority would guarantee Silverstein a $1.2 billion construction loan. The board delayed its vote on the proposal shortly before Commercial Observer went to press.

9. Douglas and Jody Durst (4) Chairman and President, The Durst Organization



It’s been an eventful 12 months for The Durst Organization, particularly at the developer’s 1 World Trade Center site. Last May, the final component of the lower Manhattan skyscraper’s spire was installed, touching the symbolic height of 1,776 feet. Durst later unveiled 1 WTC’s marketing center to the media, just two weeks before the building was officially declared the tallest skyscraper in America, besting Chicago’s Willis Tower (formerly the Sears Tower). In more troubling news, a 16-year-old New Jersey boy snuck his way past security to the top of 1 WTC earlier this year, prompting both that boy’s arrest and the resignation of The Durst Organization’s top security official. Condé Nast will begin moving into 1 WTC in November, but talk of new leases there has gone quiet. The building’s leasing team, spearheaded in-house and by Cushman & Wakefield, remains optimistic, with Tara Stacom declaring herself pleased with the leasing momentum earlier this year. On a brighter note, there looks to be a new beginning at one of the developer’s other properties: 4 Times Square. Major space at that property, which has been inextricably linked to Condé Nast for nearly two decades, is being made available for lease as the publisher prepares to vacate. It’s been an eventful 12 months for The Durst Organization, particularly at the developer’s 1 World Trade Center site. Last May, the final component of the lower Manhattan skyscraper’s spire was installed, touching the symbolic height of 1,776 feet. Durst later unveiled 1 WTC’s marketing center to the media, just two weeks before the building was officially declared the tallest skyscraper in America, besting Chicago’s Willis Tower (formerly the Sears Tower). In more troubling news, a 16-year-old New Jersey boy snuck his way past security to the top of 1 WTC earlier this year, prompting both that boy’s arrest and the resignation of The Durst Organization’s top security official. Condé Nast will begin moving into 1 WTC in November, but talk of new leases there has gone quiet. The building’s leasing team, spearheaded in-house and by Cushman & Wakefield, remains optimistic, with Tara Stacom declaring herself pleased with the leasing momentum earlier this year. On a brighter note, there looks to be a new beginning at one of the developer’s other properties: 4 Times Square. Major space at that property, which has been inextricably linked to Condé Nast for nearly two decades, is being made available for lease as the publisher prepares to vacate.

10. Barry Sternlicht (12) Chairman-CEO, Starwood Capital Group



As one of the world’s largest property investors, the Greenwich, Conn.-based private real estate investment firm Starwood Capital Group is looking to go public. To that end, Mr. Sternlicht appeared to be preparing to sell off shares of the company in an initial public offering as he started talking with banks, according to media reports in February. And the W hotel chain founder may be looking for a way to partially cash out, the Wall Street Journal noted. The company, which Mr. Sternlicht founded in 1991, has been setting record room occupancy rates due to a shortage of luxury hotels in the country, giving the company leverage in setting room rates. The firm owns many hotels, apartment complexes, office buildings and shopping malls and has hired more employees to help with acquisitions. Starwood has raised about $23 billion in equity since its inception and bought more than $45 billion in assets, according to a January statement. In March, Starwood and GFI Development Company closed on the $195 million sale of a ground lease for a Brooklyn office tower. The same month, Starwood also acquired, through a controlled affiliate, the retail building at 150 West 34th Street. The price was reportedly $250 million. As one of the world’s largest property investors, the Greenwich, Conn.-based private real estate investment firm Starwood Capital Group is looking to go public. To that end, Mr. Sternlicht appeared to be preparing to sell off shares of the company in an initial public offering as he started talking with banks, according to media reports in February. And the W hotel chain founder may be looking for a way to partially cash out, the Wall Street Journal noted. The company, which Mr. Sternlicht founded in 1991, has been setting record room occupancy rates due to a shortage of luxury hotels in the country, giving the company leverage in setting room rates. The firm owns many hotels, apartment complexes, office buildings and shopping malls and has hired more employees to help with acquisitions. Starwood has raised about $23 billion in equity since its inception and bought more than $45 billion in assets, according to a January statement. In March, Starwood and GFI Development Company closed on the $195 million sale of a ground lease for a Brooklyn office tower. The same month, Starwood also acquired, through a controlled affiliate, the retail building at 150 West 34th Street. The price was reportedly $250 million.

11. Bill Bratton (New) Police Commissioner, New York City



It’s the police commissioner’s top priority to ensure that the streets are safe—and safer streets translate into more valuable real estate. It will be no small order for Commissioner Bratton to keep crime at historically low levels, but he’s already proven that he’s not afraid to get his hands dirty in his second tour as the city’s top cop. Commissioner Bratton reportedly went on a ride earlier this month during which he and Deputy Commissioner of Intelligence John Miller accompanied housing cops and members of a warrants squad in storming numerous tactical hot spots in the area, nabbing more than 25 gang members from the rival Young Bosses and the Forest Over Everything gangs. Mayor Bill De Blasio has referred to the law enforcement veteran as a “visionary” capable of fulfilling a central campaign promise of his: repairing the Police Department’s rapport with residents and leaders in minority communities while keeping crime low. Meanwhile, Commissioner Bratton has earned high marks from real estate bigwigs often wary of the new City Hall—Bruce Mosler described the commish as “exceptionally tuned in” to the business world’s needs while Bob Knakal called him “a stud [who] makes the industry feel as if the expected wave of crime may not happen.” It’s the police commissioner’s top priority to ensure that the streets are safe—and safer streets translate into more valuable real estate. It will be no small order for Commissioner Bratton to keep crime at historically low levels, but he’s already proven that he’s not afraid to get his hands dirty in his second tour as the city’s top cop. Commissioner Bratton reportedly went on a ride earlier this month during which he and Deputy Commissioner of Intelligence John Miller accompanied housing cops and members of a warrants squad in storming numerous tactical hot spots in the area, nabbing more than 25 gang members from the rival Young Bosses and the Forest Over Everything gangs. Mayor Bill De Blasio has referred to the law enforcement veteran as a “visionary” capable of fulfilling a central campaign promise of his: repairing the Police Department’s rapport with residents and leaders in minority communities while keeping crime low. Meanwhile, Commissioner Bratton has earned high marks from real estate bigwigs often wary of the new City Hall—Bruce Mosler described the commish as “exceptionally tuned in” to the business world’s needs while Bob Knakal called him “a stud [who] makes the industry feel as if the expected wave of crime may not happen.”

12. Dennis Friedrich (New) and Mitch Rudin (13) CEO and President, Brookfield Office Properties



With the revitalized Brookfield Place (née World Financial Center) set to reopen later this year, there is quite a bit on the Brookfield executives’ plates. But with Time Inc. said to be eyeing relocation to the Downtown Manhattan office complex and the developer’s fast-casual dining collection, Hudson Eats, continuing to draw tenants and buzz, there’s still work to be done. Blue Ribbon Sushi joined the food hall’s imposing roster this year and will open later this spring alongside Umami Burger, Dos Toros Taqueria, Chop’t, Dig Inn, Num Pang, Skinny Pizza, Sprinkles Cupcakes, Little Muenster, Mighty Quinn’s, Tartinery and Olive’s. Just last week, Brookfield added three new names to its retail tenant roster at Brookfield Place, including J. Crew. The retailer will join Hermès, Ferragamo, Michael Kors, and more when the retail corridor opens next year. Brookfield Place isn’t the only spot in the city the developer has been active in over the past year. In 2013, the real estate investment trust agreed to acquire the NYMEX Building at 1 North End Avenue and unveiled a $200 million redevelopment plan for 450 West 33rd Street on the Far West Side. With the revitalized Brookfield Place (née World Financial Center) set to reopen later this year, there is quite a bit on the Brookfield executives’ plates. But with Time Inc. said to be eyeing relocation to the Downtown Manhattan office complex and the developer’s fast-casual dining collection, Hudson Eats, continuing to draw tenants and buzz, there’s still work to be done. Blue Ribbon Sushi joined the food hall’s imposing roster this year and will open later this spring alongside Umami Burger, Dos Toros Taqueria, Chop’t, Dig Inn, Num Pang, Skinny Pizza, Sprinkles Cupcakes, Little Muenster, Mighty Quinn’s, Tartinery and Olive’s. Just last week, Brookfield added three new names to its retail tenant roster at Brookfield Place, including J. Crew. The retailer will join Hermès, Ferragamo, Michael Kors, and more when the retail corridor opens next year. Brookfield Place isn’t the only spot in the city the developer has been active in over the past year. In 2013, the real estate investment trust agreed to acquire the NYMEX Building at 1 North End Avenue and unveiled a $200 million redevelopment plan for 450 West 33rd Street on the Far West Side.

13. Donald Trump (14) CEO, Trump Organization



No doubt the most publicly visible member of New York’s real estate community, Mr. Trump’s business pursuits are often secondary to his various entertainment ventures and political aspirations. Indeed, reports indicate that The Donald could be getting back into sports franchise ownership with the Buffalo Bills. Any deal with the N.F.L. would elevate Mr. Trump into the elite club whose membership also includes Stephen Ross of Related Companies. In the Bronx, Mr. Trump completed the course at Trump Golf Links in Ferry Point Park. The latest addition to Mr. Trump’s impressive stable of golf courses is slated to open next year. More publicity-friendly news aside, commercial real estate remains the central focus of the Trump Organization, which continues to draw tenants to its 40 Wall Street property. Early this year, Hadassah, the Women’s Zionist Organization of America, signed a 20-year lease for nearly 50,000 square feet at the Financial District property. Elsewhere on the Eastern Seaboard, Mr. Trump is expected to transform Washington, D.C.’s Old Post Office Pavilion into a luxury hotel after signing a 60-year lease to redevelop and manage the property. No doubt the most publicly visible member of New York’s real estate community, Mr. Trump’s business pursuits are often secondary to his various entertainment ventures and political aspirations. Indeed, reports indicate that The Donald could be getting back into sports franchise ownership with the Buffalo Bills. Any deal with the N.F.L. would elevate Mr. Trump into the elite club whose membership also includes Stephen Ross of Related Companies. In the Bronx, Mr. Trump completed the course at Trump Golf Links in Ferry Point Park. The latest addition to Mr. Trump’s impressive stable of golf courses is slated to open next year. More publicity-friendly news aside, commercial real estate remains the central focus of the Trump Organization, which continues to draw tenants to its 40 Wall Street property. Early this year, Hadassah, the Women’s Zionist Organization of America, signed a 20-year lease for nearly 50,000 square feet at the Financial District property. Elsewhere on the Eastern Seaboard, Mr. Trump is expected to transform Washington, D.C.’s Old Post Office Pavilion into a luxury hotel after signing a 60-year lease to redevelop and manage the property.

14. Andrew Cuomo (11) Governor, New York



Governor Cuomo has been busy touring the state while touting his nearly $140 billion 2014-15 budget. And laste last month he abruptly announced that he is disbanding the anti-corruption commission he formed just last July. In an election year, it doesn’t behoove Mr. Cuomo to raise ire, but Southern District U.S. Attorney Preet Bharara is challenging the governor, saying that his office will take over outstanding political corruption cases from the now-defunct Moreland Commission. Despite other disagreements with Mayor Bill de Blasio, Mr. Cuomo has sided with the new hizzoner when it comes to creating and preserving affordable housing in the city and state. At his State of the State address, Mr. Cuomo announced that he would invest $100 million from federal Superstorm Sandy recovery funds to create and preserve 3,000 affordable housing units in multifamily developments. That’s in addition to the $1 billion House NY program he initiated that invests $1 billion in affordable housing units over five years. “The additional $100 million investment in affordable housing will not only give 3,000 low-income families the support they need to stabilize their lives … but also help drive the economic development necessary to help revitalize local communities,” said Rafael E. Cestero, the president and chief executive of The Community Preservation Corp. Governor Cuomo has been busy touring the state while touting his nearly $140 billion 2014-15 budget. And laste last month he abruptly announced that he is disbanding the anti-corruption commission he formed just last July. In an election year, it doesn’t behoove Mr. Cuomo to raise ire, but Southern District U.S. Attorney Preet Bharara is challenging the governor, saying that his office will take over outstanding political corruption cases from the now-defunct Moreland Commission. Despite other disagreements with Mayor Bill de Blasio, Mr. Cuomo has sided with the new hizzoner when it comes to creating and preserving affordable housing in the city and state. At his State of the State address, Mr. Cuomo announced that he would invest $100 million from federal Superstorm Sandy recovery funds to create and preserve 3,000 affordable housing units in multifamily developments. That’s in addition to the $1 billion House NY program he initiated that invests $1 billion in affordable housing units over five years. “The additional $100 million investment in affordable housing will not only give 3,000 low-income families the support they need to stabilize their lives … but also help drive the economic development necessary to help revitalize local communities,” said Rafael E. Cestero, the president and chief executive of The Community Preservation Corp.

15. William Rudin (15) Vice Chairman-CEO, Rudin Management



The former home of Goldman Sachs’ headquarters at 55 Broad Street in lower Manhattan is likely to be redeveloped as a 53-story mixed-use property. That’s according to plans that Mr. Rudin had architecture firm FXFOWLE draw up for the site, which call for a 742-foot tower instead of the current 402-foot office building. The project would include office, retail and residential components. The third-generation Rudin family business claims 10 million square feet of commercial space. Projects include (controversially) co-developing the former site of St. Vincent’s Hospital into a five-building condominium development called Greenwich Lane and redesigning the lobby and public areas of the 22-story office building at 560 Lexington Avenue. The redesign, intended to spruce up and modernize the property, is slated for completion this fall. Mr. Rudin may be looking to build more. This month, the Rudin family received a $110 million loan against its office tower at 1 Battery Park Plaza. The Rudin and Rose families began assembling the site in 1962 and jointly built the 885,645-square-foot tower in 1970. Rudin Management bought out Rose Associates’ 50 percent stake in 1 Battery Park Plaza for about $80 million in January 2012, gaining full ownership. The former home of Goldman Sachs’ headquarters at 55 Broad Street in lower Manhattan is likely to be redeveloped as a 53-story mixed-use property. That’s according to plans that Mr. Rudin had architecture firm FXFOWLE draw up for the site, which call for a 742-foot tower instead of the current 402-foot office building. The project would include office, retail and residential components. The third-generation Rudin family business claims 10 million square feet of commercial space. Projects include (controversially) co-developing the former site of St. Vincent’s Hospital into a five-building condominium development called Greenwich Lane and redesigning the lobby and public areas of the 22-story office building at 560 Lexington Avenue. The redesign, intended to spruce up and modernize the property, is slated for completion this fall. Mr. Rudin may be looking to build more. This month, the Rudin family received a $110 million loan against its office tower at 1 Battery Park Plaza. The Rudin and Rose families began assembling the site in 1962 and jointly built the 885,645-square-foot tower in 1970. Rudin Management bought out Rose Associates’ 50 percent stake in 1 Battery Park Plaza for about $80 million in January 2012, gaining full ownership.

16. Andrew Farkas (17) Chairman-CEO, Island Capital Group



Mr. Farkas, who runs the versatile international real estate merchant bank Island Capital Group, has fared well since the bygone ’90s days when he bought up distressed properties. He was ranked number 13 in Mortgage Observer’s “50 Most Important People in Commercial Real Estate Finance” this February. He is also the chairman and chief executive of C-III Capital Partners, an Irving, Tex.-based affiliate of Island that nearly doubled its invested capital in 2013 to $3.6 billion. Island’s largest subsidiary, C-III Capital, controls C-III Asset Management, which is one of the largest commercial mortgage servicers in the country. C-III Capital ranked near the top of several commercial and multifamily servicing volume surveys from the Mortgage Bankers Association. U.S. Residential Group LLC, a full-service, fee-based multifamily management company affiliated with C-III Capital, was named one of the top apartment management companies in the country by The National Multi Housing Council. NAI Global, the world’s largest network of owner-operated commercial real estate firms, was ranked fifth in the 2014 Lipsey Survey of Top 25 Commercial Real Estate Brands. C-III Capital Partners acquired NAI Global in 2012. Through another subsidiary, Island oversees several real estate-related investment funds with more than $3.7 billion of assets under management. Mr. Farkas, who runs the versatile international real estate merchant bank Island Capital Group, has fared well since the bygone ’90s days when he bought up distressed properties. He was ranked number 13 in Mortgage Observer’s “50 Most Important People in Commercial Real Estate Finance” this February. He is also the chairman and chief executive of C-III Capital Partners, an Irving, Tex.-based affiliate of Island that nearly doubled its invested capital in 2013 to $3.6 billion. Island’s largest subsidiary, C-III Capital, controls C-III Asset Management, which is one of the largest commercial mortgage servicers in the country. C-III Capital ranked near the top of several commercial and multifamily servicing volume surveys from the Mortgage Bankers Association. U.S. Residential Group LLC, a full-service, fee-based multifamily management company affiliated with C-III Capital, was named one of the top apartment management companies in the country by The National Multi Housing Council. NAI Global, the world’s largest network of owner-operated commercial real estate firms, was ranked fifth in the 2014 Lipsey Survey of Top 25 Commercial Real Estate Brands. C-III Capital Partners acquired NAI Global in 2012. Through another subsidiary, Island oversees several real estate-related investment funds with more than $3.7 billion of assets under management.

17. Richard LeFrak (16) Chairman-President-CEO, LeFrak Organization



The LeFrak Organization is perhaps best known for the sprawling 5,000-unit LeFrak City apartment complex in Queens, but with Mr. LeFrak at the helm it continues to upgrade and expand its portfolio across the country. The firm recently completed a $30 million capital improvement program at 40 West 57th Street, where earlier this month it leased high-end, pre-built office suites to Two Creeks Capital Management, Incline Global and Darsana, a new hedge fund. The 34-story tower’s tenants include Northern Trust, JPMorgan/Highbridge, Elliott Management Corporation, Tocqueville Asset Management, VF Corporation and Givaudan Fragrances Corporation. The company is over a century old and owns more than 400 buildings, most of which were self-developed. In addition to extensive real estate holdings, the firm has actively invested in energy since the 1970s and currently has interests in hundreds of on-shore oil and gas wells. The LeFrak Organization is perhaps best known for the sprawling 5,000-unit LeFrak City apartment complex in Queens, but with Mr. LeFrak at the helm it continues to upgrade and expand its portfolio across the country. The firm recently completed a $30 million capital improvement program at 40 West 57th Street, where earlier this month it leased high-end, pre-built office suites to Two Creeks Capital Management, Incline Global and Darsana, a new hedge fund. The 34-story tower’s tenants include Northern Trust, JPMorgan/Highbridge, Elliott Management Corporation, Tocqueville Asset Management, VF Corporation and Givaudan Fragrances Corporation. The company is over a century old and owns more than 400 buildings, most of which were self-developed. In addition to extensive real estate holdings, the firm has actively invested in energy since the 1970s and currently has interests in hundreds of on-shore oil and gas wells.

18. Owen Thomas and Mortimer Zuckerman (25) CEO and Executive Chairman, Boston Properties



Though Mr. Zuckerman stepped aside and was replaced by Mr. Thomas as chief executive of Boston Properties last April, the septuagenarian real estate tycoon continues to be a major force, whether at industry conferences or during his frequent appearances on The McLaughlin Group. Though some analysts have expressed concern over the varying levels of executive leadership at the real estate investment trust, it doesn’t seem to have slowed Boston Properties down. In 2013, the company joined the growing list of landlords to have teamed up with Norges Bank Investment Management’s burgeoning real estate platform. The REIT joint ventured Times Square Tower in a deal that saw the Norwegian sovereign wealth fund acquire a 45 percent stake in the property for $684 million in cash. More recently, Boston Properties’ 250 West 55th Street development welcomed its first tenant, the law firm Morrison & Foerster, which moved in earlier this month. Though Mr. Zuckerman stepped aside and was replaced by Mr. Thomas as chief executive of Boston Properties last April, the septuagenarian real estate tycoon continues to be a major force, whether at industry conferences or during his frequent appearances on The McLaughlin Group. Though some analysts have expressed concern over the varying levels of executive leadership at the real estate investment trust, it doesn’t seem to have slowed Boston Properties down. In 2013, the company joined the growing list of landlords to have teamed up with Norges Bank Investment Management’s burgeoning real estate platform. The REIT joint ventured Times Square Tower in a deal that saw the Norwegian sovereign wealth fund acquire a 45 percent stake in the property for $684 million in cash. More recently, Boston Properties’ 250 West 55th Street development welcomed its first tenant, the law firm Morrison & Foerster, which moved in earlier this month.

19. Jeff Sutton (29) President, Wharton Properties



Mr. Sutton owns stakes in more than 120 properties citywide, including 717 Fifth Avenue and 650 Fifth Avenue (in which he, along with SL Green Realty Corporation, acquired a 49-year leasehold in the retail portion last November), and has signed names like Giorgio Armani and Abercrombie & Fitch into flagship stores. He reportedly told a group of Baruch College students recently that his real estate career took off following a chance encounter with a man who had ties to Payless ShoeSource at a time when the shoe store didn’t exist in New York. “My career has been like dominos. Each thing led to the next. Payless became the king of New York, putting all its competitors out of business,” he said. Mr. Sutton’s retail investments have been reported to total more than $2 billion. In a joint venture with long-term trading partner SL Green, Mr. Sutton’s Wharton Properties just last month closed on the $326 million acquisition of 530 Broadway (at the corner of Spring Street) in Soho. Apparel giants to lease space at Mr. Sutton’s properties have recently included Alexander McQueen, which signed at 747 Madison Avenue, a retail co-op where Mr. Sutton last year bought SL Green’s 33.3 percent stake. Mr. Sutton owns stakes in more than 120 properties citywide, including 717 Fifth Avenue and 650 Fifth Avenue (in which he, along with SL Green Realty Corporation, acquired a 49-year leasehold in the retail portion last November), and has signed names like Giorgio Armani and Abercrombie & Fitch into flagship stores. He reportedly told a group of Baruch College students recently that his real estate career took off following a chance encounter with a man who had ties to Payless ShoeSource at a time when the shoe store didn’t exist in New York. “My career has been like dominos. Each thing led to the next. Payless became the king of New York, putting all its competitors out of business,” he said. Mr. Sutton’s retail investments have been reported to total more than $2 billion. In a joint venture with long-term trading partner SL Green, Mr. Sutton’s Wharton Properties just last month closed on the $326 million acquisition of 530 Broadway (at the corner of Spring Street) in Soho. Apparel giants to lease space at Mr. Sutton’s properties have recently included Alexander McQueen, which signed at 747 Madison Avenue, a retail co-op where Mr. Sutton last year bought SL Green’s 33.3 percent stake.

20. Mary Ann Tighe (19) Regional CEO, CBRE



Ms. Tighe, who last year signed off from her post as REBNY’s first-ever female chair, continues to exert immense influence on the New York real estate community. From her representation of Condé Nast in its move to 1 World Trade Center to her brokering of the deal that brought Coach in as the anchor tenant at Hudson Yards, Ms. Tighe is without question one of the most influential brokers in New York City, and the past 12 months have done nothing to change that perception. She was a key member of the tenant representation team that brought Sony to 11 Madison Avenue in a blockbuster 525,000-square-foot lease. More importantly, Ms. Tighe brokered the anchor-tenant lease for GroupM at Silverstein Properties’ 3 World Trade Center—a deal that will presumably allow the developer to move forward with construction. Elsewhere, Ms. Tighe and a team of CBRE brokers are working to lure tenants to RFR Realty’s revitalized 285 Madison Avenue, the former Y&R headquarters that suffered a catastrophic elevator failure in 2011. Ms. Tighe, who last year signed off from her post as REBNY’s first-ever female chair, continues to exert immense influence on the New York real estate community. From her representation of Condé Nast in its move to 1 World Trade Center to her brokering of the deal that brought Coach in as the anchor tenant at Hudson Yards, Ms. Tighe is without question one of the most influential brokers in New York City, and the past 12 months have done nothing to change that perception. She was a key member of the tenant representation team that brought Sony to 11 Madison Avenue in a blockbuster 525,000-square-foot lease. More importantly, Ms. Tighe brokered the anchor-tenant lease for GroupM at Silverstein Properties’ 3 World Trade Center—a deal that will presumably allow the developer to move forward with construction. Elsewhere, Ms. Tighe and a team of CBRE brokers are working to lure tenants to RFR Realty’s revitalized 285 Madison Avenue, the former Y&R headquarters that suffered a catastrophic elevator failure in 2011.

21. Keith Gelb and Tom Gilbane (23) Managing Members, Rockpoint Group



Rockpoint Group has been doing a lot of big deals in partnership with other companies. Rockpoint started 2013 off with a bang, having had the largest final closing of the first quarter, with a $1.95 billion fund for distressed and value-added property in the U.S., U.K. and Japan, according to Preqin. Then, in December, the New York REIT bought the 750,000-square-foot office tower at 1440 Broadway from Rockpoint and Monday Properties for $528.6 million. This year, Rockpoint and Fisher Brothers together acquired an approximately 50 percent interest in the Class A office buildings 1345 Avenue of the Americas and 605 Third Avenue. And Rockpoint, along with Highgate Hotels, sold the retail portion of the former Milford Plaza at 700 Eighth Avenue for $64 million earlier this month. The firm has been run by several managing members including Mr. Gelb, who co-founded the Boston-based company more than 18 years ago, and Mr. Gilbane, who joined as a managing member more than 14 years ago. The former oversees the overall operations and management of investment firm Rockpoint, and manages the origination, structuring and asset management of all Rockpoint investment activities. The latter is responsible for Rockpoint’s eastern U.S. investment deals. Rockpoint Group has been doing a lot of big deals in partnership with other companies. Rockpoint started 2013 off with a bang, having had the largest final closing of the first quarter, with a $1.95 billion fund for distressed and value-added property in the U.S., U.K. and Japan, according to Preqin. Then, in December, the New York REIT bought the 750,000-square-foot office tower at 1440 Broadway from Rockpoint and Monday Properties for $528.6 million. This year, Rockpoint and Fisher Brothers together acquired an approximately 50 percent interest in the Class A office buildings 1345 Avenue of the Americas and 605 Third Avenue. And Rockpoint, along with Highgate Hotels, sold the retail portion of the former Milford Plaza at 700 Eighth Avenue for $64 million earlier this month. The firm has been run by several managing members including Mr. Gelb, who co-founded the Boston-based company more than 18 years ago, and Mr. Gilbane, who joined as a managing member more than 14 years ago. The former oversees the overall operations and management of investment firm Rockpoint, and manages the origination, structuring and asset management of all Rockpoint investment activities. The latter is responsible for Rockpoint’s eastern U.S. investment deals.

22. Jeffrey Gural, Jimmy Kuhn, Barry Gosin and David Falk (21) Chairman, President, CEO and President New York Tristate Region, Newmark Grubb Knight Frank



Industry mainstay Newmark Grubb Knight Frank, backed by BGC Partners, continues to grow and expand at a pace that Mr. Gosin has stated could help the firm become one of the country’s top three commercial brokerages. NGKF has aggressively expanded and is poised for continued national growth in order to make gains on the reigning big three: CBRE, JLL and Cushman & Wakefield. The high profile acquisition of Grubb & Ellis in 2012 was followed this year by NGKF’s announcement of BGC’s agreement to acquire Cornish & Carey Commercial, one of northern California’s preeminent commercial real estate companies. Meanwhile, NGKF continues to make its mark in New York City, with an army of prolific brokers that continues to land marquee deals. Last month, a fifth technology company took a full-floor of pre-built office space at 292 Madison Avenue, where NGKF serves as exclusive leasing agent, and the firm represented veteran journalist Dan Rather in his office relocation to 1180 Avenue of the Americas earlier this year. Industry mainstay Newmark Grubb Knight Frank, backed by BGC Partners, continues to grow and expand at a pace that Mr. Gosin has stated could help the firm become one of the country’s top three commercial brokerages. NGKF has aggressively expanded and is poised for continued national growth in order to make gains on the reigning big three: CBRE, JLL and Cushman & Wakefield. The high profile acquisition of Grubb & Ellis in 2012 was followed this year by NGKF’s announcement of BGC’s agreement to acquire Cornish & Carey Commercial, one of northern California’s preeminent commercial real estate companies. Meanwhile, NGKF continues to make its mark in New York City, with an army of prolific brokers that continues to land marquee deals. Last month, a fifth technology company took a full-floor of pre-built office space at 292 Madison Avenue, where NGKF serves as exclusive leasing agent, and the firm represented veteran journalist Dan Rather in his office relocation to 1180 Avenue of the Americas earlier this year.

23. David and Jed Walentas (30) Principals, Two Trees Management



The Domino Sugar Factory continues to dominate the conversation when it comes to Two Trees Management’s current projects. Well known for its development of Dumbo, Two Trees branched out into other parts of Brooklyn in 2012 by winning the right to develop the former industrial site on the surging Williamsburg waterfront. The debate in early 2014 has centered on Mayor Bill de Blasio’s push to add more affordable housing units to the project. In March, Messrs. Walentas conceded to the newly elected official by agreeing to add 40 more units—an additional 110,000 square feet—of affordable housing to the development. As a result, the City Planning Commission unanimously approved the developer’s plans for the site. Last week, the New York City Council’s Land Use Committee approved Two Trees’ plan to construct two 55-story towers at the site, 15 stories taller than anything else on the Brooklyn Waterfront. In Manhattan, Mercedes House, the condo project spearheaded by the younger Walentas, continues to generate buzz. The project made headlines this month when The New York Times reported that it would become home to some of the NYPD’s horses and mounted officers this summer. The Domino Sugar Factory continues to dominate the conversation when it comes to Two Trees Management’s current projects. Well known for its development of Dumbo, Two Trees branched out into other parts of Brooklyn in 2012 by winning the right to develop the former industrial site on the surging Williamsburg waterfront. The debate in early 2014 has centered on Mayor Bill de Blasio’s push to add more affordable housing units to the project. In March, Messrs. Walentas conceded to the newly elected official by agreeing to add 40 more units—an additional 110,000 square feet—of affordable housing to the development. As a result, the City Planning Commission unanimously approved the developer’s plans for the site. Last week, the New York City Council’s Land Use Committee approved Two Trees’ plan to construct two 55-story towers at the site, 15 stories taller than anything else on the Brooklyn Waterfront. In Manhattan, Mercedes House, the condo project spearheaded by the younger Walentas, continues to generate buzz. The project made headlines this month when The New York Times reported that it would become home to some of the NYPD’s horses and mounted officers this summer.

24. Michael Lehrman (18), Howard Lutnick (18) and Anthony Orso (New) CEO, BGC Real Estate; Chairman-CEO, BGC Partners and Cantor Fitzgerald; and CEO, Cantor Commercial Real Estate



BGC Partners is a global brokerage company primarily servicing the wholesale financial and real estate markets. It has been on a buying spree even after picking up the debts of Grubb & Ellis in 2012 and entering the commercial real estate industry a year prior when it acquired the brokerage firm Newmark Knight Frank. This year, BGC acquired Cornish & Carey Commercial, a California-based commercial real estate brokerage with approximately $135 million in revenues in 2012. BGC was named in honor of B. Gerald Cantor who, in 1945, founded what became Cantor Fitzgerald. Mr. Lutnick is also the chairman and chief executive officer of Cantor Fitzgerald. He made headlines last month for filing a $20 million lawsuit against the planning board in the town of Southampton, N.Y. after twice being denied permission to construct a barn on his land. In the fourth quarter 2012, BGC reported that it brought in $432.9 million in revenues for distributable income, a slight drop year-over-year from $436.3 million in fourth-quarter 2013. But for all of 2013, revenues were $1.77 billion, a bit higher than the $1.75 billion the previous year. BGC Partners is a global brokerage company primarily servicing the wholesale financial and real estate markets. It has been on a buying spree even after picking up the debts of Grubb & Ellis in 2012 and entering the commercial real estate industry a year prior when it acquired the brokerage firm Newmark Knight Frank. This year, BGC acquired Cornish & Carey Commercial, a California-based commercial real estate brokerage with approximately $135 million in revenues in 2012. BGC was named in honor of B. Gerald Cantor who, in 1945, founded what became Cantor Fitzgerald. Mr. Lutnick is also the chairman and chief executive officer of Cantor Fitzgerald. He made headlines last month for filing a $20 million lawsuit against the planning board in the town of Southampton, N.Y. after twice being denied permission to construct a barn on his land. In the fourth quarter 2012, BGC reported that it brought in $432.9 million in revenues for distributable income, a slight drop year-over-year from $436.3 million in fourth-quarter 2013. But for all of 2013, revenues were $1.77 billion, a bit higher than the $1.75 billion the previous year.

25. Charlie Garner, Justin Rimel, Shaul Kuba, Avi Shemesh, and Richard Ressler (20) Principal, Vice President, Co-Founders/Principals, CIM Group



Founded in 1994, CIM Group has systematically made its mark across the country by repositioning and developing projects in both established and emerging areas. The company manages three distinct portfolios that include opportunistic, stabilized and infrastructure funds, each of which are diversified by geography, property and risk profile. CIM Group and Magnum Real Estate Group recently announced the acquisition of a condominium interest consisting of floors 11 through 31 at 140 West Street, a 32-story office tower in Tribeca where the firms will convert the upper floors of the building to luxury condos. Late last year, CIM in a partnership with L+M Development Partners and Citi Community Capital bought 265-275 Cherry Street, a two-building residential property consisting of 449,000 rentable square feet located on the Lower East Side. CIM Group also recently purchased 5 Hanover Square, a 25-story, approximately 338,000-square-foot office building located in the Financial District from the New York-based Savanna. Among other recent news, Sony Corporation of America signed a 15-year lease with CIM Group and The Sapir Organization for approximately 525,000 square feet of space at 11 Madison Avenue. Founded in 1994, CIM Group has systematically made its mark across the country by repositioning and developing projects in both established and emerging areas. The company manages three distinct portfolios that include opportunistic, stabilized and infrastructure funds, each of which are diversified by geography, property and risk profile. CIM Group and Magnum Real Estate Group recently announced the acquisition of a condominium interest consisting of floors 11 through 31 at 140 West Street, a 32-story office tower in Tribeca where the firms will convert the upper floors of the building to luxury condos. Late last year, CIM in a partnership with L+M Development Partners and Citi Community Capital bought 265-275 Cherry Street, a two-building residential property consisting of 449,000 rentable square feet located on the Lower East Side. CIM Group also recently purchased 5 Hanover Square, a 25-story, approximately 338,000-square-foot office building located in the Financial District from the New York-based Savanna. Among other recent news, Sony Corporation of America signed a 15-year lease with CIM Group and The Sapir Organization for approximately 525,000 square feet of space at 11 Madison Avenue.

26. Christoph Kahl, Matt Bronfman and Michael Phillips (26) Principal, CEO and COO, Jamestown Properties



Chelsea Market is surely the jewel in Jamestown’s New York City crown. But a burgeoning outer boroughs portfolio is going some way toward challenging the office-food hall hybrid for that distinction. Most notably, the developer is transforming the Industry City site in Sunset Park, Brooklyn into a commercial and light manufacturing complex. So transformative has the work been that The New York Times dubbed Industry City the “Soho of Sunset Park” earlier this year. Meanwhile, in Queens, Jamestown is turning the Falchi Building, a 600,000-square-foot manufacturing facility in Long Island City, into a mixed-used property with retail, office and light manufacturing components. The developer has already brokered a 10-year lease with Juice Press to establish the raw juice purveyor’s distribution center there. Back in Manhattan, Jamestown continues to rake in revenue of more than $23 million per year from the advertising signage at 1 Times Square, despite the fact that the building sits largely vacant. Chelsea Market is surely the jewel in Jamestown’s New York City crown. But a burgeoning outer boroughs portfolio is going some way toward challenging the office-food hall hybrid for that distinction. Most notably, the developer is transforming the Industry City site in Sunset Park, Brooklyn into a commercial and light manufacturing complex. So transformative has the work been that The New York Times dubbed Industry City the “Soho of Sunset Park” earlier this year. Meanwhile, in Queens, Jamestown is turning the Falchi Building, a 600,000-square-foot manufacturing facility in Long Island City, into a mixed-used property with retail, office and light manufacturing components. The developer has already brokered a 10-year lease with Juice Press to establish the raw juice purveyor’s distribution center there. Back in Manhattan, Jamestown continues to rake in revenue of more than $23 million per year from the advertising signage at 1 Times Square, despite the fact that the building sits largely vacant.

27. Mitchell Steir and Michael Colacino (31) Chairman-CEO and President, Studley



Following rumors at the end of last year that Savills was slated to buy New York City-based Studley, the tenant representation specialists appear to be on firm footing. Studley has handled sizable deals like negotiating an 18,134-square-foot lease at the GM Building on behalf of J.C. Flowers & Co and representing the law firm Lester Schwab Katz & Dwyer in a deal for 39,293 square feet at 100 Wall Street. The company has recently been tapped to sell some big residential buildings including the 42-story Battery Park City rental complex Tribeca Pointe and Magnum Real Estate Group’s 81-unit luxury rental building, Bloom62, at 62 Avenue B. Studley helped make a great contribution to lower Manhattan with law firm Jones Day’s relocation to Brookfield Place. Mr. Steir, along with other company executives, represented Jones Day in its end-of-year signing of a 20-year, 330,210-square-foot lease spanning eight contiguous floors at Brookfield Place on the Hudson River waterfront. Also at the end of 2013, the elite Brearley School hired Studley to assist with its search for a possible expansion of its Upper East Side campus. Finally, Studley represented Walnut Hill Group in its sale of 31 West 27th Street for $80.8 million. Following rumors at the end of last year that Savills was slated to buy New York City-based Studley, the tenant representation specialists appear to be on firm footing. Studley has handled sizable deals like negotiating an 18,134-square-foot lease at the GM Building on behalf of J.C. Flowers & Co and representing the law firm Lester Schwab Katz & Dwyer in a deal for 39,293 square feet at 100 Wall Street. The company has recently been tapped to sell some big residential buildings including the 42-story Battery Park City rental complex Tribeca Pointe and Magnum Real Estate Group’s 81-unit luxury rental building, Bloom62, at 62 Avenue B. Studley helped make a great contribution to lower Manhattan with law firm Jones Day’s relocation to Brookfield Place. Mr. Steir, along with other company executives, represented Jones Day in its end-of-year signing of a 20-year, 330,210-square-foot lease spanning eight contiguous floors at Brookfield Place on the Hudson River waterfront. Also at the end of 2013, the elite Brearley School hired Studley to assist with its search for a possible expansion of its Upper East Side campus. Finally, Studley represented Walnut Hill Group in its sale of 31 West 27th Street for $80.8 million.

28. Jeffrey Feil and Jay Anderson (33) CEO and Executive Vice President, Feil Organization



Over the course of six decades, The Feil Organization has become one of the nation’s foremost real estate companies. The firm owns, manages and has developed over 26 million square feet of retail, commercial and industrial properties; over 5,000 residential rental units; hundreds of net-leased properties and thousands of acres of undeveloped land across the country. Mr. Feil and Mr. Anderson today count at least 13 properties in their Manhattan portfolio. The buildings, concentrated in Midtown and Midtown South, include 570 Lexington Avenue, the Fred French Building at 551 Fifth Avenue, 200 West 57th Street, 250 Park Avenue and 257 Park Avenue South. The firm also owns the Queens Atrium, a former industrial building in Long Island City that dates back to the first quarter of the century. It was redeveloped into a modern showroom, office and conference space and master-planned by Chinese-American master architect I.M. Pei. The New York City Department of Design and Construction recently renewed and expanded its space at that building with a 233,000-square-foot lease. The firm is also in the latter stages of developing a new five-story boutique office building on East 161st Street. Over the course of six decades, The Feil Organization has become one of the nation’s foremost real estate companies. The firm owns, manages and has developed over 26 million square feet of retail, commercial and industrial properties; over 5,000 residential rental units; hundreds of net-leased properties and thousands of acres of undeveloped land across the country. Mr. Feil and Mr. Anderson today count at least 13 properties in their Manhattan portfolio. The buildings, concentrated in Midtown and Midtown South, include 570 Lexington Avenue, the Fred French Building at 551 Fifth Avenue, 200 West 57th Street, 250 Park Avenue and 257 Park Avenue South. The firm also owns the Queens Atrium, a former industrial building in Long Island City that dates back to the first quarter of the century. It was redeveloped into a modern showroom, office and conference space and master-planned by Chinese-American master architect I.M. Pei. The New York City Department of Design and Construction recently renewed and expanded its space at that building with a 233,000-square-foot lease. The firm is also in the latter stages of developing a new five-story boutique office building on East 161st Street.

29. Blake Hutcheson and Andrew Trickett (New) President-CEO and Senior Managing Director of Investments, Oxford Properties Group



Though the firm’s name is often mentioned in the same breath as its development partner, Related, when it comes to discussion of Hudson Yards, Oxford Properties Group’s top executive, Mr. Hutcheson, rarely gets the same billing as his Related counterpart, Stephen Ross. But that doesn’t mean the Canadian isn’t making his mark on New York. Mr. Hutcheson, who served as chief executive of CBRE in Canada for over a decade, left the Great White North to take over Mount Kellett Capital Management’s real estate unit in New York in the aughts. But he wouldn’t be away from Canada for long—he returned to run Oxford in 2010. The firm, a division of the Ontario Municipal Employees Retirement System, is aiming to develop and actively manage a $10 billion real estate portfolio in the United States by the end of the year and judging by recent activity, Oxford is well on its way. In addition to working with Related on the Hudson Yards development on the Far West Side, the firm also owns a stake in Olympic Tower at 645 Fifth Avenue and bolstered its portfolio last year with the $575 million acquisition of 450 Park Avenue from Somerset Partners and Michael Tabor. Though the firm’s name is often mentioned in the same breath as its development partner, Related, when it comes to discussion of Hudson Yards, Oxford Properties Group’s top executive, Mr. Hutcheson, rarely gets the same billing as his Related counterpart, Stephen Ross. But that doesn’t mean the Canadian isn’t making his mark on New York. Mr. Hutcheson, who served as chief executive of CBRE in Canada for over a decade, left the Great White North to take over Mount Kellett Capital Management’s real estate unit in New York in the aughts. But he wouldn’t be away from Canada for long—he returned to run Oxford in 2010. The firm, a division of the Ontario Municipal Employees Retirement System, is aiming to develop and actively manage a $10 billion real estate portfolio in the United States by the end of the year and judging by recent activity, Oxford is well on its way. In addition to working with Related on the Hudson Yards development on the Far West Side, the firm also owns a stake in Olympic Tower at 645 Fifth Avenue and bolstered its portfolio last year with the $575 million acquisition of 450 Park Avenue from Somerset Partners and Michael Tabor.

30. Joseph Chetrit (24) President, Chetrit Group



Chetrit Group, headed by Mr. Chetrit and his brother Joseph, is on a demolition tear. The firm is working on its fifth set of plans for the Cabrini Medical Center conversion project at 228 East 20th Street. Chetrit bought the Gramercy Park site last year from Memorial Sloan-Kettering for $150 million. In addition, Chetrit and Cornell Realty Management purchased two adjacent properties—245 and 247 West 34th Street—across the street from Madison Square Garden in January for $31.5 million. In March, the team got approval from the Department of Buildings to demolish them. Also this year, the city O.K.’d the demolition of four commercial properties—at 541-545 West 37th Street and 540-544 West 38th Street—on a prospective development site near Hudson Yards. Mr. Chetrit made a serious profit in selling a Tribeca office building to the investment firm Bridgeton Holdings for $42 million this year. He bought the 10-story, 61,000-square-foot building in 1994 for $1 million following foreclosure proceedings against former owner Fortune Smooth US Ltd. In February, Mr. Chetrit suffered a loss with Sony Corporation of America’s relocation from 550 Madison Avenue. The Chetrit-led partnership’s purchase of 550 Madison was the third priciest commercial deal in New York City last year. Chetrit Group, headed by Mr. Chetrit and his brother Joseph, is on a demolition tear. The firm is working on its fifth set of plans for the Cabrini Medical Center conversion project at 228 East 20th Street. Chetrit bought the Gramercy Park site last year from Memorial Sloan-Kettering for $150 million. In addition, Chetrit and Cornell Realty Management purchased two adjacent properties—245 and 247 West 34th Street—across the street from Madison Square Garden in January for $31.5 million. In March, the team got approval from the Department of Buildings to demolish them. Also this year, the city O.K.’d the demolition of four commercial properties—at 541-545 West 37th Street and 540-544 West 38th Street—on a prospective development site near Hudson Yards. Mr. Chetrit made a serious profit in selling a Tribeca office building to the investment firm Bridgeton Holdings for $42 million this year. He bought the 10-story, 61,000-square-foot building in 1994 for $1 million following foreclosure proceedings against former owner Fortune Smooth US Ltd. In February, Mr. Chetrit suffered a loss with Sony Corporation of America’s relocation from 550 Madison Avenue. The Chetrit-led partnership’s purchase of 550 Madison was the third priciest commercial deal in New York City last year.

31. Howard and Steven Rubenstein (New) President-Chair, President, Rubenstein



Since founding the communications and media relations firm that bears his name in 1954, Howard Rubenstein, along with son Steven Rubenstein, has served as counselor to some of the world’s most influential organizations and leaders, many of whom conduct business within the commercial real estate world. The firm counts industry giants Tishman Speyer and Vornado among its clients and this month announced new clients including: ARK Development, which is currently developing The ARK at JFK airport; real estate auctioneer Sheldon Good & Company; and industrial designer Karim Rashid. Other marquee clients include Paramount Pictures, HBO, the New York Post, Lionsgate, the National Football League, Time magazine, Hearst, and Activision/Blizzard. The elder Rubenstein sits on the executive committees of the Real Estate Board of New York, NYC & Co. and the Association for a Better New York, which he helped to found. He also served on the Mayor’s Committee on Business & Economic Development for Mayors Beame, Dinkins and Giuliani. In addition to jointly overseeing the day-to-day operations of the firm with his father, the younger Rubenstein planned and coordinated communications for the Tribeca Film Festival, New Year’s Eve in Times Square and the lighting of the Rockefeller Christmas Tree. Since founding the communications and media relations firm that bears his name in 1954, Howard Rubenstein, along with son Steven Rubenstein, has served as counselor to some of the world’s most influential organizations and leaders, many of whom conduct business within the commercial real estate world. The firm counts industry giants Tishman Speyer and Vornado among its clients and this month announced new clients including: ARK Development, which is currently developing The ARK at JFK airport; real estate auctioneer Sheldon Good & Company; and industrial designer Karim Rashid. Other marquee clients include Paramount Pictures, HBO, the New York Post, Lionsgate, the National Football League, Time magazine, Hearst, and Activision/Blizzard. The elder Rubenstein sits on the executive committees of the Real Estate Board of New York, NYC & Co. and the Association for a Better New York, which he helped to found. He also served on the Mayor’s Committee on Business & Economic Development for Mayors Beame, Dinkins and Giuliani. In addition to jointly overseeing the day-to-day operations of the firm with his father, the younger Rubenstein planned and coordinated communications for the Tribeca Film Festival, New Year’s Eve in Times Square and the lighting of the Rockefeller Christmas Tree.

32. Doug Harmon (35), Adam Spies (35), and Ben Lambert (New) Senior Managing Directors and Chairman, Eastdil Secured



When a multimillion-dollar trophy office building trades, or a sought-after development site is acquired, the brokers behind the deals are quite often the gentlemen of Eastdil Secured. The firm, which boasts a potpourri of business offerings, including investment sales, investment banking and note sales, has brokered some of the biggest sales in Gotham in recent years, with the relatively small shop honing in on the business of corporate giants like CBRE. In the last year, Messrs. Spies and Harmon brokered the $1.1 billion sale of the Sony building at 550 Madison Avenue, helped trade 650 Madison Avenue for $1.3 billion and brokered the sale of a 49 percent interest in Worldwide Plaza, which sold to Scott Rechler’s RXR Realty for $660 million. In January, they repped Time Warner when the company sold its office space at the Time Warner Center to a venture of the Related Companies, the Abu Dhabi Investment Authority and Singapore’s GIC for $1.3 billion. None of this would be possible without Mr. Lambert, who founded the firm—now a subsidiary of Wells Fargo—in 1967. He is said to step in and smooth things over when multimillion dollar trades step on bigwigs’ toes, such as when he reportedly took Harry Macklowe out to lunch after he lost out on his bid for the Sony building. When a multimillion-dollar trophy office building trades, or a sought-after development site is acquired, the brokers behind the deals are quite often the gentlemen of Eastdil Secured. The firm, which boasts a potpourri of business offerings, including investment sales, investment banking and note sales, has brokered some of the biggest sales in Gotham in recent years, with the relatively small shop honing in on the business of corporate giants like CBRE. In the last year, Messrs. Spies and Harmon brokered the $1.1 billion sale of the Sony building at 550 Madison Avenue, helped trade 650 Madison Avenue for $1.3 billion and brokered the sale of a 49 percent interest in Worldwide Plaza, which sold to Scott Rechler’s RXR Realty for $660 million. In January, they repped Time Warner when the company sold its office space at the Time Warner Center to a venture of the Related Companies, the Abu Dhabi Investment Authority and Singapore’s GIC for $1.3 billion. None of this would be possible without Mr. Lambert, who founded the firm—now a subsidiary of Wells Fargo—in 1967. He is said to step in and smooth things over when multimillion dollar trades step on bigwigs’ toes, such as when he reportedly took Harry Macklowe out to lunch after he lost out on his bid for the Sony building.

33. Leonard Litwin and Gary Jacob (27) Chairman and Executive Vice President, Glenwood Management



Set to turn 100 years old later this year, Mr. Litwin is the oldest member of the Power 100 list. His firm currently owns and operates approximately 24 buildings in Manhattan and they share a reputation for being well-built, well-managed and offering a range of amenities that set the firm apart. Glenwood’s third project in the Lincoln Square area, a 48-story, 257-unit development coming to 175 West 60th Street, is underway and slated for completion in the spring of 2016 after winning approval from the Department of Buildings last year. The Manhattan-based company also built a 54-story tower at 160 West 62nd Street and a 30-story building at 1930 Broadway. Mr. Litwin was named the Real Estate Board of New York’s first-ever lifetime honorary chairman in 2012. He got his start in the nursery business and has continued to operate Long Island’s Woodbourne Cultural Nurseries, which he reportedly plans to preserve as a 200-acre arboretum. The firm recently forayed into the sustainable development sphere with the high-end Crystal Green apartments in Midtown at 330 West 39th Street. That property is Glenwood’s second “sustainably built rental,” according to the firm, following the example set by the Emerald Green. Mr. Jacob oversees many of Glenwood’s day-to-day operations. Set to turn 100 years old later this year, Mr. Litwin is the oldest member of the Power 100 list. His firm currently owns and operates approximately 24 buildings in Manhattan and they share a reputation for being well-built, well-managed and offering a range of amenities that set the firm apart. Glenwood’s third project in the Lincoln Square area, a 48-story, 257-unit development coming to 175 West 60th Street, is underway and slated for completion in the spring of 2016 after winning approval from the Department of Buildings last year. The Manhattan-based company also built a 54-story tower at 160 West 62nd Street and a 30-story building at 1930 Broadway. Mr. Litwin was named the Real Estate Board of New York’s first-ever lifetime honorary chairman in 2012. He got his start in the nursery business and has continued to operate Long Island’s Woodbourne Cultural Nurseries, which he reportedly plans to preserve as a 200-acre arboretum. The firm recently forayed into the sustainable development sphere with the high-end Crystal Green apartments in Midtown at 330 West 39th Street. That property is Glenwood’s second “sustainably built rental,” according to the firm, following the example set by the Emerald Green. Mr. Jacob oversees many of Glenwood’s day-to-day operations.

34. Darcy Stacom and Bill Shanahan (40) Vice Chairmen, CBRE



Ms. Stacom and Mr. Shanahan have brokered some of the largest deals in New York’s history, including the $5.4 billion sale of Stuyvesant Town-Peter Cooper Village to Tishman Speyer and BlackRock Realty during the height of the market. The duo continues to work deals reminiscent of the boom years as the market nears full recovery. Last year, they brokered the sale of a 40 percent stake in the GM Building to Sungate Trust for $1.4 billion, which valued the building at $3.4 billion and ranked it among the most valuable properties in the country. That sale set off a string of large office buildings that reflected increased demand for the perceived safety of the city’s building stock. Also, late last year, the pair represented Gotham Organization and its investor AIG Affordable Housing in the reported $170 million sale of an apartment building at 520 West 43rd Street. And, earlier this month, news broke that the duo had nearly reached a deal to sell 1370 Broadway to the State of Florida Pension Fund for $186 million. Both Ms. Stacom and Mr. Shanahan have completed over $60 billion in sales, financing, joint venture, advisory, leasehold and development transactions, according to CBRE. Ms. Stacom and Mr. Shanahan have brokered some of the largest deals in New York’s history, including the $5.4 billion sale of Stuyvesant Town-Peter Cooper Village to Tishman Speyer and BlackRock Realty during the height of the market. The duo continues to work deals reminiscent of the boom years as the market nears full recovery. Last year, they brokered the sale of a 40 percent stake in the GM Building to Sungate Trust for $1.4 billion, which valued the building at $3.4 billion and ranked it among the most valuable properties in the country. That sale set off a string of large office buildings that reflected increased demand for the perceived safety of the city’s building stock. Also, late last year, the pair represented Gotham Organization and its investor AIG Affordable Housing in the reported $170 million sale of an apartment building at 520 West 43rd Street. And, earlier this month, news broke that the duo had nearly reached a deal to sell 1370 Broadway to the State of Florida Pension Fund for $186 million. Both Ms. Stacom and Mr. Shanahan have completed over $60 billion in sales, financing, joint venture, advisory, leasehold and development transactions, according to CBRE.

35. Bill de Blasio (New) Mayor, New York City



It is no small task to fill the shoes of former Mayor Michael Bloomberg, who the real estate industry largely praised for his pro-development and pro-business stances and initiatives. So far, the industry is giving Mr. de Blasio mixed reviews, but relief did come with many of his administrative appointments that signaled less of a divergence from the Bloomberg administration than some businesspeople had feared. Mr. de Blasio tapped Giuliani-era Police Commissioner Bill Bratton, also featured in this year’s Power 100 list, for his second stint as the city’s top cop, giving the industry a familiar face and helping assure some people that crime will stay in check under this new administration. Several other picks the mayor made will be critical in shaping the future of the real estate industry in New York City. Another sigh of relief came with the decision to retain Bloomberg administration veteran Kyle Kimball, also a Power 100 winner, as president of the city’s Economic Development Corporation. Mr. de Blasio also tapped longtime Goldman Sachs executive Alicia Glen, yet another person on the Power 100 list to head his ambitious affordable housing plan. The results largely remain to be seen. It is no small task to fill the shoes of former Mayor Michael Bloomberg, who the real estate industry largely praised for his pro-development and pro-business stances and initiatives. So far, the industry is giving Mr. de Blasio mixed reviews, but relief did come with many of his administrative appointments that signaled less of a divergence from the Bloomberg administration than some businesspeople had feared. Mr. de Blasio tapped Giuliani-era Police Commissioner Bill Bratton, also featured in this year’s Power 100 list, for his second stint as the city’s top cop, giving the industry a familiar face and helping assure some people that crime will stay in check under this new administration. Several other picks the mayor made will be critical in shaping the future of the real estate industry in New York City. Another sigh of relief came with the decision to retain Bloomberg administration veteran Kyle Kimball, also a Power 100 winner, as president of the city’s Economic Development Corporation. Mr. de Blasio also tapped longtime Goldman Sachs executive Alicia Glen, yet another person on the Power 100 list to head his ambitious affordable housing plan. The results largely remain to be seen.

36. Joel Seiden and Ofer Yardeni (39) Managing Partners, Stonehenge Partners



Originally focused on distressed assets, these days Stonehenge Partners is investing in the opposite: prime and trophy properties in Manhattan. Founders Joel Seiden and Ofer Yardeni in 2012 partnered with SL Green Realty Corp. and retail titan Jeff Sutton to buy a $416 million portfolio that includes eight prime Upper East Side properties and retail spaces. More recently, Stonehenge bought 103 East 86th Street, also on the Upper East Side, for $76 million and converted 555 Avenue of the Americas, a site at the former St. Vincent’s Hospital into a 180-unit luxury residential building. With that project, Stonehenge brightened what Mr. Yardeni has called the “darkest block on Sixth Avenue” with revamped retail and renovated apartments. In January, they signed their first tenant, a new high-end fitness concept, at the transformative Village project. Last August, Stonehenge sold, also to SL Green, the luxury Chelsea rental development The Olivia for $386 million as the part of the office landlord’s push into residential real estate. The Stonehenge portfolio is valued at $2.2 billion, according to the firm. Originally focused on distressed assets, these days Stonehenge Partners is investing in the opposite: prime and trophy properties in Manhattan. Founders Joel Seiden and Ofer Yardeni in 2012 partnered with SL Green Realty Corp. and retail titan Jeff Sutton to buy a $416 million portfolio that includes eight prime Upper East Side properties and retail spaces. More recently, Stonehenge bought 103 East 86th Street, also on the Upper East Side, for $76 million and converted 555 Avenue of the Americas, a site at the former St. Vincent’s Hospital into a 180-unit luxury residential building. With that project, Stonehenge brightened what Mr. Yardeni has called the “darkest block on Sixth Avenue” with revamped retail and renovated apartments. In January, they signed their first tenant, a new high-end fitness concept, at the transformative Village project. Last August, Stonehenge sold, also to SL Green, the luxury Chelsea rental development The Olivia for $386 million as the part of the office landlord’s push into residential real estate. The Stonehenge portfolio is valued at $2.2 billion, according to the firm.

37. Edward Minskoff (42) President, Edward J. Minskoff Equities



The 13-story, 430,000-square-foot glass building at 51 Astor Place, now known as the IBM Watson building, is among the most buzzworthy buildings to hit the market in recent memory. The property’s status as a “spec tower” garnered much speculation regarding potential leases (or lack thereof), with months of silence finally broken in October when 1stdibs set off a string of deals that would ultimately include St. John’s University, MailOnline and, of course, IBM Watson Group. IBM reportedly beat out Twitter as the building’s anchor tenant, with Mr. Minskoff and the JLL team marketing the property reportedly pulling in rents that stretch well beyond $100 per square foot. Known for his unique sense of style and a love of art, philanthropy, squash and golf, Mr. Minskoff last month told Commercial Observer that he was “optimistic” he would have the building fully leased up in less than two months, and that negotiations for the property’s final two floors were under way. He has developed close to 37 million square feet of property in 10 cities around the country. More than 30 years ago, he started construction on the sprawling, 7.5-million-square-foot World Financial Center without a single tenant in contract and patiently secured giants like American Express, Merrill Lynch and Dow Jones. The 13-story, 430,000-square-foot glass building at 51 Astor Place, now known as the IBM Watson building, is among the most buzzworthy buildings to hit the market in recent memory. The property’s status as a “spec tower” garnered much speculation regarding potential leases (or lack thereof), with months of silence finally broken in October when 1stdibs set off a string of deals that would ultimately include St. John’s University, MailOnline and, of course, IBM Watson Group. IBM reportedly beat out Twitter as the building’s anchor tenant, with Mr. Minskoff and the JLL team marketing the property reportedly pulling in rents that stretch well beyond $100 per square foot. Known for his unique sense of style and a love of art, philanthropy, squash and golf, Mr. Minskoff last month told Commercial Observer that he was “optimistic” he would have the building fully leased up in less than two months, and that negotiations for the property’s final two floors were under way. He has developed close to 37 million square feet of property in 10 cities around the country. More than 30 years ago, he started construction on the sprawling, 7.5-million-square-foot World Financial Center without a single tenant in contract and patiently secured giants like American Express, Merrill Lynch and Dow Jones.

38. Kyle Kimball (New) President, New York City Economic Development Corporation



Welcome to the Power 100, Mr. Kimball! As president of the city’s Economic Development Corporation, Mr. Kimball is tapped with growing the city’s economy, overseeing billions of dollars in capital investments and implementing area-wide redevelopment projects. And he has had his hands full since succeeding Seth Pinsky in August 2013 as Mayor Michael Bloomberg wound down his final term and tried to push through as many “legacy” initiatives as possible. In his current role and in that of executive director, chief financial officer and executive vice president and division head for real estate, Mr. Kimball has been instrumental in delivering outer-borough economic development projects including the Gotham Center Project in Long Island City and the transformation of the Bronx’s long-vacant Kingsbridge Armory into the world’s largest ice center. He has been trying to reshape Willets Point, Queens, into a shopping destination and residential district and assisted in the development of the historic Applied Sciences NYC initiative, which resulted in the creation of four new applied science and engineering campuses. Mr. Kimball made a transition into public service in 2008 when he joined EDC and oversaw the Transaction Services Group. Welcome to the Power 100, Mr. Kimball! As president of the city’s Economic Development Corporation, Mr. Kimball is tapped with growing the city’s economy, overseeing billions of dollars in capital investments and implementing area-wide redevelopment projects. And he has had his hands full since succeeding Seth Pinsky in August 2013 as Mayor Michael Bloomberg wound down his final term and tried to push through as many “legacy” initiatives as possible. In his current role and in that of executive director, chief financial officer and executive vice president and division head for real estate, Mr. Kimball has been instrumental in delivering outer-borough economic development projects including the Gotham Center Project in Long Island City and the transformation of the Bronx’s long-vacant Kingsbridge Armory into the world’s largest ice center. He has been trying to reshape Willets Point, Queens, into a shopping destination and residential district and assisted in the development of the historic Applied Sciences NYC initiative, which resulted in the creation of four new applied science and engineering campuses. Mr. Kimball made a transition into public service in 2008 when he joined EDC and oversaw the Transaction Services Group.

39. Doug Shorenstein and Mark Portner (36) Directors, Shorenstein Company



Shorenstein Properties, a private San Francisco-based real estate investment firm with an office in New York City, owns and manages 25.9 million square feet of office and mixed-use properties nationwide. It has a firm commitment to sustainability, owning more than 14 million square feet of property LEED-certified at the Silver level or higher. In March, Shorenstein announced that it had received LEED certification for three different buildings in California. The firm, founding in 1924, specializes in the management, leasing and development of office properties and has stakes in Park Avenue Tower, 850 Third Avenue and 477 Madison Avenue. Shorenstein purchased majority stakes in the former two from Macklowe Properties for a combined $930 million in 2008. The 615,857-square-foot Park Avenue Tower, at 65 East 55th Street, was built in 1986. It was designed as a “building-within-a-building” for IBM, the tower’s original anchor tenant. At the end of last year, Grocon, Australia’s largest privately owned development company, was seeking $500 million in financing for the acquisition of a majority sta