From left to right: Stephen Ross of Related Companies, Jonathan Gray of Blackstone Group, Ruby Schron of Cammeby’s International, Richard LeFrak of LeFrak Organization and Douglas Eisenberg of A&E Real Estate Holdings
From the July issue: With all of the trades, windfalls, setbacks and wildcards, New York City’s rental market can often resemble a big round of Monopoly. But in the real world, the wins and losses are far greater than what can be counted in multicolored cash.
This month, The Real Deal pored through public documents gathered in April to come up with a first-ever, exclusive ranking of who owns the most rental apartments in New York City. What we discovered was that just 20 landlords hold more than 150,000 of the city’s approximately 2.2 million rental units. And those properties netted their owners more than $2 billion in annual income as recently as 2014, according to an analysis of New York City Department of Finance tax records. [more]