The Real Deal New York

New York City real estate bigwigs rank among world’s richest Jewish people

November 11, 2013 04:20PM

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From left: Eyal Ofer,

From left: Eyal Ofer, Malcom Glazer and Leonard Stern

Several of the world’s richest Jews have honed their fortunes in the New York City real estate market, according to a new ranking from Forbes Israel.

Israeli billionaire Eyal Ofer, the under-the-radar majority investor in some of Manhattan’s most high-profile residential developments, ranked the highest of those in real estate and 37th overall with his $6 billion fortune. Though a fair chunk of his change also comes from activity in the shipping industry, he notably invested in the Zeckendorfs’ 50 UN Plaza, 15 Central Park West and 18 Gramercy Park, as well as Rudin Management’s St. Vincent’s hospital conversion Greenwich Lane.

Malcom Glazer, president and CEO of First Allied Corporation, owner of the Tampa Bay Buccaneers and the Manchester United Football Club, came in 44th with a $4 billion fortune. Developer Leonard Stern, who recently listed his Soho penthouse for $17.25 million, came in 51st with his reported $4.2 billion, while Equity Residential’s Sam Zell, who built his fortune leveraging down-at-the-heels properties in the 1990s but has been relatively quiet as of late, came in 54th with his $4 billion.

Also on the list were Sheldon Solow, who came in 58th; developer and philanthropist Alfred Taubman at 74th; investor Mort Zuckerman, chairman of Boston Properties, at 89th; and Simon Property Group’s Herbert Simon, who came in 93rd. [Forbes Israel]Julie Strickland

  • AnneeZ

    Personally, I can understand ethnicity being referenced, but religion in a real estate news article doesn’t seem politically correct to me to reference. (i.e. could’ve been titled “on Forbes Israel List” instead of “Jews”. Indeed, right underneath is an article link about “12 NY RE tycoons make billionaire list”. Understand?

    • Marilynn S. Kornfeld

      Agree

  • htpalmer

    And the point of this exercise is what? Why should we care that they’re Jews? As a Jew myself, I couldn’t care less and I worry that this will feed the heads of those crazy right-wing anti-Semites as another demonstration of how Jews are taking over the world. Or at least New York City. Why don’t we do the same for Italians, Irish and other denominations, religions, race etc? I think there are more pertinent issues than this. Come on Real Deal, deal real.

  • Jew

    Amen to both comments below!

  • LeighKampingCarder

    Hi AnneeZ and htpalmer. We definitely take your points. The ranking — which was done by Forbes Israel, not us — was based on the individuals’ religion/ethnicity. So, for example, Mark Zuckerberg makes the list even though he’s not Israeli. If and when Forbes ever does a ranking of Italians, Nebraskans, Catholics, senior citizens — whatever — you can bet we’ll scour the list for NYC real estate figures.

    • Jew

      That Forbes is bigoted, perhaps unwittingly, doesn’t justify reiteration by other publication(s) unless it’s meant to point out Forbes’s errant conduct…

    • mike

      Love your sarcasm!

      • LeighKampingCarder

        Hi mike, wanted to clarify that I was being absolutely serious.

  • Jeffrey F. Cohen, Esq,

    I have a small law office in the Little Italy section of the Bronx, do a lot of real estate and landlord tenant litigation and transactions, and am an observant Jew. I am absolutely stunned by this report. I am scratching my head in between my typewritten strokes of this response as to what relevance or significance this has to do with anything having to do with the nuts and bolts of new york’s real estate industry. Now, if I were someone with a scorecard to keep of Jews in high places and with an agenda to expose them for criticism and ultimate extermination, then I can see the point of this article. And I would offer you kudos instead of the intense distaste that I feel for your puerile disclosure; a revelation I might add that could only wet the appetites of a boor or an evil minded sadist.
    In my practice, I have represented more Muslims than you have probably met–from Kosova, India, Pakistan, Jordan, Africa, Slovakia, and yes even American born. I have also represented Latinos (Puerto Rican, Dominincan, Mexican), Italians, Irish, African blacks, African Americans, and yes, in the minority, I might add, Jews, American and Israeli.
    Could it be that your wealthiest Jews in the NY Real Estate Industry is actually an introduction to exposing the wealthiest members amongst the ethnic and racial classes involved in New York real estate. If so, this will be a long running feature. But, I am sure that if you do so, you will appeal to the same small minded bigots that your current piece does. Lastly, and as I think about it, maybe your offering was unconsciously done in celebration of the 75th anniversay of that great holiday that most anti-Semites are familiar with: Kristallnacht. Jeffrey F. Cohen, Esq.

    • Marilynn S. Kornfeld

      Kudos.!
      Don’t understand the reason other than bringing attention to a special group that can result in negative results.

    • Charlie

      WELL SAID!!

    • Albert A.

      Well said Jeff. I am still scratching my head as to the point of this article. I was actually expecting some anti-semetic responses to this article after I read it. If this was CNN, I’m sure there would have been thousands by now.

  • mike

    Jews are not the only wealthy Investors in NYC! I Am actually looking forward in seeing what other nationalities are big In the real estate game I am sure there are plenty of Italians, Greeks, Indians, that make up of allot of real estate ownership. I guess its more appealing to the eye when you do an article about billionaires, Again there are other non jewish real estate billionaires as well I am just a little offended by the Real Deal about always throwing out / Promoting its nationality/ Religion.

  • Jew

    Perhaps it will be a god idea to remove this offensive piece from this otherwise very useful and welcome publication …

  • d. simonson

    I think the combination of Mayor Bloomberg and the Jewish Real Estate community contributed to the success of the Jewish developers, investors, etc. For instance I don’t think Beth Israel would have come down as quickly as St. Vincent’s Hospital to
    make room for Rudin’s new overbearing development where St. Vincent’s once stood.
    The loss of a most needed hospital to build more condos in a congested area simply
    doesn’t make sense — it does make money.

    • Holocaust survivor child

      d.simonson’s post is exactly the sort of reaction we dont need from this article. Conspiracy theories now abound, all baseless. And the finger pointing goes to the people who are different and successful despite their minority status . Just like Germany, Hungary today, Russia today, etc. The article made sense in Israel where success of Jews is something to be proud of especially after the decimation of WW II. But in the US? To title the article Jews in NY Real Estate? Why? WHy? Why?

  • Cedar Cat

    What is the fuss? Hip, hip hooray for the Jews! This is a Forbes Israel report, so relax. So tiring whenever you get close to that third rail, you can’t say anything. Unless, of course, its the never-ending reminders of the Holocaust…. Having said that, I would be interested to read about the ethnicity of the major players of all religions and the countries that are the source of their capital.

  • A NYC RE Broker

    If you follow the real estate industry in New York, you should know that a significant number of foreign investors are buying up New York City real estate. These include, Chinese, Russians, Mexicans, Canadians, Middle Easterners and so on. So consceivably the day may come when NYC will be more owned by foreigners. As someone who has done a great deal of business with New York real estate “Jews” (I am not Jewish) I can only say I must admire their success and business acumen and as with any person I cannot condemn the ability to be successful. Most of my transactions have been rewarding in more ways than simply financial. I think the article in question however could have titled differently as it really serves no informative or constructive purpose.

  • Silky Slim

    As an American born black man…what I would’nt give to have people chirp conspiracy theories about a group of us being outlandishly successful real estate billionaires.(me among them)

  • David Gerimci

    This is a news article? Is this a big secret ? Im sure that 99.9% of people that read your magazine are in the real estate industry and know that people of Jewish religion are heavy players in New York real estate. What is your point Real Deal? Is this information for someone living under a rock? Very surprised that you would share this article written by Forbes Israel that has no informational basis and also seems bigotry. Stick to REAL industry news Real Deal!

  • 1Lionel

    Let’s not get overwrought by this. Given that it was Forbes Israel that was behind it I don’t think the article was meant to disparage or bring disrepute in any way to a community that is admired around the world for its diligence, intelligence, work ethic etc. Sure there are tens of millions particularly in some benighted parts of the world who reflexively hate the Jewish community but an article like this is unlikely to find its way into their midst. More importantly they don’t need facts to fuel their hatred.

  • Michael Andrew Graf Rasch

    While reading this I kept thinking that we might be in germany in 1937 ( or 39 ). What do I care about the ethnic background of the wealth. Something smells mighty wrong and just weird. Personally, I was very uncomfortable reading this since it singled out a specific group ( and I got a bad feeling that they just were made targets of persecution )

  • Sh!t My Tenants Say

    Until there are articles for other groups, SHAME ON TRD
    https://twitter.com/SMTSay

  • LeighKampingCarder

    Thanks for all your comments — we’re heartened to see such a lively yet respectful debate taking place here. We’ve been discussing the Forbes story in the newsroom as well, and generally agree that it missed the mark. A wealth ranking based on ethnicity or religion just isn’t the same as one based on residency or some other neutral quality. That said, we maintain that our mission at The Real Deal is to bring readers all the New York City real estate news that’s out there. We’ll continue to do so with your comments in mind.

  • jake
  • Afan

    Folks: The real deal didnt do this story – FORBES ISRAEL DID

  • Ben

    Thank you everybody, For your insightful response and voice of sensibility.

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