Jeffrey Gural (photo credit: STUDIO SCRIVO)

From the October issue: Jeffrey Gural is the chairman of Newmark Grubb Knight Frank, the full-service commercial real estate firm, which was recently acquired by BGC Partners. He is the son of the late Aaron Gural, the company’s former chairman, and has headed the firm since 1978 with business partner Barry Gosin. During their tenure, the New York company expanded nationally and, in 2006, formed a strategic partnership with London-based real estate firm Knight Frank. Jeffrey Gural is also the owner of New Jersey’s Meadowlands Racetrack and the chairman of American Racing and Entertainment, which owns two upstate racetrack/casinos, Tioga Downs and Vernon Downs. [more]

President Barack Obama and Mitt Romney

President Barack Obama has pulled ahead of his rival, former Massachusetts Governor Mitt Romney, in the quest for direct campaign donations from residents of New York state who work in the real estate industry, an analysis of campaign finance data from the U.S. Federal Elections Commission shows.

In the first seven months of the year, Obama’s campaign took in 610 contributions worth a total of $202,620 from real estate industry professionals; during the same period, Romney’s campaign took in 214 contributions worth $182,554. [more]

From left: Gov. Chris Christie, Newmark Chairman Jeffrey Gural and the Revel resort

Just as New York appears closer to legalizing gambling, New Jersey Governor Chris Christie is blocking attempts to expand his state’s gambling options beyond Atlantic City, according to Bloomberg News.

After Pennsylvania legalized slots in 2006 and table games in 2010, it began usurping gambling revenue from Atlantic City. In fact, revenue for boardwalk casinos has fallen 37 percent since 2006, to $3.3 billion last year. And with more competition likely to arrive from New York, lawmakers want to amend the state constitution to allow casinos near the Meadowlands, closer to Manhattan. [more]

(source: U.S. Federal Election Commission)

In the last three months of 2011, New York City real estate executives gave more than six times as much to Republican political committees as Democratic groups, a review of federal election documents released yesterday shows.

Republican backers, including Vornado Realty Trust’s Steven Roth and Related Companies’ Stephen Ross, donated a total of $280,000 in the fourth quarter of the year to federal campaign committees, while Democrats contributed $43,300. An additional 10 donors gave $36,000 to political groups that back candidates in both parties (see partial list above and full list after the jump)…. [more]

From left: Newmark Knight Frank Chairman Jeffrey Gural and the Meadowlands RacetrackNewmark Knight Frank Chairman Jeffrey Gural has signed a 30-year lease to operate the Meadowlands Racetrack in New Jersey, according to the Associated Press. New Jersey Governor Chris Christie has long sought a private operator for the track, so that taxpayers wouldn’t continue to subsidize what’s become a losing entity. This year, the track is projected to lose $11 million. The deal ensures a full slate of races at the track, beginning Jan. 6. … [more]

From left: Developer Larry Silverstein, Newmark Knight Frank Chairman Jeffrey Gural, Assemblyman David Weprin, Rep. Bob Turner and Gristedes owner John Catsimatidis

The loser in New York City’s special election to replace former Democratic Rep. Anthony Weiner, Democratic Assemblyman David Weprin, had more high-profile supporters from the real estate community than Republican businessman Bob Turner, the winner, although Turner’s support picked up somewhat as the race became tighter and drew to a close, according to federal campaign finance filings.

While Weprin, who had initially led in polls for the race in the 9th Congressional District, received financial support from big names such as developer Larry Silverstein, real estate executive Jeffrey Gural and property owner William Rudin, Turner, who began showing higher poll numbers at the end August and in September, received support from Gristedes owner John Catsimatidis and developer Peter Kalikow. [more]

From left: Wharton Properties President Jeff Sutton; Marc Holliday, CEO of SL Green; Jeffrey Gural, chairman of commercial brokerage Newmark Knight Frank; 1552 Broadway and 1560 Broadway

SL Green Realty and joint venture partner Jeff Sutton have found a way to possibly triple the
retail space at the 15,000-square-foot 1552 Broadway in Times Square without
making the building any bigger.

Because constructing new floors at the landmarked commercial building is
severely regulated, they are going horizontal into neighboring 1560 Broadway,
a 17-story office building controlled by Newmark & Co. Real Estate, a property
landlord that is an affiliate of the commercial brokerage Newmark Knight
Frank.

SL Green and Sutton, president of Wharton Properties, closed on the
$136.55 million purchase of the four-story 1552 Broadway Aug. 19… [more]

Anthony Malkin, president of Malkin Holdings, said that he learned in the recent process of retrofitting his company’s Empire State Building that it’s not about the greening.

“I think we learned that in the end it’s not about the greening but about money and about returns,” Malkin said at last night’s YJP Real Estate Investment Summit 2011 (see photos above). “If you put a green waterfall in your lobby it’s not going to change the world but if you can provide a greater than 40 percent reduction in the use of energy and save your tenants money by being efficient that makes a difference.” — Marc Becker… [more]

From left: Jeffrey Gural of Newmark Knight Frank, Jeffrey Levine of Douglaston Development, David Weprin, Joe Sitt of Thor Equities and Frank Sciame, Jr. of F.J. Sciame Construction

Today, state Assemblyman David Weprin will get the nod from the
Democratic Party to run for Anthony Weiner’s old seat in Congress, which
he is expected to win.

And even though that seat, New York’s 9th, probably won’t be around for
long — population changes will likely force the state to phase it out in 2012
– some real estate executives are happy to have somebody they have close
ties to representing them in Washington, even for the short-term.

“He’s a good guy, and I don’t think the real estate industry has anything to
worry about,” said Jeffrey Gural, chairman of Newmark Knight Frank, who
contributed $2,000 to Weprin in 2010 for his assembly race, according to
campaign finance records…. [more]

Jeffrey Gural, chairman of commercial brokerage Newmark Knight Frank and owner of two racetracks in upstate New York as well as horse farms, was tapped last week by New Jersey Gov. Chris Christie to partner with fellow owner-operators to submit a multi-million dollar plan to lease the money-losing Meadowlands Racetrack and turn it around financially.

Gural, who is scheduled to meet today with state racing officials and his architect, has until March 31 to submit a proposal to take control of the track. If the plan is not accepted, Christie says the track will close April 1. Gural spoke to The Real Deal this week about steep cuts needed to improve the track’s finances and when gambling might come to the New Jersey racetrack…. [more]