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New York

Murray Hill Properties co-founder says 450 Lexington could be his one regret


Norman Sturner and 450 Lexington Avenue (building photo source: PropertyShark)

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Over
the last six years, Murray Hill Properties has grown in prominence and
now runs $265 million worth of high net-worth real estate funds,
co-founder Norman Sturner
told the Observer. Sturner built his business in 1971 together with
Neil Sidrow, and they have bought and sold over 150 buildings in the
last 40 years. “If I ever had seller’s remorse, it was one property:
450 Lexington Avenue,” Sturner told the Observer. He also just
completed capitalization at 1412 Broadway and approved two leases
there, both in excess of $40 a foot. Sturner believes that persistence
plays a crucial role in success. “The ability to keep your focus on
what it is that you want is extremely important, and it doesn’t matter
whether you’re a broker, an investment sales owner, a property owner or
anyone,” he said.”If you think you’re right, do it. Don’t let go. Do
not go quietly into the night.” [NYO]

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