The Real Deal New York

LeFrak, Ross and Stern among wealthiest U.S. developers

New York City's top real estate tycoons valued upwards of $20 billion
March 03, 2014 05:15PM

Top dogs in New York City real estate made a strong showing in a recent roundup of the world’s wealthiest billionaires.

Topping a list in which 29 real estate heavyweights made an appearance is Donald Bren, the founder of the Irvine Company, who was valued by Forbes as the word’s 69th wealthiest person with a net worth of $14.4 billion as of this month. Bren’s portfolio covers both commercial and real estate property in lucrative West Coast property markets like Orange County, San Diego, Los Angeles and Silicon Valley. His firms also control the Hyatt Center and a portion of the UBS Tower in Chicago.

New York City-based developer Richard LeFrak was listed as the next biggest real estate billionaire, whose portfolio of dozens of New York and New Jersey properties, combined with estates in California and Washington state, bring his worth to $6.1 billion, up from Forbes’ estimate in January at $5.6 billion. He’s best known for LeFrak City, the 5,000-unit apartment complex he built in Queens, as well as the 16 million square feet of commercial, residential and retail spaces he owns in Newport.

Other New York City real estate billionaires include Stephen Ross, founder of the Related Companies and valued at $5.4 billion; Leonard Stern, valued at $4.2 billion; and Donald Trump, valued at $3.9 billion. [Forbes]Angela Hunt

  • Anonymous

    Jeff Sutton as well

    • networth

      They put him at 2.7 Billions. I know for a fact Ben Ashkenazy is close to 1.3 Billions. Steve Witkoff is close and Schron is a billionaire.

    • Anonymous as well

      Forbes had him at 2 billion in October. Real Deal at 2.7 billion five months later. I doubt he made 700 million in net worth in 5 months. These numbers flying around seem like a joke and unverified. People will believe anything……..

      • trueman

        I think that Jeff evaluation is exaggerated.we can t deny that.for.example.717 fifth is worth over 700 Mill. But 2.7 is.a.big deal.What about.Joseph Chetrit?David Walentas 1.5 Bill

      • Anonymous

        Maybe Forbes had the wrong figures back in October and Sutton went to them and verified he was worth more…

        • Anonymous as well

          And maybe your Jeff Sutton and mad your not in the article. Guess we will never know…..

          • Anonymous

            I’m sure Sutton doesn’t mind not being in the article. I’m not him, I wish I had his net worth though!

  • jake

    Donald Bren is the king of real estate development. The only person that could of come close was the late highly respectable Trammel Crow. No other developers including the NY ones even come close to those two.

  • Tim

    Hard to believe trump is worth even 1billion. He’s busy spending everyone elses money.

    • moneyguy

      Trump made it. Sitt is buying with billions from investors. Despite all the noise, he is not like Sutton. I can t believe Ross is not worth at least 6 Billn