Howard Lorber to make $25M on hot dogs

Douglas Elliman chair will make big profit after Nathan's Famous shares soared

New York /
Mar.March 04, 2015 09:40 AM

They say there’s no better investment than New York City real estate. While Douglas Elliman chairman Howard Lorber probably agrees with that, he’d add something to that list: hot dogs.

Lorber, who is also the executive chairman of Nathan’s Famous, is earning $25 million from a special dividend, being issued after the hot dog company’s shares more than doubled over the last two years, according to Crain’s.

Lorber took his seat on the Nathan’s board in 1987. Most of the company’s success, however, started about eight years ago with the appointment of a new chief executive officer.

Since 2010, franchised Nathan’s locations have grown by a third. The purveyor of frankfurters now has more than 300 restaurants across 27 states and 10 countries, according to the website. The company — which has a market value of $370 million — made a net profit of $8 million and saw $80 million in revenue in the fiscal year that ended on March 31. [Crain’s] — Claire Moses


Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)
Douglas Elliman is coming to Texas
Douglas Elliman is coming to Texas
Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Tamir Shemesh (Getty Images, iStock)
Top broker Tamir Shemesh out at Douglas Elliman
Top broker Tamir Shemesh out at Douglas Elliman
Keller Williams' Lauren Balbuena and Compass CEO Robert Reffkin (Keller Williams, Getty/Illustration by The Real Deal)
Keller Williams NYC’s agent count bounced back while Compass’ growth slowed
Keller Williams NYC’s agent count bounced back while Compass’ growth slowed
Robert Reffkin, founder & ceo, Compass (Getty Images, iStock, Illustration by Kevin Cifuentes for The Real Deal)
Residential brokerage shares take a hit in first week of 2022 trading
Residential brokerage shares take a hit in first week of 2022 trading
Hockey goalie-turned-environmentalist scores another Aspen pad for $44.5M
Hockey goalie-turned-environmentalist scores another Aspen pad for $44.5M
Hockey goalie-turned-environmentalist scores another Aspen pad for $44.5M
Compass' Robert Reffkin, Diane Ramirez, former Warburg CEO Frederick Peters (Getty, iStock)
From IPOs to industry veteran exits: These are 2021’s biggest NYC brokerage stories
From IPOs to industry veteran exits: These are 2021’s biggest NYC brokerage stories
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...