Jonathan Iger takes helm at William Kaufman Organization

Grandson of firm's late chief plans expansion through acquisitions

TRD New York /
Jun.June 27, 2016 11:11 AM

One of New York’s oldest real estate dynasties, the William Kaufman Organization, is now in the hands of the family’s fourth generation following the death of Robert Kaufman in February.

Kaufman’s 34-year-old grandson, Jonathan Iger, is now CEO of a family business with a portfolio spanning 3 million square feet and including six office towers, the Wall Street Journal reported.

Chief among Iger’s plans for the family company is to expand its holdings through acquisitions. He will also continue to renovate the firm’s portfolio — a $120 million investment that started in 2010.

Following Kaufman’s death, the top job did not go to one logical successor – son-in-law Mark Iger – who is a lawyer by trade but who said his legal experience is more focused on solving problems than devising new business ventures.

Meanwhile, Mark Iger’s son Jonathan had joined the company at his grandfather’s behest in 2010 and had been groomed for the position. Previously, the younger Iger started a firm to help new college graduates find New York City apartments, and then worked for a real estate investment firm.

“I realized there was no better person to learn from and how long would I have that opportunity?” Iger recalled, of his decision to join the family business six years ago.

William Kaufman launched the company in 1924 by scooping up rental buildings. After World War II, his sons Melvyn and Robert joined the firm and began developing office towers. Its first property was 711 Third Avenue, which SL Green Realty later purchased. Others include 77 Water Street and 747 Third Avenue. [WSJ]E.B. Solomont


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

SL Green puts Daily News building up for sale

SL Green puts Daily News building up for sale
SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at
One Vanderbilt

SL Green snags private-equity firm at
One Vanderbilt
SL Green’s locks in big bank lease at Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
One Vanderbilt with Steven Durels and Robert Schiffer (SL Green)

Inside SL Green’s One Vanderbilt, a test case for Midtown East

Inside SL Green’s One Vanderbilt, a test case for Midtown East
Restaurant owner Daniel Humm and Eleven Madison Park (Getty, Google Maps, City Foodsters via Wikipedia)

Eleven Madison Park works out deal with landlord to reopen

Eleven Madison Park works out deal with landlord to reopen
410 Tenth Avenue with SL Green’s Andrew Mathias and Marc Holliday (Google Maps; SL Green)

SL Green gets $600M construction loan for 410 Tenth Avenue

SL Green gets $600M construction loan for 410 Tenth Avenue
From left: Parking garages at 81 Fleet Place, 240 Riverside Boulevard and 1515 Broadway (Google Maps, iStock)

Landlords claim parking garages owe $7.5M

Landlords claim parking garages owe $7.5M
SL Green CEO Marc Holliday, 590 Fifth Avenue and Thor Equities CEO Joseph Sitt (Holliday via Grant Lamos IV/Getty Images; Google Maps)

SL Green moves to foreclose on Thor’s 590 Fifth Ave

SL Green moves to foreclose on Thor’s 590 Fifth Ave
arrow_forward_ios

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

Loading...