search

The Real Deal Logo

Trending

Housing deal finally passes; here are the detailsHousing deal finally passes; here are the details“I wouldn’t use it, I would just lock the door”: Landlords pan new rehab law“I wouldn’t use it, I would just lock the door”: Landlords pan new rehab lawHow Hochul played the “good cause eviction” game, and wonHow Hochul played the “good cause eviction” game, and wonCreditors demand WeWork consider Adam Neumann’s offerCreditors demand WeWork consider Adam Neumann’s offer
New York

Howard Lorber to make $25M on hot dogs

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

From left: Nathan's famous Hot Dogs and Howard Lorber
From left: Nathan's famous Hot Dogs and Howard Lorber

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.

Sign Up for the undefined Newsletter

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

Tags
Douglas EllimanHoward Lorber