NYC’s real estate billionaires


There’s a lot of money in real estate, as evidenced by all the New York City real estate titans who made the 2019 Forbes 400 list. Similar to last year, Blackstone Group chief Stephen Schwarzman topped the list with a net worth of $17.7 billion, a 36 percent increase from the year prior, putting him at No. 29 nationally. After Schwarzman was Related’s Stephen Ross, the developer behind the famed Hudson Yards Vessel, which opened in March of 2019; he came in at 66th place overall with a net worth of $7.6 billion. Rounding out the top three was Hartz Group CEO Leonard Stern with $4.8 billion.

Other real estate tycoons on the Forbes list include Sheldon Solow, who came in at 148th place with $4.6 billion; Richard Lefrak, who came in at 179th  place with $4.1 billion; and President Donald Trump with $3.1 billion, earning No.  275, among others.

Stephen Schwarzman

1. Stephen Schwarzman

Blackstone

$17.7B

2018–$13.0B

Stephen Schwarzman co-founded private equity firm Blackstone in 1985. The firm now has more than $545 billion in assets under management.

Stephen Ross

2. Stephen Ross

Related Companies

$7.6B

2018–$7.6B

Stephen Ross is the chair of Related Companies and principal owner of the Miami Dolphins. 

Leonard Stern

3. Leonard Stern

Hartz Group

$4.8B

2018–$4.8B

Leonard Stern is chair and CEO of Hartz Group, which owns several signature properties including 667 Madison Avenue and the Soho Grand Hotel. 

Sheldon Solow

4. Sheldon Solow

Solow Realty & Development

$4.6B

2018–$5.2B

Sheldon Solow is a veteran Manhattan real estate developer,
the CEO of Solow Realty & Development and an affiliated company, Solow Managment

Richard Lefrak

5. Richard Lefrak (TIE)

LeFrak Organization

$4.1B

2018–$6.0B

Richard LeFrak became CEO of the LeFrak Organization in 2003 and turned it into one of the largest developers in the New York area.

Jeff Sutton

5. Jeff Sutton (TIE)

Wharton Properties

$4.1B

2018–$4.3B

Jeff Sutton is a New York real estate developer and founder of Wharton Properties. He is known for pricey leases to high-end brands.

Jerry Speyer

7. Jerry Speyer

Tishman Speyer

$4.0B

2018–$4.0B

Jerry Speyer is the chair of Tishman Speyer, where his son, Rob, is CEO. Until 2015,
they were co-CEOs.

 
Ben Ashkenazy

8. Ben Ashkenazy

Ashkenazy Acquisition

$3.8B

2018–$4.0B

Ben Ashkenazy is the founder, CEO and majority owner of Ashkenazy Acquisition. He bought his first building at 17 years old.

 
Jonathan Gray

9. Jonathan Gray (TIE)

Ashkenazy Acquisition

$3.6B

2018–$2.9B

Jonathan Gray, the COO and
president of Blackstone,
is considered the successor to CEO Steven Schwarzman.

 
Charles Cohen

9. Charles Cohen (TIE)

Cohen Brothers Realty Corporation

$3.6B

2018–$2.9B

Charles Cohen is the president and CEO of Cohen Brothers Realty Corporation, the company founded by his family in the 1950s. 

 
Jane Goldman

11. Jane Goldman

Solil Management

$3.1B

2018–$3.1B

Jane Goldman heads up Solil Management along with her siblings Allan Goldman, Amy Goldman Fowler and Diane Kemper. 

 
donald-trump

12. Jane Goldman

$3.1B

2018–$3.1B

Donald Trump is the first billionaire ever to be elected president of the U.S. 

 
John Catsimatidis

13. John Catsimatidis (TIE)

Gristedes, Red Apple Group

$2.7B

2018–$3.1B

John Catsimatidis is the owner of the New York City supermarket chain Gristedes and CEO of the Red Apple Group, whose businesses include real estate development.

 
Mort Zuckerman

13. Mort Zuckerman (TIE)

Former CEO, Boston Properties

$2.7B

2018–$3.1B

Mort Zuckerman was chair of Boston Properties. He also owned several publications, including the Daily News.

 
David Walentas

15. David Walentas

Two Trees Management

$2.5B

2018–$2.4B

David Walentas is the founder of Two Trees Management, a firm that has had a lasting impact on the transformation of Dumbo and Williamsburg.

 

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