The Closing: David Lichtenstein

The billionaire CEO on his rabbi father, soul-crushing cynics and buying Chagalls

David Lichtenstein (credit: Larry Ford)
David Lichtenstein (credit: Larry Ford)

From the September issue: David Lichtenstein is the CEO of the Lightstone Group, a Manhattan-based real estate firm with a $2 billion portfolio that includes 11,000 apartments and 3,200 hotel rooms nationwide. A Democratic donor and a self-made billionaire, Lichtenstein has had his share of ups and downs.

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In 2009, his Extended Stay hotel empire filed for bankruptcy and was ultimately overtaken by investors. But the firm — which Lichtenstein founded in 1988 — is currently developing several NYC hotels in partnership with Marriott International’s Moxy Hotels, including a 300-key property in the East Village and a 16-story conversion near Times Square. It’s also building 363 and 365 Bond Street, a 700-unit rental development in Gowanus. [more]