Adam Rose leaves real estate for jazz
He stepped into a vice chairman role at his family firm, Rose Associates, in 2017
Adam Rose will be singing to a different, jazzy tune in 2020.
Roughly two years after he stepped down as co-president of Rose Associates to serve as vice chairman, Rose will be retiring for good on Feb. 1, the company announced. The former executive, who’s 60 years old, said he will be spending his time “on philanthropy and jazz including my own jazz piano playing.”
Rose Associates is a residential developer and operator founded in the 1920s. The company claims to have over 14,000 units under management in New York City and has developed over $2 billion in projects over the past five years. Rose was at the helm of the apartment and hotel conversion of 70 Pine in the Financial District, and 252 East 57th Street, which was developed with World Wide Group.
Rose joined the family company in 1983 and later led the firm with his cousin, Amy, as co-presidents until late 2017, when he became vice chairman and Amy became the company’s first CEO.
At the time, Rose gave an interview to the New York Post that seemed to indicate timing had an impact on his decision.
Speaking of 70 Pine and 252 East 57th Street, which both took five years to finish, he said, “They’re both coming out great, but I don’t want to take five years any more to do anything.”
He added that in the same period, “Amy cranked out five gorgeous new buildings. It’s time for her to be CEO and president.” She will continue to lead the firm.
“I’ve truly enjoyed the decades Adam and I shared working side-by-side,” Amy Rose wrote in a statement. “I am very pleased that he will now have time to fully pursue his non-real estate endeavors.”
Rose was unavailable to comment on whether he’ll be giving any musical performances in the near future.