Richard LeFrak explained
Richard S. LeFrak (born 1945) is an American billionaire businessman. He is chairman and CEO of LeFrak, a privately held, family-run company based in New York City that owns, develops, and manages real estate. He is one of the biggest landlords in the New York tri-state area.[1]
Early life and education
LeFrak was born in 1945 to a Jewish family[2] in New York City, one of four children of Ethel Stone and real estate developer Samuel J. LeFrak.[3] [4] LeFrak received a B.A. and graduated cum laude from Amherst College. LeFrak also holds a J.D. from Columbia University. In 1998, LeFrak received an honorary doctorate degree from Amherst College.[5]
Career
LeFrak joined his family's real estate firm, LeFrak, in 1968. In 1975 he was appointed president. In 2003, he was elected chairman and CEO following the death of his father, Samuel J. LeFrak.[5] In 1986 LeFrak and his father began building in Jersey City, New Jersey on the site of abandoned piers and rail yards. The area is now known as Newport, a 600-acre neighborhood with 8 office buildings, 13 apartment towers, 2 hotels, an urban beach, schools, a retail mall, and parks.[6] [7]
LeFrak is also credited with leading the LeFrak organization's expansion and diversification outside of the New York area. In 2008 the company purchased a 12-story office building on Hollywood Boulevard as well as a medical building in Beverly Hills, California.[8] In 2012 LeFrak purchased a stake in a South Beach, Miami luxury mixed-use property, including a hotel formerly known as the Gansevoort.[9] The project is expected to open in early 2014 as the eco-minded 1 Hotel Homes.[10] [11]
LeFrak was ranked #16 on the Commercial Observers Real Estate Power 100 in 2013,[12] # 20 in 2012,[13] #20 in 2011,[14] #10 in 2010,[15] #18 in 2009,[16] and #64 in 2008.[17]
Boards
LeFrak currently sits on the board of directors of the Prostate Cancer Foundation and is a member of the board of trustees of the American Museum of Natural History.[18] From 1995 to 2007, he was a board member of Smith & Wollensky. Previously, he served on the board of trustees of Amherst College and Trinity School; was a member of the New York State Banking Board; and served as director of BankUnited, Florida for four years.[19]
Philanthropy
LeFrak presides over the Richard S. and Karen LeFrak Charitable Foundation, a private charity whose mission includes the support of charitable organizations.[20] [21]
Harrison has sat on the Board of Trustees of New York-Presbyterian Hospital since 2016.[22]
Controversy
In 2017, St. Joseph's Chapel, the Catholic September 11 Memorial at the World Trade Center, located in the Gateway Plaza in Battery Park City, was threatened with closure due to the St. Peter's parish's reluctance or inability to pay a tripling of its rent by a management company run by LeFrak corporation and partners.[23] [24]
Personal life
He is married to Karen Tucker,[25] a children's author.[26] They live in New York and Southampton. They have two sons:
- James "Jamie" Tucker LeFrak (born 1973) - vice-chairman and managing director of LeFrak.[27] In 2009, he married Susan Caroline Bierbaum.[28]
- Harrison "Harry" Tucker LeFrak (born 1971) - vice-chairman and managing director of LeFrak.[29]
Politics
LeFrak contributed $100,000 to Donald Trump's 2020 presidential campaign.[30] LeFrak had previously called Trump, a fellow real-estate developer, "a dear friend".[31]
Notes and References
- Web site: Forbes profile: Richard LeFrak . Forbes . 8 January 2020.
- http://www.jpost.com/JewishWorld/JewishFeatures/Article.aspx?id=187430 Jerusalem Post: "The world's 50 Richest Jews: 41-50 Richard LeFrak"
- https://www.nytimes.com/2003/04/18/classified/paid-notice-deaths-lefrak-samuel-j.html?pagewanted=all&src=pm New York Times: "Paid Notice: Deaths LEFRAK, SAMUEL J."
- https://www.nytimes.com/2003/04/17/nyregion/samuel-j-lefrak-master-of-mass-housing-dies-at-85.html?pagewanted=all&src=pm New York Times: "Samuel J. LeFrak, Master of Mass Housing, Dies at 85" By ALAN S. OSER
- http://www3.amherst.edu/magazine/issues/05fall/college_row/trustees.html Amherst Magazine: "Three new trustees join Amherst College board "
- https://www.nytimes.com/2012/05/01/nyregion/for-newport-in-jersey-city-last-phase-of-development-begins.html?_r=4& New York Times: "Jersey City Development, Begun in ’86, Enters Final Phase" By Charles V. Bagli
- http://therealdeal.com/blog/2012/05/03/lefrak-christie-open-nj-waterfront-park/ The Real Deal: "LeFrak, Christie open NJ waterfront park" By Adam Fusfeld
- https://web.archive.org/web/20120817080309/http://www.businessweek.com/stories/2008-08-27/lefraks-sudden-craving-for-l-dot-a-dot-real-estate Bloomberg Businessweek: "LeFraks' Sudden Craving For L.A. Real Estate" By Christopher Palmeri
- http://www.hospitalitynet.org/news/4054704.html Hospitalitynet: "Gansevoort Miami SOuth Beach Purchased by Starwood Capital Group, LeFrak Organization and Invesco"
- http://www.miamiherald.com/2013/02/06/3221163/former-gansevoort-to-relaunch.html Miami Herald: "Former Gansevoort to relaunch as eco-focused 1 Hotel" By Hannah Sampson
- http://1hotels.com/southbeach/ One Hotels & Homes South Beach Website
- http://commercialobserver.com/power-100/the-power-100-slideshow/ Commercial Observer: "The Sixth Annual Power 100"
- http://commercialobserver.com/2012/05/real-estate-power-100/#slide79 Commercial Observer: "The 2012 Real Estate Power 100"
- http://observer.com/2011/05/the-100-most-powerful-people-in-new-york-real-estate-2/ Commercial Observer: "The 100 Most Powerful People in New York Real Estate"
- http://observer.com/2010/05/power-100-the-most-powerful-people-in-new-york-real-estate/ Commercial Observer: "Power 100: The Most Powerful People in New York Real Estate"
- http://observer.com/2009/06/the-power-100-the-most-powerful-people-in-new-york-real-estate/#slide19 Commercial Observer: "The Power 100: The Most Powerful People in New York Real Estate"
- http://observer.com/2008/05/the-100-most-powerful-people-in-new-york-real-estate/5/ Commercial Observer: "The 100 Most Powerful People in New York Real Estate"
- http://www.amnh.org/about-us/board-of-trustees American Museum of Natural History: "Board of Trustees"
- News: S. Florida public knows many of these 25 wealthiest . . G20 . 2014-10-13 . 2024-06-19 . Newspapers.com.
- http://www.amnh.org/explore/news-blogs/news-posts/gift-from-lefrak-charitable-foundation-supports-nyc-school-visits American Museum of Natural History: "Gift from LeFrak Charitable Foundation Supports NYC School Visits"
- http://nyp.org/news/hospital/lefrak-robotic-surgery.html New York Presbyterian: "$3 Million Gift Establishes LeFrak Center for Robotic Surgery"
- Web site: Hospital Leadership - Board of Trustees. New York Presbyterian. 7 July 2019.
- https://nypost.com/2017/04/09/chapel-that-served-911-first-responders-could-shutter/ "Chapel that served 9/11 first responders could shutter"
- https://www.nytimes.com/2017/04/18/nyregion/st-josephs-chapel-sept-11-attacks.html "Chapel That Survived Sept. 11 Attacks May Not Survive Rent Increase"
- https://www.nytimes.com/2002/08/28/classified/paid-notice-deaths-tucker-pauline.html New York Times: "Paid Notice: Deaths TUCKER, PAULINE"
- http://www.karenlefrak.com/about-karen/index.php Karen LeFrak website
- http://investing.businessweek.com/research/stocks/private/person.asp?personId=44267367 Businessweek: James LeFrak
- https://www.nytimes.com/2009/10/18/fashion/weddings/18BIERBAUM.html?gwh=7FEE1706DA94B0AFE54098A2C375F809 New York Times: "Caroline Bierbaum, James LeFrak"
- http://investing.businessweek.com/research/stocks/private/person.asp?personId=44266998&privcapId=184021&previousCapId=184021&previousTitle=LeFrak%20Organization%20Inc. Businessweek: Harrison LeFrak
- Web site: Here Are The Billionaires Who Donated To Donald Trump's 2020 Presidential Campaign . Forbes . 28 March 2024.
- News: O'Brien. Timothy L.. Dash. Eric. 2004-03-28. Is Trump Headed for a Fall?. en-US. The New York Times. 2020-04-30. 0362-4331.
