Richard LeFrak & family
#1426

Richard LeFrak & family

United States 80 years old

Overview

Source of Wealth
Real estate
Industry
Real Estate
Residence
New York, New York
Education
Amherst College (Bachelor of Arts/Science)
Columbia University (Doctor of Jurisprudence)
Marital Status
Married
Children
2

Assets

  • BankUnited Inc.
    0 shares @ -
    -
    BKU-US
  • Dorchester Minerals LP
    361,000 shares @ -
    -
    DMLP-US
  • Farmland Parnter
    0 shares @ -
    -
    FPI-US
  • Kennedy Wilson
    0 shares @ -
    -
    KW-US

Biography

Richard LeFrak became CEO of the LeFrak Organization in 2003 when his father Sam died.

The father-son team transformed the business, which started in France in 1883, into one of the largest real estate developers in the New York area.

Holdings include LeFrak City - a 20-building, 5,000-unit apartment complex in Queens - and hundreds of acres across from Manhattan to Newport, N.J.

Known for apartments for moderate-income tenants in the areas around New York City, LeFrak has recently been expanding into luxury and new markets.

LeFrak's biggest bet right now is SoLe Mia, a 184-acre mixed used project he's developing in North Miami.

An owner of rent-stabilized apartments in New York, LeFrak took a hit in June 2019 when state lawmakers made it harder for landlords to raise rents.

About

Sons Jamie and Harrison are being groomed to be the next generation of LeFraks to run the business.

A large investment portfolio includes stakes in customer relationship management startup Affinity, skincare brand Fig.1 and storage firm MakeSpace.