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THE POWER

The Most Powerful People in New York Real Estate 0 wo years ago, in the months before the fall of Lehman Broth- nette Sadik-Khan (No. 95). ers, when New York's economic lily was still contentedly As usual, the list remains arctic white and terminally male. (How does this keep hap- gilded, crafting a list of real estate's biggest machers was pening in the world's most diverse city? Even the suites of Wall Street—and of the White pretty easy: Moguls X, Y and Z had done deals A, B and C, and House—claim more diversity.) There are 12 women—the most ever—with CBRE tristate z the business of real estate ticked along. chief and REBNY chair Mary Ann Tighe the highest ranked at No. 7, and the chair of City f, Then came the bust, and the list was notable more for who Planning, Amanda Burden, in a distant second at No. 34. Nonwhites? Governor Paterson a w had fallen off than for who had stayed on. Last year's tally (No. 55), who, dear reader, will likely not make it next year, and Korean-American devel- LT, .. was demaicated by government—President Obama was No. oper Young Woo (No. 94)—and that's just about it. z 1—and by those adapting to survive. The phrase "money on Brokers, the middlemen (and, on occasion, middlewomen) of the city's deals, are less as the sidelines" made numerous appearances. represented than landlords and investors—there has just been less work to go around. z o This year, the list, like the industry it chronicles, is very much in motion. Pinning Brokerages themselves are amply represented, in the form of their chief executives or

down who is up, if anybody, and who is down the most changes by the day. This repre- chairs. These include residential ones like Pam Liebman (No. 66) of the Corcoran Group; : sentsrir our take on the most powerful people in New York real estate right now. Howard Lorber and Dottie Herman (No. 63) of Prudential Douglas Elliman; and an en- `• And yet about three-fourths of the people here are returnees, which says something gorging number on the commercial side, including the boys from Newmark Knight iL j about the closed club that is New York real estate. Old money is heavily represented, Frank (No. 26), Peter Riguardi from Jones Lang LaSalle (No. 27) and Mitchell Steir and able as it has been to weather the recession—even when it has botched deals epically, Michael Colacino from Studley (No. 28). such as Jerry and Rob Speyer (No. 11) with Stuy Town. The Speyers join old money like Institutionally, the same names showed up as in previous years, such as Lee Bollinger Douglas and Jody Durst (No. 8); Richard LeFrak (No.10); Peter and Anthony Malkin (No. (No. 90) of Columbia; John Sexton (No. 78) of N.Y.U.; Timothy Dolan (No. 76) of the Ro- 18); Howard and Edward Milstein (No. 38); and Bill Rudin (No. 24). man Catholic Archdiocese; and James Cooper (No. 79), the Episcopalian rector of Hud- LT1.,„ There are new people. Carlos Slim—according to some, the world's richest person— son Square-controlling Trinity Church. =0 2 clocks an appearance (No. 13), having just made a sudden splash in the biz. Another for- The No. 1 spot, supplanting the president, belongs to Stephen Ross, chairman of Re- eigner with billions to immolate: Mihkail Prokorov (No. 43), erstwhile Nets owner and lated Companies. His firm seems to be everywhere about New York, particularly on the z z would-be Nets arena developer. And, speaking of Stuy Town and the Speyers, Charles far West Side. There are train tracks there now, slightly below ground level, in an area Spetka (No. 32) chairs the distress-hungry firm overseeing that most historic of foreclo- to be avoided after dark—or in broadest daylight. But Mr. Ross envisions 13 towers on „ sures. Also, welcome media enthusiast Sam Zell (No.19), reluctant heir Stefan Solow (No. two platforms producing 5,000 apartments and 6 million square feet of office and retail 56), M.T.A. chairman Jay Walder (No. 64) and Israeli magnate Nochi Dankner (No. 88). space—a city within a city, 50 percent bigger than Rockefeller Center. While Mr. Obama did not make the list this year, government is represented fairly That's some change right there. Vision, too. strongly, with perennial flower Michael Bloomberg hitting the top 10 again. Looming A final few notes on the list. There are 138 names amid the 100 slots. Of those, more o w six spots behind him is probably the soon-to-be most influential public figure in New than 25 percent are new; the rest are returnees. If someone made the list last year, that "X5am York State: Andrew Cuomo (No. 15). Other apparatchiks and pols include Deputy Mayor ranking is next to their entry in parentheses. The list was chosen by The Observer, and is Robert Lieber and Economic Development Corp. president Seth Pinsky (together at No. subjective. Feedback can be given in the comments section of Observer.com. 73); Parks Commissioner Adrian Benepe (No. 87); and Transportation Commissioner Ja- Discuss. S" 9

26 May 11, 2010 OBSERVER.COM I THE COMMERCIAL OBSERVER David (pictured) and Peter Ward 82 Jed 85 President of the Hotel & Motel Walentas (72) Trades Council Founder and vice president, respectively, of Two Trees Management In the past few years, Mr. Ward The tumble- has built up a weed-tossing political John Wayne powerhouse of who decided a union. With Dumbo was his political dandy is still in director, Neal the saddle. Kwatra, he has With the most spearheaded expensive numerous actions that bring down condo sale in barriers to the unionization of Brooklyn ($8.5 million at One hotels, most recently through a Brooklyn Bridge Park); Jay-Z and clause added to public authorities Ralph Lauren rumored as house legislation that passed last year. hunters at the moguls' $25 million penthouse clock tower listing—by far the borough's priciest—and last year's legal victory regarding the Veronica Mainetti controversial Dock Street construc- tion, the wily Walentases seem 86 U.S. Activities head for the primed to ride out the storm. Sorgente Group Don't let her emerald-green Hall Willkie (84) eyes or her age fool you. At 31, 83 President of Brown Harris Ms. Mainetti has Stevens enough real estate savvy to The boutique-style firm crafts a fill the shoes of carefully honed reputation for dis- dozens of her cretion and class, garnering some aging male of the glossiest, most privacy-de- competitors. Her seven-unit Soho manding and largest listings, from condo 34 Greene Street is now on the Gold Coast co-ops to Georgian bow- market, and Sorgente acquired the front townhouses. The firm contin- Flatiron Building last year. Plus! ues to add brokers, supplementing Rumors are afoot that the group's out last year's assumption of Edward to buy the Woolworth Building, too. Lee Cave's boutique. Mr. Willkie recently confessed, "I'm elated be- cause a year ago I never thought we could come to this level so quickly." Adrian Benepe (99) 87 Parks commissioner

Josetrasb Despite the Tavern on the the Reuntrg (63) Green hullaba- Stabilization Association of New York loo and budget-cut In 2008, the crises (Hudson Democrats River Park), recaptured the this biker boy 452 Fifth Avenue for $330 million— estate, and there's nothing boring of m State Senate keeps green cash. It's very likely Mr. Dankner's about that. With her sales coup at oper after decades in space on the first major foray into New York real the Apthorp (she had to find 25 grad the minority. brain, stalwartly forging ahead with estate, though likely not the last. buyers in a pinch) and continued City landlords the mayor's P1aNYC project, which With a corporate CV too long to list boldface listings, no one is saying burst into plans to have all New Yorkers living here, he has mammoth capital—and "Goodbye, Dolly" just yet. sweat beads. within 10 minutes of a park by 2030. access to more—to sink into Would tenant With the weather warming and similarly 2007-like deals. 9 activists finally get the decidedly Brooklyn Bridge Park heralded as aging landlord-unfriendly changes to city "the most important public space of Lee Bollinger (57) rent regulations that they'd fought the century," Mr. Benepe is in the 9 for forever? Mr. Strasburg sprung spotlight, or sunlight, rather. President of Columbia Forg into action. As the landlords' top University the representative in Albany, he pushed 89-Vice chairman (89) of Prudential Park back against the activists. For now, Douglas Elliman Affectionately over it looks like he won; regulation called "Prezbo" DA( changes are dead in the political Ms. Lenz's by students, Mr. nan water. 88 Owner, chairman and CEO of winning Bollinger has a Relh IDB Group Elliman's top full schedule. the I sales award is On June 1, the mad The investment about as Court of tion, magnate blew surprising as Appeals will $22 into town from Tiki Barber's make a decision 720 Ben Gurion last cheating: It's on the use of Bud October in a getting to be a eminent domain for Columbia's Dell big, big way: bore. But the 17-acre West Harlem expansion; His firm agreed super-agent, who claims, "It's not and, this fall, the controversial to buy the work; it's a passion," has sold more Rafael Moneo-designed science HSBC tower at than $7 billion in New York real center, which incidentally cost lots

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