New York City is known for its luxurious real estate but who are the elites that own these massive pieces of property? From buildings that house businesses to massive condominiums, owning property in New York is expensive yet valuable. Investors, developers, and just general real estate kingpins are making their living by owning and selling incredible NYC property.
Ranked number 65, on Forbes 400 ranking, Stephen Ross’ net worth is the highest of all of the real estate property owners of NYC with a net worth around $7.5 billion. Ross is a real estate developer, philanthropist and sports team owner. He is currently working on the biggest project of his career, the $25 billion investment of the Hudson Yards, a city within a city. This project’s’ goal is to essentially be the new heart of New York. This chairman and founder of Related Companies, says that the Hudson Yards will be the largest private-sector commercial and residential development in United States history.
Another developer, investor, and general real estate manager, Richard LeFrak took the 85th spot on the Forbes list with a net worth of $6.1 billion. He has recently been in the beginning stages of collaborating with President Trump to grow infrastructure in NYC. He is credited with leading his organization with their expansion and diversification of the greater New York City area, including parts of New Jersey.
Landing at number 115 on the Forbes 400 ranking, Sam Zell of Equity Group Investment has a net worth of $5.1 billion. Zell is not only invested in commercial real estate, he also has ties to energy, manufacturing, transportation, healthcare, and communications. He is also the chairman of many public companies such as Equity Residential and Equity LifeStyle Properties. Zell has his hand in various different markets of NYC, especially real estate.
Solow came in as number 140 on the Forbes 400 list with a fortune worth $4.7 billion. Not only does he own a building that is considered having the best view of Central Park, he is also an avid art collector. His extensive collections include modernist and renaissance pieces of art. He owns “Young Man Holding a Medallion” by Botticelli and paintings by Balthus and Franz Kline.