Richard LeFrak & family
$2.6B
Born
Aug 29, 1945
Age
80
Source of Wealth
Real estate
Residence
New York, New York
Citizenship
United States
Marital Status
Married
Children
2
Education
Bachelor of Arts/Science, Amherst College; Doctor of Jurisprudence, Columbia University
- 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.
- 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.
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