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RELATIVE POWER: A look at 14 of the city's most influential and newsworthy clans.

Authors :
Hughes, C. J.
Source :
Crain's New York Business; 1/22/2024, Vol. 40 Issue 3, p18-18, 1p
Publication Year :
2024

Abstract

New York City is home to a network of influential and newsworthy real estate families, whose control over vast portions of the city's landscape rivals that of longstanding institutions like Trinity Church and Columbia University. These families, which include the LeFraks, Rudins, and Dursts, often operate under the radar, with their power and reach extending into politics. Crain's New York Business has profiled 14 of these prominent families, chronicling their rise, business deals, and challenges. However, determining the exact ownership of these real estate empires can be difficult due to their private nature and the use of limited liability companies. These families have a major impact on the city, not only through their financial contributions but also through their involvement in civic life, such as supporting museums and maintaining city parks. While other cities have real estate investment trusts controlling properties, New York's high degree of family control sets it apart. [Extracted from the article]

Details

Language :
English
ISSN :
8756789X
Volume :
40
Issue :
3
Database :
Supplemental Index
Journal :
Crain's New York Business
Publication Type :
Periodical
Accession number :
175019369