GFP Real Estate, LLC
| GFPRE Logo | |
| Private | |
| ISIN | 🆔 |
| Industry | Real estate development |
| Founded 📆 | 1952 |
| Founder 👔 | Aaron Gural |
| Headquarters 🏙️ | 125 Park Avenue, Manhattan, New York City , U.S. |
Area served 🗺️ | New York metropolitan area |
Key people | Jeffrey Gural, Chairman Eric Gural, Co-CEO Brian Steinwurtzel, Co-CEO |
| Members | |
Number of employees | 200+ |
| 🌐 Website | gfpre |
| 📇 Address | |
| 📞 telephone | |
GFP Real Estate (GFPRE) is a family-held real estate development, investment and management firm based in New York City. The original entity founded in 1952 by Aaron Gural, GFP Real Estate is the rebranded name for Newmark Holdings, which owned Newmark Group before it went public in 2017[1][2].
Now as GFPRE, the private company continues to acquire, develop and manage commercial office and mixed-use space including studios, showrooms, residential, retail and bioscience properties[3]. GFP Real Estate's Chairman Jeffrey Gural, formerly Chairman of Newmark Group, consistently ranks in the Top 100 of the commercial real estate industry's most influential.[4][5][6][7][8]
The company is headquartered at 125 Park Avenue in Manhattan, New York City.[9]
Company Portfolio
GFP Real Estate is one of the top developers[10] within New York City real estate with a combined owned and managed portfolio of more than 75 buildings and 16 million square feet[11]. Over the period from 2016 through 2019, the firm acquired 10 properties comprising more than 2.7 million square feet and valued at over $1.3 billion.[11]
The company owns a number of New York landmarks[1] including:
- Flatiron Building at 175 Fifth Avenue. Established joint stakeholding with Sorgente Group[12][13][14]
- Film Center Building at 630 Ninth Avenue[15]
- Actors' Equity Building at 1560 Broadway[1]
- The New York Market Center at 230 Fifth Avenue
- Merchants Square Building at 40 Worth Street[16]
- 40 Exchange Place
- Guardian Life Building at 7 Hanover Square[17][18][19], now 100 Pearl Street[19]
- DuMont Building at 515 Madison Avenue[1]
- 675 Avenue of the Americas. Acquired ground lease for $89 million.[20]
History
Aaron Gural, the GFP Real Estate founder who was noted by the New York Times as "visionary", shared back in 1981, foreseeing the development of Manhattan West: "You don’t need decrepit industrial lots in the heart of Manhattan. There ought to be showrooms for the garment industry around 10th Avenue, and apartments and hotels overlooking the boats on the Hudson River."[21]
Jeffrey Gural was CEO from 1978 until 2017, when Brian Steinwurtzel and Eric Gural stepped up to lead as co-CEOs. Jeffrey Gural remains as Chairman.[22]
External links
- Official website
- 100 Pearl Street formerly 7 Hanover Square
- 40 Exchange Place
- 43-01 22nd Street, LIC
- N6 Lofts, Brooklyn
- 150 Bay Street, NJ
References
- ↑ 1.0 1.1 1.2 1.3 Brenzel, Kathryn (October 2, 2017). "Jeff Gural steps down as chairman of Newmark Knight Frank". The Real Deal. Retrieved June 24, 2019.
- ↑ Jordan, John (June 24, 2019). "To End Confusion, Newmark Holdings Changes Name". Law.com, archived on LexisNexis. Retrieved June 24, 2019.
- ↑ Bockmann, Rich (November 20, 2018). "Gural family's GFP planning $240M biotech center in Long Island City". The Real Deal. Retrieved June 24, 2019.
- ↑ The Editors (April 29, 2015). "The Power 100: Commercial Real Estate's Most Powerful Players (2015)". Commercial Observer. Retrieved July 19, 2019.CS1 maint: Extra text: authors list (link)
- ↑ The Editors (April 20, 2016). "The Power 100: Commercial Real Estate's Most Powerful Players (2016)". Commercial Observer. Retrieved July 19, 2019.CS1 maint: Extra text: authors list (link)
- ↑ The Editors (April 26, 2017). "The Power 100: Commercial Real Estate's Most Powerful Players (2017)". Commercial Observer. Retrieved July 19, 2019.CS1 maint: Extra text: authors list (link)
- ↑ The Editors (April 25, 2018). "The Power 100: Commercial Real Estate's Most Powerful Players (2018)". Commercial Observer. Retrieved July 19, 2019.CS1 maint: Extra text: authors list (link)
- ↑ The Editors (April 23, 2019). "The Power 100: Commercial Real Estate's Most Powerful Players (2019)". Commercial Observer. Retrieved June 24, 2019.CS1 maint: Extra text: authors list (link)
- ↑ "GFP Real Estate LLC". Bloomberg. Retrieved July 19, 2019.
- ↑ The Editors (November 6, 2018). "Owners Magazine 2018: Talking Shop With NYC's Top Landlords and Developers". Commercial Observer. Retrieved July 19, 2019.CS1 maint: Extra text: authors list (link)
- ↑ 11.0 11.1 Kalinoski, Gail (May 24, 2019). "GFP Buys Historic Manhattan Office Asset for $89M". Commercial Property Executive. Retrieved June 24, 2019.
- ↑ Margolies, Jane (June 28, 2019). "End of an Era for the Flatiron Building". New York Times. Retrieved Feb 14, 2020.
- ↑ Evans, Judith; Chaffin, Joshua (January 23, 2019). "Knotel poised to lease Flatiron building for shared-office sector". Financial Times. Retrieved June 24, 2019.
- ↑ Grossman, Matt (June 14, 2019). "Flatiron Building Empties Out as Owners Embark on Gut Renovation". Commercial Observer. Retrieved Feb 14, 2020.
- ↑ REW (October 25, 2017). "GFP refinances Film Center Building with $75M loan". Real Estate Weekly. Retrieved June 24, 2019.
- ↑ "Merchants Square Building at 40 Worth Street". Retrieved June 24, 2019.
- ↑ Rothstein, Matthew (January 17, 2018). "GFP Real Estate Buying FiDi Office Building For $310M In First Big Deal Since Name Change". Bisnow. Retrieved June 24, 2019.
- ↑ Chadha, Janaki (January 23, 2019). "POLITICO New York Real Estate: Potential SL Green sale". Politico. Retrieved June 24, 2019.
- ↑ 19.0 19.1 Bockmann, Rich (January 22, 2019). "GFP, Northwind seek new equity partner for FiDi office overhaul". The Real Deal. Retrieved June 24, 2019.
- ↑ Grossman, Matt (May 22, 2019). "GFP Takes Over Major Avenue of the Americas Ground Lease for $89 Million". Commercial Observer. Retrieved June 24, 2019.
- ↑ Hevesi, Dennis (March 13, 2009). "Aaron Gural, Real Estate Executive, Dies at 91. A version of this article appears in print on , on Page A18 of the New York edition with the headline: Aaron Gural Dead at 91; A Real Estate Visionary". The New York Times. Retrieved June 24, 2019.
- ↑ Elkies Scram, Lauren (August 17, 2016). "Inheriting a Great Real Estate Empire Is More Complicated Than It Looks". Commercial Observer. Retrieved June 24, 2019.
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