Stan Gale
Stanley C. Gale (Stan Gale, born September 6, 1950) is an American businessman. Gale is the chairman of Gale International, headquartered in New York, and serves as Chairman and CEO of New Songdo International City Limited Liability Company (NSIC), which owns and leads the development of the $35 billion Songdo International Business District (Songdo IBD) project in South Korea. Together with other notable New York-based real estate families, Gale was listed in Bisnow’s “NYC's 10 Oldest Surviving Commercial Real Estate Dynasties.”[1][2]
Career[edit]
Early days[edit]
Stan Gale was born in Huntington, New York to a family of real estate industry leaders, beginning with his grandfather Daniel Isaac Gale, who founded Daniel Gale Agency in 1922. Stan Gale graduated from Cold Spring Harbor High School in 1968. After completing his Bachelor's and Master's degrees in economics at Rollins College in 1972 and 1973, Gale founded the Gale Company in 1985, which focused on commercial development and investment. The Gale Company developed more than $ 1 billion in commercial real estate with JP Morgan and MSREF (Morgan Stanley Real Estate Fund). In 2000, The Gale Company developed One Lincoln Street, a $350 million multipurpose building in Boston, which was sold for $700 million a year later, in what was then the largest commercial real estate transaction in Boston's history to date.
Over the span of 20 years, The Gale Company became one of the largest commercial development firms in the United States, assembling a portfolio exceeding 60 million square feet.
In 2006 Stan realigned his domestic portfolio, selling the Gale Real Estate Services Company operations to Mack-Cali Realty Corp. for more than $500 million in order to expand his vision globally with his newly established company, Gale International. Among its notable projects are the 21W20 residential condominium in New York City’s Flatiron District; the Campus at Greenhill, a 300,000 SF Class A office complex on 104 acres in the heart of central Connecticut’s I-91 corridor; and Songdo IBD, the $35 billion, 100 million square foot city-scale development in South Korea.
In 2002, at the request of the Korean government, Gale established New Songdo International City Limited Liability Company (NSIC), in a 70/30 partnership with Posco Engineering and Construction.[3]
Development in Songdo[edit]
NSIC is responsible for the development of Songdo International Business District (Songdo IBD), which comprise the 1, 3 and 2, 4 districts in Songdo. Songdo City is 53.3 ㎢, approximately 18 times larger than Yeouido in Seoul. Approximately $ 20 billion (24 trillion KRW) has been invested to date, and the project is in progress.[4]
Songdo IBD’s construction began in 2004, with initial milestones including Songdo Central Park, Convensia, Sheraton Hotel, Chadwick International School Songdo, and Jack Nicklaus Golf Club Korea (all completed in 2009-2010 timeframe).[5] Jack Nicklaus Golf Club Korea hosted the PGA TOUR’s Presidents Cup 2015, marking the tournament’s first edition to be held in Asia. In recognition of his efforts in bringing the Green Climate Fund to Songdo—in his capacity as a member of the Korea Committee for the GCF—Gale was awarded honorary citizenship by Incheon Metropolitan City in November 2012 and a presidential citation in 2013.[6]
Brief Career[edit]
1974-1977 Manager at Daniel Gale Agency
1978-1985 Grubb & Ellis Commercial Brokerage Group
1985 President of the Northeast Region of Sammis Company
1991 Founder and President of the Gale Company
1994 Nonexecutive Director of Park Avenue Foundation, N.J.
2002 President and CEO of the New Songdo International City Limited Liability Company
2004 Nonexecutive Director of The Korea Society
2006 Operating Committee of the U.S.-Korean Business Conference
2012 Korea Committee for the Green Climate Fund (GCF)
2015 Organizing Committee for the Presidents Cup 2015
Awards[edit]
1992 Developer of the Year, NAIOP (National Association of Industrial and Office Parks)
1993 Entrepreneur of the Year, Inc. Magazine
1994 Blue Chip Enterprise Award, the Board of Trade & Nation's Business
1996 100 greatest businessmen in New Jersey, Business News
1997 Award for Business and Community Services, Rollins College
1999 Morgan Stanley's real estate fund entrepreneur of the year.
2005 Humanist of the Year, UJA New York Chapter
2011 Newsmaker of the Year, Engineering New Records
2012 Incheon Metropolitan City Hall Honorary Citizen Award
2013 Korean President's Award, for hosting GCF
2016 Achievement Award Huntington Hospital 100 Anniversary
References[edit]
- ↑ "국정원, 여당 의원 잇단 접촉". weekly.chosun.com (in 한국어). Retrieved 2018-08-10.
- ↑ "https://www.bisnow.com/new-york/news/state-of-market/from-rockefeller-to-trump-a-history-lesson-about-nycs-oldest-real-estate-families-48606#0". www.bisnow.com. Retrieved 2018-08-10. External link in
|title=(help) - ↑ www.etnews.com (2012-05-07). "[스타트업이 미래다]스탠 게일 회장은". 대한민국 IT포털의 중심! 이티뉴스 (in 한국어). Retrieved 2018-08-10.
- ↑ "[세계의 CEO] 스탠리 게일 더 게일 캠퍼니 회장". 중앙일보 (in 한국어). 2003-11-04. Retrieved 2018-08-10.
- ↑ "[경제]송도 개발 맡은 NSIC의 스탠 게일 회장 "中 투자자·여행객 유치에 초점"". weekly.cnbnews.com (in 한국어). Retrieved 2018-08-10.
- ↑ "스탠 게일 회장, GCF 송도 유치 공로 대통령 표창 수상". 중앙일보 (in 한국어). 2013-02-21. Retrieved 2018-08-10.
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