Observer downgrades Ratner (not completely fairly) from #48 to #72 in "Power 100" list; the fate of modular could change all that
72. Bruce Ratner (48)Chairman and CEO, Forest City Ratner
Mr. Ratner has taken his ball, but he can't go home yet. The Barclays Center will actually open on time this fall, bringing professional sports back to Brooklyn, as well as Jay-Z, but the Cleveland-born developer has still yet to secure financing for the now-well-behind-schedule apartment towers. Those are now planned to be built modular, which has the potential to transform the way the city builds, but most New Yorkers will believe that when they see it. He completed one of the most beautiful buildings on the skyline by the world's most famous architect, with sky-high rents to boot, but the brand, not to mention the family name, has been so blackened in Brooklyn, it will be a wonder if he ever builds there again.
48. Bruce Ratner (53)
Chairman and CEO of Forest City Ratner
With the last of the lawsuits behind him, Mr. Ratner began work on what may still be the most cutting-edge arena in the country, even without Frank Gehry designing it. The developer is struggling to find financing for the first apartment tower on the site-but if he does, there are rumors it could be the largest prefabricated structure in the world, and something with the possibility to transform the way New York builds. And there is a certain Manhattan apartment building he and Mr. Gehry managed to finish together.
84. Jonathan Mechanic and Stephen Lefkowitz (88 last year)Chairman of the real estate department and Partner, respectively, Fried Frank
You’ll be hard pressed to find a major commercial real estate deal that one of these two hasn’t had a hand in. Jonathan Mechanic and Stephen Lefkowitz, both partners in Fried Frank’s real estate practice, negotiate deals on behalf of some of New York’s most boldfaced names. These include Condé Nast’s 1 World Trade Center lease, SL Green’s $416 million joint venture with Jeff Sutton to acquire eight East Side properties and Forest City Ratner in its Atlantic Yards project. Their client list alone is a Who’s Who of New York’s real estate elite.