Commercial Observer Power 100: Gilmartin goes strong; Greenland's Hu absent; Brookfield (buyer of FCRT) reigns; Madison International pledges mall revamp
In April 2018, as I wrote 4/26/18, the Commercial Observer's always debatable Power 100 list ranked the three L&L MAG founders, including former Forest City New York CEO MaryAnne Gilmartin, at 26, which I thought premature.
Now that they have a couple of projects going, in Chelsea and Long Island City, plus other milestones for the larger parent company, they've risen to 17. Gilmartin was 43 in City & State's more recent inaugural Real Estate Power 50, while Greenland USA CEO Hu Gang was ranked 27, which I found debatable, given his company's general caution toward development.
Indeed, now that Greenland is selling even more pieces of Pacific Park, it's notable--and understandable--that Hu--who ranked 42 last year on the Commercial Observer list--is not in the publication's latest list.
AY connections
But there are several parties with Atlantic Yards/Pacific Park connections.
Notably, tops on the list are Ric Clark and Brian Kingston, Chairman of Brookfield Property Group and Brookfield Property Partners; CEO of Brookfield Property Group, builders of Manhattan West and now New York City’s biggest commercial landlord, thanks to the takeover last year of Forest City Realty Trust, parent of Forest City New York.
At 54 are Thomas and Frederick Elghanayan, Chairman and President of TF Cornerstone, who rose from 76, in part for acquiring rights to two development sites--B12 and B13--in Atlantic Yards/Pacific Park, on top of its significant work in Long Island City.
(Editor Max Gross cited TF Cornerstone's rise in two years, in part because of Pacific Park. If so, it's curious that the Brodsky Organization didn't make the list, since they're building two Pacific Park cites faster than TF Cornerstone.)
Mall retail revamp coming
At 64 is Ronald Dickerman, President and Founder of Madison International Realty, which last year bought the remaining 51% of Forest City's New York malls.
As previously stated, Dickerman plans to revamp the Atlantic Center mall, with "street-facing food and beverage outlets along Atlantic Avenue, to provide better options for both locals and the many who come to Barclays Center for sporting events and concerts." Dickerman said to expect announcements this year, and changes next year.
Forest City folk might be envious
By the way, at number 7 is Jed Walentas, CEO of Two Trees Management and builder of the Domino Sugar project in Williamsburg. No Atlantic Yards link, but those who helped run the publicly traded Forest City might cringe at the privately held--and well-financed, thanks to Dumbo profits--company's insulation from quarterly pressures.
“It’s only me making decisions,” Walentas said, “so I get to decide."
Now that they have a couple of projects going, in Chelsea and Long Island City, plus other milestones for the larger parent company, they've risen to 17. Gilmartin was 43 in City & State's more recent inaugural Real Estate Power 50, while Greenland USA CEO Hu Gang was ranked 27, which I found debatable, given his company's general caution toward development.
Indeed, now that Greenland is selling even more pieces of Pacific Park, it's notable--and understandable--that Hu--who ranked 42 last year on the Commercial Observer list--is not in the publication's latest list.
AY connections
But there are several parties with Atlantic Yards/Pacific Park connections.
Notably, tops on the list are Ric Clark and Brian Kingston, Chairman of Brookfield Property Group and Brookfield Property Partners; CEO of Brookfield Property Group, builders of Manhattan West and now New York City’s biggest commercial landlord, thanks to the takeover last year of Forest City Realty Trust, parent of Forest City New York.
At 54 are Thomas and Frederick Elghanayan, Chairman and President of TF Cornerstone, who rose from 76, in part for acquiring rights to two development sites--B12 and B13--in Atlantic Yards/Pacific Park, on top of its significant work in Long Island City.
(Editor Max Gross cited TF Cornerstone's rise in two years, in part because of Pacific Park. If so, it's curious that the Brodsky Organization didn't make the list, since they're building two Pacific Park cites faster than TF Cornerstone.)
Mall retail revamp coming
At 64 is Ronald Dickerman, President and Founder of Madison International Realty, which last year bought the remaining 51% of Forest City's New York malls.
As previously stated, Dickerman plans to revamp the Atlantic Center mall, with "street-facing food and beverage outlets along Atlantic Avenue, to provide better options for both locals and the many who come to Barclays Center for sporting events and concerts." Dickerman said to expect announcements this year, and changes next year.
Forest City folk might be envious
By the way, at number 7 is Jed Walentas, CEO of Two Trees Management and builder of the Domino Sugar project in Williamsburg. No Atlantic Yards link, but those who helped run the publicly traded Forest City might cringe at the privately held--and well-financed, thanks to Dumbo profits--company's insulation from quarterly pressures.
“It’s only me making decisions,” Walentas said, “so I get to decide."
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