Jay Furman of Furman Center Fame Dies at 72

Jay Furman

Jay Furman, the real estate developer who helped found the Furman Center for Real Estate and Urban Policy at New York University, died on Jan. 4, according to a statement from the Furman Center. He was 72.

Mr. Furman, who owned properties in the U.S. and Puerto Rico through his RD Management, had battled lung cancer, according to a report from the New York Times. Read More


Real Estate Legend Arthur G. Cohen Passes at 84

Olympic Tower

Legendary real estate developer Arthur G. Cohen, a magnate who formed the Arlen Realty and Development Corporation, passed away on Aug. 9 at his family’s home in Kings Point, N.Y., The New York Times reported on Friday.

Mr. Cohen bought and renovated 15,000 apartment units in the city, formed part of the team behind the mixed-use One Worldwide Plaza on the former site of Madison Square Garden, and combined with Aristotle Onassis on the 51-story Olympic Tower adjacent to St. Patrick’s Cathedral. Read More


Lee Lorch, Leader of Stuyvesant Town’s Desegregation, Dead at 98

Lee Lorch. (Credit: New York Times)

Mathematician Lee Lorch, whose leadership in the campaign to desegregate Stuyvesant Town helped make housing discrimination illegal nationwide, has died. He was 98.

Beginning in the late 1940’s, Mr. Lorch’s efforts to end Stuyvesant Town’s whites-only admissions policy – and his refusal to back down – led to a reputation as a “trouble maker” that seeped into his professional life, as the universities he worked for one-by-one refused to extend his tenure.

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Prolific Dealmaker Matthew Stacom Dead at 95


Matthew Stacom, a former top broker at Cushman & Wakefield and prolific dealmaker who orchestrated the sale of the development site that would become the Sears Tower, has died. He was 95.

Mr. Stacom began his career with Cushman & Wakefield in 1946, staying on with the brokerage for nearly seven decades and completing several high profile Read More


Elizabeth Berger, President of Alliance for Downtown, Dies at 53

Screen shot 2013-08-06 at 12.19.58 AM

Elizabeth Berger, president and CEO of the Alliance for Downtown New York and president of the Downtown-Lower Manhattan Association, has died at 53 after a battle with pancreatic cancer.

Ms. Berger helped shape the reimagining and rebuilding of Lower Manhattan after the 9/11 attacks and recently led a multifaceted effort to assist Lower Manhattan businesses and residents following Superstorm Sandy. Read More


Sherman Cohen, Real Estate Developer Who Transformed Third Avenue Into Residential Destination, Dies at 91

Sherman Cohen

Sherman Cohen, the real estate developer who propelled Cohen Brothers Realty & Construction Corporation into the ranks of the city’s top development firms, has died.  He was 91.

Mr. Cohen, known for his quick wit and sharp dress, founded the company with his two brothers in 1959, later building it into a New York City mainstay along with his son, Charles Cohen.

“It’s the end of an era,” Charles Cohen said about his father.  “He pioneered new neighborhoods and improved the quality of life in so many communities across the city.  He built big residential buildings in areas where people at the time were not looking to build or live.” Read More


Sandy Lindenbaum, Beloved Zoning Attorney For a Generation of Major Developers, Dies At 77

Sandy Lindenbaum

Samuel Lindenbaum, a counselor at the firm Kramer Levin who was considered one of the city’s leading land use attorneys and who was known affectionately throughout the industry as Sandy, died this afternoon the firm announced. The cause of death was esophageal cancer. He was 77.

Mr. Lindenbaum was well known for his deep knowledge of the city’s labyrinthine zoning laws and regulations and was the council of choice for major developers, including Donald Trump, Harry Macklowe and the real estate investment trust Vornado, in the throes of winning city approvals for big time projects. Read More


W.P. Carey & Co. Founder, Real Estate Legend: R.I.P.

Wm. Polk Carey, 1930-2012

Wm. “Bill” Polk Carey, founder and chairman of investment management firm W.P. Carey & Co. that specialized in the acquisition and management of single-tenanted commercial real estate, died yesterday of natural causes at a Florida hospital, his company announced.

He was 81.

In 2009, W.P. Carey & Co. paid $225 million for 21 floors at the New York Times Building at 620 Eighth Avenue under a sale-leaseback arrangement, with the newspaper agreeing to lease out space in the building for up to 15 years. Read More