Partnership Between Marty Burger and Andrew Farkas Falls Apart
By Nick Trombola and Mark Hallum April 17, 2024 11:10 am
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A partnership between Marty Burger’s new firm Infinity Global Real Estate Partners and Andrew Farkas’s Island Capital Group appears to have been killed in the cradle.
Burger, the former Silverstein CEO, announced the launch of Infinity Global in February with Farkas on board, though a final deal between the partners was never finalized, according to The Real Deal, citing confidential sources.
Yet Burger still intends to move ahead with his new firm, which plans to focus on office-to-residential conversions, without Farkas, TRD reported.
“While discussions were held, a final deal was never formalized, but Marty and Andrew have tremendous respect for each other,” a spokesperson for Infinity said in a statement. “Infinity’s focus remains on building its three platforms: debt strategies, equity acquisitions, and development.”
Farkas and Burger did not immediately respond to requests for comment.
Burger led Silverstein from 2010 to 2023, overseeing major projects in New York City including the 82-story Four Seasons hotel-condo at 30 Park Place, the 42-story One West End condo tower, and the rebuilding of the World Trade Center site.
His time at Silverstein came to an end in October when he was replaced by founder Larry Silverstein’s daughter Lisa Silverstein, as part of a “strategy shift” at the firm, Commercial Observer reported at the time.
Nick Trombola can be reached at ntrombola@commercialobserver.com. Mark Hallum can be reached at mhallum@commercialobsever.com.
