Rose Associates Elevates CIO Marc Ehrlich to President
By Mark Hallum October 17, 2024 5:14 pm
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Rose Associates is promoting from within — but outside the family — in its search for a new president, choosing its chief investment officer Marc Ehrlich for the role, the multifamily developer and manager announced Thursday.
It will be the first time in the company’s 99-year history that someone outside the Rose family has been chosen for such a high-ranking position, which Ehrlich started on Thursday.
“These are very exciting times at Rose with our continued expansion in New York City and the tri-state area,” Amy Rose, CEO of Rose Associates, said in a statement. “As we prepare to embark on a second century in business, Marc is uniquely suited to keep Rose on a path of positive growth while he also develops new, forward-looking strategies.”
The 55-year-old Ehrlich began working at Rose Associates in 2013 before being promoted to chief financial officer in 2014 and then CIO in 2018. Since then he helped grow the family firm’s development and advisory platforms and had a hand in finding financing for the delivery of 1,200 housing units in 2024 so far, according to Rose.
The company currently has 30,000 units of apartments within its portfolio.
Some of those properties include 301 East 94th Street in Manhattan, 8 Court Square in Long Island City, Queens, 57 Alexander Street in Yonkers, N.Y., and 440 Hamilton Avenue in White Plains, N.Y.
Ehrlich is considered an investment, development, asset management and tax structure expert by the company.
“I have such deep respect for my colleagues and our firm’s history, and I look forward to working closely with Amy to help Rose reach new heights,” Ehrlich said in a statement. “While Rose operates at a very high, institutional level, the company has always stayed true to its founding values.”
Ehrlich also moonlights as an adjunct professor at the Newman Real Estate Institute of Baruch College’s Zicklin School of Business.
Mark Hallum can be reached at mhallum@commercialobserver.com.
