Lightstone Group

Lightstone is a privately owned real estate company active in 24 states according to their website, with $6.5 billion in assets that as of 2021 included some 3.5 million square feet of hotels, retail and multifamily (that, in turn, included 4,100 hotel rooms and 15,000 residential units).

David Lichtenstein founded the company in 1986, and was at first focused on multifamily ownership. In the early 2000s, he began focusing on retail, acquiring Prime Outlets in 2003, making Lightstone the largest owner of outlet malls in the country. Lightstone sold Prime Outlets to Simon Property Group in 2009, during the height of the Great Recession, for $2.24 billion, according to The New York Times.

During the 2010s Lightstone made a push into the hospitality sector, bringing to market several Moxy hotels in Midtown, the East Village, and the Lower East Side, as well as two Marriotts and a Hilton Garden Inn in Downtown L.A., but has continued to develop condo properties on the Upper East Side and the Financial District as well as multifamily projects in Brooklyn, Queens and the Bronx.

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