Richard LeFrak
Richard S. LeFrak | |
|---|---|
| Born | 1945 New York City, U.S. |
| Occupation(s) | Real estate developer, entrepreneur |
| Years active | 1968–present |
| Known for | Chairman and CEO of LeFrak |
Richard S. LeFrak (born 1945) is a billionaire entrepreneur from the United States, holding the positions of chairman and CEO at LeFrak, a privately owned, family-operated real estate enterprise headquartered in New York City. He ranks among the most prominent landlords within the New York tri-state area.
Early life and education
Born in 1945 in New York City to Ethel Stone and the real estate developer Samuel J. LeFrak, LeFrak pursued his undergraduate studies at Amherst College, graduating cum laude with a B.A. He later earned a J.D. from Columbia University. Amherst College awarded him an honorary doctorate in 1998.
Career
LeFrak began his tenure at the family’s real estate business in 1968, ascending to president in 1975 and assuming the roles of chairman and CEO in 2003 following his father's death. Together with his father, he launched the development of Newport in Jersey City in 1986—a sprawling 600-acre mixed-use community comprising office spaces, residential buildings, hotels, retail outlets, educational institutions, and recreational parks.
During his stewardship, LeFrak broadened the company's footprint beyond New York. In 2008, the firm acquired office and medical properties located on Hollywood Boulevard and in Beverly Hills, California. By 2012, LeFrak had invested in a luxury mixed-use project in South Beach, Miami, which included a hotel formerly known as the Gansevoort; this property was rebranded as the environmentally conscious 1 Hotel Homes.
LeFrak has consistently been featured among the Commercial Observer's Real Estate Power 100 list, reaching as high as #10 in 2010 and maintaining prominent rankings through 2013.
Boards
He holds a seat on the board of directors for the Prostate Cancer Foundation and acts as a trustee for the American Museum of Natural History. From 1995 until 2007, he served on the board of Smith & Wollensky. His trustee roles have also included Amherst College and Trinity School. Additionally, he was a member of the New York State Banking Board and served as a director at BankUnited in Florida for four years.
Philanthropy
LeFrak heads the Richard S. and Karen LeFrak Charitable Foundation, which supports numerous nonprofit causes. Since 2016, he has been a trustee at New York-Presbyterian Hospital.
Controversy
In 2017, St. Joseph's Chapel—the Catholic September 11 Memorial situated in Gateway Plaza, Battery Park City—faced possible closure after rent increases were imposed by a management entity linked to LeFrak Corporation and its partners. The parish of St. Peter's struggled to meet these new financial demands.
Personal life
LeFrak is married to Karen Tucker LeFrak, who is both a composer and author of children's literature. The couple lives between New York and Southampton and has two sons:
- James "Jamie" Tucker LeFrak (born 1973) – serves as vice-chairman and managing director at LeFrak; married Susan Caroline Bierbaum in 2009.
- Harrison "Harry" Tucker LeFrak (born 1971) – also vice-chairman and managing director at LeFrak.
Politics
LeFrak donated $100,000 to Donald Trump's presidential campaign in 2020 and has described Trump—also a real estate developer—as "a dear friend."