2025 Power Players in Real Estate

Michael Hershman is a global leader in corporate governance and compliance, mergers and acquisitions strategies and securities issues. Founder of the consulting firm the Fairfax Group, Mr. Hershman has more than 30 years of experience advising companies both domestic and international, including Soloviev Building Company, General Electric, Walmart, and Siemens. He was named CEO of the Soloviev Group in April of 2021.

Is there a project you are excited to work on or see completed in 2025?
We’re excited to offer to the residents of NYC and beyond a new exhibit on our First Avenue site called Path of Liberty: That Which Unites US, a prequel to our nation’s 250th birthday. At the beginning of 2026, we hope to break ground on our integrated resort, Freedom Plaza, which will include affordable housing, nearly five acres of open space, a hotel, an underground casino, retail, and food and beverage offerings.

How do you see real estate evolving in the future?
All signs point to real estate recovering. We expect the real estate market, on both commercial and residential levels, to be very strong in 2025. In terms of evolution, we see a continued uptick in providing wellness facilities and other amenities to tenants. New buildings – and older buildings being converted – need to offer the amenities that are desired by residents, whether they’re office workers or residential residents.

What is the most important lesson you’ve learned in your career so far?
Don’t be discouraged by failure. Every time you face failure, it is an opportunity to learn and grow stronger.

Marc Holliday, chief executive officer of SL Green Realty Corp since 2004 and chairman of the Board since January 2019, has led SL Green to be New York City’s largest owner of commercial properties and the dominant office landlord in Midtown Manhattan. SL Green’s portfolio includes ownership interests in more than 54 buildings totaling 30.6 million square feet, including One Vanderbilt Avenue, valued in excess of $4.7 billion.

Is there a project you are excited to work on or see completed in 2025?
We expect to drive forward two game-changing projects for the City this year. At 750 3rd Avenue, we’re advancing an office-to-residential conversion that will create more than 650 housing units. We’ve partnered with Roc Nation and Caesars to bring the best gaming and entertainment destination in the world to the heart of Times Square, designed in a way that will drive economic growth to surrounding businesses and bring millions in community benefits.

Ninve James leads the Real Estate Board of New York (REBNY)’s work for residential brokerage, supporting more than 11,000 agents across New York City and overseeing REBNY’s residential products including the Residential Listing Service (RLS), New York City’s listing system that powers listings on behalf of 550 member firms. Previously, Ninve served as vice president of Realtor.com and, prior to that, she was a member of the New York City founding team at Trulia.com.

Is there a project you are excited to work on or see completed in 2025?
The REBNY RLS is launching a first-of-its-kind New York City Centralized Building Database, a key milestone in its strategic vision. This initiative enhances efficiency and ensures trusted data access for brokers, agents, owners, and consumers, strengthening and providing value to the entire NYC real estate ecosystem.

How do you see real estate evolving in the future?
Artificial Intelligence is transforming how consumers search for real estate, delivering only the most relevant results to consumers based on their home search needs. As demand for instant, precise information grows, home search will evolve rapidly over the next 3-5 years, reshaping the industry’s approach to data and consumer expectations.

What is the most important lesson you’ve learned in your career so far?
Adaptability is key to long-term success. The real estate industry constantly evolves, and embracing change, whether through technology, data standards, or shifting consumer expectations is essential. I’ve learned that staying ahead requires continuous learning, collaboration, and a willingness to challenge the status quo. By focusing on innovation and transparency, we can create lasting value for agents, brokers and consumers alike, ensuring the industry remains efficient, data-driven, and consumer-focused.

Suri Kasirer is a lifelong New Yorker and advocate. She founded Kasirer in 1997, growing it into New York City’s top lobbying firm. With a deep understanding of government at the local and state levels, she and her team have helped clients across industries navigate policy and advocacy. Suri is actively involved in civic and nonprofit leadership, serving on multiple boards. A Yeshiva University graduate, she began her career in education before transitioning to politics.

Is there a project you are excited to work on or see completed in 2025?
I’m thrilled about the New York Climate Exchange’s expansion! This groundbreaking center for climate innovation and sustainable business research continues to gain momentum, with each phase bringing us closer to completion. As construction advances toward the 2029 completion date, we’re already seeing positive impacts on technology development and policy collaboration. The Exchange’s growing network signals a bright future for climate solutions in New York and beyond, making this an exciting time to witness its evolution.

How do you see real estate evolving in the future?
New York’s real estate market is poised for positive transformation. Affordable housing initiatives are gaining momentum through rezoning efforts and developer incentives, creating more accessible living options. Meanwhile, the commercial sector shows signs of post-COVID recovery as companies adopt hybrid models that maintain office presence while offering flexibility. Innovative repurposing of commercial spaces and public-private partnerships are revitalizing neighborhoods and attracting investment. These trends signal a resilient, adaptive market ready to meet the city’s needs.

What is the most important lesson you’ve learned in your career so far?
The most important lesson I’ve learned is the power of investing in people. Hiring talented individuals and supporting their growth not only strengthens a team but also creates a lasting impact. Seeing others thrive because of opportunities I’ve helped provide is incredibly rewarding. It reinforces that leadership isn’t just about results – it’s about empowering others, fostering collaboration, and building a culture where people can succeed and contribute their best work.

Senator Brian Kavanagh represents more than 330,000 residents in New York’s Senate District 27, covering neighborhoods across Lower Manhattan from the Battery to 14th Street. As chair of the Senate Committee on Housing, Construction and Community Development, Brian has built on his decades of advocating for access to high-quality, safe, affordable housing for all New Yorkers.

Paula is managing director of Plaxall, a third-generation family business that owns and manages nearly a million square feet of property in Long Island City. A Queens native, Paula serves on the boards of the Queens Museum, the Queens Public Library Foundation, the Citizens Budget Commission, and the LIC Business Improvement District, as well as on the Board of Advisors of Mount Sinai Queens. She is an active member of REBNY and the LIC Partnership.

Is there a project you are excited to work on or see completed in 2025?
While there’s always a lot going on at Plaxall, the project I am most excited to be a part of is the new Children’s Museum at the Queens Museum! Thanks in large part to our elected officials, this dream project is quickly becoming a reality – with construction set to begin in December. As a long-time board member, I am proud to see this great addition to our cultural landscape come to fruition.

How do you see real estate evolving in the future?
Plaxall first opened in LIC in the 1940s and much like neighborhoods across NYC – it’s changed dramatically. For example, a single-story warehouse of ours once used by Pepsi as a distribution hub – their iconic sign a relic of that era – is now occupied by a robotics company, a custom architectural fabricator and a pickleball facility! Innovation in real estate has injected new vibrancy into LIC and I look forward to whatever comes next.

What is the most important lesson you’ve learned in your career so far?
Our family has a long history of innovation, starting with my grandfather, who founded Plaxall. A few years into starting the business, he invented thermoforming, the process of transforming plastic sheets into three-dimensional shapes using heat, vacuum, and pressure. That same entrepreneurial spirit is at the core of our business today and every day I learn from the example set by the generations of family members that came before.

Gary LaBarbera has served since 2009 as president of the Building and Construction Trades Council of Greater New York, an organization comprising local affiliates of 15 national and international unions representing 100,000 working men and women in New York City. Since assuming his position Mr. LaBarbera has embarked on ambitious negotiations for project labor agreements to provide labor cost savings to advance major public and private projects that create career opportunities and economic stimulus.

Laura Lazarus brings 30 years of affordable housing expertise to Anthos|Home, which pioneered NYC’s first unit banking system for voucher holders. There, she implements their innovative model that reduces shelter-to-housing transitions from years to months through flexible funding, landlord partnerships, and wraparound support. She serves on HeartShare St. Vincent’s board and holds degrees from Princeton and Georgetown Law.

Michael S. Liebowitz is president and CEO of Douglas Elliman Inc. and a member of its Board of Directors. With 25 years experience in founding, acquiring, and monetizing companies, he focuses on leveraging Elliman’s brand for innovation and growth through M&A. He owns the Mondrian South Beach Hotel and has led various businesses, including Harbor Group Consulting, a founding principal of National Financial Partners. He’s also active in philanthropy and advises major financial services companies.

Is there a project you are excited to work on or see completed in 2025?
My goal for 2025 is to continue to expand our footprint, acquire ancillary businesses to help drive greater revenue and to recruit even more great talent to Douglas Elliman.

How do you see real estate evolving in the future?
Real estate is a people business first and foremost, but technology, especially the use of Artificial Intelligence, will serve to enhance the ease of which agents can work, giving them even more time for their important buyers and sellers.

What is the most important lesson you’ve learned in your career so far?
The greatest lesson I’ve learned throughout my long career as an entrepreneur is the importance of adapting to new realities of the industry in which you work. You cannot sit around and think that the old way of doing business is still the best way.

As the founder of Marino, Frank Marino built and scaled the agency’s Real Estate & Property Innovation practice, playing an integral role in shaping the narrative surrounding some of the most respected industry names and iconic properties. Together with the firm’s award-winning team, Frank – a member of REBNY’s Board of Governors – has developed and executed results-oriented, comprehensive communications strategies for a dynamic roster of clients, and has worked on some of the city’s most consequential projects.

Is there a project you are excited to work on or see completed in 2025?
We’ve seen major progress in JFK International Airport’s overall redevelopment recently, including our client JFKIAT – the operator of Terminal 4 at JFK Airport – reach new heights in T4’s transformation. As JFKIAT continues to enter new phases of the project and share key announcements this year, I look forward to seeing the terminal’s exceptional commercial offerings come to life as the entire facility continues to improve its operations and enhance the ultimate customer and employee experience.

How do you see real estate evolving in the future?
Commercial real estate, especially office space, is evolving amid economic shifts and changing work trends. While the adage was “Survive to ’25,” the expected fallout has been less severe, as many owners successfully refinanced, allowing them to hold properties. Hybrid work continues reshaping office demand, with flight-to-quality driving leasing activity. Mixed-use developments and adaptive reuse projects are gaining traction, while AI and sustainability influence future investment strategies, making flexibility and innovation essential for long-term success.

What is the most important lesson you’ve learned in your career so far?
The most important lesson I’ve learned is that success comes from adaptability, strong relationships, and a commitment to excellence. The landscape is always evolving – whether through technology, competition, or client needs – so staying ahead requires continuous learning and innovation. Equally vital is building trust and collaboration within teams and with clients. Ultimately, the best results come from a mix of creativity, strategic thinking, and the relentless pursuit of delivering value every day.