Real Estate and Development Power Players

Ron Moelis, Co-founder and Chairman
Ron Moelis is a co-founder of L+M Development Partners, a full-service real estate development firm, and its affiliated companies. Ron founded L+M in 1984 and after 37 years as CEO, he has now stepped down to serve as chair. A graduate of the University of Pennsylvania, Ron holds a B.A. in History and a B.S. in Economics from the Wharton School, and a J.D. from New York University.

What is your favorite landmark in New York State?
Central Park. It’s one of the few places that truly offers a sense of reprieve from the bustle of the city. Over the past ten years, I’ve spent a tremendous amount of time walking and running in the park and it always brings me back to a state of feeling calm. I have always loved living in Manhattan because it is so vibrant, but Central Park stands out because it feels like a different world — it’s an escape from the energy of its surroundings. 

What has been your favorite development project and why?
Essex Crossing. After many years of working tirelessly with the city and the community, we were able to design and build an inclusive development that took into account the needs of the neighborhood. Essex Crossing infused the Lower East Side with vibrancy and by bringing together affordable housing, entertainment, retail, and the eclectic Market Line, we were able to create a mixed-use community that provides world-class amenities for residents and visitors alike.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
The pandemic has undoubtedly had a dramatic effect on the market. It appears that the residential side is starting to stabilize but on the other hand, it seems that the commercial and retail industries will take longer to rebound since consumer spending patterns and lifestyles were significantly altered in the last two years.

How did you become interested in architecture, real estate, or construction?
I first became interested in real estate when I was in law school, but my passion really picked up once I started becoming involved in affordable housing around 1985. I was really drawn to the fact that affordable housing development combines mission and impact, requires solving financial challenges and involves the complexity of working with public and private partnerships. 

What is your favorite place you’ve ever lived?
Manhattan. I have always loved the excitement this borough has to offer. From cultural institutions and diverse eateries to nightlife and interesting people, Manhattan is so dynamic and in all my years living here, I have never gotten tired of it.

Lisa Gomez, CEO
Lisa Gomez brings nearly 30 years of experience in real estate development and finance to her position as L+M Development Partners’ chief executive officer, where she oversees the day-to-day operations of the company and its construction and property management subsidiaries. Lisa also leads the company’s growth strategy and has positioned L+M Development Partners as a nationally recognized affordable housing developer delivering landmark projects such as the Urban League Empowerment Center and Bronx Point.

What is your favorite landmark in New York State?
The New York Public Library. For so long, it has inspired New Yorkers and continues to evolve to meet the changing needs of the City. 

What has been your favorite development project and why?
I have many favorite development projects — they are like my children; I love them wholly and differently. Some of my current loves include the project we’re doing with the National Urban League on 125th St., our first net-zero community in Arverne and the very important public housing preservation work we’re currently doing in Brooklyn and Harlem. 

What is the current state of commercial real estate in New York? What impact has the pandemic had?
New York is a resilient city and real estate will be resilient. Every aspect of real estate is dealing with the effects of the pandemic and we will be dealing with them for a while. That’s where resilience comes in; we need to weather the storm.

How did you become interested in architecture, real estate, or construction?
I became interested in real estate, architecture, and construction through a few different channels — including my revered grandfather who worked in construction. What I love about real estate is that it’s both an art and a science — you use both sides of the brain, left and right. 

What is your favorite place you’ve ever lived?
My favorite place I’ve ever lived is Brooklyn. I’m originally from New Orleans, though, and I love Louisiana too.

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. In 2021, Gary was elected president of the New York State Building and Construction Trades Council, made up of 15 local building trades councils, 12 district councils and state associations, and 135 local unions, and which represents 200,000 tradespeople.

What is your favorite landmark in New York State?
One World Trade Center. It’s a testament to New York’s fortitude and the fighting spirit of this exceptional city and state. From the ashes and devastation of one of our nation’s most harrowing days rose a remarkable skyscraper that, in a way, serves as a memorial to those we tragically lost and a sign to the world of New York’s resilience.

What has been your favorite development project and why?
Any and every project built by the hardworking tradesmen and tradeswoman of the New York City Building Trades. Our members are best-in-class in the industry, and they’ve built projects recognized and idolized around the world. Anything the men and women of the BCTC touch is a project of the highest caliber and integrity.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
There’s no doubt that deep uncertainty remains in the commercial real estate and building industries across New York. The pandemic put many projects on pause and it has left a number of businesses resorting to hybrid work options. That said, we’re seeing a lot of positive movement in the city’s commercial real estate market at the moment. We’re seeing office workers come back to the city and more building permits being filed. I’m nothing but optimistic. New York’s economic and social recovery will soon begin in earnest.

How did you become interested in architecture, real estate, or construction?
I grew up in a union family, and the virtues of union membership and hard work were always very clear to me. My father was a member of the Teamsters union, and both he and my mother grew up during the Great Depression. Construction brought together both my sense of pride in my father’s union membership and my commitment to hard work. Construction isn’t an easy industry – it’s not for everyone – but it’s certainly meant for me. I’ll never forget the day I joined the Teamsters, just like my father before me.

What is your favorite place you’ve ever lived?
My home in Long Island will forever have a special place in my heart. It’s where I grew up, and it’s where I live now. It will always be what I call home.

Frank Lalezarian, Owner
Frank Lalezarian is the owner and founder of Lalezarian Properties, a family-owned real estate management and development firm based in Long Island. Mr. Lalezarian founded the company in 1981 after emigrating to the United States from his home country of Iran. He has led his firm to develop properties across Long Island, Brooklyn, and the West side of Manhattan. Mr. Lalezarian is also a board member of the Iranian American Jewish Federations of New York. 

Kevin Lalezarian, Principal
Kevin Lalezarian is a principal of Lalezarian Properties, a family-owned real estate management and development firm based in Long Island. Mr. Lalezarian has been instrumental in helping the firm break into the Brooklyn market, and helped develop several High Line adjacent buildings in Manhattan. In addition to his role at Lalezarian Properties, he sits on the board of the Downtown Brooklyn Partnership as well as The Hudson Yards/Hell’s Kitchen Alliance, and served as the Governor of the Real Estate Board of New York.

James Wacht, President
James Wacht, a native New Yorker, has been active in the real estate industry since 1981. He currently serves as president of Lee & Associates NYC. Mr. Wacht focuses on overseeing the activities and growth of the company and advising property owners on strategies for maximizing the value of their properties.

What is your favorite landmark in New York State?
My favorite landmark is Central Park, the lungs of New York. In honor of my 50th birthday, my family gifted me a bench at Central Park that has a plaque with my name on it.

What has been your favorite development project and why?
Our project in Inwood that will be breaking ground shortly. This process has been seven years in the making.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
New York is recovering as there has been a significant uptick in leasing and sales activity across most asset classes since the beginning of the year. At the beginning, the pandemic had quite a significant impact on the world. Since everything came to a halt, there is now a spike in activity due to pent-up demand. Shows, concerts, and restaurants are packed. Even Midtown is showing signs of life!

How did you become interested in architecture, real estate, or construction?
Growing up in Manhattan, I always had a love of buildings. Even now, when I return from a trip, I get a thrill when I first spot the skyline. It is absolute magic and never gets old.

What is your favorite place you’ve ever lived?
Soho in 1976 when the art scene was beginning to explode. I spent my days visiting the newly opened art galleries and at night going to CBGB’s and Max’s Kansas City. I was a waiter at the Soho Charcuterie on the corner of Spring and Sullivan Street where I got to wait on many of the local celebrities who would dine there. I also worked at Windows of The World, which was the restaurant on the 107th floor of the Twin Towers.

Peter Braus, Managing Principal
Peter Braus is the managing principal and co-founder of Lee & Associates NYC, where he oversees over 60 brokerage professionals, and is actively involved in every aspect of managing and running the business. Mr. Braus has been involved in the ownership and brokerage of real estate for over 25 years, specializing in strategic repositioning of major retail assets on behalf of owners and developers. He joined Lee & Associates NYC in 2011 as an owner/investor.

What is your favorite landmark in New York State?
I’ve always loved the Flatiron Building. It’s a beautiful, romantic and cool staple of New York City.

What has been your favorite development project and why?
I’d have to second Jim on our Inwood project. Once it’s all done, the development will be an amazing New York story.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
The state of commercial real estate in New York is mixed. Some sectors right now are very hot — like multi-family sales, medical/lab space, ultra high-end office space and second-generation restaurants in good areas. Other areas of real estate are still recovering. The pandemic made a huge impact in most people’s lifestyles, work/life balance and priorities. Some of these changes will stick, while others will not.

How did you become interested in architecture, real estate, or construction?
My family has been involved in the real estate industry for many decades. It has always been in my blood.

What is your favorite place you’ve ever lived?
86 West 12th Street in 1990. Coolest place in NYC at that time.

Michael E. Lefkowitz is managing member of Rosenberg & Estis, P.C. and a leader of the firm’s Transactional Department. Lefkowitz specializes in representing clients in commercial real estate transactions. His focus for many years has been representing lenders and borrowers in completing financing transactions, helping buyers and sellers with complex purchases and sales, and assisting sponsors and equity participants in joint venture structuring.

What is your favorite landmark in New York State?
The Statue of Liberty. I hark back to the quote in the Emma Lazarus poem inscribed in the statue’s pedestal: “’Give me your tired, your poor, your huddled masses yearning to breathe free …” The statue just represents everything New York is, should be and will continue to be. For so many generations of people, the Statue of Liberty, as a symbol of New York, represents opportunity and what makes New York great is the opportunities it presents to all people around the world.

What has been your favorite development project and why?
One of the first development projects of my career is my favorite project. It was the mid-’90s conversion of 285 Lafayette Street, a former Hawley & Hoops chocolate factory, into residential condominium units in one of the earlier redevelopments south of Canal Street. What made it so interesting was the complexity of constructing additional floors on top of the original building, while the building was occupied by long-term loft tenants, who ultimately shared in the development upside by becoming condominium unit owners. 

What is the current state of commercial real estate in New York? What impact has the pandemic had?
Resilient. The future for commercial real estate in New York is very bright, coming out of the pandemic. Throughout my career New York has had many events, which have impacted the city greatly – 9/11, Super Storm Sandy, the Great Recession, and most recently the pandemic. Each and every time, New York City’s commercial real estate market has proven itself to be more resilient than any other market in the country.

How did you become interested in architecture, real estate, or construction?
I became interested in real estate because of my grandfather, who started as a cigar store owner downtown and, realizing that owning real estate was more lucrative than selling cigars, began purchasing commercial real estate throughout New York City. I took that family interest in real estate, along with my father’s career as a New York State court judge, and I made the best of both worlds by becoming a New York City real estate attorney.

What is your favorite place you’ve ever lived?
I grew up on Long Island, where I currently maintain a home. But by far, my favorite place to live is New York City, where I’ve lived for the last 36 years. Every day, you can feel the energy, the culture, the vibrancy and you can’t help but fall in love with New York. It’s also quite rewarding living in a city where I can see the skyline that I and my firm helped develop.

Richard LeFrak is the chairman and chief executive officer of the LeFrak Organization. The family-owned property company owns and operates an extensive, bicoastal property portfolio. Richard LeFrak took over the company as CEO in 2003, inheriting the position from his father Samuel LeFrak. He joined the company shortly after graduating from Amherst College in 1968, and was named president in 1975. In his current role, Mr. LeFrak manages the company’s investment, development, and management activities.

Jeffrey E. Levine is the founder and chairman of Douglaston Development, Levine Builders, and Clinton Management. Since founding The Douglaston Companies in 1979, Mr. Levine has directed the new construction and rehabilitation of thousands of residential units, including both affordable and luxury housing, student housing, hotels, senior living, health care facilities, and millions of square feet of commercial retail, office, and institutional space.

What is your favorite landmark in New York State?
The Woolworth Building.

What has been your favorite development project and why?
Developing the Williamsburg waterfront, which included the creation of hundreds of units of affordable housing, two waterfront market rate rental buildings, and delivered over 550 condominiums, a waterfront plaza, and development of a brand-new ferry terminal. This project transformed a formerly industrial section of the Brooklyn Waterfront into a desirable residential community, and through the work and coordination we did in conjunction with a multitude of NYC, NYS, and national agencies, the team was able to stimulate the local economy and create additional employment opportunities in the community.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
As is always the case with New York real estate, there have been ups and downs over the past few years. When Covid hit, there was a mass exodus from the city, similar to the aftermath of events like 9/11 or the financial crash of the late 2000’s. Many people left the city and opted to move elsewhere while they were working remotely, causing vacancies to increase and rents to plummet. Since the vaccine, there’s been a resurgence in the rental market like we’ve never seen before. New York is coming back with vengeance.

How did you become interested in architecture, real estate, or construction?
During the summer when I was a kid, I worked construction trades around New York. I had an affinity for building and founded my own construction company in 1979 at the age of 25. My passion for the industry showed in the work I did for other developers. As my construction business grew, I took on more responsibility as a minority partner in developing several properties. I grew my skills and learned the ropes from the people around me. Leveraging all of my experiences, I have grown an organization that develops, builds, and manages properties in and around the five boroughs.

What is your favorite place you’ve ever lived?
During various stages of my life, I’ve lived in three of New York City’s boroughs: Queens, Brooklyn, and Manhattan. Each home served as an exceptional place to learn about myself and my industry in an epicenter of change and progress. 

Anthony Malkin is the chairman, president, and chief executive officer of Empire State Realty Trust. Mr. Malkin began his career with a position at Chemical Venture Partners LP before joining Malkin Holdings LLC (the predecessor of Empire State Realty Trust) in 1989. He is a leader in energy-efficient retrofits and developments, leading what is now known as the Tenant Energy Optimization Program at the Urban Land Institute. Mr. Malkin is active in many real estate and energy efficiency organizations, including the Climate Mobilization Advisory Board of New York City and the Real Estate Board of New York.