How rich is Richard LeFrak?
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LeFrak was born in 1945 into a Jewish family in NYC, one of four kids of Ethel Stone and property developer Samuel J. LeFrak. LeFrak additionally holds a J.D. from Columbia University. LeFrak joined his family’s property business, LeFrak, in 1968. In 1975 he was named president. In 2003, he was elected chairman and CEO after the departure of his father, Samuel J. LeFrak. The location is now called Newport, a 600-acre locality with 8 office buildings, 13 flat towers, 2 resorts, an urban beach, schools, a retail mall, and parks. Under LeFrak’s guidance, LeFrak has raised its portfolio of residential, office, resort, and retail developments. LeFrak can also be credited with leading the LeFrak organization’s growth and diversification beyond the NYC region. In 2008 the firm bought a 12-story office building on Hollywood Boulevard at the same time as a medical building in Beverly Hills, California. In 2012 LeFrak bought a position in a South Beach, Miami high-end mixed-use property, including a resort once called the Gansevoort. The job is anticipated to open in early 2014 as the eco-minded 1 Resort Residences.