Harrison Lefrak Is the Son of Richard Lefrak, Co-Managing Director of LeFrak Commercial Properties
Harrison Lefrak is the heir apparent to his father Richard’s position as co-managing director of their family real estate empire. The family’s namesake company owns the vast LeFrak City complex in Queens and other commercial properties nationwide.
The LeFraks are one of the nation’s biggest real estate dynasties and were estimated to be worth $6.6 billion by Forbes in 2015. Harry Lefrak, the firm’s founder, earned his fortune as a glazier before starting the firm in 1901. He later bought a 120-acre Williamsburg farm, which was later sliced off for homebuilding. Sam Lefrak took over in 1948, and aggressively scaled up the company.
A Day in the Life of Harrison Lefrak: Insights from a Real Estate Mogul
He and his two sons, including Harrison, are currently focusing on opportunistic investments in Manhattan and Florida. The firm targets markets with high barriers to entry, where demand is expected to be strong but supply won’t be able to keep up, creating a potential opportunity.
In Miami, the company recently sold a penthouse at the Setai to private equity firm founder Doug Kimmelman for $35 million and is also working on SoleMia, a $4 billion development in North Miami, with the Soffer family of Turnberry Associates.
Page Six has reported that the billionaire scion of the LeFrak Organization is set to split from his wife, Katherine Embiricos Lefrak, an heiress to a Greek shipping fortune. The pair married within the last five years and have a child. Harrison, who is a vice chairman at the firm, is reportedly the co-managing director of his father’s company.