Major landlords in NYC play an enormous role in its economy. Owning office buildings, apartment complexes, and more makes these business leaders major employers throughout New York City.
Landlords also played an instrumental role in fighting rent regulation reform, making lobbying efforts against Albany. We conducted an exhaustive analysis to identify the ten largest landlords in NYC from public records.
Brookfield Property Partners
Brookfield Property Partners remained NYC’s most crucial landlord through an often turbulent year, according to The Real Deal’s comprehensive ranking of public documents related to Manhattan’s 2.2 million rental units that generated $2 billion in income between 2014 and 2016. Brookfield owns an impressive share of those apartments–such as those found within the Stuyvesant Town complex in Stuyvesant Town and Rego Park in Brooklyn–in this survey by The Real Deal.
This company also owns some of New York City’s ritziest office towers, such as 1100 Avenue of the Americas and its soon-to-open sister property, 5 Manhattan West, as well as being responsible for owning iconic Zuccotti Park in Downtown Manhattan and being an essential player in its retail market.
The company’s real estate division reported a $5.2 billion gain for full-year results due to the sale of two malls, increased rent collections, and raising new debt in response to fluctuations in financial markets. Shares rose one percent Friday morning trading, closing at $18.45
SL Green Realty
SL Green Realty is one of New York City’s premier real estate companies and has experienced a steady expansion in recent years. Revenue, operating income, and earnings per share increased substantially while its debt-to-equity ratio remained lower than industry norms.
The company boasts a diverse portfolio of properties and is poised for continued expansion. However, the business faces many obstacles that may hamper future expansion, such as consumer preferences or regulatory changes; nonetheless, it has managed to overcome these hurdles and is set for lasting success.
RXR Realty, with operations throughout all five boroughs of NYC and holding more than 26.5 million square feet of properties across commercial, retail, multifamily, and other properties – is another powerful player. Their projects span commercial real estate properties such as One Vanderbilt, which will stand adjacent to Grand Central Terminal, further cementing RXR’s place as one of the leading players in this real estate market.
Silverstein Properties
Silverstein Properties is a full-service real estate development, investment, and management firm offering office, residential, hotel, retail, and mixed-use projects across New York City and other major markets. Their projects have earned them an excellent reputation for integrity and innovation while their headquarters remain in Manhattan, NY.
This company is best known for creating one of the world’s most acclaimed malls – Herald Square Complex in Manhattan on Gimbel’s department store site – under Larry Silverstein, an expert leader with vast real estate industry knowledge and experience.
Silverstein Properties provides its employees many benefits, including free lunches, flexible schedules, and a fun work atmosphere. Silverstein Properties has earned itself a stellar reputation for being an incredible workplace; many employees remain happy, and retention rates remain high. Furthermore, career advancement opportunities abound within Silverstein Properties while they have also been recognized for their dedication towards corporate social responsibility; Silverstein Properties makes for an excellent workplace in NYC for anyone seeking challenging yet rewarding work experience.
Boston Properties
Though an international real estate investment trust, this Manhattan real estate investment trust stands out thanks to its impressive residential portfolio of 26 buildings with 6,670 units. Focusing on green buildings such as Ten23 and 170 Amsterdam. Also notable as one of few landlords remaining that make an effort at rent-regulated apartments, making headlines when vowing to keep vacant apartments vacant in Stuyvesant Town as part of its response to new rent laws in NYC.
TF Cornerstone has long been established in New York’s skyline and boasts a varied multifamily portfolio in Manhattan, Brooklyn, and Queens. Their stellar reviews on Openigloo show their dedication and thoughtfulness in managing tenants’ needs.
Vornado Realty Trust
Publicly-traded firm Brookfield Place occupies more than 3.5 million square feet in New York and is one of the biggest landlords. While best known for its iconic office complex in downtown Manhattan, its reach extends beyond Manhattan with 105 strip malls and six regional malls across America. It is the largest owner of Toys “R” Us properties.
Luxury awaits in one of these properties from this developer, such as One Vanderbilt or Hudson Residences by architect Thomas Heatherwick.
The Related Companies may be best known for their megawatt Hudson Yards project, but their history dates back even further. Stephen Ross borrowed $10,000 from his mother to start their company; later, they powered projects such as Thomas Heatherwick’s High Line condo complex at 70 Vestry.
