Adam Silfen Appointed President of LeFrak as It Grows
Adam Silfen Takes the Helm at LeFrak
In a historic move, LeFrak has appointed Adam Silfen as President and Chief Operating Officer. This landmark decision marks the first instance in the company's 120-year history where a non-family member is invited to join the executive leadership team. Silfen, who has been with the firm for over 20 years, will work closely with Executive Chairman Richard LeFrak and his sons, Harrison and Jamie, who serve as Vice Chairmen.
A Strategic Appointment for Growth
Snefer has taken on numerous roles within LeFrak, most recently serving as Senior Managing Director, overseeing Acquisitions and Capital Markets. His extensive experience makes him an ideal candidate to help guide day-to-day operations as the company expands its residential portfolio and explores new markets, particularly in the U.S. Southeast. Richard LeFrak acknowledged the significance of this appointment, describing it as a testament to Silfen's exceptional talent and ability to navigate the complexities of the real estate industry.
LeFrak’s Ambitious Development Plans
LeFrak has undergone remarkable transformation over the years, evolving from its origins in New York City to include a diverse array of luxury properties across New Jersey, Florida, and the West Coast. With approximately 1,500 residential units currently under development, the company also holds an additional inventory allowing for the construction of 16,000 multifamily homes. In the last decade alone, LeFrak has introduced over 3,000 market-rate units and is setting its sights high for the coming years.
Silfen's Vision Moving Forward
Expressing his gratitude for the trust placed in him by the LeFrak family, Silfen emphasized that he is eager to assist in further strengthening the company and capitalizing on growth opportunities. His background includes significant experience with Goldman Sachs, followed by his tenure at LeFrak, interrupted by a venture into distressed-debt workouts during the financial crisis. This unique path has equipped him with a solid foundation to lead the company into its next chapter.
About LeFrak
As a leading family-owned real estate firm, LeFrak is committed to community development and investment. It boasts a portfolio concentrated in the metropolitan areas of New York/New Jersey, South Florida, and the West Coast. Following its dedication to expanding residential options, the company aims to reinforce its reputation as a formidable player in the real estate market.
Frequently Asked Questions
Who is Adam Silfen?
Adam Silfen is a seasoned real estate executive who was recently appointed as LeFrak's President and Chief Operating Officer, making history as the first non-family member to join the executive team.
What is LeFrak's primary focus?
LeFrak focuses on developing residential properties and expanding its portfolio in various U.S. markets, particularly aiming for growth in the Southeast region.
What is the significance of Silfen’s appointment?
Silfen's appointment signifies a strategic step towards modernization and growth at LeFrak, reflecting a blend of experienced leadership and fresh perspectives.
How long has Silfen been with LeFrak?
Silfen has been affiliated with LeFrak for more than two decades, showcasing his extensive experience in the real estate sector.
What are LeFrak's expansion goals?
LeFrak aims to significantly increase its residential units and explore new market opportunities, signaling an aggressive growth strategy in the coming years.
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