The name Lefrak has been synonymous with middle-class housing in New York for decades thanks to the family’s massive LeFrak City development in Queens. But recently, the company has branched out into more luxury-style buildings in Miami and Seattle. Harrison Lefrak, a vice chairman of the firm, is one of its key players.
The billionaire scion of the sprawling real estate firm is reportedly splitting from his wife, Katherine Embiricos LeFrak. The two married within the last five years and have a son together, Page Six reports. Harrison is co-managing director of the LeFrak Organization, a position he shares with his brother James and father Richard. He also runs the family’s private foundation and has investments outside of real estate in energy, securities and private businesses.
Harrison Lefrak’s Impact on New York’s Real Estate Landscape
In South Florida, the family has a stake in Miami Beach’s Four Seasons Residences at Collins Avenue and Normandy Isle. In January, private equity firm founder Doug Kimmelman paid $35 million for a penthouse in the south tower—the priciest sale to date. In addition, the company co-developed 1 Hotel & Homes in Miami Beach with Barry Sternlicht and is working on Sole Mia in North Miami.
Harrison Lefrak’s firm invests in “opportunistic opportunities in commercial and residential real estate throughout the Tri-State area and Florida,” according to his biography on Instrumentl, which connects funders with nonprofits. The firm aims to target markets with high barrier-to-entry and a history of stability, and it seeks out projects that can capitalize on demand when supply cannot keep up with demand.