Adam C. Hochfelder
Encyclopedia
Adam C. Hochfelder is an American
real estate executive who co-founded the real estate firm Max Capital in 1996, with members of the powerful Kalikow real estate family. He bought out Peter S. Kalikow
from his partnership because of a soured relationship in 2002. He was convicted, through a guilty plea, on May 21, 2010 of 18 counts of larceny and defrauding investors. He was 39 years old at the time. He was sentenced to prison on September 20, 2010 for a minimum of 2 years and eight months with a maximum of 8 years and ordered to pay restitution of $9.5 million. He contends he has already paid back $15 million to some of his victims. At its peak, Max Capital had ownership or management stakes in 8000000 square feet (743,224.3 m²) of space, including the Helmsley Building
, valued at as much as $2.7 billion. He used a pyramid process to leverage his property purchases from which he incurred excessive debt. His lawyer, Marc Agnifilo, argued that Adam Hochfelder had a cocaine addition which impaired his judgments, including his decision to buy out his partner, Kalikow. He went into rehabilitation in June 2008 at St. Lukes-Roosevelt Hospital in New York City. He had several subsequent operations to repair damage to the septum of his nose.
as had his grandfather. Adam was brought up on Long Island, in Old Westbury, NY and attended the University of Pennsylvania
's Wharton School of Business from which he graduated. He was married to Amy Meadow, with whom he had two sons. They were divorced in 2009.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
real estate executive who co-founded the real estate firm Max Capital in 1996, with members of the powerful Kalikow real estate family. He bought out Peter S. Kalikow
Peter S. Kalikow
Peter S. Kalikow is President of H. J. Kalikow & Company, LLC, one of New York City's leading real estate firms. He is the former Chairman of the Metropolitan Transportation Authority , former Commissioner of the Port Authority of New York and New Jersey, and past owner and publisher of the New...
from his partnership because of a soured relationship in 2002. He was convicted, through a guilty plea, on May 21, 2010 of 18 counts of larceny and defrauding investors. He was 39 years old at the time. He was sentenced to prison on September 20, 2010 for a minimum of 2 years and eight months with a maximum of 8 years and ordered to pay restitution of $9.5 million. He contends he has already paid back $15 million to some of his victims. At its peak, Max Capital had ownership or management stakes in 8000000 square feet (743,224.3 m²) of space, including the Helmsley Building
Helmsley Building
The Helmsley Building is a 35-story located at 230 Park Avenue in New York City. Before the erection of the Pan Am Building, now the MetLife Building, this building stood out over the city's second most prestigious avenue as it was the tallest structure in the great "Terminal City" complex around...
, valued at as much as $2.7 billion. He used a pyramid process to leverage his property purchases from which he incurred excessive debt. His lawyer, Marc Agnifilo, argued that Adam Hochfelder had a cocaine addition which impaired his judgments, including his decision to buy out his partner, Kalikow. He went into rehabilitation in June 2008 at St. Lukes-Roosevelt Hospital in New York City. He had several subsequent operations to repair damage to the septum of his nose.
Personal life
His father, James L. Hochfelder, was a former garment manufacturer (garmento) who had attended the University of PennsylvaniaUniversity of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
as had his grandfather. Adam was brought up on Long Island, in Old Westbury, NY and attended the University of Pennsylvania
University of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
's Wharton School of Business from which he graduated. He was married to Amy Meadow, with whom he had two sons. They were divorced in 2009.