Stephen Siegel
Encyclopedia
Stephen B. Siegel is the Chairman of Global Brokerage at CB Richard Ellis
NYSE: CBG (known as CBRE), the world's largest commercial real estate
services company.
Siegel was featured in the Urban Land Institute
's book, Leadership Legacies: Lessons Learned from Ten Real Estate Legends. The previous year, Mr. Siegel was honored with Commercial Property News Lifetime Achievement Award and named by Crain’s as one of the 100 Most Influential Business Leaders in New York City.
, Thailand and Latin America
. He also managed a group that completed approximately $2 billion in co-investments in a wide range of U.S. office, residential, hotel and retail real estate portfolios.
Throughout his career, he has arranged transactions for some of the US's most prominent corporate clients including J.P. Morgan Chase & Co.
, Sidley Austin
Brown & Wood LLP, Fried, Frank, Harris, Shriver & Jacobson
LLP, Amerada Hess Corp.
, Sanford C. Bernstein & Co., Swiss Re
insurance, MetLife
, Cerberus Capital Management
and Akin, Gump, Strauss, Hauer & Feld LLP
.
in Manhattan — the most valuable retail deal ever completed — on behalf of The Trump Organization, a transaction that was recognized by the Real Estate Board of New York as 2006’s Most Creative Retail Deal of the Year. He also advised Hudson Waterfront Associates, a partnership of several overseas investors, on the acquisition of 1290 Avenue of the Americas
for $1.25 billion, and then re-sold it one year later to Vornado Realty Trust
. In addition, Siegel arranged the $306 million sale of the parcel on the southeast corner of 42nd Street and Eighth Avenue, the last developable site within the 42nd Street Development Project, to SJP Properties, which is constructing Eleven Times Square
, a one million-sq.-ft. office property, on the site.
In 2006, Siegel along with partners Andrew and Joseph Goldberg, purchased La Rochelle, an 87-unit pre-war rental apartment building on Manhattan's Upper West Side.
To maximize profits, the partners systematically evicted many long-term tenants and destroyed the long-stable community nature the building possessed.
He founded the AHRC-NYC's "Stephen B. Siegel Adult Day Care Center" (located in Fulton Landing, New York); inducted into the group's Hall of Honor in 1999
The Foundation Fighting Blindness Humanitarian Award in 1999
He holds honorary Doctorate
degrees from St. Thomas Aquinas College
, Commercial Science, 2007, Baruch College
, 2003, Monmouth University, commencement 2003
Honored by:
The Young Men's/Women's Real Estate Association
Siegel is a member of Board of Directors of The Jazz Foundation of America
.
CB Richard Ellis
CBRE Group, Inc. , a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm . The Company has approximately 31,000 employees , and serves real estate owners, investors and occupiers through more than 300 offices worldwide...
NYSE: CBG (known as CBRE), the world's largest commercial real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
services company.
Siegel was featured in the Urban Land Institute
Urban Land Institute
The Urban Land Institute, or ULI, is a non-profit research and education organization with offices in Washington, D.C., Hong Kong, and London...
's book, Leadership Legacies: Lessons Learned from Ten Real Estate Legends. The previous year, Mr. Siegel was honored with Commercial Property News Lifetime Achievement Award and named by Crain’s as one of the 100 Most Influential Business Leaders in New York City.
Early career
Siegel was Chairman and CEO of Insignia/ESG prior to the merger with CBRE. He was largely responsible for the global expansion of the firm, nationwide as well as throughout Europe, Japan, Hong Kong, ChinaHong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
, Thailand and Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
. He also managed a group that completed approximately $2 billion in co-investments in a wide range of U.S. office, residential, hotel and retail real estate portfolios.
Throughout his career, he has arranged transactions for some of the US's most prominent corporate clients including J.P. Morgan Chase & Co.
JPMorgan Chase & Co.
JPMorgan Chase & Co. is an American multinational banking corporation of securities, investments and retail. It is the largest bank in the United States by assets and market capitalization.It is a major provider of financial services, with assets of $2 trillion and according to Forbes magazine is...
, Sidley Austin
Sidley Austin
Sidley Austin LLP, formerly known as Sidley Austin Brown & Wood LLP, is one of the oldest law firms in the world. It is the sixth-largest U.S.-based corporate law firm with more than 1,650 lawyers, annual revenues of more than one billion dollars, and offices in 17 cities worldwide, with the most...
Brown & Wood LLP, Fried, Frank, Harris, Shriver & Jacobson
Fried, Frank, Harris, Shriver & Jacobson
Fried, Frank, Harris, Shriver & Jacobson LLP is a law firm founded in New York City in the early 20th century that has grown into an international law firm with offices in New York City, Washington, DC, London, Paris, Frankfurt, Hong Kong and Shanghai. The firm has 468 attorneys worldwide...
LLP, Amerada Hess Corp.
Hess Corporation
The Hess Corporation is an integrated oil company based in New York City. The company explores, produces, transports, and refines crude oil and natural gas. Vertically completing the logistical chain, about 1,360 Hess branded filling stations market gasoline to consumers in 16 states along the...
, Sanford C. Bernstein & Co., Swiss Re
Swiss Re
Swiss Reinsurance Company Ltd , generally known as Swiss Re, is a Swiss reinsurance company. It is the world’s second-largest reinsurer, after having acquired GE Insurance Solutions. The company has its headquarters in Zurich...
insurance, MetLife
Metropolitan Life Insurance Company
MetLife, Inc. is the holding corporation for the Metropolitan Life Insurance Company, or MetLife, for short, and its affiliates. MetLife is among the largest global providers of insurance, annuities, and employee benefit programs, with 90 million customers in over 60 countries...
, Cerberus Capital Management
Cerberus Capital Management
Cerberus Capital Management, L.P. is one of the largest private equity investment firms in the United States. The firm is based in New York City, and run by -year-old financier Steve Feinberg. Former U.S...
and Akin, Gump, Strauss, Hauer & Feld LLP
Akin Gump Strauss Hauer & Feld
Akin Gump Strauss Hauer & Feld LLP is a law firm founded in Dallas, Texas, in 1945 by Robert Strauss and Richard Gump. The firm now numbers more than 800 attorneys and advisers in the United States, Europe, the Middle East and Asia...
.
Recent work
In recent years, Siegel negotiated Gucci Group's lease at Trump TowerTrump Tower
Trump Tower or Trump Towers may refer to one of several skyscrapers owned and operated by Donald Trump:Trump Tower* Trump Towers * Trump Towers * Trump Tower * Trump Tower...
in Manhattan — the most valuable retail deal ever completed — on behalf of The Trump Organization, a transaction that was recognized by the Real Estate Board of New York as 2006’s Most Creative Retail Deal of the Year. He also advised Hudson Waterfront Associates, a partnership of several overseas investors, on the acquisition of 1290 Avenue of the Americas
Sixth Avenue (Manhattan)
Sixth Avenue – officially Avenue of the Americas, although this name is seldom used by New Yorkers – is a major thoroughfare in New York City's borough of Manhattan, on which traffic runs northbound, or "uptown"...
for $1.25 billion, and then re-sold it one year later to Vornado Realty Trust
Vornado Realty Trust
Vornado Realty Trust is a New York based real estate investment trust. It is the inheritor of real estate formerly controlled by companies including Two Guys and Alexander's.- History :...
. In addition, Siegel arranged the $306 million sale of the parcel on the southeast corner of 42nd Street and Eighth Avenue, the last developable site within the 42nd Street Development Project, to SJP Properties, which is constructing Eleven Times Square
Times Square
Times Square is a major commercial intersection in the borough of Manhattan in New York City, at the junction of Broadway and Seventh Avenue and stretching from West 42nd to West 47th Streets...
, a one million-sq.-ft. office property, on the site.
In 2006, Siegel along with partners Andrew and Joseph Goldberg, purchased La Rochelle, an 87-unit pre-war rental apartment building on Manhattan's Upper West Side.
To maximize profits, the partners systematically evicted many long-term tenants and destroyed the long-stable community nature the building possessed.
Achievements
- American Jewish Committee’s 2007 Real Estate Division National Human Relations Award
- Israel Bonds' Real Estate and Construction Division’s 2007 Israel Peace Medal for his leadership in building Israel's economy through the Israel Bonds program
- The Real Estate Board of New York’s inaugural Edward S. Gordon Memorial Award in 2004 for the purchase of 230 West 41st Street
- The Real Estate Board of New York’s 2003 Henry Hart Rice Achievement Award for the Most Ingenious Deal of the Year for the sale of the McGraw-Hill Companies’ interest in 1221 Avenue of the Americas
- Crohn's & Colitis Foundation "Man of the Year" Award in 2002
- National Ethnic Coalition of Organizations' Ellis Island Medal of HonorEllis Island Medal of HonorThe Ellis Island Medal of Honor was founded by the National Ethnic Coalition of Organizations and intended to pay homage to the immigrant experience. The medals honor the contribution made to America by immigrants and the legacy they left behind in the successes of their children and grand-children...
in 2002 - Five-time winner of Commercial Property News’ Brokerage Executive of the Year Award
- Monmouth UniversityMonmouth UniversityMonmouth University is a private university located in West Long Branch, New Jersey, United States.Founded in 1933 as Monmouth Junior College, it became Monmouth College in 1956, and later Monmouth University in 1995 after receiving its charter....
Real Estate Institute's Leadership Excellence Award in 2001 - New York UniversityNew York UniversityNew York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
Real Estate Institute's Urban Leadership Award in 2000
He founded the AHRC-NYC's "Stephen B. Siegel Adult Day Care Center" (located in Fulton Landing, New York); inducted into the group's Hall of Honor in 1999
The Foundation Fighting Blindness Humanitarian Award in 1999
He holds honorary Doctorate
Honorary degree
An honorary degree or a degree honoris causa is an academic degree for which a university has waived the usual requirements, such as matriculation, residence, study, and the passing of examinations...
degrees from St. Thomas Aquinas College
St. Thomas Aquinas College
St. Thomas Aquinas College is a private four-year liberal arts college in Rockland County, New York that occupies a forty-eight acre campus. Located at 125 Route 340 in Sparkill, New York, the college is named after the medieval philosopher and theologian Thomas Aquinas...
, Commercial Science, 2007, Baruch College
Baruch College
Bernard M. Baruch College, more commonly known as Baruch College, is a constituent college of the City University of New York, located in the Flatiron district of Manhattan, New York City. With an acceptance rate of just 23%, Baruch is among the most competitive and diverse colleges in the nation...
, 2003, Monmouth University, commencement 2003
Honored by:
The Young Men's/Women's Real Estate Association
Siegel is a member of Board of Directors of The Jazz Foundation of America
Jazz Foundation of America
The Jazz Foundation of America is a non-profit organization based in Manhattan, New York founded in 1989. The JFA’s programs help jazz and blues musicians in need of emergency funds and connect them with performance opportunities in schools and the community...
.
External links
- http://www.cbre.com/USA/US/NY/New+York+Lex/pprofile/stephensiegel.htm
- http://www.observer.com/2007/big-office-broker-stephen-siegel-talks-rents-rivalry-rudy
- http://www.nationaljewish.org/news/y2006/siegel-trustee.aspx
- http://ny.therealdeal.com/articles/the-closing-stephen-siegel