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May 6, 2011

In latest Observer "100 Most Powerful" in New York Real Estate list, Prokhorov again leads Ratner, bike lanes called example of "Mrs. Moses"

Atlantic Yards Report

The New York Observer has chosen its fourth annual list of The 100 Most Powerful People in New York Real Estate and, once again, Nets majority owner Mikhail Prokhorov, inexplicably to me, was placed ahead of Atlantic Yards developer Bruce Ratner.

Well, the list (slideshow) "was chosen internally by The Observer using subjective criteria" and, below, I offer a few comments.

Note that the numbers in parentheses reflect last year's rank.
...

The Russian mogul

#24. Mikhail Prokhorov (43)

Controlling owner of the New Jersey Nets

When Mr. Prokhorov stepped forward last year as the new owner of the New Jersey Nets, he not only established himself as the latest real estate investor to interlope the city’s gridlock of property assets, but also forced himself onto Gotham’s cultural scene. So much so that New York magazine named him as the leader of the city’s “Global Russians.” Whether he can really make it in this town has yet to be seen, but, either way, for now he’s bought himself a ticket to the top.

Prokhorov owns a 45% stake in the arena holding company, which means he's less of a real estate investor than Bruce Ratner, and, as I wrote last year, Ratner has the connections and pays for the lobbying (and still does, as documented today). He's still more powerful, in my book.

A small bump-up for Bruce

#48. Bruce Ratner (53)

Chairman and CEO of Forest City Ratner

With the last of the lawsuits behind him, Mr. Ratner began work on what may still be the most cutting-edge arena in the country, even without Frank Gehry designing it. The developer is struggling to find financing for the first apartment tower on the site-but if he does, there are rumors it could be the largest prefabricated structure in the world, and something with the possibility to transform the way New York builds. And there is a certain Manhattan apartment building he and Mr. Gehry managed to finish together.

Not the largest, but the tallest prefab structure. And the last of the lawsuits still lingers.

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NY Observer, The 100 Most Powerful People in New York Real Estate

Posted by eric at May 6, 2011 10:45 AM