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Robert Kaufman passed away earlier this year, and since then an unusual transition has taken place at one of NYC’s real estate dynasties.
Jonathan Iger, Kaufman’s grandson, just took the reins at the William Kaufman Organization instead of his father, who opted to continue the practice of law rather than run the business, the Wall Street Journal reports. Jonathan says he plans to add to the family portfolio, and he’s already gearing up by hiring more staff in the company’s finance division.
But he won’t be tapping into any of the firm’s existing buildings to fuel the expansion. “They are not mine to leverage,” he says. “They are there to create family wealth.” [WSJ]
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