As one of the largest and most diversified privately held real estate companies in the United States, Lightstone is active in 21 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial and retail. Headquartered in New York City, Lightstone also maintains a presence in key markets across the country, with regional offices in Chicago, Baltimore, Detroit, New Jersey, and Las Vegas.
Our $2 billion portfolio currently includes over 6 million square feet of office, retail and industrial commercial properties, 11,000 residential units and 3,800 hotel keys. We also own over 12,000 land lots across the country.
In addition to the firm’s existing portfolio, we are one of the most active developers and operators of outlets malls in the United States, having developed, owned, and/or managed over 25 outlet malls, totaling approximately 8 million square feet.
Moreover, with a strong focus on the New York City market, we have approximately $2.5 billion worth of projects currently under development in the residential, hospitality and retail sectors.
Our passionate team of seasoned executives brings a wide range of experience to Lightstone, from all aspects of the real estate, investment, and development industry. As one of the most innovative firms in the business, we have attracted top talent in acquisitions, development, construction, management, finance, investment, accounting and law. Together, we form a best-in-class team, with a shared commitment to Lightstone’s continued growth and leadership.
Chairman and CEO
David Lichtenstein is Chairman and CEO of Lightstone, which he founded in 1988. Mr. Lichtenstein personifies Lightstone’s commitment to the highest standards of quality, integrity, and value. In addition to chairing the board of directors, he is responsible for directing all aspects of the acquisition, financing and management of the company’s diverse portfolio of multifamily, hospitality, retail, office, and industrial properties. Mr. Lichtenstein has built a reputation for his ability to navigate the real estate industry, identify successful real estate opportunities, and time the markets. Mr. Lichtenstein was appointed by New York City Mayor Bill de Blasio to the NYC Economic Development Corporation’s Board of Directors. The NYCEDC is New York City’s primary economic development vehicle. Mr. Lichtenstein is on the Board of Governors of the Real Estate Board of New York, a Trustee of the Citizens Budget Commission, and is a Member of The Economic Club of New York and the Real Estate Roundtable, and Co-Chair of the Real Estate Capital Policy Advisory Committee. He is also a member of the Brookings Institution’s Economic Studies Council and a trustee of The Touro College and University System and sits on the Board Supervisory Committee for The New York Medical College. Mr. Lichtenstein is a founder of the Friendship House, an organization that provides housing for families of sick children and adults in the Greater New York City area.
Mitchell C. Hochberg
Mitchell C. Hochberg is President of Lightstone. He has more than 30 years of experience in every facet of real estate development and operations, including the residential, hospitality, commercial, gaming and mixed-use sectors. He founded and for 20 years served as the President and Chief Executive Officer of Spectrum Communities, a premier residential developer in the northeastern United States. Thereafter, he served as President and Chief Operating Officer of Ian Schrager Company, a developer and manager of innovative luxury hotels and residential projects in the United States. Mr. Hochberg currently serves on the Board of Directors of Belmond Ltd. (NYSE: BEL; formerly Orient-Express Hotels Ltd.), as Chairman of the Investment Committee and member of the Audit and Nominating and Governance Committees. Mr. Hochberg is Chairman of the Board of Directors of WMC Health; a $2.2 billion, 10 hospital, regional healthcare network including trauma centers, community hospitals and the region’s only children’s hospital, spanning 6,200 square miles with a workforce of 12,000 people. Mr. Hochberg is an Attorney at Law and a Certified Public Accountant. He received his law degree as a Harlan Fiske Stone Scholar from Columbia University School of Law. He graduated magna cum laude from New York University College of Business and Public Administration with a Bachelor of Science degree in accounting and finance.
Seth D. MolodExecutive Vice President & Chief Financial Officer
Joseph E. TeichmanExecutive Vice President & General Counsel
Kara MorettExecutive Vice President, Human Resources
Scott J. AvramSenior Vice President, Development
Christopher BaxterSenior Vice President, Hospitality
Ariel FeldhamerSenior Vice President, Asset Management & Investments
Mark GreenSenior Vice President, Construction
Jonathan RabinowSenior Vice President, Investments & Capital Markets
Meir MilgraumDirector, Acquisitions and Development
Akiva ElazaryFirst Vice President, Investments and Asset Management
Lauren LevinSenior Vice President, Moxy Hotels Marketing & PR
Starting with a single $89,000 investment in a two-family house in 1986, founder David Lichtenstein has grown Lightstone into a real estate powerhouse, recognized as one of the largest privately held real estate firms in the United States.
In our first decade, we principally focused on multifamily residential properties, but in 2003 we turned our focus toward outlet malls as we believed it to be a growing and undervalued corner of the retail sector. Lightstone then purchased Prime Outlets, a 37-property chain of outlet malls, for $638 million, making us the largest owner of outlet malls in the United States. After providing hands-on management of the company for seven years, we transferred the assets to Simon in 2010 for $2.3 billion.
Next, in 2005, we expanded into the office building market, gaining a significant foothold with the purchase of a portfolio of office buildings. In 2005 we also debuted our first public non-traded REIT, having raised over $300 million from outside investors. This REIT is recognized as the highest net asset value of any non-traded REIT launched during its time and is highly acclaimed for successfully navigating the economic recession.
In 2011, we also began aggressively acquiring undervalued residential land around the country, growing our land bank portfolio to over 12,000 lots nationwide.
Over the last few years we have turned our attention to the hospitality sector. In identifying another undervalued asset class, we have acquired over 40 select service hotels across the country.
More recently, we have refocused our efforts on new development in New York City. We currently have approximately $2.5 billion of projects under development spread across the residential, hospitality, and retail sectors.
Our disciplined approach to investing has consistently generated outsized gains relative to risk through several real estate cycles. With our proven track record of hundreds of successful transactions and a dedicated growth strategy, we know that we have an approach that works.
We partner with some of the top banking, real estate, and hospitality institutions in the country. The quality of our partners speaks to their trust in Lightstone and our accomplished record.