LeFrak Appoints Non-Family Executive, Adam Silfen, to Key Role in Growth Strategy

LeFrak Brings a New Era with Its First Non-Family Executive

In a significant move for the company, LeFrak, one of the largest privately-owned real estate development firms in the United States, has appointed Adam Silfen as the President and Chief Operating Officer, a newly established position that introduces a non-family member into its executive team for the first time in the company’s 120-year history.

LeFrak has a rich legacy as a pioneer in affordable real estate development in New York City. Yet, its expansion into luxury properties across New Jersey, Florida, and the West Coast has signified a shift in its operational approach. Silfen, who has more than two decades of connection with the firm, brings invaluable experience to this role. Prior to this new position, he served as Senior Managing Director, overseeing acquisitions and capital markets. His recent experiences have equipped him to help lead LeFrak as it broadens its scope and elevates its operational capacity.

Richard LeFrak, Executive Chairman and a steward of the company since 2003, expressed his confidence in Silfen's capabilities, stating, "Adam's appointment is a significant milestone for our company and a recognition of his great talent." This reflects a progressive strategy within the firm, aiming to incorporate fresh perspectives to adapt to an evolving real estate landscape.

The company's considerable growth trajectory demands skilled leadership, and Silfen is poised to enhance everyday operations while directing LeFrak's expansion into new markets, notably in the Southeast United States. In recent years, the company has set ambitious development targets, with nearly 1,500 residential units currently under construction and an extensive pipeline of future projects accommodating thousands of multifamily homes across available land in both New Jersey and Florida.

Silfen expressed his enthusiasm, stating, "I am honored by the trust that Richard, Harrison, and Jamie have placed in me with the creation of this new position. I am excited to help them strengthen and grow the company." His vision will be critical as the firm strategically adapts to market demands while maintaining quality and community focus across its operations.

Silfen's professional journey began at Goldman Sachs, an environment that honed his financial acumen, before joining LeFrak in 2003. After a brief departure where he navigated distressed-debt scenarios during the financial crisis, he returned to the company in 2013, a move that further solidified his commitment to its future.

As LeFrak continues to evolve from its historical foundations, the appointment of Adam Silfen heralds not only a shift in leadership dynamics but also in the company’s operational vision. This marks a pivotal juncture in reimagining the firm's trajectory while aligning with the changing demands of residential landscapes. The employment of a seasoned professional from outside the family underscores a trend toward inclusivity in leadership that may set a precedent for other traditional family-owned firms.

With ongoing developments and ambitious expansion plans, LeFrak's future appears bright under the strategic guidance of Adam Silfen and the LeFrak family. The emphasis will remain on building not just physical structures, but also a vibrant community-backed ethos that has defined the company for over a century.

For further updates on LeFrak's developments and initiatives, visit their official website or follow them on social media.