About RFR Holding LLC
Location Type Single Location
State of Incorporation New York
Annual Revenue Estimate $50 to 100 million
SIC Code 653118, Real Estate
NAICS Code 531210, Offices of Real Estate Agents & Brokers
Employees 20 to 49
Avy Rosen, Owner
Greg Gilfoil, Finance Executive
Land Subdividers and Developers, Commercial in New York, NY
Subdivider/Developer Nonresidential Building Operator
Offices of Real Estate Agents & Brokers
RFR Holding LLC is a Manhattan based, privately controlled real estate investment, development and management company founded in 1991 by Aby Rosen and Michael Fuchs.
Aby RosenCo-Founder and Principal
Michael FuchsCo-Founder and Principal
The two partners took their childhood friendship and family backgrounds in real estate to thrive in the world’s most competitive real estate marketplace – New York City. Today the firm is known for owning and managing some of Manhattan’s most prestigious signature office properties, including 375 Park Avenue (The Seagram Building) and 390 Park Avenue (Lever House).
RFR has built a world-class portfolio of commercial and residential real estate, including many of New York’s signature office towers, ultra-luxury condominiums, hotels and high-end retail developments. The company’s unique combination of European sophistication and American ingenuity has brought the firm to the forefront of the real estate industry. The RFR team expertise leads the industry in operating, developing, leasing and managing world-class properties.
“Our proven track record is a reflection of adding significant value to real estate acquired through property-level repositioning, strategic financial engineering, two decades of experience in all phases of property life cycles, and leveraging all market opportunities,” comments Aby Rosen.
RFR’s diverse portfolio constitutes commercial assets, complemented by significant holdings and investments in residential, hotel and retail real estate. Mr. Rosen and Mr. Fuchs, and their team of highly respected and experienced real estate professionals, have a knack for anticipating strong markets when examining leasing and marketing trends. Such talent has made RFR a quality owner and market leader with a proven track record of adding significant value to acquired properties.
Michael Fuchs and Aby Rosen began investing in New York real estate during the recession of the early 1990’s.
While they are life-long friends who grew up together in Frankfurt, Germany, Fuchs and Rosen arrived in New York City separately. After earning a law degree from the Wolfgang Goethe University in Germany, Mr. Rosen took a position with Jones Lang Wootton in Manhattan, while Mr. Fuchs earned an M.B.A. at the University of Southern California before relocating to New York City. Fuchs and Rosen formed RFR in 1991 as the company began buying distressed assets from agencies, such as the Resolution Trust Corporation, which was liquidating assets held by troubled lending institutions.
With a fairly modest portfolio, RFR had the foresight to realize great value appreciation while improving its property operations, infrastructure, and aesthetic qualities.
“We acquired well-located development sites from lenders eager to dispose of assets taken back in foreclosure,” explains Rosen. “We also targeted under-managed office buildings, which in turn created tremendous value for these operating properties through proactive leasing programs and strategic asset management. “
This invaluable experience led to RFR’s ambitious acquisition campaign and a portfolio expanding to 18 commercial properties by the end of 2000, including the architectural icons, the Seagram Building and Lever House in the heart of Manhattan’s highly coveted Midtown business district.
RFR’s residential portfolio was launched with construction of the 300 East 64 Street development in 1994, during Manhattan’s recovery cycle before purchasing the Equitable Life portfolio of residential condominium and cooperative residents in 1996, which failed to sell during the real estate slow-down that started in the late 1980s. While generating profitable returns, RFR continued to sharpen its deal making skills, building an invaluable web of industry and capital markets relationships and earning a reputation for delivering successful investment results through smart, strategic and proactive property management and leasing.
In 2000, RFR began to diversify both by property type and geographic market, acquiring additional properties in the Greater New York City metropolitan area, as well as in Las Vegas, Miami Beach and Germany. RFR’s portfolio grew from a core base of office and residential to retail and hotel properties, providing additional capital to continue development efforts and repositioning across the hotel and retail sectors while maintaining an exceptionally vigorous residential development program.
Today, RFR is known throughout the real estate industry as an all-encompassing real estate developer, owner, operator, and sponsor with deep experience in all phases of property life cycles.
Over the past two decades, the Principals at RFR have assembled a team of the industry’s leading senior executives with an average of more than 20 years’ experience in real estate investment, development and asset management.
RFR’s portfolio has since grown to include investments that span the full spectrum of property types and are located in key markets in the United States and Germany.
RFR acquires and develops well-located buildings and actively creates value through increased property cash flow, rather than passive asset management. The Company and its Principals seek to improve a building’s tenant profile and upgrade the property through selective capital expenditures. The Principals are also known for having strong market foresight with regard to leasing and market trends in all property types.
The RFR team consistently identifies and orchestrates timely and high-quality investment opportunities to create long-term value. The company’s investment philosophy emphasizes both the financial and design quality of each property.
“Our goal is to maximize the economic returns of our assets while honoring the aesthetic design and spirit of each property,” commented Rosen.
With that in mind, RFR has a long-established public arts program, intersecting art and real estate that improves the urban landscape and tenant experience while reinforcing RFR’s brand value in core markets.
An established leader in the New York City office market, RFR is an organization that combines institutional infrastructure and an entrepreneurial culture with the right approach to meet the needs of a constantly shifting, highly sophisticated tenant base and investment market.
During the past 25 years, RFR has assembled a world-class portfolio exceeding 100 properties across
the office, retail, hotel and
RFR’s properties are located mainly in Manhattan, followed by Miami and Las Vegas and in key German commercial markets.
RFR Realty grew its office and retail portfolio through acquiring and repositioning existing properties in prime New York City locations. The company continues to invest in capital improvements and its Manhattan portfolio remains in both high-tenant demand and occupancies.
Throughout the real estate downturn, office building rents and occupancies have surpassed the 90 percent mark in such RFR trophy assets as The Seagram Building and Lever House, which continue to achieve the highest rental rates in all of New York City. In addition to more than six million square feet of commercial space that RFR controls in New York, the firm also maintains affiliates controlling numerous residential developments throughout Manhattan.