Jeffrey Feil
Jeffrey Feil is a New York-based real estate developer and president and CEO of The Feil Organization.
Jeffrey Feil | |
|---|---|
| Born | 1947 (age 72–73) |
| Nationality | United States |
| Education | B.S. University of Cincinnati J.D. Brooklyn Law School |
| Occupation | real estate developer |
| Known for | president and CEO of The Feil Organization |
| Spouse(s) | Lee Feil |
| Parent(s) | Gertrude Cohen Feil Louis Feil |
| Family | Marilyn Feil Barry (sister) Judith Feil Jaffe (sister) Carole Feil (sister) |
Early life and education
Feil was born to a Jewish family, the only son of Gertrude (née Cohen)[1] and Louis Feil.[2] His father first worked in the fur business before investing into real estate in the 1950s.[3] He took a conservative approach using minimal debt and re-invested his profits which enabled him to grow his portfolio steadily and to survive the inevitable downturns.[4] His father's motto was "take care of your buildings and your buildings will take care of you."[4] Feil was raised in Rockville Centre, New York.[3] He has three sisters: Marilyn Barry (born 1938), Judith Jaffe (born 1940), and Carole Feil (born 1944).[3] Feil graduated with a B.S. from the University of Cincinnati and a J.D. from Brooklyn Law School.[5]
Career
In 1978, he joined The Feil Organization and after his father retired in 1988, he was running the organization.[4] His brother-in-law Stanley Barry, helped to manage the New York portfolio; his nephews, Justin and Eric Derfner, also worked for the Feil Organization.[3] In 1999, his father died with an estate estimated at $250 million.[3] In 2002, Feil was a founding partner of RCG Longview, a real estate financing company, separate from the Feil Organization.[5][6] RCG Longview and the Feil Organization, would often partner together to complete transactions.
In 2004, he was an investor in a group that purchased the 110-story Sears Tower in Chicago for $840 million with partners Joseph Moinian, Joseph Chetrit, and Lloyd Goldman, eventually changing the name to the Willis Tower in 2009.[7] After the real estate crash of 2008–2009, and backed by the real estate held by the Feil Organization, he made several large and lucrative purchases.[3] In 2009, he partnered with Lloyd Goldman and Stanley Chera to purchase for $117 million the retail space in The St. Regis Hotel; in 2012, they sold it for $380 million.[3] Also in 2009, he partnered with George Comfort & Sons to purchase One Worldwide Plaza for $590 million after developer Harry Macklowe turned the property over to his lenders after the real estate crash (Macklowe had paid $1.74 billion for it in 2008); in 2013, they sold 49% of the building to RXR Realty, LLC for $600 million.[8] In 2010, he co-developed Bakery Square in Pittsburgh.
As of 2013, the Feil Organization owns or manages over $7 billion in real estate spread over nine states[3] including the Fred F. French Building and the General Electric Building.[3]
Philanthropy
In 2011, Feil donated $3 million to the South Nassau Communities Hospital in Oceanside, New York to build a cancer center. The center was renamed The Gertrude & Louis Feil Cancer Center at South Nassau Communities Hospital.[9] Feil serves as a trustee for the Joan & Sanford I. Weill Medical College and Graduate School of Medicine; Yeshiva University, and Brooklyn Law School.[5] He also serves on the Board of Governors of the Real Estate Board of New York and is president of the Feil Family Foundation.[5] In 2013, Feil donated $28 million to establish the Feil Family Brain and Mind Research Institute at Weill Cornell Medical College.[10] Also in 2013, Feil and his wife Lee donated $5 million to the Peconic Bay Medical Center to open an ambulatory care campus in Manorville, New York. It will be named The Gertrude and Louis Feil Campus for Ambulatory Care.[11][12]
Personal life
Feil lives with his wife Eileen "Lee" Feil in Remsenburg, New York.[11] After his mother's death in 2006, his three sisters accused him of withholding distributions from their father's estate. The matter is currently being litigated.[13][14][15]
References
- New York Times: "Paid Notice: Deaths FEIL, GERTRUDE (NEE COHEN)" January 6, 2006
- New York Times: "Paid Notice: Deaths FEIL, LOUIS" February 5, 1999
- Wall Street Journal: "Real-Estate Family Wars With Itself – Feil Siblings Grapple With Empire Created by Their Father" By Sarah Rose and Peter Grant September 2, 2013
- Wall Street Journal: "Read Jeffrey Feil's Response to Sisters' Lawsuit" November 30, 2012
- RCG Longview website: "Jeffrey J. Feil – Founding Partner" retrieved November 10, 2013
- Real Estate Weekly: "One man, two hats. (Profile of the Week: John Estreich)" December 18, 2002
- New York Observer: "Joseph Chetrit, the Most Mysterious Big Shot in New York Real Estate" by Tom Acitelli July 5, 2011
- Bloomberg: "Rechler Said to Buying 49% of New York’s Worldwide Plaza" By David M. Levitt June 5, 2013
- Rockville Center Patch: "RVC Resident Jeffrey Feil Donates $3M to South Nassau – The philanthropic gift will benefit the hospital’s cancer center" by Christina Shanahan July 6, 2011
- Medical news website: "Weill Cornell Medical College sets up new Feil Family Brain and Mind Research Institute" April 9, 2013
- The Southampton Press "Record-Breaking Donation Will Help Fund Peconic Bay Medical Center's New Ambulatory Care Center" By Erin McKinley March 27, 2013
- Newsday: "New medical campus unveiled in Manorville" By MITCHELL FREEDMAN March 22, 2013
- Commercial Observer: "Feil Family Battles over Fortune" By Gus Delaporte September 3, 2013
- The Real Deal: "Florida-based investor suing Feil to open books at two UES apartment buildings" By David Jones March 28, 2012
- The Real Deal: "Real estate’s biggest feuds - A look at the bitter family battles that have pitted siblings against siblings and parents against children -- from the Feils to the Macklowes" By C.J. Hughes December 01, 2013
https://www.wsj.com/articles/real-estate-empire-survives-brutal-family-battle-1494932405