Howard Lorber

Howard Lorber

Jun 17, 2019 未分类 by wh1

Here s how much money Howard Lorber made in 2017 Brokerage chief’s pay dropped $425K from 2016

125 Greenwich Street, Madison Square Park Tower, 1 Seaport and Howard Lorber (Credit: Douglas Elliman and Getty Images)

Douglas Elliman chief Howard Lorber earned $10.6 million last year — a modest drop following a year in which the residential brokerage struggled with profitability.

Lorber s haul included a base salary of $3.198 million, plus a $3.157 million bonus. His total compensation dropped $425,000 from 2016, when he pocketed $11.059 million, according to a proxy statement filed Monday by Elliman s parent company, Vector Group.

The Elliman chairman is among real estate s highest-paid executives. General Growth Property s Sandeep Mathrani took home $12.2 million in 2016 and Vornado Realty Trust s Steven Roth pocketed $11.151 million that year, according to the most recent filings for those companies.

Lorber s payday for both 2016 and 2017 fell well short of the $42.54 million he banked in 2015 — though the majority of that compensation was in the form of stock awards that vest gradually over time.

As of Jan. 1新爱上海同城对对碰论坛

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, Lorber s base pay was bumped up to $3.25 million.

Like prior years, his perks in 2017 included a company car and driver; $7,500-per-month stipend for lodging and business expenses; two clu上海龙凤论坛

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b memberships and use of the company plane.

The filing also disclosed that Lorber s son, Michael Lorber, an agent at Douglas Elliman, made $786,754 as a broker in 2017.

Howard Lorber is Vector s fifth-largest sh上海千花网论坛

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areholder with 7.6 million shares — or 5.6 percent — of the company s stock, according to the proxy statement. Shares closed at $21.18 on Monday.

Elliman sold $26.1 billion worth of real estate last year, up 6.1 percent from 2016. But it was a tough year for the firm — and other residential brokerages — because of a slowdown in new development closings. For the full year, the company s revenue rose 7 percent to $722.3 million. Net income rose 1.4 percent to $21.4 million.

I would not say it was a stellar year, Lorber said during Vector s March 1 earnings call, during which he attributed爱上海同城论坛

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the higher sales volume to Elliman s acquisitions of Los Angeles-based Teles and Boston-based condo specialists Otis Ahearn.

He also highlighted the impending sale of 701 Seventh Avenue, where Vector s New Valley subsidiary is a part owner with Steve Witkoff, Ian Schrager, Winthrop Realty Trust, along with Maefield Development and Fortress Investment Group. In February, Maefield and Fortress signed a contract to buy out their other partners in a deal that values the property at $1.53 billion.

That will show good returns, Lorber said on the call. We ll probably slow down on the new investments, but we have a lot of product that should get monetized this year and in the next year.

Tags: Douglas Elliman,爱上海同城对对碰

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Howard Lorber, Residential Real Estate
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