Norman Sturner (born September 6, 1940) is an American real estate developer and co-founder and CEO of Murray Hill Properties.[1]
Norman Sturner | |
|---|---|
| Born | September 6, 1940 |
| Nationality | American |
| Education | B.A. St. John’s University |
| Known for | co-founder and CEO of Murray Hill Properties |
| Spouse | Harriet Sturner (m. 1959) |
| Children | Andrew Sturner David Sturner |
Biography
editSturner was born in the Bronx, New York[1][2] to a Jewish family and grew up in Bayside, Queens where he attended Bayside High School. He worked as a short-order cook when he was a teenager and entered college at the age of 16.[1] He is a graduate of St. John's University[3] where he majored in accounting.[2] After school, he first worked as an accountant.[2] and then moved on to become one of the largest mutual fund dealers in the country and owned a seat on the Philadelphia-Baltimore-Washington stock exchange. In 1971, he and his business partners, Neil Siderow[2][4] an owner of a life insurance agency, and Michael Green, purchased a building on the verge of default for $70,000 which led to additional purchases and began their career in real estate investment.[5]
Sturner focuses solely on commercial real estate in Manhattan; handling all aspects of development except construction - which is outsourced.[5] His strategy historically has been to purchase undervalued commercial properties in Manhattan[6] and improve them (typically upgrading lobbies and elevators) to attract a better class of tenants.[5] His firm has acquired and sold more than 150 properties with a value of more than US$10 Billion.[3] Sturner is a great believer in New York City stating: "New York is an island which cannot be moved anywhere and lose its value."[7]
Sturner was named a member of the Commercial Observer's “Power 100” in New York City. Sturner is an approved receiver by the New York State Office of Court Administration (OCA), is a member of Real Estate Board of New York (REBNY), is a member of the Association for a Better New York (ABNY), and serves as vice president of the executive committee of the Realty Foundation of New York.[6]
Personal life
editIn 1959, he married, Harriet Sturner, whom he met in high school.[1] They live in Short Hills, New Jersey[1] and have two sons:[1] Andrew Sturner who operates several marinas; and David Sturner who works at Murray Hill Properties.[8][9] He serves as a mentor to the Young Jewish Professionals Real Estate Network.[10]
References
edit- ^ a b c d e f The Real Deal: "Norman Sturner" By Candace Taylor retrieved January 20, 2014
- ^ a b c d New York Sun: "Norman Sturner Has the Midas Touch" By PRANAY GUPTE April 28, 2005
- ^ a b Murray Hill Properties: "Norman Sturner, President / CEO Archived 2014-02-02 at the Wayback Machine retrieved January 20, 2014
- ^ Commercial Observer: "Norman Sturner Rages Against the Dying of the Light" By Jotham Sederstrom July 26, 2010
- ^ a b c New York Times: "The 30-Minute Interview : Norman Sturner" by VIVIAN MARINO January 22, 2013
- ^ a b Leader's Magazine: "An Interview with Norman Sturner, President and Chief Executive Officer, Murray Hill Properties" January 1, 2013
- ^ MR Management: "Norman Sturner Addresses B'Nai B'Rith Real Estate" September 2012
- ^ Real Estate Weekly: "Real estate families making sure the kids are alright" November 5, 2013
- ^ Commercial Observer: "Like Father, Like Son: Murray Hill Properties’ David Sturner" By Billy Gray October 1, 2013
- ^ Young Jewish Professionals Real Estate Network: "Young Jewish Professionals Real Estate Network Holds All Star Panel" by Marc Becker Archived 2014-02-01 at the Wayback Machine November 13, 2009