Fisher Brothers

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Fisher Brothers
Private
Industry Real estate development
Investment company
Founded 1915
Founders Martin Fisher
Larry Fisher
Zachary Fisher
Headquarters New York City, United States
Key people
Arnold Fisher
(senior partner)
Website fisherbrothers.com

Fisher Brothers is a real estate firm in New York City. It was formed by Martin Fisher, Larry Fisher, and Zachary Fisher in 1915.[1] The Fisher family has substantial real estate holdings in New York City and elsewhere and are considered one of the "royal families" of New York real estate, alongside such clans as the Dursts, Roses, Rudins, and Tishmans.[1] The family's fortune was estimated at $800 million in 1988.[2]

History[edit]

The Fisher family construction company was founded in 1915 by Martin Fisher. Brothers Larry Fisher and Zachary Fisher soon joined to form Fisher Brothers.[1] They worked as contractors building homes in Brooklyn, Queens, Long Island, Riverdale, and Mount Vernon.[3][4] By the mid-1950s, they had branched out into commercial construction and management.[5] In the 1970s, Fisher Brothers continued to diversify, developing Midtown Manhattan office buildings at 1345 Avenue of the Americas, 605 Third Ave., and 299 Park Ave.[4]

Second generation partners Richard, Anthony, and Arnold Fisher led the firm in the 1980s, brokering deals which included the acquisition of a nine-acre parcel south of the United Nations Headquarters, one of the city’s largest available development sites, and the expansion of the Securities and Exchange Commission headquarters in Washington.[6][7]

The family invested in other businesses including banking, and once owned a stake in CBS. The company has been listed in the Fortune 500.[8]

In 2004, Fisher Brothers partnered with Morgan Stanley to form the $770 million City Investment Fund, intended to stimulate investment in Manhattan in the wake of the September 11 attacks.[4][9]

The firm is currently led by second generation partner Arnold Fisher as well as third generation partners Kenneth, Steven, and Winston Fisher.

Properties[edit]

The firm manages 6.5 million square feet in commercial property in New York City,[10] including Park Avenue Plaza, 1345 Avenue of the Americas, 299 Park Avenue, 49 East 52nd Street, and 605 Third Avenue. It also manages 1.5 million square feet of commercial property in the Station Place complex in Washington, DC.[11]

Residential properties in New York include Beekman Tower, Chartwell House, 101 W. 87th Street, 111 Murray Street, 225 E. 39th Street, and 37 Warren Street.

Philanthropy[edit]

The Fisher Brothers Foundation supports charities including New York Presbyterian Hospital, New York’s Finest Foundation, the Police Athletic League, and Lincoln Center.[12]

Larry and Zachary Fisher were instrumental in the establishment of the Intrepid Sea, Air & Space Museum.[4]

Zachary Fisher founded the Fisher House Foundation, which builds residential properties near military and VA medical centers, offering free lodging to family members of hospitalized military personnel.[5][12]

The Fishers also founded the Intrepid Fallen Heroes Fund, which gives aid to the families of U.S. soldiers who died while in military service[5][12] and builds centers for the treatment of combat trauma.[13]

References[edit]

  1. ^ a b c Saxon, Wolfgang (February 7, 2001). "Larry Fisher, 93, developer and philanthropist". New York Times. Retrieved 2012-08-02. 
  2. ^ Forbes magazine, cited in Glaberson, William (March 18, 1993). "New group considering bid for Post". New York Times. Retrieved 2012-08-02. 
  3. ^ "An Interview with Winston C. Fisher, Partner, Finance, Acquisitions and New Development, Fisher Brothers". LEADERS. April 2013. 
  4. ^ a b c d "Forging Ahead After Tragedies". The Wall Street Journal. December 8, 2013.  (subscription required)
  5. ^ a b c "Fisher House: All about Family". Philanthropy Roundtable. Fall 2010. 
  6. ^ Santos, Fernanda (August 7, 2006). "Richard L. Fisher, 65, Developer and Far-Ranging Philanthropist, Dies". The New York Times. 
  7. ^ Kelley, Tina (April 5, 2003). "M. Anthony Fisher, 52, Partner In a Leading Real Estate Firm". The New York Times. 
  8. ^ Hunter, Brad (April 5, 2003). "Crash miracle: Plane teen survives as N.Y. developer dad dies". New York Post. 
  9. ^ Satow, Julie (July 8, 2007). "Second all-city real estate fund gearing". Crain's New York Business. Retrieved 2015-02-12. 
  10. ^ "Commercial Property Managers". Crain's. October 31, 2014. 
  11. ^ "Mack-Cali, Fisher Brothers to acquire development project in DC" (Press release). Mack-Cali Realty Corporation. December 16, 2013 – via Bloomberg Business. 
  12. ^ a b c "Fisher Brothers Real Estate to Build Tallest Apartment Building in Lower Manhattan". Jewish Business News. April 24, 2014. 
  13. ^ Dao, James (June 12, 2012). "Group Planning Centers to Treat Combat Trauma". The New York Times. 

External links[edit]