Robert K. Futterman
|Robert K. Futterman|
|Born||1958 (age 59–60)|
|Occupation||Real estate developer|
|Known for||Founder of Robert K. Futterman & Associates|
Robert K. Futterman (born 1958 in Long Island, New York) is the founder, chairman & chief executive officer of Robert K. Futterman & Associates (RKF), a retail leasing, investment sales and consulting services real estate firm. Futterman has been noted as one of the most prominent and powerful names in Manhattan retail and has personally completed real estate transactions in excess of $10 billion. He has helped revitalize Manhattan neighborhoods including Union Square, the Meatpacking District, Times Square, 34th Street, Fifth Avenue, the Plaza District, and Soho.
Early life and education
Futterman was raised in Jericho, New York, the son of Rosalie and Louis Futterman. His mother was a painter; and his father was a businessman and manufacturer. Originally intending to get into the music business, as a student at the University of Maryland, he represented the school in negotiations with concert promoters Bill Graham (promoter) and Ron Delsener. Not seeing any opportunities in music, he left university and went to Zuma Beach in California to sell ice cream.
In 1983, he returned to New York City to work at Garrick-Aug Associates, a Manhattan retail brokerage firm, where he earned $250 a week as a retail-store canvasser, making cold calls to landlords that had retail space for rent. He was quite successful and was soon promoted to salesman. By 1993, he was running Garrick-Aug's New York City operations.
In 1998, after noticing that very few real estate firms specialized exclusively on the retail sector (landlord and tenant representation, new construction, leasing, sales, and market analysis), Futterman founded Robert K. Futterman & Associates (RKF). He has since expanded the company into one of the country's largest independent real estate firms specializing in retail leasing, consulting services, and investment sales. As of 2011, the company has arranged sales and leasing transactions valued at nearly $20 billion. RKF is headquartered at 521 Fifth Avenue in New York and also has offices in Las Vegas, Los Angeles, Rutherford, New Jersey, Miami, and San Francisco.
On August 27th, 2018, Newmark Knight Frank has officially entered in to an agreement to purchase RKF for an undisclosed amount despite the setbacks. |url=https://commercialobserver.com/2018/08/rkf-newmark-deal-date-comes-and-goes-as-brokers-fail-to-sign-contracts/</ref>
Then on September 6th, 2018, Newmark Knight Frank has purchased RKF officially closing the deal for $60,000,000 in cash and additional monies in Newamrk stock. |url=https://www.wsj.com/articles/newmarks-recent-acquisition-comes-with-fewer-brokers-1536663600/</ref>
He has been involved in most vertical retail projects in New York, including Herald Center, the Manhattan Mall, The Shops at Columbus Circle at Time Warner Center, and 270 Greenwich Street (also known as 101 Warren Street); among others.
Additionally, Futterman has served as an advisor to the Port Authority of New York & New Jersey for the World Trade Center redevelopment, and has also worked on behalf of the Metropolitan Transportation Authority for Grand Central Terminal. He is a member of the Retail Real Estate Board of New York and the International Council of Shopping Centers.
Miracle Mile Shops
Futterman has also been involved in the repositioning and rebranding of Desert Passage, a failing, low-traffic mall, into Miracle Mile Shops, a 475,000-square-foot Las Vegas retail shopping and entertainment powerhouse. He has been the leasing and marketing advisor since the onset of the rebranding. As of 2011, Miracle Mile Shops saw 24 consecutive months of impressive sales and traffic increases at the center. RKF recruited national retailers including Ben Sherman, QuikSilver, Marciano, Trader Vic's, among many others. The mall has continued to grow to over 170 shops, restaurants and entertainment venues that serve approximately 80,000 people each day and nearly 30 million visitors per year. Miracle Mile Shops has been one of the most successful repositionings of a major mall in the U.S.
Futterman is a four-time recipient of the Real Estate Board of New York (REBNY) Retail Deal of the Year. He has been recognized for the following:
- 2010 The Deal That Most Benefits Manhattan for arranging the 45,283-square-foot lease at 240 East 86th Street with Fairway Like No Other Market, which will be the first new grocery store to open on the Upper East Side in 30 years;
- 2009 Most Creative Retail Deal of the Year for the marketing and leasing of 254,736 square feet of available retail space at The Times Square Building and the creation of a multi-level entertainment destination with tenants including Discovery TSX and Bowlmor Lanes;
- 2005 Most Creative Retail Deal of the Year for arranging the 22,500-square-foot retail lease with the Apple store at 767 Fifth Avenue, the GM Building. This was done in cooperation with Open Realty of Dallas, TX;
- 2001 Retail Deal of the Year Award for facilitating the 20,000-square-foot lease for Ethan Allen's flagship location at 101 West End Avenue.
On August 21, 2011, Robert K. Futterman was arrested on drunk driving charges on Sag Harbor Turnpike with four children under the age of 16 in his car. He was charged with multiple counts including violations of Leandra's Law, which made it a felony on the first offense to drive while intoxicated with children younger than 16 years old in the car. On February 3, 2012, Futterman pleaded guilty in Suffolk County Criminal Court to the aggravated felony count, and the misdemeanor count of driving while impaired by a drug.
- New York Times: "A Lesson Learned From a Legend" by ALISON GREGOR June 18, 2006
- New York Sun: "From Selling Ice Cream to Retail Space - Lunch at the Four Seasons" by PRANAY GUPTE October 27, 2005
- Candace, Taylor (2011-04-01). "The Closing: Robert K. Futterman". The Real Deal. Archived from the original on 2011-08-29. Retrieved 2011-08-11.
- Elkies, Lauren (2009-10-29). "Five questions for Robert Futterman". The Real Deal. Retrieved 2010-10-13.
- Sederstrom, Jotham (2009-12-14). "Shop Pop". New York Observer. Retrieved 2010-10-15.
- Forbes: "The Billionaire's Broker" by Matthew Miller October 10, 2015
- New York Times: "Robert K. Futterman" by VIVIAN MARINO November 5, 2010
- Hazlett, Curt (2003-11-01). "Manifest Destiny". Retail Traffic. Retrieved 2010-10-13.
- Gregor, Alison (2006-06-18). "A Lesson Learned From a Legend". The New York Times. Retrieved 2010-09-18.
- Rosta, Paul (2010-05-01). "Robert Futterman Shapes Urban Retail from Manhattan to Los Angeles". Commercial Property Executive. Retrieved 2010-10-13.
- "Whole Foods Moves Into 250 East 57th Street". The Real Deal. 2011-12-05. Retrieved 2012-03-15.
- Hazlett, Curt (December 2006). "The Big Plum: Retailers and Builders Scramble for a Spot in Manhattan". Shopping Centers Today. International Council of Shopping Centers. Archived from the original on 2012-10-27. Retrieved 2012-03-15.
- "Miracle Mile Shops, Las Vegas: Rebranding and Repositioning Case Study". Columbia Business School. Archived from the original on 2012-05-31. Retrieved 2012-03-15.
- "Lancso, RKF Win Top REBNY Retail Awards". The Real Deal. 2011-06-15. Retrieved 2012-03-15.
- "REBNY Presents Retail Deal of the Year Awards" (PDF). Real Estate Board of New York (press release). 2010-06-09. Retrieved 2012-03-15.[permanent dead link]
- "Futterman Wins Deal of the Year". The Free Library (Real Estate Weekly). 2010-06-09. Retrieved 2012-03-15.
- "RKF Wins REBNY 2001 Retail Award". Find Articles (Real Estate Weekly). 2001-07-11. Retrieved 2012-03-15.
- New York Times: "Paid Notice: Deaths MILLER, IRMA A. September 26, 2004 | "Devoted and proud mother of Broadway producer Judith Ann Abrams and Salvador Dali protege, photographer Jon Stevens, owner of The Jon Stevens Silver People Gallery. Adoring grandmother of Cristal Rose Stevens, and Marjory Futterman. Loving great-grandmother of Jesse and Kevin."
- The Real Deal: "Robert K. Futterman" By Candace Taylor retrieved April 4, 2017
- Hamptons Magazine: "Hollie Watman Celebrates Her Swim & Athleisure Collection" June 26, 2016
- "RKF Founder Robert K. Futterman Pleads Guilty to DWI". Observer. 2012-02-06. Retrieved 2018-04-29.