The real estate industry is about to witness another mega-divorce.
Harrison LeFrak, the billionaire scion of the LeFrak organization, is reportedly set to split from his wife, Katherine Embiricos LeFrak, Page Six reported.
The couple welcomed a son in 2019 and have been married for the past five years. An insider told the publication that the decision to part ways was Harrison’s, while another said the decision was mutual.
Harrison is the co-CEO of the LeFrak organization, which is run by his father, Richard. Katherine, meanwhile, is an heiress of the Greek shipping company Embiricos.
“This is a family matter that should be resolved privately and amicably in the best interests of a young child, and Mr. LeFrak will do everything possible to bring about that resolution,” said a family spokesperson to the publication.
Three years ago, Harrison paid $10.1 million for a penthouse in the South Tower of the Four Seasons Residences at the Surf Club in Surfside, Florida. Harrison’s father and brother also have homes in the Miami area, including a Surf Club penthouse residence for Richard.
The LeFraks are one of the largest real estate dynasties in the United States, estimated at $6.6 billion by Forbes in 2015. The family’s major holdings include LeFrak City in Queens, which covers 40 acres and contains 20 apartment buildings. of apartments with 5,000 units.
Last year, LeFrak bought the Marina Del Rey apartments in the Normandy island of Miami Beach for $24.5 million. The company is also co-developing the SoLé Mia project in North Miami with Turnberry Associates. Last year, developers secured a $32 million construction loan for the project.
[Page Six] — HoldenWalter Warner