How to contact Leonard N. Stern ? Leonard N. Stern Contact Address, Email ID, Website, Phone Number, Fanmail Address
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Leonard Norman Stern (born March 28, 1938) is an American businessman and real estate developer who is most known for his work in the entertainment industry.Mr. Hartz is the Chairman and CEO of the privately held Hartz Group, which has its headquarters in New York City. In addition to serving as Chairman and CEO of Hartz Mountain Industries, the firm’s real estate portfolio was owned and managed by the company’s Hartz Mountain Properties subsidiary company.
Hartz Mountain Industries, based in Secaucus, New Jersey, has expanded its operations to include properties in Manhattan, Westchester, New York, Long Island, New York, and Maryland. Additionally, the Hartz Group has an active and expanding finance activity via its ‘Industries’ subsidiary, which complements its real estate activities.Forbes magazine lists him as a billionaire, and he is the namesake of the Stern School of Business at New York University, which he founded.
Initial fortune was received from Stern’s father, Max Stern, who died in the early 1980s and left him a substantial inheritance. Max Stern was a German-born vice-chairman of the Board of Trustees of Yeshiva University, and his name was given to the Stern College for Women on the campus of the university. He had fled from Weimar Germany to the United States in the 1920s after his textile firm had failed to make a profit. He had brought with him 2,100 canaries from Germany to sell on the U.S. market on his journey. Stern’s father built up the family firm, Hartz Mountain Corporation (HMC), which is also based in Secaucus, New Jersey, by selling caged birds, bird cages, and other pet bird supplies to pet owners in the United States via Woolworth’s shops over the course of the following thirty years. HMC would go on to become the most important subsidiary of The Hartz Group in the future. The Harz Mountains in Germany were the inspiration for the name of the company.
Hartz Mountain Corporation was founded in 1957 by Leonard Stern, who graduated from New York University (NYU) in 1957 and acquired his brother’s and sister’s half of the family business. By the early 1960s, Stern had gained complete control of the company (HMC). In the following years, Hartz Mountain Corporation came to dominate the pet supply business, which catered to both dog and cat owners, along with owners of parrots and canaries.
By 1984, Hartz Mountain Corporation (HMC) dominated 75 percent to 90 percent of the U.S. market for the majority of pet supply items manufactured in the United States. Its pet supply business was anticipated to be worth $400 million and to generate earnings of $40 million each year, according to the company.
Stern initiated Hartz Mountain’s real estate activities in 1966, when he began purchasing property in New Jersey’s marshy Meadowlands for $20,000 per acre. This was the beginning of the company’s real estate operations. Real estate in Meadowlands began to sell for $500,000 per acre as early as 1987. When Stern purchased the Meadowlands in the late 1960s, the property’s worth had increased from $10 million to more than $1 billion by the late 1980s. The Meadowlands, according to a Fortune Magazine storey published in September 1987, “was a moneymaker for Stern, who made a profit developing industrial parks and attracted corporations with inexpensive rents.” When Hartz Mountain was at its peak in the 1980s and 1990s, Gene Heller, the business’s well-known President until the 1990s, was the guy with the big vision and skill to negotiate the mega-deals that made the company famous. His departure from Hartz in 1991 was the result of a disagreement with Leonard Stern about the route the business should go. He has subsequently established his own real estate company.
The Equitable Life Assurance Society, UBS/Paine Webber, Panasonic’s U.S. headquarters, and WWOR-TV were among the corporations who relocated their corporate headquarters from Manhattan to Stern’s Meadowlands commercial office complexes. Moreover, Stern profited off Hartz’s Meadowlands real estate by constructing the Harmon Cove Towers high-rise apartments and condo village on the property.
In 1987, the Hartz Mountain Industries subsidiary constructed a 24-story luxury office skyscraper in Manhattan at Madison Avenue and 61st Street, where it moved Stern’s corporate headquarters, The Hartz Group, which were formerly situated in the Stern Building on Madison Avenue. According to Business Week, rentals in 2004 reached as high as $120 per square foot, making it the second most expensive building in the world behind the General Motors building.
That subsidiary was sold with the ‘Hartz’ brand name (and associated goodwill) included in the selling price. External observers have long been perplexed by the relationship between the once-dominant Hartz Mountain Corporation, which dealt primarily in pet supplies, and the more glamorous business of Hartz Mountain Industries’ real estate holdings. Currently, the pet products “Hartz” business continues to operate, albeit as a regular tenant in the same headquarters building as Hartz Mountain Industries (HMI) in Secaucus, New Jersey, rather than as a subsidiary. The Real Estate Board of New York has appointed Leonard Stern to its Board of Governors, which he now chairs.
He is now in the process of selling his ownership stake in a Chart House Restaurant establishment in the neighbourhood. He presently owns the SoHo Grand Hotel in New York City as well as the TriBeca Grand Hotel in the city’s TriBeca neighbourhood (among others establishments)Business Week magazine published an unsigned cover storey titled “Dynasty in Distress” on February 9, 2004, in which Stern stated that he was “intensely engaged” as a board member of Rite Aid in the late 1990s and early 2000s, when the drugstore chain admitted to overstating net income by $1 billion over a two-year period.
Stern was listed as a defendant in a number of class action lawsuits filed by investors who alleged that he and other board members had violated their fiduciary duties to the company’s owners. In a related complaint, brought by Kevin Mann, the son of the company’s original founder and former executive vice-president, it was claimed that Stern used his power to enhance shelf space for Hartz’s pet items at the cost of rivals in Rite Aid shops throughout the country. In 1999, Rite Aid agreed to pay $11 million to resolve the lawsuit.
Stern stepped down from the board of directors in late 2001. He is described as follows in the article: “Everything is brushed over by saying, ‘We rescued that firm from bankruptcy.’ We fired the previous management and installed new leadership, putting the company on the road to recovery “…Homes for the Homeless, of which he is the creator and Chairman, is the biggest non-profit provider of residential, education, and job training facilities in the United States. He founded the organisation in 1986 and serves as its Chairman. According to the organization’s website, it helps more than 630 homeless families and more than 1,200 homeless children each day at five different locations around New York.
Leonard N. Stern Fan Mail address:
Leonard N. Stern
(1)Full Name: Leonard N. Stern
(2)Nickname: Leonard N. Stern
(3)Born: 28 March 1938 (age 83 years), New York, New York, United States
(4)Father: Max Stern
(5)Mother: Hilda Stern
(6)Sister: Gloria Kisch, Maidy Rosenblatt
(7)Brother: Stanley Stern, Armond Lindenbaum, Stanley Stern, Henry Lindenbaum
(8)Marital Status: Married
(10)Birth Sign: Aries
(12)Religion: Not Available
(13)Height: Not Available
(14)School: Manhattan Day School, New York
(15)Highest Qualifications: Not Available
(16)Hobbies: Not Available
(17)Address: New York, New York, United States
(18)Contact Number: Not Available
(19)Email ID: Not Available
(21)Twitter: Not Available
(23)Youtube Channel: Not Available