Pioneers Reshaping the Construction and Property Sector in 2025
Trailblazers Shaping New York City's Built Environment
New York City's real estate and construction industries are influential in shaping the city's future, and a new list compiled by City & State in partnership with journalist Lon Cohen highlights the key players driving change.
The list features individuals who have a voice in the future of New York's built environment, including developers, heads of trade associations, public officials, community leaders, consultants, advisers, advocates, and others.
Influential Figures
Rafael Cestero has been a major force in New York’s affordable housing landscape across public, private, and nonprofit sectors for decades. His work has influenced housing accessibility and policy frameworks.
Michele de Milly has steered prominent projects such as the Gowanus rezoning and a significant 2,500-unit housing and stadium plan for the NYC Football Club in Queens. Her previous senior state urban development experience and lobbying firm co-founding highlight her influential role in both planning and policy advocacy.
Frederick Elghanayan, co-founder of TF Cornerstone, is notable for leading adaptive reuse and conversion projects, such as transforming Philadelphia’s Wanamaker Building into loft apartments and converting the former FBI headquarters on the Upper East Side into residential units.
Eric Engelhardt has reshaped lower Manhattan’s leasing landscape by leading major leasing deals at One World Trade Center, securing anchor tenants like Condé Nast and Celonis, and positioning the tower as a hub for finance and legal firms.
Jay-Z, as a cultural and economic leader, represents a new kind of trailblazer by merging culture with capital in real estate. His $250 million Times Square renewal plan, part of a broader $500 million casino development partnership with Caesars Palace and SL Green, symbolizes a paradigm shift toward equitable urban renewal and cultural ownership of iconic city spaces.
Other notable influencers include Steven Krieger on Long Island, whose $3 billion in real estate transactions, including luxury rentals and senior living communities, impact housing diversity extending to the NYC metro area.
Impact on the City's Built Environment
These individuals and their work collectively influence New York City's physical fabric by advancing affordable housing, adaptive reuse, landmark commercial leasing, urban rezoning, and combining cultural identity with real estate investment to shape the city's future built environment.
The list may also reveal connections and alliances between these players, making it a valuable resource for those looking to do business or engage in advocacy within these industries. The list includes prominent figures as well as lesser-known individuals, and many of these players are active political donors.
The new World Trade Center and One Vanderbilt are examples of major projects these trailblazers have been involved in, and they are key drivers of rezoning projects and pro-development policy changes, such as the Adams administration's City of Yes initiative.
As several big players in these industries vie for a downstate casino license this year, the list is likely to be influential in shaping future policy and development decisions in New York.
Read also:
- United States tariffs pose a threat to India, necessitating the recruitment of adept negotiators or strategists, similar to those who had influenced Trump's decisions.
- Weekly happenings in the German Federal Parliament (Bundestag)
- Southwest region's most popular posts, accompanied by an inquiry:
- Discussion between Putin and Trump in Alaska could potentially overshadow Ukraine's concerns
