Jeff Blau
{{Short description|American businessman}}
{{Infobox person
| name = Jeff Blau
| image = Jeff Blau.jpg
| caption =
| birth_date = 1968
| birth_place = Woodbury, Long Island, New York, US
| death_date =
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| education = University of Michigan
M.B.A. University of Pennsylvania’s Wharton School
| occupation = CEO of Related Companies
| known_for =
| children = 3
| spouse =
| parents =
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| website =
}}
Jeff Blau is an American businessman and chief executive officer of Related Companies.
Early life and education
Blau was born and raised in Bayside, Queens, spending the first nine years of his life there before later moving to Woodbury, Long Island.
Starting at an early age, he spent summers working on job sites with his father, a builder and contractor, which sparked his love of real estate and development.{{cite web|url=https://therealdeal.com/magazine/new-york-july-2011/the-closing-jeff-blau/|title=The Closing: Jeff Blau|website=Real Deal|date=June 29, 2011|author=Candace Taylor|access-date=September 21, 2024}}
Blau attended and graduated from the University of Michigan. While in school, Blau teamed up with a local contractor to buy single-family homes in Ann Arbor and subdivide them into student apartments.{{cite web|url=http://usa.chinadaily.com.cn/us/2015-04/24/content_20536227.htm|title=Jeff Blau: A natural to run huge NY site|website=China Daily USA|date=April 24, 2015|author=Paul Welitzkin|access-date=September 12, 2023}}{{cite web|url=https://www.crainsnewyork.com/awards/jeff-t-blau|title=40 UNDER 40 CLASS OF 2001|website=Crain's|date=30 July 2018 |access-date=September 12, 2023}}
Blau signed up for a graduate-level real estate development class during his junior year. His professor introduced Blau to Stephen M. Ross when Ross delivered an address at a conference.
After Blau graduated from Michigan in 1990, Ross offered him a job at Related Companies. By that time, the market had crashed, leading Blau to attend the MBA at the Wharton School of the University of Pennsylvania from 1990 to 1992, where he earned a Master in Business Administration in 1992. Blau commuted from New York to Philadelphia, taking classes while continuing to work at Related Companies.{{cite web|url=https://magazine.wharton.upenn.edu/digital/relating-a-story-about-real-estate-entrepreneurship/|title=Relating a Story About Real Estate Entrepreneurship|website=Wharton Magazine|date=December 8, 2011|author=Matthew Brodsky|access-date=September 12, 2023}}
Career
In 1994, Blau was project manager of the joint-purchase, along with Apollo Real Estate, of the Tribeca Tower, converting it to an 80/20 building.
Blau was appointed as President of Related Companies in 2000. By then, he had been involved in 25 deals exceeding $2 billion, with another almost $3 billion worth of property under construction.
In 2001, he was included in Crain 40 Under 40 Class of 2001.
Blau closed a deal to develop the Coliseum site at Columbus Circle by convincing Time Warner CEO Richard Parsons to sign on as an anchor tenant.
Since 2012, with more than $15 billion in residential, mixed use and retail assets under management, Ross named Blau has been CEO of Related Companies,{{cite web|url=https://www.relatedmidwest.com/news-articles/2012/10/01/development-ceo/Real%20Deal%20-%20Blau%20Feature%2010.1.12.pdf|title=The 'development' of a CEO|website=The Real Deal|date=October 1, 2012|author=Adam Piore|access-date=September 8, 2023}}{{cite web|url=https://marketrealist.com/p/jeff-blau-net-worth/|title=Related Companies CEO Jeff Blau Wanted Workers to Return to the Office a Year Ago|website=Market Realist|date=August 25, 2021|author=Dan Clarendon|access-date=September 8, 2023}} as well as a partner at the company.{{cite web|url=https://jewishbusinessnews.com/2015/06/26/jeff-blau-selling-hamptons-estate-for-32-million/|title=Jeff Blau Selling Hamptons Estate For $32 Million|website=Jewish Business News|date=June 26, 2015|author=Noam Meir|access-date=September 8, 2023}}{{cite web|url=https://news.umich.edu/stephen-ross-jeff-blau-give-6m-to-launch-diversity-initiatives-at-michigan-ross/|title=Stephen Ross, Jeff Blau give $6M to launch diversity initiatives at Michigan Ross|website=University of Michigan|date=August 6, 2020|author=Jeff Karoub|access-date=September 8, 2023}}
Since being named CEO, Blau has overseen projects worth over $60 billion. He is most known for spearheading the development and opening of Hudson Yards.{{cite web|url=https://www.cityandstateny.com/power-lists/2021/12/2021-energy-environment-power-100/359741/|title=The 2021 Energy & Environment Power 100|website=City and State|date=December 20, 2021|access-date=September 8, 2023}} Originally a different developer had won the bid to develop the Yards, but backed out in 2008; Related immediately got back involved, with Blau saying he “essentially moved into the office and didn’t leave until the deal got done.”{{cite web|url=https://www.forbes.com/sites/morganbrennan/2012/03/07/stephen-ross-the-billionaire-who-is-rebuilding-new-york/#2bf6c2ea2909|title=Stephen Ross: The Billionaire Who Is Rebuilding New York|website=Forbes|date=March 7, 2012|author=Morgan Brennan|access-date=September 22, 2024}} Currently, Blau is working on the company’s efforts to develop the Western Rail Yards, with Related proposing to build a 3 million-square-foot resort tower and 1,700 room hotel.{{cite web|url=https://nypost.com/2024/08/27/us-news/stunning-video-reveals-what-proposed-12-billion-nyc-casino-would-look-like/|title=Stunning Video Reveals What Proposed $12 Billion NYC Casino Would Look Like|website=NY Post|date=August 27, 2024|author=Carl Campanile|access-date=September 22, 2024}}
Blau also is chairman and founding partner of energyRe, a company developing clean energy projects.{{cite web|url=https://www.cnbc.com/jeff-blau/|title=Jeff Blau|website=CNBC|date=August 3, 2023|access-date=September 12, 2023}}
Civic and philanthropic activities
Blau and his wife Lisa established the Blau Family Foundation in 2014, which provides grants to organizations that focus on education, health, arts and culture.{{cite web|url=https://www.insidephilanthropy.com/find-a-grant-places/new-york-grants/blau-family-foundation|title=Blau Family Foundation|website=Inside Philanthropy|date=12 April 2023 |access-date=October 11, 2024}}
Blau founded the holding company Bikeshare Holdings LLC, which operates the Citi Bike sharing system in New York, in 2014.{{cite web|url=https://www.fastcompany.com/3055168/love-citi-bike-you-have-a-real-estate-developer-to-thank|title=Love Citi Bike? You Have A Real Estate Developer To Thank|website=Fast Company|date=January 12, 2016|author=Sarah Kessler|access-date=September 12, 2023}}
The University of Michigan named a five story building after Blau in 2016. Jeff T. Blau Hall is part of a $135 million construction project on the Ann Arbor campus.{{cite web|url=https://www.michigandaily.com/news/business/new-building-ross/|title=University celebrates opening of Jeff T. Blau Hall in Ross business school|website=Michigan Daily|date=October 23, 2016|author=Caralyn Ryan|access-date=October 11, 2024}}
In 2020, he and Lisa launched the Jeff and Lisa Blau Adolescent Consultation Center for Resilience and Treatment at Mount Sinai, where he is a trustee. Known as The Blau Center, it will be a clinical and research platform to increase understanding of psychiatric illness, particularly schizophrenia.{{cite web|url=https://icahn.mssm.edu/files/ISMMS/Assets/Departments/Psychiatry/Mount-Sinai-Psychiatry-Brochure.pdf|title=Building on a legacy of clinical innovation|website=Mount Sinai|access-date=October 11, 2024}}
In 2020, he was named as part of Crain's New Influential List of 25 Leaders Reshaping New York.
Blau is on the Board of Directors of the Central Park Conservancy, the Partnership for New York City, and The Real Estate Roundtable. He is on the Board of Trustees of the Mount Sinai Medical Center and the Urban Land Institute.
In 2023, Blau signed a statement from the Anti-Defamation League titled "Urge the University of Pennsylvania to Investigate Anti-Israel & Anti-Zionist Student Groups". The letter accuses Students for Justice in Palestine of "glorifying Hamas' atrocities" and declares Zionism to be "a fundamental component of Jewish identity".{{cite web|url=https://www.nytimes.com/2023/10/14/business/dealbook/wall-st-bosses-clash-over-when-universities-should-take-a-stance.html |title=Wall St. Bosses Clash Over When Universities Should 'Take a Stance' |work=The New York Times |date=14 October 2023 |accessdate=2024-01-24 |last1=Hirsch |first1=Lauren |last2=Livni |first2=Ephrat }}
Personal life
Blau has three children. His primary residence is in New York City.{{cite web|url=https://therealdeal.com/new-york/2015/03/03/jeff-blau-is-mystery-buyer-of-51m-upper-east-side-townhouse/|title=Jeff Blau is mystery buyer of $51m upper east side townhouse|website=Real Deal|date=March 3, 2015|access-date=September 21, 2024}}
References
{{Reflist}}
{{The Related Companies}}
{{DEFAULTSORT:Blau, Jeff}}
Category:University of Michigan alumni
Category:Wharton School alumni
Category:American businesspeople in real estate
Category:American company founders