| Business Summary | | Wellsford
Real
Properties,
Inc.
was
formed
in
January
1997
as
a
corporate
subsidiary
of
Wellsford
Residential
Property
Trust.
The
Trust
was
formed
in
1992
as
the
successor
to
Wellsford
Group
Inc.
and
affiliates,
which
was
formed
in
1986.
In
May
1997,
the
Trust
merged
with
Equity
Residential
Properties
Trust.
The
Company
is
a
real
estate
merchant
banking
firm
which
acquires,
develops,
finances
and
operates
real
properties
and
organizes
and
invests
in
private
and
public
real
estate
companies.
The
Company's
operations
are
organized
into
three
Strategic
Business
Units:
Wellsford/Whitehall
Group
L.L.C.,
under
which
its
commercial
property
operations
are
organized;
Wellsford
Capital,
its
debt
and
equity
business
unit;
and
Wellsford
Development,
its
property
development
unit. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Wellsford
Real
Properties,
Inc.
is
a
real
estate
merchant
banking
firm
which
acquires,
develops
and
operates
real
properties
and
invests
in
the
debt
and
equity
securities
of
private
and
public
real
estate
companies.
For
the
six
months
ended
6/30/01,
revenues
totaled
$25
million,
up
from
$12.2
million.
Net
income
increased
26%
to
$1.8
million.
Results
reflect
a
$14.6
million
gain
from
the
sale
of
residential
units,
partially
offset
by
the
inclusion
of
residential
units
cost
of
sales. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Jeffrey Lynford, 53 Chairman
and Sec. | $647K | Edward Lowenthal, 56 Pres,
CEO | 649K | Rodney Du Bois, 65 Vice
Chairman | 478K | James Burns, 61 CFO,
Sr. VP | 602K | David Strong, 42 VP-
Devel. | 328K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|