Bayside native retires as NYC real estate icon
TIMESLEDGER | QNS.COM | JUNE 19-25, 2020 25
BY BILL PARRY
A Bayside native who rose
to the highest echelons of New
York City’s real estate sector
has decided to retire after nearly
half a century.
Norman Sturner announced
he would step down from disposition
as chairman of Murray
Hill Properties, the company
he co-founded in 1971.
“It’s been nearly 50 years
since I started on this road with
a dream to make my mark on
New York City,” Sturner said.
“I want to thank the thousands
of people I have had the pleasure
to know and work with
over these many years. It has
been a wonderful experience
that has brought so much joy
into my life. So now, as I take
leave of MHP, with its glorious
history and shining reputation,
I am proud to leave the
company under the keadership
of my son, David, and know
that he and Rudy will accomplish
great things together at
Banyan Street.”
Growing up in Bayside,
Sturner attended Bayside High
School, where he met his future
wife Harriet Katz when they
were teenagers. He worked as
a short-order cook and was accepted
at St. John’s University
at 16 years old. He graduated
from St. John’s with a degree in
accounting.
After school, he first worked
as a certified public accountant
and then moved on to become
one of the largest mutual fund
dealers in the country, owning
a seat on the Philadelphia-
Baltimore-Washington stock
exchange. In 1971, he and his
business partner, Neil Siderow,
purchased a building on
the verge of default for $70,000,
which led to additional purchases
that launched Sturner’s
career in real estate investment,
buying and selling more
than 150 properties worth more
than $10 billion.
His career culminated with
the merger he and his son David
orchestrated with Miami-based
Banyan Street Capital, creating
a $3 billion powerhouse
that encompasses 12 million
square feet of commercial and
retail space in New York City
and Miami.
“Norman has been an invaluable
resource to Banyan
during its entry into the New
York marketplace; no one else
knows as much about the Manhattan
office market,” Banyan
Street Capital Founder and
CEO Rudy Touzet said. “We are
incredibly grateful to Norman,
not only for the company he
built, but for the time he spent
with us, and we are especially
thankful he will continue to
be an advisory resource going
forward.”
In addition to leading Murray
Hill Properties, Sturner is
an approved receiver by The
New York State of Court Administration,
a member of the
Real Estate Board of New York,
a member of the Association for
a Better New York, vice president
of the executive committee
of the Realty Foundation of
New York, and a mentor to the
Young Jewish Professionals
Real Estate Network and the
Jewish Braille Institute. As a
member of the board of directors
of the Grand Central Partnership
since 1999, Sturner was
chairman of the Partnership
during the final restoration of
Grand Central Terminal to its
former glory and was recently
honored for the sixth year in
a row by The Commercial Observer
as one of the 100 most
powerful people in New York
real estate.
“The privilege of being able
to work side-by-side with my
father for the last 25 years has
been enriching and enlightening,
to say the least,” Murray
Hill Properties President and
CEO David Sturner said. “From
humble beginnings to a New
York City real estate icon is a
dream come true to reality for
a truly deserving man. My father
has the gift of understanding
what it takes to surpass any
hurdles thrown in his way and
will always find a way to conclude
a transaction. Building
MHP from the ground up and
growing it into a full-service
operating company with a stellar
track record and reputation
over the past 50 years is a testament
to the man he is and the
legacy he leaves for the next
generation.”
Bayside native Norman Sturner is retiring after nearly 50 years in
New York City’s real estate market. Courtesy of MHP
One day you’ll reach further.
One day starts here.
Visit eastwestbank.com/business
or call 888.819.8880.
We’ll restart
strong.
And we’ll restart
together.
We’re here to help your business keep growing. When
you’re ready to restart, count on us to help you reach
further. We’re here for you—then, now and tomorrow.
Brooklyn
5801 8th Ave., Brooklyn, NY 11220
718.435.1288
1322-1328 Ave. U, Brooklyn, NY 11229
718.998.2218
Flushing
135-11 Roosevelt Ave., Flushing, NY 11354
718.640.9388
38-05 Union St., Flushing, NY 11354
718.961.4966
Manhattan
208 Canal St., New York, NY 10013
212.710.2913
77 Bowery, New York, NY 10002
212.966.3303
/QNS.COM
/business
