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Andrew Farkas (businessman)

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Andrew Farkas is an American businessman primarily involved in real estate and banking.

Andrew Farkas
Born (1960-06-17) June 17, 1960 (age 65)
United States
Alma materHarvard University
OccupationBusinessman
Known forProminent in New York City commercial real estate and supporting politicians

Early life and education

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His father is Robin Farkas, chairman of Alexander's.

Andrew Farkas graduated from Harvard College in 1982.[1] He was the President of the Hasty Pudding Club at Harvard.[2]

Career

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Lexington Hotel (New York City)

Andrew Farkas became a prominent figure in New York City commercial real estate in the 1990s.[3] In 1990 Farkas founded Insignia Financial Group which he took public in 1993. In 1996 he purchased the brokerage firm Edward S. Gordon and Company. In 1998 he sold his portfolio of residential properties to AIMCO.[2]

Farkas' primary investment vehicle is Island Capital Group, set up as a merchant bank. The company had a subsidiary, Island Global Yachting (IGY), which developed and managed marinas.[4] IGY's first project was Yacht Haven Grande on Saint Thomas, U.S. Virgin Islands which began in 2001 and opened in 2007.[5]

In 2007 Island Capital acquired the Montauk Yacht Club Resort and Marina in Montauk, New York. The property was sold in 2017 to George Filopolous.[6]

In 2010 he acquired Centerline Holding Company, a major commercial real estate mortgage servicer.[7][8]

Following Black Monday (2011) and the wider financial downturn Farkas was an aggressive buyer of distressed commercial assets.[9]

In 2014 Farkas listed a townhouse on the Upper East Side which he had acquired in 2007 for sale.[10] It sold for US$41 million.[11]

In 2017 Farkas attempted to enter into a partnership with Marty Burger but the deal collapsed.[12]

It came to light after Jeffrey Epstein's second arrest that Epstein owned 50% of the American Yacht Harbour at Red Hook;[13] the other half was owned by Farkas. The partnership came about in 2007 when Epstein was having financial, regulatory and legal problems.[14][15]

In 2021 a joint venture headed by Farkas purchased the Lexington Hotel (New York City).[16] The property was refinanced through a loan from the Hudson Bay Company in 2024.[17]

In 2021 Island Global Yachting was sold to MarineMax.[18]

In 2024 Island Capital and JW Capital Management acquired a large multifamily housing portfolio formerly owned by Blackstone Inc..[19]

In 2025 he sold a house in Palm Beach, Florida for $51 million.[20]

In 2026 Andrew Farkas repeatedly played down ties to Jeffrey Epstein. But they swapped business favors in the Virgin Islands, and in nearly 2,000 emails seen in the Epstein files, the two expressed admiration for each other.[21]

Politics

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Farkas was one of the primary fundraisers for New York politician Andrew Cuomo. Farkas also briefly employed Cuomo.[22][23] In 2025, Zohran Mamdani used Farkas' links to Epstein against Cuomo.[24]

Personal life

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Farkas enjoys yachting.[4]

In 2016 Farkas and his second wife divorced.[25]

See also

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References

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  1. ↑ Lydialyle Gibson (February 12, 2026). "Harvard's Epstein Probe Widened". harvardmagazine.com. Harvard Magazine.
  2. 1 2 "Dubai's Man in Manhattan". observer.com. Observer. Retrieved December 4, 2025.
  3. ↑ Wei, Lingling; Karmin, Craig. "Farkas Looks to Write a New Chapter". wsj.com. The Wall Street Journal. Retrieved December 4, 2025.
  4. 1 2 KALOSH, ANNE. "For the Biggest Yachts, More Than a Dock". nytimes.com. The New York Times. Retrieved December 4, 2025.
  5. ↑ Wilson, Stephanie. "Kings of the Caribbean: Sol Kerzner, Gordon "Butch" Stewart, Andrew Farkas". hauteliving.com. Haute Living. Retrieved December 4, 2025.
  6. ↑ Bimson, Jane. "Gurney's Owners Buy Montauk Yacht Club". easthamptonstar.com. East Hampton Star. Retrieved December 4, 2025.
  7. ↑ Pillifant, Reid. "Farkas Re-Takes Manhattan". observer.com. The Observer. Retrieved December 4, 2025.
  8. ↑ Wei, Lingling. "Farkas Closes Deal to Buy Centerline". wsj.com. The Wall Street Journal. Retrieved December 4, 2025.
  9. ↑ AGOVINO, THERESA. "Property mogul Andrew Farkas aims for coup No. 2". crainsnewyork.com. Crains New York. Retrieved December 4, 2025.
  10. ↑ Taylor, Candace. "Real Estate's Andrew Farkas Seeks $42.5 Million for New York Townhouse". The Wall Street Journal. Retrieved December 4, 2025.
  11. ↑ Rosenberg, Zoe. "Financier Andrew Farkas's glorious Upper East Side townhouse sells for $41M". curbed.com. Curbed. Archived from the original on February 6, 2017. Retrieved December 4, 2025.
  12. ↑ TROMBOLA, NICK; HALLUM, MARK. "Partnership Between Marty Burger and Andrew Farkas Falls Apart". commercialobserver.com. Commercial Observer. Retrieved December 4, 2025.
  13. ↑ Staff, SUZANNE CARLSON Daily News (July 12, 2019). "Jeffrey Epstein owns half of American Yacht Harbor". The Virgin Islands Daily News.
  14. ↑ Kocieniewski, David; Levin, Jonathan (July 23, 2019). "Jeffrey Epstein, in Hour of Need, Did Port Deal with New York Property Tycoon". Bloomberg.
  15. ↑ "Who is Andrew Farkas, Who Owned a Marina With Jeffrey Epstein?". nytimes.com. The New York Times. Retrieved December 4, 2025.
  16. ↑ Cryan, Elizabeth. "Andrew Farkas eyes $275M for Lexington Hotel". therealdeal.com. The Real Deal. Retrieved December 4, 2025.
  17. ↑ "Andrew Farkas lands $155M refi for Lexington Hotel". therealdeal.com. The Real Deal. Retrieved December 4, 2025.
  18. ↑ FEASEY, CONOR. "Island Capital moves to buy back IGY". superyachtnews.com. Superyacht News. Retrieved December 4, 2025.
  19. ↑ Cavanaugh, Suzannah. "Andrew Farkas wrests control of discarded Blackstone portfolio". therealdeal.com. The Real Deal. Retrieved December 4, 2025.
  20. ↑ Hinsche, Kate. "Island Capital's Andrew Farkas sells Palm Beach mansion for $51M". therealdeal.com. The Real Deal. Retrieved December 4, 2025.
  21. ↑ Kamin, Debra (February 9, 2026). "Andrew Farkas Called Jeffrey Epstein 'Blessing' as the Two Did Deals". The New York Times. ISSN 0362-4331. Retrieved February 9, 2026.
  22. ↑ ROSENTHAL, TRACY. "How Andrew Cuomo Made Homelessness Worse". thenation.com. The Nation. Retrieved December 4, 2025.
  23. ↑ SKELDING, CONOR; NAHMIAS, LAURA; MAHONEY, BILL. "Hacked Sony emails reveal Cuomo fund-raising details". politico.com. Politico. Retrieved December 4, 2025.
  24. ↑ "Zohran Mamdani goads Andrew Cuomo with Epstein jibe in attack ad". telegraph.co.uk. The Telegraph. Retrieved December 4, 2025.
  25. ↑ "Andrew Farkas splits with second wife". therealdeal.com. The Real Deal. Retrieved December 4, 2025.
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