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Sterling equities

Sterling Equities is a real estate company which serves in building projects in the country mainly in New York. Now it currently owns the New York Mets since the 80's. But full ownership was granted in 2002. The company is headed/founded by Fred Wilpon and Saul Katz. It was founded in 1972.

HistoryEdit

Since 1972, Sterling Equities (SE) and its affiliates have purchased or developed over 23.3 million SF of commercial property, 57,800 residential units, 8.7 million SF of retail property and four major sports complexes. SE has evolved over the last three decades into a diverse family of companies focused on the creation of wealth and preservation of capital.

1970sEdit

  • 1972: SE was founded by Fred Wilpon and Saul Katz as a vehicle to develop and invest in real estate.

1980sEdit

  • 1980: SE acquires partnership interest in the New York Mets.
  • 1985: SE makes venture capital investment in PathoGenesis Corporation, a medical research company focused on treatments for cystic fibrosis.

1990sEdit

  • 1990: SE joins with American Securities Capital Partners to form the first of five investment funds that have invested in and managed real estate in 43 states.
  • 1997: SE makes venture capital investment in Changing World Technologies (CWT), a bio-energy company focused on emerging technologies in the energy and environmental arenas.

2000sEdit

  • 2001: SE brings baseball back to Brooklyn. Formed the Brooklyn Cyclones, as an affiliate of the New York Mets. The team plays at MCU Park, which was constructed by executives, now currently part of the Sterling Project Development Group.
  • 2002: SE becomes full owner of the New York Mets.
  • 2002: SE funds Sterling Stamos Capital (SSC), and keeps a limited partner interest.
  • 2005: SportsNet New York (SNY), a regional sports network in the New York tri-state area, is formed by SE in partnership with Time Warner Cable and Comcast Corporation.
  • 2007: Sterling American Property, Inc. launches Sterling American Property V, a $609 million private equity real estate fund.

2010sEdit

  • 2010: SE forms Sterling Project Development Group ("SPD") to formally brand its project consulting expertise.

Bernie Madoff Investment ScandalEdit

In 2008 when the Bernie Madoff ponzie scheme broke ground the Wilpon family had been affected. It was reported that Fred Wilpon lost $700 million because of Madoff, which has led to speculation that he may be forced to sell the team. Court orders filed against them say that the Wilpons had used the money to function the Mets during the time when the Wilpons had agreements with Madoff. This has lead to the effect that put the Mets in financial setbacks in recent years. Since 2009 the Mets didn't have enough money to sign big league players and the team worth in Major League Baseball list put them near the bottom. For more on the scandal see it here. Also for the companies press release on the scandal see it here.

CultureEdit

A family run business operated in a collegial manner, with professionalism and accountability.

Our ValuesEdit

  • Organization First
  • Teamwork and Hard Work
  • Candor and Honesty
  • Customer Focus
  • Trust & Integrity
  • Respect for the Individual

CompaniesEdit

Sterling American Property, Inc.Edit

Sterling American Property, Inc. represents the real estate investment funds formed and operated by affiliates of Sterling Equities and American Securities LP. Since 1991, Sterling has successfully established and operated five investment funds. To date, these Funds have acquired over $4.6 billion of real estate and real estate related assets. Website

  • Sterling American Property, Inc.:
  • 111 Great Neck Road
  • Suite 408
  • New York, NY 11021
  • Tel: 516.773.3800

Senior ManagementEdit

Investment CommitteeEdit

  • Fred Wilpon (Co-Founder and Chairman)
  • Michael Katz (Senior Executive Vice President)
  • Tom Osterman (Executive Vice President)
  • Michael Fisch (President) - American Securities Capital Partners, LLC
  • Charles Klein (Managing Director) - American Securities Capital Partners, LLC
  • Saul Katz (Co-Founder and President)
  • Richard Wilpon (Senior Executive Vice-President)
  • Gregory Katz (Senior Vice President)
  • Elizabeth Varet (Chairman) - American Securities L.P.
  • David Steinmann (Managing Director and Secretary) - American Securities, L.P.

Acquisition OfficersEdit

Asset ManagementEdit

Marketing & Investor RelationsEdit

Construction & DevelopmentEdit

Accounting, Tax & FinanceEdit

LegalEdit

Information Systems & TechnologyEdit

Investor RelationsEdit

Sterling Project Development GroupEdit

Since its inception, Sterling has developed or co-developed over four million square feet in New York City and the metropolitan area. Sterling is actively seeking development opportunities both locally and nationally.

Sterling Project Development Group provides its clients with expertise, resources and/or project management services on all or selected phases of a project. With local, national and international experience, its senior management team has collectively supervised and coordinated in excess of $4 billion worth of construction and development over the past 25 years. Project types have included office towers, residential condominiums, suburban multifamily communities, education, research and healthcare facilities as well as major sports complexes. Feel free to contact us for more information on how we can assist your organization.

Senior ManagementEdit

Sterling Property ManagementEdit

Sterling Equities currently owns and manages over 1,900 residential units and 1.2 million square feet of commercial space. Sterling relies on its expertise in management, development, marketing and repositioning to maximize the value of each asset.

  • Sterling Property Management:
  • 111 Great Neck Road
  • Suite 408
  • New York, NY 11021
  • Tel: 516.773.3800

Sterling MetsEdit

Since the company owned full ownership of the ball club in 2002 they currently control the operations of the team. Several members of the company are in the front office of the team such as Fred Wilpon, Saul Katz, Jeff Wilpon, Michael Katz, Richard Wilpon, Tom Osterman, David Katz, Arthur Friedman, Steve Greenberg, Stuart Sucherman.

  • New York Mets:
  • Citi Field
  • Flushing, NY 11368
  • Tel: 718.507.METS

Sterling SNYEdit

SNY is the current TV home of the Mets. It launched in 2006 as it was founded by Sterling Entertainment Enterprises, Time Warner and Comcast.

  • SportsNet New York:
  • 75 Rockefeller Plaza
  • 29th Floor
  • New York, NY 10019
  • Tel: 212.485.4400
  • Fax: 212.485.4341

Sterling CyclonesEdit

The company brought baseball back to Brooklyn, New York after 40 years. The Brooklyn Cyclones were formed in the summer of 2001 to become the Class A affiliate of the Mets. Fred Wilpon and Saul Katz were responsible for the creation of the team. The Cyclones are an integral part of the Sterling Equities baseball family. Fred Wilpon is the Chairman and Chief Executive Officer; Saul Katz as President; and Jeff Wilpon as Executive Vice President and Chief Operating Officer.

  • Brooklyn Cyclones:
  • MCU Park
  • 1904 Surf Avenue
  • Brooklyn, NY 11224
  • Phone: 718.449.8497
  • Fax: 718.449.6368

Private EquityEdit

Sterling Equities continually seeks investment opportunities that meet the company's strict guidelines while remaining true to our core philosophy and values.

Venture CapitalEdit

Sterling Equities invests in a diverse range completed to early-stage companies.

Changing World TechnologiesEdit

(CWT), founded in August 1997, provides funding and management expertise to its wholly owned subsidiaries and joint ventures. Its purpose is to identify emerging technologies that specifically address the needs and problems in the energy and environmental arenas. CWT brings together the best technical and scientific expertise, validates the technologies, and effects the commercialization of these programs. Website

PathoGenesis CorporationEdit

Founded in 1991, was dedicated to the development of drugs treatments of serious human infectious diseases where there is a significant need for improved therapy. Its research and testing focus was on chronic lung infections in cystic fibrosis, tuberculosis, AIDS and multiple sclerosis; and mitigation was addressed though shortened drug discovery and development processes; screening procedures and testing.

Equity CapitalEdit

American Securities Capital Partners Fund IVEdit

A middle market leverage buyout vehicle, is sponsored by the merchant banking arm of American Securities Capital Partners, LLC. The Fund's objective is to partner with management teams to generate long-term capital appreciation by making equity investments of $25 million to $150 million in companies with annual revenues generally ranging between $50 million and $500 million. Investments are funded from over $1 billion of committed capital which is managed on a discretionary basis. Website

TwistageEdit

Twistage has developed a web service that enables businesses to rapidly deploy massively scalable video applications on their web sites. The company's highly customizable platform supports an array of business rules, video formats, and visual elements, allowing customers to quickly and easily incorporate video into their existing assets. Twistage currently has over 20 current customers, including the Canadian Broadcasting Corporation; Kidz Bop, LLC.; Inc. Magazine; and Mochila, for whom they carry content for companies like the Associated Press, Reuters, ITN Source, Ford Models, and more. With features designed to accommodate both user-generated and premium content, the Twistage solution has proven an excellent fit with both large media companies and social networking sites. Website

  • Private Equity:
  • 75 Rockefeller Plaza
  • 29th Floor
  • New York, NY 10019
  • Tel: 212.485.4400
  • Fax: 212.485.4341

Community Involvement/PhilanthropyEdit

Sterling Equities, through its partners and their foundations, is committed to remain at the forefront of corporate philanthropy through grants, sponsorships, and through the individual contribution of time and talent by our senior management to various non-profit organizations.

DonationsEdit

The senior management has made donations to the following projects in the community.

  • Katz Women's Hospital
  • Wilpon Baseball and Softball Complex
  • Irene and Morris B. Kessler Presidential Scholars programs
  • North Shore-Long Island Jewish Health System
  • UJA
  • JCCA
  • Henry Kaufmann campgrounds
  • Brooklyn College
  • School for Language and Communication
  • Mets Foundation
  • Nat's Kids
  • NY Hall of Science
  • NYC Police Foundation
  • NYC & Co.
  • Greenwich Country Day School
  • Association of a Better NY

AffiliatesEdit

  • American Securities Capital Partners Fund IV
  • American Securities Capital Partners, LLC.
  • American Securities LP
  • Changing World Technologies, Inc. (CWT)
    • Thermo-Depolymerization Process, LLC
    • Renewable Environmental Solutions, LLC
  • PathoGenesis Corporation
  • Sterling American Property, Inc
  • Sterling American Property V
  • Sterling Cyclones
  • Sterling Entertainment Enterprises
  • Sterling Equities baseball family
  • Sterling Mets
  • Sterling Project Development Group
  • Sterling Property Management
  • Sterling Properties of Missouri
  • Sterling SNY
  • Sterling Stamos Capital
  • Sterling Project Development Group
  • Queens Development Group
  • Twistage
    • Associated Press
    • Canadian Broadcasting Corporation
    • Ford Models
    • Inc. Magazine
    • ITN Source
    • Kidz Bop
    • LLC.
    • Mochila
    • Reuters

PartnersEdit

  • Association of a Better NY
  • Brooklyn College
  • Comcast
  • Greenwich Country Day School
  • Henry Kaufmann campgrounds
  • Irene and Morris B. Kessler Presidential Scholars programs
  • JCCA
  • Katz Women's Hospital
  • Mets Foundation
  • Nat's Kids
  • North Shore-Long Island Jewish Health System
  • NY Hall of Science
  • NYC Police Foundation
  • NYC & Co.
  • School for Language and Communication
  • Time Warner Cable
  • UJA
  • Wilpon Baseball and Softball Complex

StaffEdit

PartnersEdit

Senior ManagementEdit

FormerEdit

  • Leonard J. Schreier (1934 - 2001)

External LinksEdit


New York Mets Owners navbox
New York Mets Owners

View |Edit

Joan Whitney Payson * Charles Shipman Payson * George Herbert Walker, Jr. * Doubleday & Co. * Nelson Doubleday, Jr. & Fred Wilpon * Fred Wilpon/Sterling Equities

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