{"id":212880,"date":"2026-04-28T18:03:17","date_gmt":"2026-04-28T18:03:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/212880\/"},"modified":"2026-04-28T18:03:17","modified_gmt":"2026-04-28T18:03:17","slug":"gfp-real-estate-creates-new-development-entity-names-brian-steinwurtzel-ceo-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/212880\/","title":{"rendered":"GFP Real Estate Creates New Development Entity, Names Brian Steinwurtzel CEO \u2013 Commercial Observer"},"content":{"rendered":"

GFP Real Estate<\/a> is breaking away from the development portion of its company, Commercial Observer has learned.<\/p>\n

The family firm led by Jeff Gural is creating an entirely new entity, GFP Development<\/a>, which will be led by his nephew Brian Steinwurtzel as CEO. The new entity will focus solely on development projects and opportunities in New York City and Jersey City, N.J.<\/p>\n

SEE ALSO: Erik Rutter and David Weitz\u2019s Oak Row Equities Has Proven a Master of Miami<\/a><\/p>\n

Steinwurtzel has been in charge of GFP Real Estate\u2019s development efforts for some time now, executing plans for buildings such as 100 Gold Street, 25 Water Street and 222 Broadway, some of the most high-profile office-to-residential conversions in Manhattan.<\/p>\n

Now, he will have a little more freedom to move, the two executives told CO.<\/p>\n

\u201cOur teams that work on [office leasing] are focused on our tenants and making their employees\u2019 experience as good as possible,\u201d Steinwurtzel said. \u201cThere\u2019s almost a completely different team focused on acquiring these larger projects, designing and building them. While we\u2019re all part of the Gural family, we\u2019re all just really focused on two different tasks, even though it is within real estate.<\/p>\n

\u201cOur plan is to continue to win business,\u201d Steinwurtzel added. \u201cOur team has grown each year over the last five-plus years, and our investors continue to be extremely happy with the returns that we\u2019re delivering to them.\u201d<\/p>\n

Steinwurtzel says the new organization will be \u201cagnostic\u201d in its approach to assets, as it has been in the past under his management involving office developments, life sciences facilities and ground-up residential developments.<\/p>\n

Gural said the division of the company was designed in part to clear up any confusion about who is in charge of what the company is building.<\/p>\n

\u201cEvery time he was doing a deal and I would look in the magazines, it would have my picture and say Jeff Gural\u2019s GFP is doing something,\u201d Gural said. \u201cI just said, \u2018This is stupid, we should create a separate entity where people know that it\u2019s Brian and not Jeff Gural, and where people working with him can have a piece of the action.\u2019 \u2026 I really want him to get the credit.\u201d<\/p>\n

Eric Gural, co-CEO alongside Steinwurtzel, will serve as principal of GFP Real Estate going forward.<\/p>\n

For Gural\u2019s part, his hands are full operating or managing what GFP defines as its \u201clegacy portfolio,\u201d a collection of buildings in former manufacturing enclaves such as the Garment District and SoHo. Those properties were acquired either by Jeff Gural\u2019s father Aaron, or by Jeff Gural and his former partner Barry Gosin.<\/p>\n

Gural was a founder of Newmark Knight Frank alongside Gosin before Newmark and GFP essentially split in 2017.<\/p>\n

Since the pandemic, when the GFP legacy portfolio saw increased vacancies, Gural has been keeping himself busy doing deals to backfill space, something he\u2019s been largely successful at.<\/p>\n

Mark Hallum can be reached at mhallum@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"GFP Real Estate is breaking away from the development portion of its company, Commercial Observer has learned. The…\n","protected":false},"author":2,"featured_media":212881,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[33629,2184,84043,75,84,83,1286,9,24,63,41035],"class_list":["post-212880","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-brian-steinwurtzel","tag-development","tag-jeff-gural-channel","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-more","tag-new-york","tag-new-york-city","tag-nyc","tag-players"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/212880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=212880"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/212880\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/212881"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=212880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=212880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=212880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}