Andrew Farkas has built a real estate empire from the ground up. He founded Insignia Financial Group in 1990 and grew it to become one of the nation’s largest brokerages. He then launched Island Capital Group, which he now serves as chairman and CEO of.
He’s also branched out into a marina business. His IGY, or Island Global Yachting, operates luxury yacht marinas in some of the world’s most beautiful destinations.
The company’s growth has been fueled by a series of acquisitions, and it now owns two marinas on St. Thomas and several others around the globe.
Farkas is also a big philanthropist, with investments in the Fresh Air Fund, Playwrights of New York (PONY), NARAL, the ASPCA, Trinity School, Harvard University, and a host of other health, education, and welfare-oriented charities. He and his wife, Sandi, own a gorgeous Upper East Side townhouse that is listed for $42.5 million.
When asked about their finances, Andrew and Sandi declined to comment.
CWCapital and LNR Property, the country’s biggest special-servicer companies, are pursuing similar strategies as Farkas, which may give him some competition going forward.
Another key factor in his success is the way he developed C-III into a fully diversified commercial real estate services and investment management firm. He has launched mortgage origination, investment sales, and title insurance businesses; acquired property management and brokerage firms; and expanded principal investment, fund management, and primary and special loan servicing businesses.