Howard L. Michaels, the founder and chairman of The Carlton Group, has died at 62 after a long battle with gastric cancer.
A veteran of real estate finance, Michaels formed The Carlton Group in 1991. The firm has since completed more than $140 billion in transactions in different countries. The company grew from its first office in Manhattan to several U.S. locations in Los Angeles and West Palm Beach, Florida, as well as international hubs in London, Madrid, Milan and Athens.
Under Michaels’ leadership, Carlton owns and manages more than three million s/f of real estate through its transaction business, Carlton Strategic Ventures.
Among many notable transactions, the company arranged a $2 billion equity and construction loan for 20 Times Square and advised on HFZ’s billion-dollar luxury condo and hotel development on the High Line.
“His intelligence, tenacity and dedication were great assets to Carlton and helped expand the company from a single office on Park Avenue South to now having multiple offices across the globe,” said Michael Campbell, a partner with Carlton.
Campbell, who worked alongside Michaels for more than two decades, will now lead the company.
Outside of his work life, Michaels was involved in many charities including the National Foundation for Facial Reconstruction and the American Israel Public Affairs Committee and the Friends of the Israel Defense Forces.
He is survived by his wife Jennifer, his daughters Reese and Alex, and his sons David, Josh and Sam.
Funeral services were held at Central Synagogue at 652 Lexington Avenue on September 23. Shiva began at the Michaels’ residence at 995 Fifth Avenue that same day and will continue September 24 from noon to 3 p.m. and from 5 p.m. to 8 p.m.
Donations may be made to the Jennifer and Howard Michaels Family Foundation at 560 Lexington Avenue, 10th Floor, New York, NY 10022 and will be designated to Gastric Cancer Research.
