Greystone Development announced that Thomas Ryan, a 17-year veteran of the group, will succeed Jeff Simpson as CEO, effective January 1, 2018. Jeff Simpson, who led Greystone Development, is establishing a new, separate real estate investment and development company, Arch Companies, along with Jared Chassen, Greystone Development’s Director of Acquisitions. Greystone and Arch Companies will collaborate on existing Greystone Development projects and new real estate construction and investment opportunities.
Mr. Ryan joined Greystone in 1999 and most recently served as the head of Greystone’s development & construction operations management team. While at Greystone, he’s overseen large-scale development projects such as Grande Villas in the Outer Banks, NC, a 90-unit waterfront condo community, and The Northmoore in TriBeCa, which delivered 50 luxury condo units to the New York City market. Recent projects include the 75-unit Harlem 125, which is nearly 100% leased, and the Woodmere Rehab & Health Care Center on Long Island. Prior to joining Greystone, Mr. Ryan led a major development group focused on retail mall expansions, golf course communities and condominiums.
Under Mr. Simpson’s leadership, Greystone Development grew its current portfolio to include 15 projects spanning New York, Miami and Northern California, comprising 1.5 million square feet of developed space with residential, mixed-use, office, retail, and healthcare assets. The group’s work in recent years included the successful construction, lease-up and sale of Printhouse Lofts in Williamsburg, Brooklyn, and The Mile in Coral Gables, Miami, as well as the conversion of a West Village, NYC tenement building into a stunning 7-story luxury single-family residence.
“We could not be more thrilled for Jeff and Jared in following their passion and starting an exciting new venture,” said Curt Pollock, co-COO, Greystone & Co., Inc. “We look forward to working with Jeff’s team on a number of initiatives and are quite excited for Tom as the new head of the group. He has our full confidence and support in driving our development efforts going forward. Tom’s expertise and lengthy tenure at Greystone has shown us that he has the leadership skills to grow our property development group.”
“We have an incredible team in place that is passionate about what we do, and we are excited to continue Greystone’s legacy in the real estate development space,” said Mr. Ryan. “I am thrilled at the prospect of partnering with Jeff on select future projects, and wish him success with his new company.”