Adam C. Hochfelder

Who is Adam C. Hochfelder?

Adam C. Hochfelder is an American real estate executive who co-founded the real estate firm Max Capital in 1996, with members of the powerful Kalikow real estate family. At its peak, Max Capital had ownership or management stakes in 8,000,000 square feet of space, including the Helmsley Building and the Conde Nast Building. His portfolio was valued at as much as $2.7 billion at its peak. Some of the nations largest institutions invested side by side with Hochfelder including JP Morgan, Citigroup, Wells Fargo, Goldman Sachs, Credit Suisse and Fidelity. He bought out Peter S. Kalikow from his partnership because of a soured relationship in 2002. Hochfelder paid Kalikow $35 million, of which $18 million was Hochfelder's own money, and he borrowed $17 million from banks to help finance the buyout of Kalikow. Some of the loans were improperly collateralized. Although nobody knew a crime had been committed, Hochfelder voluntarily turned himself in and paid back all of the money in question. He was convicted of larceny, through a guilty plea, on May 21, 2010. He was 39 years old at the time. He was sentenced to prison on September 20, 2010 for a minimum of 2 years and eight months. Hochfelder was known as the Wharton Whiz kid for his ability to financially structure and acquire some of NYC's largest properties. Several times he out-maneuvered NYC's biggest landlords, like Donald Trump and Bernie Mendik, to acquire properties such as the Helmsley Building which he paid $235 Million and the Associated Press Building which he paid $215 Million. He successfully acquired 237 Park Avenue for $455 million in 2000 as well as the Tommy Hilfiger Building at 485 Fifth Avenue in 2005. In 2006, Hochfelder acquired the Westin Aruba Resort and Casino from Oswaldo Cisneros, CEO of Pepsico Venezuela.