PROFILE OF THE WEEK
Eric Gural, executive managing director,
Newmark Knight Frank

Third generation Gural is a real stand-up guy

By Jason Turcotte

With a family as embedded in the real estate business as the Gurals, it’s easy to see why Eric Gural, executive managing director at Newmark Knight Frank, took an instant shine to the industry.

As early as 10 years of age, he recalls the real estate dinner table discussions between his father, Jeffrey, and grandfather, Aaron—two of New York’s most successful and respected real estate professionals.

“I think that’s definitely what piqued my interest,” Gural said. “My grandfather’s attitude was that he wanted everyone [in the family] to do it.” So by age 14, Gural worked as a porter and freight elevator operator, learning the work involved in maintaining such an extensive portfolio. “I would go from building to building covering for people on vacation,” he noted. “I was the floater.”

Today, Gural oversees the leasing and management of that portfolio—a portfolio consisting of 42 properties, including the iconic Flatiron building, the second most photographed property in the world (after the Eiffel Tower), which recently underwent an extensive facade restoration.


Eric Gural

Gural understands the importance of continuing the family’s legacy in the industry and the apple doesn’t fall far from the tree: his nine-year-old son has already begun quizzing him on the landmark NYC buildings.

When asked about following in his father and grandfather’s footsteps, Gural said, “Not everyone has that opportunity. It’s special.”

One of Gural’s goals for Newmark is tapping into the green market. While the firm contemplated installing a wind turbine on the roof of one of its buildings a decade ago, the move was not economically viable, but today’s technology is making environmentally-friendly initiatives possible and the green roof concept, in particular, is one he plans on exploring.

“Enough people are doing it now and that sends a message that it makes sense,” Gural said.

While Gural is leaving his own mark on the company, some family traits remain a staple at the business. Newmark continues to place its emphasis on face time with tenants; Gural hasn’t, and won’t, resort to automated phone lines or online services. If there’s an issue at a Newmark building, his staff attends to it personally. The family’s success, Gural said, can partly be attributed to the close relationships they have cultivated over several decades.

Much like his father’s proven track record for converting manufacturing space into office, particularly in places like Dumbo and SoHo, Gural has accomplished similar feats. The building at 520 Eighth Avenue is a prime example.

Working closely with the manufacturing-to-office conversion of the site, Gural helped bring the building to 100% occupied status. And even though critics discounted the addition of a restaurant there, Newmark is about to put in a third dining establishment. He also brought the Alliance of Resident Theatres there, an off-Broadway organization, satisfying his interest in the nonprofit sector.

Beyond inheriting his family’s real estate prowess, Gural—like his father and grandfather—demonstrates a genuine concern for others. While he helps support the Starlight Starbright Children’s Foundation, Gural has made computer literacy his flagship cause. He sits on the board of directors at Computers for Youth, a nonprofit group that supplies computers to the families of underprivileged children.

The organization, founded five years ago in New York, believes that learning should go well beyond the confines of school. The group not only provides students with the computers, they provide software and tech support, and teach computer literacy training for the kids and their families—free of charge. Computers for Youth has expanded to Philadelphia and Atlanta; they’ll also open in California’s Bay Area and Gural hopes to get more real estate firms involved with the mission.

Gural, who resides in Greenwich Village, also enjoys staying active; his hobbies include golfing, skiing, biking and hiking. He competes in a soccer league, where his is one of only two Americans on the team. A New York native, he recently spent a year living in Park City, Utah. The quirky small-town environment provided plenty of fodder for another of his passions: comedy.

The sharp-witted Gural is known for entertaining colleagues with a stand-up routine at Newmark Knight Frank’s annual retreat.

The caveat, of course, is that his co-workers are fair game for a punch line—or two. But he said his high-level of interaction with people in the real estate industry—his favorite aspect of the business—enables him be a comedian everyday. And it pays better than a burger and beer, Gural quipped.