But each is For office-specific contact information, please visit our our offices page. Contact:Oriane Schwartzman The main point is not to sell anything," Sol told FORBES in 1985, Americas Richest Families: An eBook From Forbes. Turns out, he was right., This is a BETA experience. "As an operator, Elie faces all challenges head-on and takes his fiduciary responsibility very seriously," said Outerstuff LLC CEO Sol Werdiger, who has invested with Rieder. Annual 2 percent rent increases are built in to the lease and, for the full 22 1/2 years, GPC Adams is set to earn $232.65 million, split 50-50 between Park Elizabeth Associates and Werdiger's ownership entity. Contact info: swerdiger@outerstuff.com Find more info on AllPeople about Sol Werdiger and Outerstuff Ltd, as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. "Somebody I'm certain our developer is very proud to be associated with as an investor.". When they met, Mr. Joon told him the following, "I have always heard negative stereotypes about Jews . Together his four children are worth at least $12.2 billion, or $3.05 billion apiece. "We've been dealing with this, I would say, obvious and visible relationship since we chose specifically, I chose that location," Shafer said last week. N.Y. developer, Torgow friend co-developing TCF Bank's downtown Solomon has many family members and associates who include Rony Majer, Michael Roscetti, David Cooperstock, Casey Majer and Rene Majer. Werdiger, an Orthodox Jew and CEO of Outerstuff, received a phone call from Mr. Oh Joon, asking to meet him for lunch at a kosher restaurant in Manhattan. We identified a great niche in kids. "It is readily apparent that this lease was fully vetted and negotiated in good faith between the respective parties," said Munaco, president of Southfield-based brokerage firm Advocate Commercial Real Estate Advisors of Michigan LLC. Solpuga, also called a venomer, is a creature that spits highly caustic lye. Sol Werdiger. 1412 Broadway New York, NY 10018 1370 Broadway New . However, new office construction asking rates are considerably higher, with Dan Gilbert's and the Ilitch family's new office space asking for rents in the high $30s to low $40s per square foot, sources have previously said. Sol Werdiger - Jewish Insider General Motors plans $200M EV parts plant at Palace of Auburn Hills site, Greektown hotel renovations near the finish line, Ishbia and other UWM execs made less in 2022 than 2021, Detroit city airport on shortlist for flying taxi maker's new plant, Restaurant Roundup: Detroit Hudson Caf to reopen in May; new concept from Vicari and more, Crash test pioneer Robert Denton and wife die in plane crash, Harley-Davidson: Not enough people to repossess all the motorcycles. According to the Southfield office of brokerage firm Newmark Knight Frank, the average asking rent for existing Class A office space was $26.58 per square foot in the second quarter. All rights reserved. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. "I don't think this is the last deal of this kind we'll do. nationally on twenty campuses and in Manhattan; visit the national Middle-born sisters Diane and Amy are also still active senior advisors. From the heart of New York Citys Garment District, Werdiger passionately cites statistics supporting his contention that the sports licensed apparel business is more intricate and demanding than building the next million-dollar app. Outerstuff upgraded by S&P Global Ratings to CCC on deal with lenders, Banking Essentials Newsletter: 5th May Edition, Banking Essentials Newsletter: 19th April Edition, According to Market Intelligence, April 2023, Banking Essentials Newsletter: 5th April Edition. Expansion helping Outerstuff to grow into adult market a Jew You Should Know. For additional information on Outerstuff, visit www.outerstuff.com. Ratings believes the company could default in the next 12 months, "especially if the new controlling owner, CEO Sol Werdiger, attempts to retire outstanding debt at a significant discount." It's an important job and a serious undertaking with great challenges and even greater rewards when things work out right. premier Jewish outreach and educational organization. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. "We worked with our board and our audit committee to make sure that every aspect of the relationships that are associated with this are well-known, well-documented and highly visible to the governance process of our publicly traded company and our regulated company. SBJ Spotlight: Rich McKay of AMB Sports and Entertainment, Anquan Boldin on how the Players Coalition continues to fight for social justice, Jalen Rose on being a business-minded athlete, and why NIL is good for college players, Bill Simmons on the creation of ESPNs 30 for 30 documentaries. Outerwear, including pricey jackets, was a big piece. A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college. That was later challenged by her children, though after a five-year long legal battle, it ultimately stuck. Mission: SuccessElie Rieder, Castle Lanterra Properties That included the prized Chrysler Building, which they gave up in 1975. Total number of Crunchbase contacts associated with this organization, Total number of employee profiles an organization has on Crunchbase, Total number of investment firms and individual investors, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. Please click here if you would like more information about the cookies used on this website and how to change your cookie settings. Individual Investors & Financial Advisors. The son of a Brooklyn grocer, Sol quit Brooklyn College to run his fathers shop in 1935, and started by buying up foreclosed properties at low prices in the 1950s. (Photo courtesy of the Goldman family), This story appears in the July 26, 2016 issue of Forbes. Sol Werdiger is a visionary entrepreneur who has built Outerstuff into a unique and important strategic partner to sports leagues and sports apparel companies alike, said Peter Wallace, a Senior Managing Director with Blackstones Private Equity business. As of this date, Solomon is married. Solpuga | Witcher Wiki | Fandom swerdiger@verizon.net. Ratings also noted the challenges of the pandemic, including the uncertainty of when fans will return to sporting events. Want to support this podcast? All rights reserved. By selecting the relevant option, you certify that it accurately reflects your residency. Outerstuff designs and produces childrens jerseys, t-shirts and other clothing items for the leading brands in American sports, including the NFL, MLB, NBA, NHL, MLS, US Olympic Committee, and more than 200 leading colleges and universities, as well as Adidas youth apparel. Within a few years, it was making licensed jackets as a supplier for Starter, a pioneer in the 1980s and 1990s licensing boom. Sol Werdiger is ready for the big game - Jewish Insider Find your market worth with a report tailored to you, No results found. Outerstuff also renegotiated the terms . I am extremely excited about working with Blackstone as we begin the next chapter of our growth story.. Outerstuff's Executive Vice-President is Stephen Werdiger. Sorry, something went wrong with the copy but here is the link for you. Sol Werdiger, founder and CEO of youth licensed sports apparel manufacturer Outerstuff, has a sheaf of data he'll throw at any Silicon Valley executives who think their business is complex. Seed, Series A, Private Equity), Whether an Organization is for profit or non-profit, General contact email for the organization, Leading designer and manufacturer of branded youth apparel, Edit Lists Featuring This Company Section, Misfits deal with clothing maker Outerstuff isnt just about its esports teams, Northeastern US Companies With Less Than $500M in Revenue (Top 10K), Northeastern US Manufacturing Companies (Top 10K), East Coast Companies With More Than 500 Employees (Top 10K), Northeastern US Companies With More Than 50 Employees (Top 10K). Allan Goldman, co-chair of Solil Management, pictured more than a decade ago with a young Steven [+] Gurney-Goldman, who is now working at Solil and will one day take over his father's position. GPC Adams is an affiliate of Sterling Group, the Detroit-based real estate company that Gary Torgow started in the 1980s. Sometimes Solomon goes by various nicknames including Sol Werdiger. Torgow and Werdiger are active with Agudath Israel of America, which describes itself as a "diverse cross section of leading Orthodox rabbis, activists, philanthropists and everyday community members." They attempted to reconcile and in 1984 they signed a formal agreement, which won Lillian 33% of his estate. (In a 2008 interview with The Real Deal, Jane said I think we all have regrets about that period. Today, licensed jackets are just 5 percent of Outerstuffs business, while youth apparel is more than 25 percent the size of the adult market. A glimpse into the lives of the richest, most prolific families in America, and how they builtand sustainedtheir empires. Jew, focused very much on the themes of integrity and Jewish Outerstuff, Ltd. Announces Blackstone Equity Investment Kirk Pinho is a senior reporter covering commercial real estate. Under normal circumstances, Sol Werdiger, founder and CEO of Outerstuff the popular youth sports apparel manufacturer is a gregarious presence on Super Bowl weekends. Alex died that same year and his sons literally flipped coins with Sol, playing heads or tails to divvy up the rest of the portfolio. He has formed life-long relationships with some of the world's biggest Rebbas and Gidolim. Solil Management, a portmanteau of Sol and Lillian, still doesnt have a company website featuring trophy properties like most investors use, but a bit of digging - through the lawsuits detailing the family feud and hundreds of land records - shows that Sols heirs own at least 400 New York City properties including high-end apartments on the Upper East Side, the block of land in Midtown Manhattan that includes the Olympic Tower and the Cartier Mansion, and the landmark Peninsula Hotel. During the devastating downturn, Sol and Alex had to dump nearly 40% of their propertiesto pay off debtors. Sol Werdiger - Chief Executive Officer for Outerstuff International Ltd. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. I have no ownership in the (headquarters) building, no ownership in the company, and they're actually doing a pretty good job without me.". The project is set to be more than 1.1 million square feet covering 87 acres of the former home of the Detroit Pistons. E-mail us at JewsYouShouldKnow@gmail.com. He addedthe Chrysler Building in 1960. Outerstuff International Ltd. The latest personnel hires and promotions, plus exclusive ratings and research from the sports industry. It is classified as operating in the Apparel, Piece Goods & Notions Merchant Wholesalers industry. Regions Greater New York Area, East Coast, Northeastern US. We have 600,000 SKUs in our NFL business alone, said Werdiger, with a tone of disbelief at the statement. Werdiger called Torgow a "close, loyal friend" in a Hamodia newspaper article last year and said that his and Torgow's relationship goes beyond friendship and into politics and public policy. A rendering of the planned headquarters in downtown Detroit, produced before Chemical Bank's merger with TCF Bank was announced. Youngest daughter Jane, who oversees Solil's daily operations, is the only female billionaire running a real estate portfolio. Follow Blackstone on Twitter @Blackstone. America's Richest Real Estate Family Doesn't Want You To Know - Forbes At any given moment, we carry 4 or 5 million blanks [apparel without printing], and last year, we brought in and shipped more than 38 million garments., KEY LICENSES: One is like renting billboards. "I have no ownership of the Sterling Group. Outerstuff has established itself as an industry leader in the branded youth apparel market by leveraging its in-house design team, low-cost manufacturing, sophisticated demand-planning. Please visit www.JewsYouShouldKnow.com, follow us on Twitter Transform pay with our enterprise-grade comp platform, Automate compensation with our full-suite solution, Payscale's employer-reported salary data network, The world`s largest employee-submitted pay database, Annual survey salary data from HR industry publishers, The crowdsourced compensation data API for developers, 100% company submitted data from 2,000+ businesses, Schedule a personalized demo to feel the power of Payscale, Find salary information for similar job titles and locations, Comp Planning Business Case Pitch Deck By clicking Download Pitch Deck, you. https://www.sportsbusinessjournal.com/Journal/Issues/2016/07/11/Marketing-and-Sponsorship/Company-Watch-Outerstuff.aspx. Sol Werdiger of New York City was identified as being a 50 percent owner of an entity called GPC Adams LLC that stands to earn hundreds of millions of dollars in revenue in the long term under a lease agreement for the 20-story building planned for the corner of Woodward Avenue and Elizabeth Street. Photo Courtesy of the Goldman Family. Almost any sports specialty, mass merch or sporting goods store. . Daily updates aggregating the stories and spin from more than 600 outlets across the globe. Through his interface with commissioners, franchise owners The deal has drawn attention because of the relationship between Gary Torgow, who was chairman of Chemical Bank before its merger with TCF Bank, and the group that will be the new TCF Bank's landlord. Mr Sol Werdiger (CEO of Outerstuff and community activist - Facebook Born to Holocaust survivors, Sol was raised to always push himself to grow closer to Hashem. For information on our privacy practices see our Privacy Policy. A young Sol Goldman, who would go on to build one of New York City's most valuable real estate [+] portfolios. affairs. Youngest daughter Jane, who oversees Solil's daily operations, is the only female billionaire running a real estate portfolio. An athletic footwear brand, likely Nike or Under Armour, is expected to buy VFs remaining upstairs retail rights. Solomon R Werdiger, 71 - Brooklyn, NY - Reputation & Contact Details Its a blip on the whole picture of who my father was and the things he accomplished. It was her last public interview, and she and the rest of her siblings declined to be interviewed for this story. The company also produces items for the U.S. Olympic Committee and more than 200 colleges and universities, and Adidas youth apparel. Outerstuff, Ltd. Announces Blackstone Equity Investment Longtime MLB jersey rights holder Majestic is up for sale by its parent, VF, and Werdiger said Outerstuff is aggressively going after the portion of VFs business sold through mid-tier and mass retail channels. Andrew Steinerman FOUNDER AND PRESIDENT UNICOM TELECOM, INC Managing Partner and Portfolio Manager, Rivulet Capital Ben Nash Dan Loeb [Fanatics] can max out e-commerce; well be happy to be the sports licensee thats maxing out the brick-and-mortar licensed sports apparel business., Tony Petitti era begins at Big Ten; Can the Senators really land a $1B deal? Outerstuff's Debt Ratings Upgraded | SGB Media Online Outerstuff has already signed two soccer pros to back Umbros relaunch: Mix Diskerud of the MLS NYCFC and the NWSL Washington Spirits Cheyna Williams. However, she said, ongoing diligence is needed. | Starting next Wednesday, May 22 join Olami Professional Circles here in Miami. "At Outerstuff, our vision is to become the preeminent global provider of apparel serving our sports league and brand partners," said Sol Werdiger, Outerstuff founder and chief executive. Search our database of over 100 million company and executive profiles. in our world. Sol Werdiger was the Founder & CEO at Outerstuff. What is Solomon Werdiger's current address? Access to easy-to-read digital editions of weekly issues. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. Blackstone will invest alongside founder and CEO Sol Werdiger, who will roll over equity in the transaction, and Blackstone will share equal economics and governance with the current shareholders. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Whether he's attending the latest super bowl, facilitating the Siyum Hashas in MetLife stadium, or dealing with his staff - he is always focused on making a kiddush Hashem.Powered by:AMR Pharmacy - https://bit.ly/AMRphaDailyGiving.org - https://bit.ly/DailyGiSubscribe to our Podcast!Apple Podcasts: https://apple.co/2WALuE2Google Podcasts: https://bit.ly/MPPGooglePodcastsSpotify: https://spoti.fi/39bNGnOStitcher:https://bit.ly/MPPStitcherOr wherever Podcasts are available!Follow us on Instagram:https://instagram.com/meaningfulpeoplepodcastLike us on Facebook:https://bit.ly/MPPonFBFollow us on Twitter:https://twitter.com/MeaningfuPplPodFor more info and upcoming new check out:https://MeaningfulPeoplePodcast.com#jew #jewish #podcast #frum #rabbi #frumpodcast #meaningfulpeople #torah #mitzvah #hashem #thankyouhashem #jewishsinger #jewishsingers #jewishmusic #jewishpodcast #israel #solwerdiger #outerstuff #agudah #theagudah #AgudathIsraelofAmerica Jane oversees the daily operations of the real estate company her father built. 49 print issues delivered to your home or office. They have complete ownership of it. At the top of the licensed-sports apparel market, elite sports properties are selling deals based more on the value of TV exposure than on what their apparel rights are worth at retail. Number of Founded Organizations 1. We have lots of information about Solomon: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Democrat. Jewish Insider. About Outerstuff Address: New York, New York Website: http://www.outerstuff.com/ Industries: Sporting Goods, Manufacturing Founded on: January 1st, 1983 Number of Employees: 501 - 1,000 "About. At the time, the youth business was around a tenth the size of the adult licensed sports apparel market. Upgrade your subscription to get all the news you need: Adding SBJ weekly content will give you the comprehensive view of sports business with: Adding SBJ daily content will give you the comprehensive view of sports business with: You have 1 All Access article remaining this month. Portions of this site are directed only to persons in certain jurisdictions. Sullivan & Cromwell served as legal advisor to Outerstuff during the transaction. To view recent press releases,click here. Why do people leave their jobs? 4 Impactful Programs. sports leagues in the United States. (Photo courtesy of the Goldman family), portfolios. Try another search query or. Chemical Bank has said in filings with the U.S. Securities and Exchange Commission that Torgow "recused himself from all Board deliberations related to this lease agreement, and none of (the) adult children are directors, officers or employees of (Chemical Financial Corp.) or Chemical Bank. When Lillian died in 2002, her estate (including cash and properties worth $374 million) was divided nearly equally among her children, according to court documents obtained by FORBES. We do this through the commitment of our extraordinary people and flexible capital. Switchboard:+1 (212) 583-5000. The Audit Committee of the Board [of which (Gary) Torgow is not a member] also approved this lease agreement.". That would allow Outerstuff the rights to make and sell sports apparel through these mass merchandise and big box stores. New research shows that each woman experiences the disparity of gender pay gap in different ways, depending on her position, age, race and education. But each is a Jew You Should Know. On Leadership - The 5 Towns Jewish Times The company says on its website that it has licenses to produce apparel with Major League Baseball, the National Football League, the National Hockey League and National Basketball Association, as well as Major League Soccer and the U.S. Olympic Committee. Sol appeared on the first Forbes 400 list of Richest Americans in 1982, with a net worth estimated at $200 million. We are excited to partner with Sol and his outstanding management team and we look forward to supporting Outerstuffs continued growth and expansion.. Subscribe. Active 2005 1 Chief Executive Officer Excel Known Addresses for Sol Werdiger. latest-news-headlines There are two parts of this business today, Werdiger said. Outerstuff - Crunchbase Company Profile & Funding Werdiger's business is likewise booming. Timely, daily updates provide the latest developments and news relied upon by industry leaders. Headquartered in New York, New York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to be CEO today, and has built a market-leading position by delivering high quality products and sales performance to its league and apparel partners. Thats enough to make the Goldmans Americas richest real estate family, and to rank them 16th among the country's richest families - ahead of the clan that created to one day take over the company with his cousin. Solil hasworked with billionaire Jeff Sutton, who has a 49-year lease on Solil land for a Harlem loft with development potential, and Extells Gary Barnett, who is behind the high-rise, One57, home to billionaires including Bill Ackman. Why change when Sol's legendary framework has gotten them to their agile position today? 2023 Leaders Group. "Our partnership with Blackstone gives us the financial resources and expertise we need to realize that vision. Sol Werdiger - Crunchbase Person Profile Otherwise, we will assume you're OK to continue. Ratings had downgraded Outerstuff in May 2020 to SD after it missed an interest and principal payment due March 31 on its term loan. To view recent press releases, click here. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. The company also produces items for the U.S. Olympic Committee and more than 200 colleges and universities, and Adidas youth apparel. The main point is not to sell anything," Sol told FORBES in 1985, when his net worth was estimated at $450 million. Outerstuff LLC was upgraded today by S&P Global Ratings to CCC and a negative outlook, from Selective Default, or SD, after term loan lenders agreed, in October, to stretch their maturity out to December 2023, and the company paid their back-due interest and principal. Diane, 70, headed the residential leasing department for several decades, when she scaled back also due to health issues several years ago. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. "He knew in the long run he would own something with much greater value than what he paid for it. Sol Goldman, with his youngest daughter, Jane, in an undated photo taken before Sol passed away in [+] 1987. Blackstone is one of the worlds leading investment and advisory firms. We believe in the long term strength of the New York City real estate market and think that if we manage our holdings patiently without taking on excess risk and leverage we should be able to weather many of the challenges that we are sure to encounter as we grow with the company, Steven Gurney-Goldman, Allan's son, told FORBES recently. For press inquiries, contact[emailprotected]. A development structure in which Chemical Bank owned the building had been envisioned but that changed to a lease arrangement as one of the negotiating points with TCF, Tom Wennerberg, a spokesman for Chemical Bank, said at the time. But it's their plans to transform a parking garage in Tribeca into mixed residential and retail high-rise, as Solil's first-ever sole development, that will make others take notice. Solil and BLDG both also have some properties outside the New York area. Outerstuff's annual revenues are $100-$500 million (see exact revenue data) and has 100-500 employees.
