Andrew Farkas Net Worth 2026: Island Capital Founder

Andrew L. Farkas, the New York real estate investor who founded Insignia Financial Group, C-III Capital Partners and Island Capital Group, is described by The New York Times as a billionaire. No reputable publisher we found gives a specific figure. The $17 million number that used to lead this page was far too low, had no source and has been removed. His fortune rests on three decades of commercial real estate deals, a marina business sold in 2021, and property sales such as a Palm Beach house that went for $51 million in 2025.

What is Andrew Farkas's net worth?

In a February 2026 report, The New York Times referred to Farkas as "the billionaire" but did not put a number on his wealth. Forbes, Bloomberg and Celebrity Net Worth do not publish a figure for him either. Because we will not invent an estimate, this page records his net worth as not published, while noting that the Times places it at $1 billion or more.

The public record shows the scale of his dealings:

• Island Capital's acquisitions include the $373 million Sheraton Times Square, the Times reported.
• An Upper East Side townhouse he bought in 2007 sold for $41 million after he listed it in 2014, and a Palm Beach house sold for $51 million in 2025, according to Wikipedia, citing press reports.
• Island Global Yachting, his marina company, was sold to MarineMax in 2021.

Andrew Farkas yearly earnings, monthly income and salary

The old page estimated his income at $400,000 a year, $33,000 a month and $1,300 a day. That had no source and does not fit someone the Times calls a billionaire. His companies are private, so his actual yearly income is not disclosed. We have removed the table.

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Early life and education

Farkas, born in 1960, grew up in Jamaica, Queens, and attended Trinity School in Manhattan. His father, Robin L. Farkas, was chairman and chief executive of the Alexander's department store chain from 1984 to 1993; the Times describes Andrew as the scion of the family that built Alexander's. His mother died when he was 11. He studied economics at Harvard College, graduating in 1982, and was president of the Hasty Pudding Club. Harvard's Farkas Hall, home of the Hasty Pudding Theatricals, is named after his father, whom he honored with a donation.

Career

His main investment vehicle is Island Capital Group, a New York merchant bank. C-III Capital Partners, the commercial real estate lender and servicer he founded in 2010, "has been substantially monetized and is in the process of being wound down", according to a March 2026 Greystone and C-IV announcement. C-IV Capital Partners, sponsored by Island Capital, now invests across commercial real estate equity and debt. The old page's description of him as CEO of C-III and founder of "Anubis Advisors" could not be confirmed and has been replaced with these sourced details.

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Recent news: the Epstein files (2026)

Farkas was a business partner of Jeffrey Epstein. In 2019 it was reported that Epstein owned half of the American Yacht Harbor marina in St. Thomas and Farkas owned the other half. After the Justice Department released millions of pages of Epstein documents on January 30, 2026, the Times reported that they included nearly 2,000 emails between the two men over more than a decade, and described a close friendship and a business partnership that brought both of them tax breaks in the U.S. Virgin Islands.

Farkas said in a statement that he deeply regretted ever associating with Epstein and that he had never conducted himself inappropriately. He has not been charged with any crime or accused of any impropriety, the Times noted. At Harvard, The Harvard Crimson reported that Hasty Pudding Theatricals students petitioned for his resignation as chair of the Hasty Pudding Institute, and alumni asked the university to rename Farkas Hall.

Politics and personal life

Farkas was one of the main fundraisers for former New York governor Andrew Cuomo. He is a keen yachtsman. He and his second wife divorced in 2016. The old page named a wife, Pamela Stedman; we could not confirm that in a reliable source and have removed it, along with the unsourced height, weight and age.

How this page was checked

Biography and deals come from Wikipedia, cross-checked against The New York Times (via a syndicated copy), a 2026 company announcement and The Harvard Crimson. The only wealth description from a major publisher is the Times calling him a billionaire; we report that wording rather than an invented number.