Christopher M. Jeffries
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Christopher Michael Jeffries is an American real estate developer, lawyer, and philanthropist who co-founded the national real estate firm Millennium Partners, known for the development of the Millennium Towers in
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,
Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...
, and
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as well as the redevelopment of Hotel St. Moritz.


Education

Jeffries graduated from Columbia College in 1972 and
University of Michigan Law School The University of Michigan Law School (branded as Michigan Law) is the law school of the University of Michigan, a public research university in Ann Arbor, Michigan. Founded in 1859, the school offers Master of Laws (LLM), Master of Comparati ...
in 1974.


Career

After receiving his J.D. degree, Jeffries began his career as a lawyer in the
Southfield, Michigan Southfield is a city in Oakland County, Michigan, Oakland County in the U.S. state of Michigan. An inner-ring suburb of Detroit, Southfield borders Detroit to the north, roughly northwest of downtown Downtown Detroit, Detroit. As of the 2020 Uni ...
, law firm of Keywell & Rosenfeld. He then served as a principal in the leveraged buyout of Key International Inc., a metal recycling and automotive equipment manufacturing business.


General Atlantic

Jeffries met Philip Aarons, who was chairing the New York City Public Development Corporation at that time and the two worked on housing developments in Staten Island. The two joined
General Atlantic General Atlantic, legal main entity General Atlantic Service Company, L.P., (also known as "GA") is an American growth equity firm providing capital and strategic support for global growth companies, headquartered in New York, United States. T ...
and ran its real estate division. Throughout the 1980s, he and Aarons constructed subsidized low-income housing in
Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...
and
Brooklyn Brooklyn is a Boroughs of New York City, borough of New York City located at the westernmost end of Long Island in the New York (state), State of New York. Formerly an independent city, the borough is coextensive with Kings County, one of twelv ...
. In April 1990, the American Broadcasting Company decided to sell two full blocks on the East Side of
Broadway Broadway may refer to: Theatre * Broadway Theatre (disambiguation) * Broadway theatre, theatrical productions in professional theatres near Broadway, Manhattan, New York City, U.S. ** Broadway (Manhattan), the street ** Broadway Theatre (53rd Stre ...
between Sixty-Eighth and Sixty-Ninth Streets. However, it was also a time of recession and it was difficult to get financing for almost any construction. A syndicate led by William Zeckendorf Jr. and Martin J. Raynes fell apart because they were unable to secure funding, and the latter was driven to bankruptcy in 1991 after the real estate downturn. Jeffries then stepped in to take over the project, but his superiors at
General Atlantic General Atlantic, legal main entity General Atlantic Service Company, L.P., (also known as "GA") is an American growth equity firm providing capital and strategic support for global growth companies, headquartered in New York, United States. T ...
thought the deal was infeasible. As a result, Jeffries and Aarons departed
General Atlantic General Atlantic, legal main entity General Atlantic Service Company, L.P., (also known as "GA") is an American growth equity firm providing capital and strategic support for global growth companies, headquartered in New York, United States. T ...
and were given the right to proceed with their transaction from the company. Jeffries and Aarons, joined by Philip Lovett, started their own real estate firm, Millennium Partners, in 1990.


Millennium Partners

Millennium won the backing of
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and
American Broadcasting Company The American Broadcasting Company (ABC) is an American Commercial broadcasting, commercial broadcast Television broadcaster, television and radio Radio network, network that serves as the flagship property of the Disney Entertainment division ...
offered them a $13 million reduction in the $105 million purchase price for the land. Eager to keep the deal alive, Jeffries came up with $1 million of his own money to secure the agreement. However, further challenges lies ahead in securing the remaining $81 million in a credit-scarce market. Jeffries came up with a novel way of financing the project by developing a mixed-used, urban entertainment, retail, office, and residential complex and pre-selling different segment of the building to various owners, both individuals and corporations. The use of the building would also be differentiated by having two separate entrances for commercial and residential uses. By 1991, he secured financial commitments from
Sony is a Japanese multinational conglomerate (company), conglomerate headquartered at Sony City in Minato, Tokyo, Japan. The Sony Group encompasses various businesses, including Sony Corporation (electronics), Sony Semiconductor Solutions (i ...
(whose space later was sold to Loews Theater),
LA Fitness Fitness International LLC is a North American gym chain with over 700 clubs across the United States and Canada. The company was founded in 1984 and is based in Irvine, California. History In 1984, the first LA Fitness was founded by founder C ...
,
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,
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, as well as J.P. Morgan & Co. as future tenants of Millennium Tower. Their initial success has allowed them to develop two other buildings in
Lincoln Square, Manhattan Lincoln Square is the name of both a square and the surrounding neighborhood on the Upper West Side of Manhattan in New York City. Lincoln Square is centered on the intersection of Broadway and Columbus Avenue, between West 65th and 66t ...
, One Lincoln Square and the Grand Millennium. The announcement of Millennium Tower brought controversies over its density, height, and design, that
Brendan Gill Brendan Gill (October 4, 1914 – December 27, 1997) was an American journalist. He wrote for ''The New Yorker'' for more than 60 years. Gill also contributed film criticism for ''Film Comment'', wrote about design and architecture for Architectu ...
described the 'immense structure' as 'grossly over-scaled' and objected to the 'exceptionally busy' mix of uses. Those protests later helped set new zoning laws in the district. The Millennium Tower was, nevertheless, a commercial success that attracted celebrity tenants such as
Howard Stern Howard Allan Stern (born January 12, 1954) is an American broadcaster and media personality. He is best known for his radio show, ''The Howard Stern Show'', which gained popularity when it was nationally syndicated on terrestrial radio from 1 ...
,
Liam Neeson William John Neeson (born 7 June 1952) is an actor from Northern Ireland. He has received List of awards and nominations received by Liam Neeson, several accolades, including nominations for an Academy Award, a British Academy Film Award, BAFT ...
,
Jon Bon Jovi John Francis Bongiovi Jr. (born March 2, 1962), known professionally as Jon Bon Jovi, is an American singer, songwriter, guitarist, and actor. He is best known as the founder and Lead vocalist, frontman of the rock band Bon Jovi, which was fo ...
, and
Regis Philbin Regis Francis Xavier Philbin ( ; August 25, 1931 – July 25, 2020)Archived aGhostarchiveand thWayback Machine was an American television presenter, comedian, actor, and singer. Once called "the hardest-working man in show business", he held th ...
, earned over a quarter billion dollars and inspired other real estate developers to follow suit. According to Michael Gross, author of '' House of Outrageous Fortune'', the children of real estate developer
William Zeckendorf William Zeckendorf Sr. (June 30, 1905 – September 30, 1976) was a prominent American real estate developer. Through his development company Webb and Knapp — for which he began working in 1938 and which he purchased in 1949 — he developed ...
later used Jeffries' pioneering formula in developing
15 Central Park West 15 Central Park West (also known as 15 CPW) is a luxury residential condominium along Central Park West, between 61st and 62nd Streets adjacent to Central Park, on the Upper West Side of Manhattan in New York City. It was constructed from 2005 ...
as their family was investors in the Millennium Tower as well. Jeffries later partnered with
The Ritz-Carlton Hotel Company The Ritz-Carlton Hotel Company, LLC is an American multinational company that operates the luxury hotel chain known as The Ritz-Carlton. The company has 108 luxury hotels and resorts in 30 countries and territories with 29,158 rooms, in addit ...
and
Four Seasons Hotels and Resorts Four Seasons Hotels Limited, trading as Four Seasons Hotels and Resorts, is a Canadian luxury hotel and resort company headquartered in Toronto, Ontario, Canada. Four Seasons currently operates more than 100 hotels and resorts worldwide.David Se ...
to replicate similar real estate projects that combine condominiums and hotels in mixed-used complexes in other cities, totaling $2 billion in investment. Among the cities is
San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...
, where he developed the Millennium Tower, controversial for its sinking foundations and tilting problems, and
Four Seasons Hotel, San Francisco The Four Seasons Hotel San Francisco & Residences is a mixed-use development at 757 Market Street in San Francisco, California, United States, near the Moscone Center. Completed in January 2001, the tower was the first skyscraper of the 21st ...
. In addition to the under construction Winthrop Center, he has helped develop Millennium Tower,
Millennium Place Millennium Place is a luxury residential building located in Boston, Massachusetts. The building completes Boston's Avery Street corridor development, which includes the Ritz Carlton Hotel & Residences, Equinox Fitness Club, and the AMC Loews B ...
, and owned the historic
Ritz-Carlton The Ritz-Carlton Hotel Company, LLC is an American multinational company that operates the luxury hotel chain known as The Ritz-Carlton. The company has 108 luxury hotels and resorts in 30 countries and territories with 29,158 rooms, in addit ...
Hotel in
Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...
. In Miami, he spearheaded the development of the
Four Seasons Hotel Miami The Four Seasons Hotel and Tower, also known as the Four Seasons Hotel Miami, is a 70-story, skyscraper in Miami, Florida. Located in downtown Miami's Brickell Financial District, it is the third tallest building in Miami and in Florida. Th ...
, which was the tallest building in the city from 2003 to 2017. In Washington, DC, he helped the development of The Ritz-Carlton, Washington, D.C. as well as
The Ritz-Carlton, Georgetown The Ritz-Carlton Georgetown, Washington, D.C., is a luxury hotel located in the Georgetown neighborhood of Washington, D.C. It is near The Kennedy Center and the Georgetown waterfront. It is an AAA 5-star luxury hotel, and has 86 rooms, 27 prem ...
. Through Millennium Partners, he owns the Hotel St. Moritz, which he developed into The Ritz-Carlton New York, Central Park, as well as condominiums and led to a turnaround of its status, attracting prominent tenants such as
Jean-Marie Messier Jean-Marie Messier (born 13 December 1956) is a French businessman who was chairman and chief executive of the multinational media conglomerate Vivendi (formerly Vivendi Universal) until 2002. He is also frequently referred to by nicknames such ...
,
Sidney Kimmel Sidney J. Kimmel (born January 16, 1928) is an American businessman, philanthropist, and film producer. He is ranked 2141st in the ''Forbes'' list of the richest people alive in 2021. Personal life Kimmel was born into a Jewish family in Phi ...
,
Larry Ellison Lawrence Joseph Ellison (born August 17, 1944) is an American businessman and entrepreneur who co-founded software company Oracle Corporation. He was Oracle's chief executive officer from 1977 to 2014 and is now its chief technology officer a ...
, and
Mitchell Rales Mitchell P. Rales (born August 1956) is an American businessman and art curator. He co-founded Danaher Corporation with his brother Steven Rales in 1984 and the art museum Glenstone with his wife Emily Wei in 2006. Rales is also the chairman of ...
. Jeffries' condo in the building, purchased in 2002, was the highest-priced in the New York real estate market when it was sold in 2012.


Philanthropy

In 2018, Jeffries and his wife, Lisa, committed $33 million to the
University of Michigan Law School The University of Michigan Law School (branded as Michigan Law) is the law school of the University of Michigan, a public research university in Ann Arbor, Michigan. Founded in 1859, the school offers Master of Laws (LLM), Master of Comparati ...
, which is the largest donation the school has received. His total contribution to
University of Michigan The University of Michigan (U-M, U of M, or Michigan) is a public university, public research university in Ann Arbor, Michigan, United States. Founded in 1817, it is the oldest institution of higher education in the state. The University of Mi ...
is $40 million, including $5 million for a new campus building renamed Jeffries Hall in his honor, and $2.5 million for the law school's 1L Summer Funding Program. In March 2020, he donated $25 million to the
Henry Ford Health System Henry Ford Health is an integrated, not-for-profit health care organization in the U.S. state of Michigan. Headquartered in Detroit, Henry Ford Health is the second-largest health system in Michigan, operating 13 hospitals across the Detroit, Ge ...
in
Detroit Detroit ( , ) is the List of municipalities in Michigan, most populous city in the U.S. state of Michigan. It is situated on the bank of the Detroit River across from Windsor, Ontario. It had a population of 639,111 at the 2020 United State ...
, which is the largest single donation in the system's 105-year history. The money will be used to help advance cancer research and treatment.


Personal life

Outside his business career, he is most known for being the former husband of
Princess Yasmin Aga Khan Yasmin Aga Khan (born December 28, 1949) is a Swiss-born American philanthropist known for raising public awareness of Alzheimer's disease. She is the younger daughter of American movie actress and dancer Rita Hayworth, and the third child of ...
, the daughter of actress
Rita Hayworth Rita Hayworth (born Margarita Carmen Cansino; October 17, 1918May 14, 1987) was an American actress, dancer, and Pin-up model, pin-up girl. She achieved fame in the 1940s as one of the top stars of the Classical Hollywood cinema, Golden Age of ...
and
Prince Aly Khan Prince Aly Salomone Khan (13 June 1911 – 12 May 1960), known as Aly Khan, was an Ismaili sayyid, socialite and ambassador for Pakistan. He was the son of the Aga Khan III, and the father of Aga Khan IV. A socialite, racehorse owner and jocke ...
, son of
Aga Khan III Sir Sultan Muhammad Shah (2 November 187711 July 1957), known as Aga Khan III, was the 48th Imamate in Nizari doctrine, imam of the Nizari Isma'ili, Ism'aili branch of Shia Islam. He was one of the founders and the first permanent president of ...
. The couple had been active in organizations promoting research in Alzheimer's disease. They married in 1989 and their reception attracted a high-profile crowd include UN Secretary General
Javier Pérez de Cuéllar Javier Felipe Ricardo Pérez de Cuéllar de la Guerra ( , ; 19 January 1920 – 4 March 2020) was a Peruvian diplomat and politician who served as the fifth secretary-general of the United Nations from 1982 to 1991. He later served as prime min ...
, Senators
Chris Dodd Christopher John Dodd (born May 27, 1944) is an American lobbyist, lawyer, and Democratic Party (United States), Democratic Party politician who served as a United States senator from Connecticut from 1981 to 2011. Dodd is the List of United Sta ...
and
Larry Pressler Larry Lee Pressler (born March 29, 1942) is an American lawyer and politician from South Dakota who served in the United States House of Representatives from 1975 to 1979, and United States Senate from 1979 to 1997, as a Republican. He remained ...
, author
Jerzy Kosiński Jerzy Kosiński (; born Józef Lewinkopf; 14 June 19333 May 1991) was a Jewish-Polish-American writer and two-time president of the American chapter of P.E.N., who wrote primarily in English. Born in Poland, he survived World War II there, ...
, songwriter
Ahmet Ertegun Ahmet Ertegun ( ; , ; July 31, 1923 – December 14, 2006) was a Turkish-American businessman, songwriter, record executive and philanthropist. Ertegun was the co-founder and president of Atlantic Records. He discovered and championed many lead ...
, and
Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who is the 47th president of the United States. A member of the Republican Party (United States), Republican Party, he served as the 45 ...
. The couple divorced in 1993, citing abandonment.


References

{{DEFAULTSORT:Jeffries, Christopher M. Columbia College (New York) alumni University of Michigan Law School alumni American businesspeople in real estate Private equity and venture capital investors American philanthropists Living people Year of birth missing (living people)