{{Short description|American real-estate developer}} {{Infobox person | name = Isaac Hager | image = | caption = | birth_date = {{circa|1970s}} | birth_place = | birth_name = | other_names = | death_date = | death_place = | death_cause = | nationality = | education = | occupation = Real estate developer | known_for = Founder of Cornell Realty Management | children = | spouse = Shifra Hager | parents = | family = Mordechai Hager (grandfather) | website = }}
'''Isaac Hager''' is an American real estate developer who founded the New York City-based Cornell Realty Management.<ref name=RDHigher>{{Cite web|last1=Mairer |first1= Mark |last2=Small |first2= Eddie |title= Isaac Hager's higher power - The developer is gaining outer borough market share, despite a trail of foreclosures and lawsuits from his early real estate days |publisher=The Real Deal|date=May 1, 2018 |url= https://therealdeal.com/issues_articles/isaac-hagers-higher-power/ |accessdate=}}</ref>
==Biography== Isaac "Itzy" Hager was born in the 1970s and belongs to the Vizhnitz Hasidic Jewish community based in Williamsburg, Brooklyn. The grandson of Rabbi Mordechai Hager, he was raised in the small village of Kaser, New York founded by his grandfather.<ref name=RDHigher />
In the 1990s, he moved to Willamsburg, where he worked for a packaging equipment company before partnering with diamond trader and real estate developer, Chaim Lax (father of Moshe Lax) in the 2000s. Their real estate development firm, North Development Group, built several high rises in then low-rise North Williamsburg which were very successful. After the death of Lax, Hager had difficulty obtaining financing for legacy obligations of their partnership and filed for bankruptcy in 2009 eventually selling his existing portfolio to Louis Kestenbaum's Fortis Property Group, Xinyuan Real Estate, and Joseph Chetrit's Chetrit Group.<ref name=RDHigher />
After the recession of the 1990s, Hager re-established his firm under the Cornell Realty Management name. Taking a more conservative approach to development by partnering with larger players - such as Hudson Realty Capital, Madison Realty Capital and L&L Capital Partners - and using funds raised in the Hasidic community, he has been able to rebuild his business.<ref name=RDHigher /><ref>{{Cite web|first= |last=|title=Isaac Hager Scores $64M Construction Loan for Williamsburg Project |publisher=The Jewish Voice|date=November 27, 2017 |url=http://thejewishvoice.com/2017/11/22/isaac-hager-scores-64m-construction-loan-for-williamsburg-project/ |accessdate=}}</ref>
Since 2017, he has faced opposition from activists when he proposed building a 565-unit apartment complex in Crown Heights, Brooklyn;<ref>{{Cite web|first= |last=|title=Isaac Hager takes Crown Heights rezoning off the table … for now developer to take second look at rezoning lots for 565 apartments |publisher=The Real Deal|date=April 20, 2017 |url=https://therealdeal.com/2017/04/20/isaac-hager-takes-crown-heights-rezoning-off-the-table-for-now/ |accessdate=}}</ref> in April 2019, a judge issued a restraining order against the project.<ref>{{Cite web|first= Lore |last=Croghan |authorlink= |title= Judge issues restraining order to halt development near Brooklyn Botanic Garden |publisher=Brooklyn Eagle|date=April 18, 2019 |url=https://brooklyneagle.com/articles/2019/04/18/judge-issues-restraining-order-to-halt-development-near-brooklyn-botanic-garden/ |accessdate=}}</ref> His company, along with city councilwoman Laurie Cumbo, are defendants in a case about the controversial rezoning near the Brooklyn Botanical Garden that would allow for oversize towers to be built there.<ref>{{cite news|url=https://www.ny1.com/nyc/brooklyn/news/2019/10/08/judge-hears-arguments-over-rezoning-plan-near-brooklyn-botanic-garden-|title=Controversial Rezoning Argued in Brooklyn Supreme Court|date=8 October 2019|last=Ramirez|first=Jeanine|publisher=NY1}}</ref>
Along with fellow Hasidic developers Simon Dushinsky, Yoel Goldman, and Joel Schreiber, he is considered a prolific real estate developer in Brooklyn.<ref name=RDHigher /><ref>{{Cite web|first= |last= |authorlink= |title= LISTEN: TRD talks Hasidic real estate empire on WNYC: Ultra-Orthodox investors poured $2.5B into prime Brooklyn real estate |publisher=The Real Deal|date=August 26, 2016 |url=http://therealdeal.com/2016/08/26/trd-talks-hasidic-real-estate-empire-on-wnycs-all-things-considered/ |accessdate=}}</ref><ref>{{Cite web|first=Mike |last=Maurer|title=Learning and earning: Hasidic Brooklyn's real estate machers: Investors from ultra-Orthodox sect have spent $2.5B+ in 5 areas over past decade: TRD analysis |publisher=The Real Deal|date=August 22, 2016 |url=http://therealdeal.com/2016/08/22/learning-and-earning-hasidic-brooklyns-real-estate-machers/ |accessdate=}}</ref><ref>{{Cite web |first=Shimon |last=Weinberger |title=Chassidic Developers Dominate Brooklyn Real Estate Scene |publisher=Jewish Voice |date=August 24, 2016 |url=http://thejewishvoice.com/2016/08/24/chassidic-developers-dominate-brooklyn-real-estate-scene/ |accessdate= |archive-date=January 19, 2019 |archive-url=https://web.archive.org/web/20190119121556/http://thejewishvoice.com/2016/08/24/chassidic-developers-dominate-brooklyn-real-estate-scene/ |url-status=dead }}</ref>
==Personal life== He is married to Shifra Hager.<ref name=RDHigher />
==References== {{reflist}}
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{{DEFAULTSORT:Hager, Isaac}} Category:American Orthodox Jews Category:American businesspeople in the real estate industry Category:Businesspeople from New York City Category:Vizhnitz (Hasidic dynasty) members Category:Living people Category:People from Williamsburg, Brooklyn Category:Year of birth missing (living people)