Governance
Board of Directors
JAMES M. BETTER, CHAIR
Mr. Better has been a director of Merchants’ National Properties since 2002 and has served as Chairman since May 2010 and as a Member of the Dollar Land Associates, LLC Board of Managers since 2010. He is an Operating Partner of Kohlberg & Company, LLC, a private equity investment firm and the Chairman and Chief Executive Officer of Nellson Nutraceuticals, LLC, a Kohlberg portfolio company. Previously, Mr. Better was a Managing Director of Celerant Consulting, an operationally focused consultancy, and a General Partner of Capricorn Holdings, LLC, a private equity investment firm. Mr. Better is a graduate of Williams College and Stanford University’s Graduate School of Business.
CRAIG M. DEITELZWEIG
Mr. Deitelzweig joined Merchants’ National Properties, Inc. and its management and development arm, Marx Realty & Improvement Co., Inc. in August of 2017 as President and Chief Executive Officer. Mr. Deitelzweig has been a director of Merchants’ National Properties, Inc. since March, 2019 and a Member of the Dollar Land Associates LLC Board of Managers since 2018. Mr. Deitelzweig brings over 25 years of diverse real estate experience to Marx Realty. Prior to joining MNP, he oversaw a diverse portfolio of office, multifamily and hotel assets across the United States. Mr. Deitelzweig has experience at both private developer and private equity firms. Throughout his career, he has successfully spearheaded multiple repositionings across the country and across multiple asset groups. Mr. Deitelzweig is also an attorney, having worked in the real estate group of Skadden, Arps, Slate, Meacher & Flom LLP. Mr. Deitelzweig graduated cum laude from Tulane University’s A.B. Freeman School of Business and received his law degree from Fordham Law School.
LEONARD S. GRUENBERG, JR.
Mr. Gruenberg has been a director of Merchants’ National Properties, Inc. since 2006. He was formerly a Managing Director of Bear, Stearns & Co and JP Morgan Securities. He was previously a member of Dollar Land Associates, LLC Board of Managers and attended the University of Arizona.
JAMES MAGOWAN
Mr. Magowan has been a director of Merchants’ National Properties, Inc. since May 2017 and serves as Managing Director of Private Equity with responsibility for private capital raising transactions in real assets and operating companies at Arboreal Capital LLC. He recently served as Co-Founder and Interim CEO of Arboreal B.V. (Generation Forest Invest), a Netherlands Company, focused on biodiverse permanent reforestation in the tropics. Previously, Mr. Magowan has served as Managing Director at Sutter Securities, an owner at Security Research Associates, and as Director at Johnson Capital (Walker & Dunlop). Mr. Magowan is an investor in early-stage companies in decarbonization and financial inclusion. Mr. Magowan graduate of Harvard University and IMD International.
MARK MAGOWAN
Mr. Magowan has been a director of Merchants’ National Properties, Inc. since 2004, and was the Chairman from 2007 to 2010. He is President of The Vendome Press and a graduate of Harvard College and Oxford University. Mr. Magowan is the President of the Magowan Family Foundation.
RICHARD SCHOSBERG
Mr. Schosberg, a graduate of Cornell University, has been a director of Merchants’ National Properties, Inc. since 2017. He is Chair of the Audit Committee and a member of the Governance Committee. He has also been a director of many of the Marx Corporations for more than a decade. Richard is President of the Take2/Take The Lead Thoroughbred Retirement Program Inc. and former Vice President of the New York Thoroughbred Horsemen’s Association, Inc. He has chaired committees on governance, worker safety and housing, as well as thoroughbred aftercare and legislative issues.
JAMES A. STERN
Mr. Stern has been a Director of Merchants’ National Properties, Inc. since 2012. He is the Founder and Chairman of The Cypress Group, a NY based private equity firm and family office with $3.5 billion under management. He is also a member of the Dollar Land Associates, LLC Board of Managers. Prior to founding Cypress in 1994, Mr. Stern was a managing director of Lehman Brothers and a member of the Firm’s Executive Committee. He serves or has served on the boards of Cinemark USA, Infinity Broadcasting, Lear Corporation, OHA Investment Corporation, RP Scherer Corporation, Two Harbors Investment Corporation., and Wesco International. Mr. Stern is Chairman Emeritus of Tufts University and served as Chairman from 2003-2013. He is a board member of several charitable organizations including The Jewish Museum, WNET and The Cancer Research Institute. Mr. Stern is a graduate of Tufts University and Harvard Graduate School of Business Administration.
JOHN USDAN
Mr. Usdan has been a director of Merchants’ National Properties, Inc. since 1998. He is the CEO of Midwood Investment & Development, a company originally started by his grandfather in 1925. He has amassed 4.5 million feet of real estate in 8 states and the District of Columbia with 1,500 apartments in their development pipeline. Mr. Usdan’s philanthropic interests are primarily focused on education and the arts. He is a Trustee Emeritus of Wesleyan University, Board President of the Usdan Center and a member of the Hastings Center Board of Directors. Previously Mr. Usdan served as Chairman of the Board of Brandeis International Business School, Board President at Bronx House, Chair of Wesleyan’s Capital Campaign and on Ascena Board of Directors.
MATTHEW MAGUIRE
Mr. Maguire has been a Director of Merchants’ National Properties, Inc. since 2019 and is a member of the Audit Committee. Mr. Maguire was a member of the Dollar Land Associates LLC Board of Managers from 2010 to 2017. He has been a real estate professional in New York City for over twenty years. Mr. Maguire is President of Loeb Partners Realty, LLC, a privately held real estate company with a portfolio of over 4 million square feet of commercial properties and over 1,200 residential units. He previously served as Senior Vice President of the New York City Economic Development Corporation, overseeing the City’s post-9/11 business recovery. Mr. Maguire is a graduate of Dartmouth College and Harvard University’s Kennedy School of Government.
Committees
Nominating & Governance Committee
- Leonard S. Gruenberg, Jr. (Chair)
- Richard Schosberg
- Mark Magowan
- Matthew Maguire
- James M. Better, ex officio
Audit Committee
- Richard Schosberg (Chair)
- Mark Magowan
- Matthew Maguire
- James M. Better, ex officio
Compensation Committee
- James Magowan
- James Stern (Chair)
- John Usdan
- James M. Better, ex officio