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MaryAnne Gilmartin Exits Partnership to Launch Own Firm
MaryAnne Gilmartin is exiting the partnership she formed in January 2018 with L&L Company’s David Levinson and Robert Lapidus, Crain’s New York Business reported. Gilmartin, who left Forest City Ratner as its president and CEO, has exercised an option to exit the current partnership, known as L&L MAG.
“Two years ago, we put together a vision for a new development firm, and that partnership has been super-successful,” Gilmartin told Crain’s. “But we had always planned to get to a point where I could spin off and achieve my goal of leading a new company. I’m in a position now to go forward and have the capital partners I need.”
The new firm, known as MAG Partners, will continue to focus on ground-up projects. It will take over a project initiated by L&L MAG last March, a mixed-use development at 44-02 Vernon Blvd. in Long Island City.
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