Mark Siffin, the Chairman and CEO of the Maefield Development Platform family of companies since its inception in 1991, is a man of rare and extraordinary vision. His background in trading with the Chicago Mercantile Exchange and his long-standing fascination with both real estate and global trading markets positioned him perfectly for the role he now plays, planning the strategic direction of Maefield Development and leading the company to ever-greater successes.
Maefield Development, a privately-owned real estate company, has excelled in every venture to date, including residential, commercial, and mixed-used development projects. This is largely due to the leadership, vision, and innovation that Mark Siffin brings to the table. Although Maefield Development is a relatively small company, the diligence and responsiveness the company prides itself on have resulted in nabbing coveted deals in high-profile arenas, including development projects in New York City's Times Square.
Mr. Siffin's insistence on following the transformation of Times Square over more than a decade allowed Maefield Development to broker a deal with Marriott International to develop the property at 701 Seventh. The $1.1 billion project will result in a 450-room Edition Hotel positioned atop a 120,000-square-foot retail/entertainment space, with a projected value of $3 billion at completion. With a 50% stake in the project, Maefield Development will see significant gains. In fact, the company has already landed further development deals in Times Square as a result of this venture.
In addition, Maefield Development is currently pursuing inroads into upstream energy development, thanks to Mr. Siffin's keen eye. With patience and acute assessment, Mr. Siffin was able to pinpoint ideal circumstances under which to acquire and develop over 8,000 acres of oil-rich land in the Permian Basin in Texas, a coveted region that is largely dominated by major oil and gas interests. This property is now producing 1,500 barrels a day, with expansion underway, and stands to yield incredible returns.
When Maefield Development was first founded, the company focused largely on residential developments before branching out into mixed-used projects in the late 1990s. Under the leadership and direction provided by Mr. Siffin, the company tackled a 3-block development project along Sunset Boulevard in West Hollywood, CA, as well as a 600-acre land assemblage outside Indianapolis, IN. In the years that followed, the company would expand to compete for jobs in urban and suburban areas, with projects ranging from single-family and multi-family residences to office and retail spaces.
During Mr. Siffin's tenure as Chairman and CEO of Maefield Development, the company has processed over 6 million square feet of real estate, and the vertically-integrated service and development organization is capable of handling every step of the process, from acquisition and construction to development and sales.
Mr. Siffin, for his part, plays an integral role in financing and acquisition of new development opportunities, not to mention overall management of the company. He also embodies the innovative spirit of this small company with big aspirations. With Mr. Siffin at the helm, Maefield Development has experienced incredible success over the last quarter century, and with a diverse profile of ventures and accomplishments, there is nothing to stop the firm from enjoying a profitable future.