Sterling Equities becomes latest LI developer to break up

Another Long Island development giant is splitting up. Sterling Equities co-founder Fred Wilpon, along with Richard and Scott Wilpon, left the company as part of a “planned organizational transition,” Newsday reported. Saul Katz and his family members are remaining with Sterling, as is Bruce Wilpon, Fred’s son. The departing Wilpons are expected to focus on other ventures, ending a partnership between Fred and Katz that dates back more than half a century. The separation is not expected to affect Sterling’s 150 employees. It’s also not expected to be an entirely clean split. Sterling Project Development Group, for instance, will be […]

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