The Fishers' smaller portfolio might make them seem like second-tier players. Don't be fooled, says CB Richard Ellis vice-chairman Darcy Stacom: "People don't realize how much of an impact they make." She's referring to the City Investment Fund, a $4 billion pool created by the Fishers and Morgan Stanley that invests in real estate. Indeed, the Fishers have been broadening their business (they also provide construction services for other developers) since the 1980s, when brothers Tony and Richard and their cousin Arnold ran the firm. Tony and Richard died in 2003 and 2006, respectively, leaving it in the hands of Arnold and the next generation: Kenneth, Steven, and Winston. Next project: Luxury condos on the East River site of a former power plant.
