Tritec‘s recent big deal involves people, not places. In a shift from one major real estate construction development business to another, Tritec Real Estate Company has named former RXR Realty Chief Financial Officer Michael O’Leary as its new Chief Financial Officer.
Tritec said O’Leary will oversee financial strategy, planning, and operations, “further strengthening the company’s leadership team as it continues to deliver transformative real estate projects across the region.”
“His expertise, vision, and proven leadership in guiding companies through growth and transformation will be invaluable as we continue to expand our portfolio and strengthen our position as a leader in real estate development,” Tritec Co-founders Bob and Jimmy Coughlan said in a joint statement.
The company said he brings more than 25 years of finance and accounting leadership experience, along with a proven ability to align strategic vision with disciplined execution.
“I’m honored to join Tritec at this exciting moment in its growth,” O’Leary said in a written statement. “I look forward to leveraging my experience to help scale the company’s financial infrastructure and support its long-term vision.”
Tritec has been financing and building major transit-oriented developments on Long Island, helping lead the region into a new era. This makes strong financial stewardship and strategy crucial.
Before joining Tritec, O’Leary served as RXR Realty’s Executive Vice President and Chief Financial Officer. RXR currently does not list a CFO among its management team.
In 18 years at RXR, O’Leary served in several key leadership roles, helping RXR grow from a $2 billion, 80-person company into a $20 billion enterprise with more than 500 employees, according to Tritec.
He joined RXR as a Capital Markets and Strategic Planning Associate in 2007, rising through the ranks to become a key player in RXR’s long-term strategic planning initiatives. He leads a team that supports fundraising and management for RXR’s real estate funds.
He also helped RXR establish its Fund Accounting and Fund Portfolio Management disciplines, serving as Executive Vice President of Capital Markets and Director of Property Accounting before becoming CFO.
Since being named RXR’s CFO in 2020, Tritec said he has directed financial management, strategic planning, and investor relations for the company.
O’Leary began his career at Ernst & Young LLP’s Real Estate Group, managing audits for real estate, construction, and hospitality companies.
He is a Certified Public Accountant in New York State, a Chartered Global Management Accountant, and a member of the American Institute of Certified Public Accountants (AICPA).
O’Leary holds a Bachelor of Science in Accounting from the State University of New York at Albany and an MBA from Columbia Business School.
Tritec, meanwhile, has been making news and financial deals with projects in recent months that impact and stretch beyond Long Island.
The company recently said it and the Olayan Group secured $166.21 million in refinancing from Greystone to support the next phase of the Station Yards Ronkonkoma mixed-use development.
“The refinancing reflects the strength of the asset and the continued demand for high-quality housing within thoughtfully designed, transit-oriented communities,” Tritec Executive Vice President and Partner Jimmy Coughlan said.
Tritec Real Estate also secured a $140 million refinancing loan for Shoregate, its new 418-unit multifamily community on a 10-acre property formerly owned by Touro College in Bay Shore.
The financing was provided by Truist Financial, which previously led the $113 million construction loan with Santander Bank for the project.
Shoregate, another part of Tritec Real Estate’s transit-oriented development portfolio, includes 334 market-rate apartments, 84 affordable units, and 1,650 square feet of restaurant and retail space. Amenities include a pool with a patio area, a fitness center, outdoor barbecue stations, a rooftop deck, an indoor golf simulator, and pickleball courts.
In addition to Long Island projects, Tritec serves as construction manager for the 180,000-square-foot, 155-apartment Brightview Senior Living in Greenburgh, NY, with other locations in Port Jefferson Station and Sayville.
Construction on the Brightview project started in November 2024, and Tritec said they are happy to “bring our expertise from Station Yards, Brightview, Port Jefferson, Sayville, and other transformative developments to this exciting project.”
