Six years later, he started his real estate actions with buying land and selling the pet business, but holding to its property. Nowadays, the company holds more than 38 million square feet of residential, commercial property in New Jersey, New York and Chicago. Among others establishments, Stern also owns the Soho Grand Hotel and the TriBeca Grand Hotel. Inspired by his late father, he is an active philanthropist who founded Homes for the Homeless, which is one of the largest non-profit providers of education, residential and employment centers in the U.S.