Meet Fred Manocherian

Fraydun Manocherian millionaire real estate developer and founder of the New York Health & Racquet Club, mutters that he doesn't really want publicity, doesn't want to be like Donald Trump.

Perhaps this savvy businessman with an eye for real estate value believes his past policy of remaining almost invisible in the high-profile world of Manhattan real estate is the best course.

Perhaps this humanitarian distrusts advice that his rapidly expanding empire of health clubs could benefit from press coverage.

Or perhaps this explosive personality knows that publicity might focus on some of the more troublesome aspects of his dynasty: a lawsuit charging that his clubs discriminate; construction snafus afflicting his latest and most ambitious health club; recent run-ins with the city's departments of buildings and consumer affairs, and stories of his mercurial treatment of employees.

But while the Manocherian name is unlikely to ever become as celebrated as Mr. Trump's, perhaps it isn't so out of line for Mr. Manocherian to be mentioned in such weighty company.

Out of the limelight

"Fred is a lot more substantial than anyone knows," says Barry Gosin, an executive vice president at Newmark & Co. Real Estate, which once managed Mr. Manocherian's commercial property. "But he's not in the glamorous side of the business."

For while Donald Trump changed forever the meaning of luxury condo in New York, Mr. Manocherian's five Manhattan clubs created a new setting for singles to sweat, strain and socialize.

Yet there are similarities. Mr. Trump's empire was based on his father's residential real estate work in Queens. Mr. Manocherian built his health clubs on the real estate business he and his brothers, Amir and Eskander, created by building, buying and rehabilitating apartments, especially in Yorkville.

Today Mr. Manocherian and his family own or manage 3,000 Manhattan apartments. It was a problem with these rentals that led Mr. Manocherian, a member of the Bahai faith who emigrated from Iran in 1946, into the health club business in 1973.

"We had a lot of vacancies at that time at York Avenue and 76th Street," he explains, ensconced in a lush office with antiques and an Oriental rug at 475 Park Ave. South. "We thought it would give us a competitive edge to offer health facilities."

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