At least somebody is making some money out there.
Top Boston Properties execs raked in some big dough last year.
Edward Linde, chief executive and co-founder of the Hub-based real estate investment trust, took home $8.9 million last year, a 42 percent jump from 2007.
Linde’s pay came primarily from stock awards, with his salary growing just 4 percent, to $950,000. His cash bonus actually dropped 6 percent, though to a none too shabby $1.9 million.
Meanwhile, media mogul and Boston Properties chairman Mortimer Zuckerman did even better, cashing in $18.7 million in stock options. That’s not including salary and bonus of $3.15 million and nearly $128,000 for a car and driver.
While it’s fashionable to take shots at executive pay, these guys have weathered more than a few market storms before and always seem to come out on top.
Even as other developers battle to keep their projects alive, Boston Properties appears to be sitting in the driver’s seat once again, with an anchor tenant – Wellington Management – locked in for its planned Russia Wharf tower.