Paul Milstein
Encyclopedia
Paul Milstein was a real estate developer and philanthropist.
Born in New York City he attended DeWitt Clinton High School
and the New York University
School of Architecture. The family enterprises began with Morris Milstein, who emigrated to the United States from Russia and founded Circle Floor Company, Inc., a wood flooring company, in 1919. Circle Floor grew and, after World War II, expanded into floor tile, acoustical ceilings and drywall construction. By 1960, Morris’ son, Paul, led Circle Floor to dominate the New York market, installing floors - and later walls and ceilings - in many of New York's best known modern landmarks: Rockefeller Center, the United Nations campus, LaGuardia and Kennedy airports, Lincoln Center, the World Trade Center and the new Madison Square Garden.
Paul Milstein launched the family's first real estate development projects in the 1950s in partnership with his brother Seymour. During the past six decades, Milstein Properties and its affiliates have been one of New York City’s leading full-line developers of residential and commercial property. Through various family controlled entities, the Milstein family has built or bought multi-family residential properties with more than 50,000 apartments, 8,000 hotel rooms and 20000000 square feet (1,858,060.8 m²) of office space. Their companies, Milstein Brothers (MB) Real Estate and Milford Management, manage the organization’s residential and commercial space. The family made its mark in Manhattan as Paul Milstein saw and seized the potential in numerous transitional neighborhoods. Paul and his sons, Howard and Edward, invested in large-scale building projects that catalyzed growth, development and revival. These legendary projects include:
•The area that became Lincoln Center, with three important buildings: Dorchester Towers,One Lincoln Plaza, and 30 Lincoln Plaza
•East 96th Street with the Normandie Court Complex
•Battery Park with Liberty Court, Liberty House, Liberty Terrace and Liberty View
•Murray Hill with Windsor Court and Biltmore Plaza
•8th Avenue/Hell’s Kitchen with a 1300 room hotel that became the Milford Plaza
The Milstein family commercial portfolio in New York City today includes: 335 Madison Avenue, Seven Hanover Square and the corporate headquarters of Emigrant Savings Bank at 5 East 42nd Street and 6 East 43rd Street.
In 1989, the Milstein family acquired Douglas Elliman-Gibbons & Ives residential real estate brokerage. At the time of purchase Douglas Elliman had 10% of the New York City brokerage and managed 15,000 apartments. Howard Milstein
served as Chairman for ten years and built the brand into a juggernaut of residential real estate brokerage and management in New York City, commanding 40% of the brokerage market and managing 50,000 apartments.
New York Private Bank & Trust
In 1986, the Milsteins acquired the Emigrant Savings Bank
, which they built into the largest privately owned bank in the country. The Milstein family founded New York Private Bank & Trust in 2004 to serve the global needs of a financially sophisticated clientele of similarly successful families with investment advisory, trust and banking services.
Family Philanthropy
Paul Milstein and his wife Irma established The Paul and Irma Milstein Foundation in 1994 to lead much of their philanthropic work. Milstein Family generosity has made a difference at many New York institutions including: the Milstein Hospital Building at New York Presbyterian Medical Center; the Milstein Hall of Ocean Life and the Milstein Hall of Large Mammals at The American Museum of Natural History
; the Paul Milstein Pool and Terrace at Lincoln Center; and the Milstein Division of U.S. History, Local History, and Genealogy at the New York Public Library
.
Starting in the 1970s, the Milsteins provided capital to support medical research in interferon and, in addition to the Milstein Hospital Building (1988), funded the Milstein Institute for Surgical Science and the Milstein Laboratories (1992–1993) to conduct research in Alzheimer's Disease, diabetes and cancer. The Milstein family is also providing support to the National Cancer Institutes of the National Institutes of Health (NIH) and Rockefeller University, with the Milstein Medical Research Program.
Paul and Irma Milstein have given generously to the Jewish Theological Seminary and JASA (Jewish Association for Services for the Aged). They sponsored the Milstein Family Jewish Communal Archive Project for the YIVO Institute at the Center for Jewish History and established the Milstein sanctuary at Temple Israel in Westchester County. The Milstein family have been generous donors at Hadassah Medical Center
in Jerusalem, naming the Paul and Irma Milstein Heart Institute at the Sarah Wetsman Davidson Tower, which will be dedicated in 2011. In addition, the family have been generous supporters of United Jewish Appeal (UJA-Federation) and the American Jewish Committee (AJC).
Irma Milstein committed a major gift to Cornell University
and the Cornell University College of Architecture, Art, and Planning
for the construction of Paul Milstein Hall – the new home for the university’s undergraduate architecture program. Ground was broken in 2009 for the 47000 square feet (4,366.4 m²) building designed by Rem Koolhaas
and the Office for Metropolitan Architecture. Paul and Irma are parents and grandparents of several students and alumni at Cornell.
The Paul Milstein Center for Real Estate anchors Columbia Business School's top-ranking real estate MBA program. Established in 2001, the Milstein Center merges real estate education at Columbia Business School with a focus on capital markets, entrepreneurship and global business. The Milstein family has a long-standing commitment to education and youth. Irma Milstein has provided major support to Bank Street College of Education
, one of the premier teacher training institutions in the U.S.
Paul Milstein died on August 9, 2010. Paul and Irma Milstein have four children: Roslyn Milstein Meyer, Howard P. Milstein, Barbara Milstein Zalaznick, and Edward L. Milstein.
Born in New York City he attended DeWitt Clinton High School
DeWitt Clinton High School
DeWitt Clinton High School is an American high school located in the Bronx, New York City, New York.-History:Clinton opened in 1897 at 60 West 13th Street at the northern end of Greenwich Village under the name of Boys High School, although this Boys High School was not related to the one in Brooklyn...
and the New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
School of Architecture. The family enterprises began with Morris Milstein, who emigrated to the United States from Russia and founded Circle Floor Company, Inc., a wood flooring company, in 1919. Circle Floor grew and, after World War II, expanded into floor tile, acoustical ceilings and drywall construction. By 1960, Morris’ son, Paul, led Circle Floor to dominate the New York market, installing floors - and later walls and ceilings - in many of New York's best known modern landmarks: Rockefeller Center, the United Nations campus, LaGuardia and Kennedy airports, Lincoln Center, the World Trade Center and the new Madison Square Garden.
Paul Milstein launched the family's first real estate development projects in the 1950s in partnership with his brother Seymour. During the past six decades, Milstein Properties and its affiliates have been one of New York City’s leading full-line developers of residential and commercial property. Through various family controlled entities, the Milstein family has built or bought multi-family residential properties with more than 50,000 apartments, 8,000 hotel rooms and 20000000 square feet (1,858,060.8 m²) of office space. Their companies, Milstein Brothers (MB) Real Estate and Milford Management, manage the organization’s residential and commercial space. The family made its mark in Manhattan as Paul Milstein saw and seized the potential in numerous transitional neighborhoods. Paul and his sons, Howard and Edward, invested in large-scale building projects that catalyzed growth, development and revival. These legendary projects include:
•The area that became Lincoln Center, with three important buildings: Dorchester Towers,One Lincoln Plaza, and 30 Lincoln Plaza
•East 96th Street with the Normandie Court Complex
•Battery Park with Liberty Court, Liberty House, Liberty Terrace and Liberty View
•Murray Hill with Windsor Court and Biltmore Plaza
•8th Avenue/Hell’s Kitchen with a 1300 room hotel that became the Milford Plaza
The Milstein family commercial portfolio in New York City today includes: 335 Madison Avenue, Seven Hanover Square and the corporate headquarters of Emigrant Savings Bank at 5 East 42nd Street and 6 East 43rd Street.
In 1989, the Milstein family acquired Douglas Elliman-Gibbons & Ives residential real estate brokerage. At the time of purchase Douglas Elliman had 10% of the New York City brokerage and managed 15,000 apartments. Howard Milstein
Howard Milstein
Howard Philip Milstein represents the third generation of one of New York's leading real estate, financial and philanthropic families. His entrepreneurial ventures include real estate, banking, hotels, marketing, and finance. Milstein is Chairman, President and Chief Executive Officer of New York...
served as Chairman for ten years and built the brand into a juggernaut of residential real estate brokerage and management in New York City, commanding 40% of the brokerage market and managing 50,000 apartments.
New York Private Bank & Trust
In 1986, the Milsteins acquired the Emigrant Savings Bank
Emigrant Savings Bank
Emigrant Savings Bank is the oldest savings bank in New York City and the largest privately owned bank in the country. , Emigrant has 35 branches located in the New York metro area and has assets of $14.3 billion...
, which they built into the largest privately owned bank in the country. The Milstein family founded New York Private Bank & Trust in 2004 to serve the global needs of a financially sophisticated clientele of similarly successful families with investment advisory, trust and banking services.
Family Philanthropy
Paul Milstein and his wife Irma established The Paul and Irma Milstein Foundation in 1994 to lead much of their philanthropic work. Milstein Family generosity has made a difference at many New York institutions including: the Milstein Hospital Building at New York Presbyterian Medical Center; the Milstein Hall of Ocean Life and the Milstein Hall of Large Mammals at The American Museum of Natural History
American Museum of Natural History
The American Museum of Natural History , located on the Upper West Side of Manhattan in New York City, United States, is one of the largest and most celebrated museums in the world...
; the Paul Milstein Pool and Terrace at Lincoln Center; and the Milstein Division of U.S. History, Local History, and Genealogy at the New York Public Library
New York Public Library
The New York Public Library is the largest public library in North America and is one of the United States' most significant research libraries...
.
Starting in the 1970s, the Milsteins provided capital to support medical research in interferon and, in addition to the Milstein Hospital Building (1988), funded the Milstein Institute for Surgical Science and the Milstein Laboratories (1992–1993) to conduct research in Alzheimer's Disease, diabetes and cancer. The Milstein family is also providing support to the National Cancer Institutes of the National Institutes of Health (NIH) and Rockefeller University, with the Milstein Medical Research Program.
Paul and Irma Milstein have given generously to the Jewish Theological Seminary and JASA (Jewish Association for Services for the Aged). They sponsored the Milstein Family Jewish Communal Archive Project for the YIVO Institute at the Center for Jewish History and established the Milstein sanctuary at Temple Israel in Westchester County. The Milstein family have been generous donors at Hadassah Medical Center
Hadassah Medical Center
Hadassah Medical Center is a medical organization that operates two University hospitals at Ein Kerem and Mount Scopus in Jerusalem, Israel, as well as schools of medicine, dentistry, nursing, and pharmacology affiliated with the Hebrew University of Jerusalem.The hospital was founded by Hadassah,...
in Jerusalem, naming the Paul and Irma Milstein Heart Institute at the Sarah Wetsman Davidson Tower, which will be dedicated in 2011. In addition, the family have been generous supporters of United Jewish Appeal (UJA-Federation) and the American Jewish Committee (AJC).
Irma Milstein committed a major gift to Cornell University
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
and the Cornell University College of Architecture, Art, and Planning
Cornell University College of Architecture, Art, and Planning
The College of Architecture, Art, and Planning at Cornell University was established in 1871 as the School of Architecture with the hiring of Charles Babcock as the first Professor creating the first four-year course of study in architecture in the United States...
for the construction of Paul Milstein Hall – the new home for the university’s undergraduate architecture program. Ground was broken in 2009 for the 47000 square feet (4,366.4 m²) building designed by Rem Koolhaas
Rem Koolhaas
Remment Lucas Koolhaas is a Dutch architect, architectural theorist, urbanist and "Professor in Practice of Architecture and Urban Design" at the Graduate School of Design at Harvard University, USA. Koolhaas studied at the Netherlands Film and Television Academy in Amsterdam, at the Architectural...
and the Office for Metropolitan Architecture. Paul and Irma are parents and grandparents of several students and alumni at Cornell.
The Paul Milstein Center for Real Estate anchors Columbia Business School's top-ranking real estate MBA program. Established in 2001, the Milstein Center merges real estate education at Columbia Business School with a focus on capital markets, entrepreneurship and global business. The Milstein family has a long-standing commitment to education and youth. Irma Milstein has provided major support to Bank Street College of Education
Bank Street College of Education
Bank Street College of Education is located in Manhattan, New York City.-History:Bank Street was founded in 1916 by Lucy Sprague Mitchell as the "Bureau of Educational Experiments"....
, one of the premier teacher training institutions in the U.S.
Paul Milstein died on August 9, 2010. Paul and Irma Milstein have four children: Roslyn Milstein Meyer, Howard P. Milstein, Barbara Milstein Zalaznick, and Edward L. Milstein.