Paul Milstein & family’s profile picture

Paul Milstein & family

Paul Milstein & family’s profile picture
Net worth 2018: $3.8 Billion
Industry: Real Estate
Country: United States
BirthDay: 12 May 1922
Sigh: Gemini
Died On: 09/08/2010
Children: 4
Education: Drop Out, New York U
BIOGRAPHY

Paul Milstein & family was bornon 12 May 1922 in United States. New York City magnate reeling as the 2 pillars of his fortune--property and banking--falter; lost $700 million in 12 months as real estate market crumbled, bank valuations fell. Father, Morris, founded Circle Co. 1919; laid hardwood floors and carpeting for Madison Square Garden, Rockefeller Center. Paul took over Circle; brother Seymour (d. 2001) ran a tile manufacturer. Sold Circle 1968, built New York real estate empire. Succession issues threatened to split business; two sides agreed to settlement 2003. Today Milstein Properties owns apartment towers and offices throughout Manhattan. Acquired New York City's oldest savings bank, Emigrant, for $90 million 1986; today assets exceed $14 billion. Son Howard oversees operation.

NET WORTH STATISTIC
2010

$3.8 Billion

2018

$3.8 Billion

TIMELINE
2011

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

2010

They had four children:Milstein died on August 9, 2010 in Manhattan

2009

Ground was broken in 2009 for the 47,000-square-foot (4,400 m) building designed by Rem Koolhaas and the Office for Metropolitan Architecture

2004

In 2004, the Milsteins founded the New York Private Bank & Trust which targets high wealth families

2001

Established in 2001, the Milstein Center merges real estate education at Columbia Business School with a focus on capital markets, entrepreneurship and global business

1994

Paul Milstein and his wife Irma established The Paul and Irma Milstein Foundation in 1994 to lead much of their philanthropic work

1989

In 1989, the Milstein family acquired Douglas Elliman-Gibbons & Ives residential real estate brokerage

1988

In addition to the Milstein Hospital Building (1988), they funded the Milstein Institute for Surgical Science and the Milstein Laboratories (1992–1993) to conduct research in Alzheimer's Disease, diabetes and cancer

1986

In 1986, the Milsteins acquired the Emigrant Savings Bank, which they built into the largest privately owned bank in the country

1970

Starting in the 1970s, the Milsteins provided capital to support medical research

1950

Milstein launched the family's first real estate development projects in the 1950s in partnership with his brother Seymour

1922

Paul Milstein (May 12, 1922 – August 9, 2010) was an American real estate developer and philanthropist

1919

In 1919, his father Morris Milstein, an immigrant from Russia and who started out as a floor scraper, founded the Circle Floor Company, Inc

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