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

Early life and education

Paul Milstein was born to a

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familyBusiness Insider Australia: "MILSTEIN: The Rise And Schism Of A Powerful New York Family" by Carrie Hojnicki
Businessinsider.com.au, June 15, 2012 in

Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...

and raised in the

Bronx The Bronx ( ) is the northernmost of the five Boroughs of New York City, boroughs of New York City, coextensive with Bronx County, in the U.S. state of New York (state), New York. It shares a land border with Westchester County, New York, West ...

. "Paul Milstein, City Real Estate Titan, Dies at 88" By DOUGLAS MARTIN
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'', August 9, 2010 In 1919, his father Morris Milstein, an immigrant from

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, Ukraine (in what was then the Russian Empire), started out as a floor scraper, founded the Circle Floor Company, Inc., a wood flooring company, and later, the Mastic Tile Company, a vinyl flooring company."Seymour Milstein, City Real Estate Magnate, Dies at 81" by TERRY PRISTIN
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'', October 3, 2001 Milstein attended DeWitt Clinton High School"Milstein Opens Throttle as Builder"
''

'', October 18, 1981 and

New York University New York University (NYU) is a private university, private research university in New York City, New York, United States. Chartered in 1831 by the New York State Legislature, NYU was founded in 1832 by Albert Gallatin as a Nondenominational ...

for two years before joining the U.S. Army during World War II where he served in the Army Signal Corps in Missouri. After the war, he returned to the family business eventually become president of the wood flooring side of the company while his brother Seymour Milstein served as president of the vinyl flooring side of the business. Circle Floor expanded into floor tiles, acoustical ceilings, and drywall construction and won contracts to install flooring in several New York landmarks including Rockefeller Center, the United Nations Building, and both John F Kennedy Airport and LaGuardia Airport. Their company was acquired by Kinney Services Corporation in 1964, with the Milsteins remaining as managers of the unit until 1971 Milstein's sister Gloria Milstein Flanzer (May 23, 1927-March 9, 2015) created her own family fortune. Columbia University’s Vagelos College of Physicians and Surgeons announced today that its Division of Cardiology has received a $32.5 million gift from the Louis and Gloria Flanzer Philanthropic Trust of Sarasota, Florida. The gift will fund an endowment that will support the division’s programs in patient care, research, and education

Career

Milstein launched the family's first real estate development projects in the 1950s in partnership with his brother Seymour. Their companies, Milstein Brothers (MB) Real Estate and Milford Management, managed the organization's residential and commercial space. Paul and his sons, Howard Milstein, Howard and Edward, invested in large-scale building projects. In 1978, Milstein acquired New York City's Biltmore Hotel, which opened in 1913 following the construction of Grand Central Terminal. The building was converted to office space and reopened as the Bank of America Plaza in 1984. Beginning in 2019, Milstein's grandson, Michael, led another major renovation and modernization of the building, which was renamed 22 Vanderbilt in 2022. In 1989, the Milstein family acquired Douglas Elliman-Gibbons & Ives residential real estate brokerage. In 1986, the Milsteins acquired the Emigrant Savings Bank, which became the largest privately owned bank in the country. In 2004, the Milsteins founded the New York Private Bank & Trust which targets high wealth families.

Philanthropy

Paul Milstein and his wife Irma established the

Personal life

Paul Milstein was married to Irma Cameron for 63 years. They had four children, Roslyn Milstein Meyer, Howard Milstein, Howard, Barbara, and Edward."Times Sq. Sale Is Latest Chapter in Milstein Feud" By CHARLES V. BAGLI
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'', April 19, 2001 Paul Milstein died on August 9, 2010, in

, New York, USA and is buried at the Westchester Cemetery.

References

{{DEFAULTSORT:Milstein, Paul 1922 births 2010 deaths 20th-century American businesspeople 20th-century American philanthropists 21st-century American Jews American bankers American billionaires American construction businesspeople American people of Ukrainian-Jewish descent American businesspeople in real estate Businesspeople from New York City Cornell University people New York University alumni DeWitt Clinton High School alumni Philanthropists from New York (state) United States Army soldiers United States Army Signal Corps personnel