Abby and Howard Milstein with the late John Zuccotti of Brookfield; his wife, Dr. Susan Zuccotti; and Brookfield Office Properties' Ric Clark.
The Milstein fortune was built from the floor up.
Morris Milstein, an immigrant from Russia, founded the Circle Floor Co. in 1919. The firm nabbed contracts for projects like Rockefeller Center, both New York City airports and Madison Square Garden. Morris’ sons, Paul and Seymour, expanded the family business into real estate.
The Milsteins are responsible for the development of roughly 50K SF of residential space and 8,000 hotel rooms, and own 20M SF of office space. The family fortune was buttressed in 1999 when, after a period of exponential growth, it sold residential brokerage Douglas Elliman. The Milsteins owned the firm for 10 years and helped oversee its expansion from the Upper East Side to all of New York.
The Milstein dynasty is now split between Milstein Properties, run by Paul’s descendants, and Odgen CAP Properties, presided over by Seymour’s children, Phillip and Connie. — Scott Klocksin