Paul Milstein

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. Paul 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 from Battery Park City to the Upper East Side, offices in Midtown, several undeveloped lots across Manhattan. Acquired New York City's oldest savings bank, Emigrant, for $90 million 1986. Bank assets exceed $14 billion. Son Howard now oversees entire operation. Paul Milstein was born in New York City in 1923. He attended DeWitt Clinton High School and New York University's School of Architecture. His family story is an American success story. His father, Morris, started with nothing but the labor of his hands. In 1919 he founded Circle Floor Co. Inc., a wood floor contracting business. After World War II, the business expanded into floor tile, acoustical ceilings and drywall construction. Paul Milstein became president in 1961. Under his leadership, Circle Floor installed the floors in such landmarks as Rockefeller Center, the United Nations complex, LaGuardia and Kennedy airports, the World Trade Center, Lincoln Center and the new Madison Square Garden. From there, the company made a logical leap into real estate development, where Paul Milstein earned his reputation as a master builder. Having always had an eye for architecture, Paul Milstein brought his vision to Milstein Properties, where he serves as president. He has served as chairman of the board of Starrett Corp. and is co-chairman of Emigrant Savings Bank and a prominent philanthropist. Along with his brother, Seymour, he built the Milstein Hospital Building of Columbia Presbyterian Hospital -- a teaching hospital now linked with Weill Cornell Medical College. Paul Milstein serves on the hospital board and is chair of its real estate and construction committees. He has served as trustee of Bronx-Lebanon Hospital and the Bronx-Riverdale YMHA-YWHA. He has also been deeply involved in the educational life of New York. In addition to Cornell, beneficiaries of Milstein family gifts include the New York Public Library, the American Museum of Natural History and Columbia University. Paul and Irma Milstein have had an interest in Cornell ever since three of their children enrolled as undergraduates. Howard is a member of the Class of '73; Barbara Zalaznick and her husband, David, are members of the Class of '76; and Roslyn Meyer entered as a member of the Class of '71 but graduated from Yale University.