Only those who dare to fail greatly can ever achieve greatly.”
Robert F. Kennedy
Today…looking back into Real Estate History is about……. “Big Bill” Zeckendorf, (1905-1976) The Legendary Developer…the ultimate dealmaker.
Forty Five Years ago this month William Zeckendorf declared bankruptcy. But his legacy and what he built was just amazing…he was one of Real Estate’s Giants….” A Master Builder”…A Real Estate Developer like no other.
When Sam Zell, Melvin Simon, Gerald Hines and Jim Peters all major figures in Real Estate were asked…What was the most interesting deal of the Century? The answer was not a deal…but a man…William Zeckendorf.
This was a man of extraordinary ideas and vision…how he bought Real Estate, created ground leases and then separated the real estate interests….creating more value.
One of Zeckendorf’s biggest achievements was assembling some 75 parcels of land into a bundle in Manhattan that eventually became the site of the United Nations.
Here in Los Angeles he built Century City , he also developed an old airfield at Roosevelt Field on Long Island into one of the nations’ largest shopping centers.
Zeckendorf first exhibited his acumen with his astute management of John Jacob Astor’s $50 million portfolio…which after 4 years the value had increased by an additional $15 million.
The list of creative, gutsy and insightful deals was long and distinguished including the Chrysler Building and developing thousands of luxury and middle income apartments in New York, Washington D.C. and Chicago.
Yes…it was difficult in the end…but what he built lives on…and to achieve is to first dream…. The Great Developers dream of building great buildings and..as a developer from the East Coast to the West Coast…William Zeckendorf certainly left a legacy.
Keep Your Dream Alive & Go Make It Happen!
Enjoy Your Day!