Philip L. Milstein

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Philip L. Milstein
Born(1949-08-05)August 5, 1949
EducationColumbia College (BA)
New York University Stern School of Business (MBA)
OccupationReal estate developer, banker
Known forFormer chairman of Emigrant Savings Bank
Spouse(s)Cheryl S. Glicker
ChildrenMeredith Milstein
Joshua Milstein
Toby Milstein
Larry Milstein
Parent(s)Seymour Milstein
Vivian Leiner
FamilyConstance Milstein (sister)
Paul Milstein (uncle)
Howard Milstein (cousin)

Philip L. Milstein (born August 5, 1949) is an American real estate developer, banker, and philanthropist.

Early life and education[]

Milstein is the eldest son of billionaire real estate developer Seymour Milstein and Vivian Leiner.[1] He graduated with a B.A. from Columbia College in 1971 and received his MBA from New York University in 1974.[2][3]

Career[]

From 1987 to 2003, Milstein served in various capacities as the vice chairman, president and CEO, and co-chairman of Emigrant Savings Bank, owned by his family.[4] The extended Milstein family, however, was involved in a series of high-profile lawsuits over the division of their $5 billion fortune as well as succession issues that eventually tore the family apart.[5][6][7] In 2003, his family sold its stake of the bank to his uncle, Paul Milstein, and cousin, Howard Milstein. Joined by his sister, Connie Milstein, and his niece, Abigail Elbaum, he founded Ogden Cap Properties to manage their share of the family holdings that include several luxury apartment buildings in New York City, notably 1 Lincoln Plaza, as well as The Jefferson, a historic luxury hotel in Washington, D.C..[5][8][9] Milstein currently serves as a principal in the company.[10]

Philanthropy[]

Milstein is known for his philanthropic activities. He donated $20 million to fund the construction of the new Medical and Graduate Education Building at the Columbia University Vagelos College of Physicians and Surgeons, designed by Diller Scofidio + Renfro.[8] He and his wife also donated $25 million to Barnard College to fund The Cheryl and Philip Milstein Center for Teaching and Learning.[11] He also donated to help with the renovation of the Butler Library of Columbia University, which named the undergraduate library in his honor.[12][13] He served as a trustee of Columbia University as well as the chairman and president of 92nd Street Y.[14] He current serves as a vice chairman of the Lincoln Center and on the board of NewYork–Presbyterian Hospital.[15][16]

Personal life[]

He is married to Cheryl Sue Glicker, a graduate of Barnard College and Benjamin N. Cardozo School of Law, who currently serves as the chairwoman of the board of trustees of Barnard College.[17][18] The couple has four children, two of whom are described as activist philanthropists by The New York Times.[19][20] The Milstein family's net worth is estimated at $3.1 billion by Forbes magazine in 2015, listing them as the 90th richest family in the United States.[9]

References[]

  1. ^ "Billionaire developer Paul Milstein dies - The Real Deal". The Real Deal New York. 2010-08-09. Retrieved 2020-05-24.
  2. ^ "NYU Stern Honors Philip L. Milstein, MBA '74, at the annual Haskins Giving Society Dinner - NYU Stern". www.stern.nyu.edu. Retrieved 2020-05-24.
  3. ^ "A Family Affair: 30 Years of Milstein Scholars". Columbia College. 22 May 2018. Retrieved May 24, 2020.
  4. ^ "Philip Milstein Elected Trustee of Columbia University. September 9, 1996". www.columbia.edu. Retrieved 2020-05-24.
  5. ^ a b "Milstein dynasty back in fray - The Real Deal". The Real Deal New York. Retrieved 2020-05-24.
  6. ^ Bagli, Charles V. (2003-04-16). "Wealthy Real Estate Family Settles Decade-Long Feud". The New York Times. ISSN 0362-4331. Retrieved 2020-05-24.
  7. ^ "Battle of Milsteins: Old Brothers Clash, As Do Grown-Up Boys". Observer. 2000-05-29. Retrieved 2020-05-24.
  8. ^ a b "Philip & Cheryl Milstein Donate $20M for Medical and Graduate Education Bldg". Columbia University Irving Medical Center. 2013-03-18. Retrieved 2020-05-24.
  9. ^ a b "Milstein family". Forbes. Retrieved 2020-05-24.
  10. ^ "Philip L. Milstein". Trustees of Columbia University. Retrieved May 24, 2020.
  11. ^ "Barnard College Receives Largest Combined Gift in 126-Year History | Barnard College". barnard.edu. Retrieved 2020-05-24.
  12. ^ "Milstein Honored at Library". Columbia College Today. January 2003. Retrieved May 24, 2020.
  13. ^ "Milstein Undergraduate Library". Columbia Libraries. Retrieved May 24, 2020.
  14. ^ "All in the Families: Milsteins, Tisches Hand Down a Tradition of Giving". Observer. 2013-10-24. Retrieved 2020-05-24.
  15. ^ "Board of Directors | Lincoln Center for the Performing Arts". www.aboutlincolncenter.org. Retrieved 2020-05-24.
  16. ^ "Trustees at NewYork-Presbyterian". www.nyp.org. Retrieved 2020-05-24.
  17. ^ "Cheryl S. Glicker, Lawyer, Married". The New York Times. 1986-04-20. ISSN 0362-4331. Retrieved 2020-05-24.
  18. ^ "Cheryl Glicker Milstein, BC '82, elected chair of Barnard board of trustees". Columbia Daily Spectator. Retrieved 2020-05-24.
  19. ^ "Building Barnard". giving.barnard.edu. Retrieved 2020-05-24.
  20. ^ Widdicombe, Ben (2017-06-24). "Young Socialites Conjure the Ghost of Leonard Bernstein at the Dakota". The New York Times. ISSN 0362-4331. Retrieved 2020-05-24.
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