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Transforming Neighborhoods An Interview with Howard P. Milstein, Chairman, President, and Chief Executive Offi cer, New York Private Bank & Trust, and Chairman, Milstein Properties EDITORS’ NOTE Howard Milstein It was my father, Paul Milstein, who as a house of learning for the generations of stu- leads the third generation of his leg- moved into real estate development. A dents to come. Its beauty will inspire them to work endary business and philanthropic hallmark of my father’s work – and now hard to fulfi ll their dreams. The building itself is an family. He chairs and operates the my work – has been having the vision embodiment of perseverance in solving locational, Milstein family’s real estate compa- and ability to transform entire neighbor- logistical, and spatial problems, and will challenge nies including Milstein Properties, hoods with large-scale development. these students to be the best architects they can be. Milford Management, and Milstein With Dorchester Towers, 1 Lincoln My family is proud to have played such a role in Brothers Real Estate Partners. In the Plaza, and 30 Lincoln Plaza, we built the the development of this award-winning building, philanthropic arena, he is Chairman fi rst luxury apartment buildings after the which was also recently LEED Gold Certifi ed by the of the New York Blood Center and the Second World War in the Lincoln Center U.S. Green Building Council. American Skin Association. He is a area. These served as an anchor for What is your view on the role of the trustee at Cornell University and growth and revitalization on the Upper private sector in addressing societal needs an overseer of Weill Cornell Medical Howard P. Milstein West Side in the 50 years since. So, too, and what has made this work such an inte- College. He serves on the Dean’s in places as diverse as Starrett City in gral part of your life? Advisory Board of Harvard Law School and on the Brooklyn, the New York theatre district, the Upper As someone who has operated both inside board of the National September 11 Memorial & East Side, and Battery Park City, we saw potential and outside formal government, I can tell you em- Museum. Milstein has received numerous awards, where few others did. In Battery Park City, we phatically, you do not need to be in an offi cial pub- including the 2008 Entrepreneur of the Year award built the fi rst luxury residential buildings at a time lic role to contribute to the life of our city, our state, from Cornell. He is a 1973 summa cum laude grad- when much of the area was little more than a bar- and our nation. My work with the New York City uate of Cornell and earned both his Law degree and ren landfi ll. Liberty Luxe and Liberty Green, our Fire Department or my role as a board member M.B.A. from Harvard University. In 2011, Milstein fi fth and sixth buildings there, are state-of-the-art of the September 11th Memorial and Museum, for was nominated by Governor Andrew Cuomo and luxury properties that provide a fi tting coda to example, has shown me many examples where unanimously confi rmed by the New York State Battery Park City’s development as a world-class business involvement in charitable causes, in Senate as the Chairman of the New York State New York City neighborhood. nonprofi ts, and as supporters of civic enterprise Thruway Authority and is currently leading the ef- Your new buildings utilize the latest in can have an enormous impact on our community fort to rebuild the Tappan Zee Bridge. In September green building techniques and cutting-edge and our nation. It is through giving by those in the 2012, Howard Milstein and his wife Abby donated technology to create luxury space that en- private sector that we truly impact our civic future. $8 milllion to the New York Public Library, enabling hances the residential landscape of lower How critical is the public/private part- the new central library plan to move forward. Manhattan. Would you provide an overview nership to the future of New York City? of your leadership in this regard? Effective public/private partnership is key to COMPANY BRIEF In the 1980s, Howard P. Milstein I believe that environmental excellence ensuring New York remains a great place to live, led the diversifi cation of the family’s real estate needs to be paired with architectural and func- to work, and to raise a family. The private sector holdings and international business interests in- tional excellence. We have done amazing things plays a major role in creating economic develop- cluding the acquisition of Emigrant Savings Bank, with Liberty Luxe and Liberty Green, which to- ment for New York City and New York State. As which was founded in 1850. Emigrant Bank gether are among the largest LEED Gold Certifi ed we continue to face an uncertain economic en- is the largest, family owned and run bank in the residential developments in the nation. These vironment, the private sector involvement needs country. Emigrant’s parent, New York Private newest Milstein buildings incorporate the high- to increase. Business leaders have a responsibility Bank & Trust (www.nypbt.com), offers fully in- est quality energy conservation and eco-friendly to play a role in their communities in which they tegrated investment advisory, trust, lending, and building materials, along with low-energy heat- operate, and it is clear that Mayor Bloomberg’s other banking and family offi ce services to serve ing, cooling, and lighting. private sector experience and success has been the needs of wealthy individuals and families. Milstein Hall at Cornell University’s extremely valuable to ensuring the fi nancial future College of Architecture, Art, and Planning of the city. Applying the lessons of business to the Your family has a long and deep com- created an award-winning, compelling new public sector is a solid route to success. mitment to New York City and has revital- space for future architects and developers. With all of the impact your family has ized many parts of Manhattan. Would you How would you describe the role of archi- had on New York City, do you ever take the highlight the storied history of the Milstein tecture and design in people’s lives? time to appreciate all you’ve accomplished? family? Winston Churchill said, “We shape our build- I tend not to think about what has been My grandfather, Morris Milstein, came to this ings; thereafter, they shape us.” The physical en- accomplished, but rather look to the opportuni- country from Europe in the early 20th century. The vironment in which we live and work has an ties and challenges that lie ahead. My family has business he founded became the Circle Flooring enormous impact on our lives and how we live been quite fortunate over the years, and in all of Company, which provided fl ooring for Rockefeller them. Paul Milstein Hall at Cornell’s College of our business, philanthropic, and civic endeavors, Center, the United Nations campus, LaGuardia and Architecture, Art, and Planning opened to students we’ve looked to give back to New York and our Kennedy airports, Lincoln Center, the World Trade in 2011. My association with Cornell real estate nation in a manner that helps lay the foundation Center, and Madison Square Garden. goes back 30 years and I think of the new building for future generations.• 40 LEADERS POSTED WITH PERMISSION. COPYRIGHT © 2012 LEADERS MAGAZINE, INC. VOLUME 35, NUMBER 4.
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