Lawrence Wien

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Lawrence A. Wien
Born Lawrence Arthur Wien
1905
New York City
Died 1988 (aged 82–83)
Westport, Connecticut
Residence Westport, Conn
Nationality United States
Ethnicity Jewish
Education B.A. Columbia College
J.D. Columbia Law School
Occupation attorney
real estate investor
Known for co-founder of Wien & Malkin
Spouse(s) Mae Levy (until her death)
Ruth Kupper
Children Enid W. Morse
Isabel W. Malkin

Lawrence A. Wien (1905 – 1988) was an American lawyer, philanthropist, and real estate investor.[1]

Biography[edit]

Wien was born to a Jewish family[2] in New York City. He had three siblings: Mortimer E Wien, Leonard Wien, and Ms. Bernard T. Hein.[1] In 1925, Wien graduated with a B.A. from Columbia College and in 1927, he graduated with a J.D. from Columbia Law School.[1] In 1928, he co-founded the law firm, Wien Malkin & Bettex[1] which became a leading national law firm specializing in real estate law. In 1931, he ventured into real estate and, along with three partners who invested $2,000 apiece, bought a small apartment house in Harlem.[1] In the 1930s, using his legal background, Wien pioneered the concept of real estate syndicates making direct ownership of income property accessible to groups of individual investors for the first time.[3] In 1958, his son in law Peter L. Malkin joined the firm as a partner (renamed Wein & Malkin LLP).[4] His syndicates purchased or controlled through long term ground leases many of New York City's most prominent landmarks including the Empire State Building (which he bought with partner Harry Helmsley in 1961 from Henry Crown),[5] the Equitable Building, the Graybar Building, the Fisk Bulding, the Garment Centre Capitol Building, the Fifth Avenue Building, the Lincoln Building as well as many prominent hotels including the Plaza Hotel, the Taft Hotel, Hotel St. Moritz, the Lexington Hotel, and the Hotel Governor Clinton.[1] He also participated in transactions in Newark, Palm Beach, Philadelphia, Los Angeles, Minneapolis, and Las Vegas.[1]

From 1933 to 1935, he was an official of the City Fusion Party and worked to elect Mayor Fiorello La Guardia.[1]

Wien & Malkin was renamed Malkin Holdings after the spinoff and IPO of Empire State Realty Trust (NYSEESRT), a publicly traded real estate investment trust.[6][7]

Philanthropy[edit]

Wein was a major benefactor of the arts and education. In 1956, he commissioned the statute of Associate Justice Louis Brandeis of the United States Supreme Court which sits on the campus of Brandeis University. In 1958, he donated $8.5 million to Brandeis University to endow the Wien International Scholarship which pays the tuition, room & board, and travel expenses for 15 foreign students per year. In 1959 he created a national scholarship at Columbia Law School; Wien contributed over $20 million during his life to his alma mater Colombia including $6 million for the replacement of Baker Field (now known as the Robert K. Kraft Field at Lawrence A. Wien Stadium). In 1969, he donated $1.2 million the Lincoln Center for the Performing Arts where he served as vice chairman and a trustee for 20 years.[1]

From 1960 to 1963, Wien served as president of the Federation of Jewish Philanthropies. From 1964 to 1970, he served as trustee of Columbia University and in 1981, was awarded its Alexander Hamilton Medal, the highest honor given to an alumnus. From 1957 to 1984, Wien served as trustee of Brandeis University.[1]

Personal life[edit]

Wien was married twice. In 1929, he married Mae Levy; she died in 1986. They had two daughters: Enid W. Morse and Isabel W. Malkin.[1] In 1987, he married Ruth Kupper.[1] In 1988, Wein did of prostate cancer at his home in Westport, Connecticut.[1] His granddaughter, Cynthia Allison Malkin, is married to Richard Blumenthal who was elected as United States Senator of Connecticut in 2011.[8]

Honorary degrees[edit]

  • Doctor of Laws: Columbia University, Brandeis University, Long Island University, Fairfield University, St. John's University
  • other honorary degrees: Canisius College and The Juilliard School

Named after Lawrence Wien[edit]

References[edit]

External links[edit]