Marvin Kratter

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Marvin Kratter
Born November 9, 1915
Brooklyn, New York
Died October 24, 1999(1999-10-24) (aged 83)
Encinitas, California
Nationality United States
Ethnicity Jewish
Education B.A. Brooklyn College
J.D. Brooklyn Law School
Spouse(s) Lillian Rosenbloom
Children Leslie Kratter
David E. Kratter
Sherry Santa Cruz

Marvin Kratter (born November 9, 1915 in Brooklyn, died October 24, 1999 in Encinitas, California) was a New York-based real estate investor who was the head of the Kratter Corporation, National Equities, Countrywide Realty, Knickerbocker Brewery, Rom-American Pharmaceuticals, and the Boston Celtics.[1]

Biography[edit]

Born to a Jewish family,[2] Kratter graduated from Brooklyn College and Brooklyn Law School (1939),[3] Kratter started his career as a Certified Public Accountant in New York City. He moved to Tucson, Arizona in the 1930s and he started a dude ranch, Rancho del Rio Estates, in 1945. Kratter's ranch went bankrupt in 1949 and he moved back to New York City, where he became one of the first to practice real estate syndication.[1]

In 1956, Kratter bought Ebbets Field from Brooklyn Dodgers owner Walter O'Malley. He leased Ebbets Field back to O'Malley until the team left for Los Angeles after the 1957 season.[1] After purchasing the air rights to the Trans-Manhattan Expressway entrance to the George Washington Bridge on the Manhattan side, Kratter built the Bridge Apartments in 1961. The project consisted of four 32-story buildings built over the expressway and were some of the first aluminum-sheathed high-rise structures built in the world.[1] In 1960, Kratter demolished Ebbets Field and in 1962, built the 1,327-apartment Ebbets Field Apartments under the Mitchell-Lama program which gave developers tax breaks and low-interest mortgages to build middle-class housing.[1] Kratter also developed the St. Tropez, one of the first condominium apartment buildings in the city and owned the St. Regis Hotel and the Knickerbocker Brewery.[1] From 1965 to 1968 Kratter was the owner of the Boston Celtics.[1]

Personal life[edit]

He was married to Lillian Rosenbloom.[4] In 1977, Kratter released a solo album "What I Did for Love" under the name Mark Matthews.[1] They had three children: two sons, Leslie Kratter and David E. Kratter; and a daughter, Sherry Santa Cruz.[1]

References[edit]

  1. ^ a b c d e f g h i Nick Ravo (December 9, 1999). "Marvin Kratter, 84; Once Owned Ebbets Field". The New York Times. Retrieved 2010-03-14. 
  2. ^ Jewish Telegraph Agency: "Marvin Kratter Named Chairman of 1962 Joint Defense Appeal Campaign" March 30, 1962
  3. ^ Nagle, James J. (August 25, 1963). "Personality: Real Estate Man Now Brewer; Company Head Also Likes Devices That Save Labor Marvin Kratter Has a Fondness for Unusual Deals Move Opposed Likes Folk Dancing Lights Donated". The New York Times. 
  4. ^ New York Times: "ROSENBLUM—Eva" APRIL 5, 1964 | "The Officers, Directors and Employes of The Kratter Corporation extend their heartfelt sympathy to Mrs. Lillian Kratter, wife of our esteemed President and Chairman of the Board, Marvin Kratter, on the loss of her mother, Mrs. Eva Rcsenblum. THE KRATTER CORPORATION."
Preceded by
Lou Pieri and Marjorie Brown
Boston Celtics principal owner
1965–1968
Succeeded by
Ballantine Brewery