Harry Helmsley facts for kids
Quick facts for kids
Harry Brakmann Helmsley
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| Born | March 4, 1909 New York City, U.S.
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| Died | January 4, 1997 (aged 87) Scottsdale, Arizona, U.S.
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| Occupation | Real estate developer |
| Spouse(s) | Eve Ella Sherpick Green (divorced) Leona Rosenthal Roberts
(m. 1972) |
Harry Brakmann Helmsley (born March 4, 1909 – died January 4, 1997) was a very successful American real estate developer. His company, Helmsley-Spear, became one of the largest property owners in the United States. They owned famous buildings like the Empire State Building and many important hotels in New York City. Later in his life, his second marriage to Leona Roberts led to some serious legal and financial problems for their business.
Starting His Career
Harry Helmsley was born in Manhattan and grew up in The Bronx, New York. His father bought and sold large amounts of clothing and fabric. Harry went to Evander Childs High School but did not finish. His family could not afford for him to go to college.
However, his grandfather helped him get a job as an office boy at a real estate company. Harry quickly showed a great talent for the business. He became a partner in the company. In 1938, he bought the company and changed its name to Dwight, Voorhis & Helmsley. At the start of his career, he bought many smaller buildings in different parts of New York City. These investments were very successful and earned him a lot of money.
Famous Buildings and Companies
In 1954, Harry Helmsley bought the Lincoln Building. This was a large office skyscraper on Forty-second Street. One year later, he bought a company that managed real estate, owned by Leon Spear. The company then became known as Helmsley-Spear.
In 1961, Harry bought the Empire State Building. At that time, it was the tallest building in the world! People warned him that it would cost too much to keep up, but he bought it anyway.
Other well-known New York office buildings Harry owned included the Helmsley Building, the Graybar Building, the Flatiron Building, and the Toy Center. He also invested in large apartment buildings like Park West Village and Tudor City. He even owned industrial buildings like the Starrett–Lehigh Building.
During the 1970s and 1980s, Harry Helmsley started investing in hotels. He owned the Helmsley Windsor Hotel, the Park Lane Hotel, and the Helmsley Palace. He built the Helmsley Palace behind the historic Villard Houses.
Besides Helmsley-Spear, he also owned Brown Harris Stevens, Inc. This company helped people buy and sell homes, especially expensive ones. It also managed many apartment buildings. When Harry sold the business in 1995, it managed 128 buildings.
Harry Helmsley became known as a very powerful person in the city's real estate world. He was successful because he was good at selling, trusted others to help him, and bought properties smartly. He would sometimes use loans with fixed payments when times were tough. Other times, he would pay cash when borrowing money was cheap. This smart way of buying properties later became a common practice in real estate.
Marriage to Leona
In 1938, Harry married Eve Ella Sherpick Green. In 1971, they divorced. The next year, he married Leona Roberts. She was a vice-president at one of his companies. Leona was a strong manager, but she was also known for being demanding. She liked a very fancy lifestyle, which was different from Harry's simpler private life.
They lived in a penthouse in the Helmsley-owned Park Lane Hotel. They started building and running hotels on a much larger scale. They expanded beyond New York City to many other big cities. Their hotels included The Helmsley Middletowne Hotel, the New York Helmsley Hotel, The Helmsley Windsor Hotel, and the Harley Hotel chain. In 1980, Harry received a special award for his great contributions to New York City.
His most prized hotel was New York's 50-story Helmsley Palace Hotel. It opened in 1980 and quickly became known as the city's most elegant place. However, this hotel also brought financial and legal problems. Leona's grand plans and frequent changes made the building's cost go very high. They also faced serious legal challenges related to their business records. Harry was too unwell to participate in the legal process, but Leona faced penalties and spent time in prison.
Death
Harry Helmsley passed away from pneumonia at age 87 in a hospital in Scottsdale, Arizona. He left all of his large business empire, worth $5.5 billion, to his wife, Leona. His remains were first buried at Woodlawn Cemetery in the Bronx, New York. Later, they were moved to Sleepy Hollow Cemetery in Sleepy Hollow, New York.
See also
- The Leona M. and Harry B. Helmsley Charitable Trust
