Starrett Corporation facts for kids

Starrett Corporation is a famous company that builds large buildings. It was once known as Starrett Brothers, Inc. and Starrett Brothers and Eken. This company built many well-known places in New York City. Some of these include the amazing Empire State Building, Stuyvesant Town, Starrett City, and Trump Tower.

Building a Legacy: Starrett's History

Early Days and Big Projects

Starrett Corporation started in 1922. It officially became a company in February 1929 in Dover, Delaware. The company's first leaders were Alfred G. Mueller, Alfred W. Boser, and Atlee W. Estarbrook. They were all from New York City.

Starrett Corporation bought Starrett Brothers, which was another building company. This made Starrett Corporation a big player in building and funding projects across the United States. Paul Starrett became the head of the company's board. William A. Starrett was the president and a director.

New Leadership and Focus

In 1963, Robert Olnick became the new president. He changed the company's main goal. Starrett started focusing on building homes for people with low and middle incomes. These projects were often funded by the government.

Later, in 1970, Henry Benach bought a large part of the company. He became the president and changed the name to Starrett Housing Corporation.

Growing Through Acquisitions

Starrett continued to grow by buying other companies. In 1977, Starrett bought H.R.H. Construction. This company was founded by Saul Horowitz in 1925. H.R.H. Construction then became a part of Starrett.

In 1978, Starrett also bought Levitt Corporation. This company was started by Abraham Levitt in 1938. Levitt Corporation was known for building many homes quickly after World War II. In 1995, the company's name changed back to Starrett Corporation.

Changes in Ownership

In 1997, there were attempts to buy Starrett Corporation. Jacob Frydman tried to purchase the company. He made a deal with brothers Paul Milstein and Seymour Milstein, who owned a lot of Starrett's shares. Henry Benach, the president, also owned many shares.

However, in October 1997, Paul Milstein announced that the company was being sold to other groups. These groups included Lawrence Ruben Co., Blackacre Capital Group, Amroc Investments, and Argent Ventures. After this sale, Joel Simon became the new chief executive officer of Starrett.

Starrett's Other Companies: Subsidiaries

A subsidiary is a company that is owned or controlled by another larger company. Starrett Corporation had several important subsidiaries.

Building in Chicago

One subsidiary was the Starrett Building Company of Chicago, Illinois. In 1929, this company helped build the National Parking Garage in Chicago. They were responsible for putting up the strong steel girders.

Investing and Real Estate

Other subsidiaries included the Starrett Investing Corporation. There was also the Wall and Hanover Streets Realty Company. This company owned a tall, thirty-five-story building. It was called the Wall and Hanover Building and was located at 59-63 Wall Street in Manhattan.

Homes for Families

The Levitt Corporation was another important subsidiary. This company was famous for building many homes, often called tract housing, after World War II. More recently, Levitt Corporation has continued to build successful homes in places like Puerto Rico and Florida.

See also

In Spanish: Starrett Brothers & Eken para niños