The Milstein family is led by Howard and Edward, the third generation of one of New York’s leading real estate families.
The Milstein Family exemplifies entrepreneurial stewardship passing from generation to generation. Starting with nothing but his two hands, Morris Milstein founded the Circle Floor Company in 1919. By 1960, Morris’s son, Paul Milstein, had led Circle Floor to success in the New York market, installing floors, walls and ceilings in many of New York’s best known landmarks including Rockefeller Center, the former World Trade Center and the new Madison Square Garden.
Paul Milstein launched the family’s first real estate development project in the 1950s. The Milstein vision was to invest in large scale developments that would serve to anchor and revive ailing neighborhoods. Paul, with his sons, Howard and Edward, developed a keen vision for identifying neighborhoods where they saw extraordinary potential long before most others. Today, the Milstein family owns both residential and commercial properties around the world.
In the 1980s, Howard Milstein further diversified the family’s real estate portfolio and international business holdings into banking. The initiative culminated in 1986 with the purchase of Emigrant Savings Bank. Emigrant, a retail thrift bank founded in 1850 by the Irish Emigrant Society was once the largest savings bank in the nation and is now one of the largest privately held banks in America. Building upon these roots, the Milstein family created New York Private Bank & Trust to serve the needs of other similarly successful families.