1.3 C
New York

Albert Reichmann, Patriarch of a Real Estate Empire, Dies at 93

Published:

Albert Reichmann was born in Vienna on Jan. 18, 1929. His father, Samuel, born in Hungary, was an exporter of eggs who moved to Austria in 1928. His mother was Renée (Gestetner) Reichmann.

After the Anschluss, the annexation of Austria by Germany, Samuel transferred his bank accounts to London and converted his assets into gold, which he used to finance the family’s escape.

The Reichmanns moved to Paris after which to Tangier, where Samuel became a currency trader. His wife led the family in packaging and forwarding food and other necessities to concentration camp inmates via the Spanish Red Cross. The family’s home in Tangier became a sanctuary for refugees.

Albert was mostly home-schooled, his grandson Robert said.

He married Egosah Feldman, an immigrant from Romania who taught school, in Israel within the mid-Nineteen Fifties. The couple moved to Toronto in 1959. She died this 12 months.

Along with his grandson Robert, Mr. Reichmann is survived by 4 children, Philip and David Reichmann and Bernice Koenig and Libby Gross; many other grandchildren and great-grandchildren; and his youngest brother, Ralph, his only surviving sibling.

By the point Albert arrived in Toronto, two of his brothers, Edward and Louis, had established Olympia Floor & Wall Tile in Montreal, and his brother Ralph was in command of the tile company’s Toronto affiliate. His brother Paul was running a property-development affiliate in Toronto.

With about $40,000 from his father, Albert formed York Factory Developments, to construct warehouses. In 1964, at their father’s urging, the brothers merged the businesses into Olympia & York Industrial Development. A worldwide real estate behemoth was born, one that may make the Reichmanns considered one of the world’s wealthiest and most philanthropic families.

sportinbits@gmail.com
sportinbits@gmail.comhttps://sportinbits.com
Get the latest Sports Updates (Soccer, NBA, NFL, Hockey, Racing, etc.) and Breaking News From the United States, United Kingdom, and all around the world.

Related articles

spot_img

Recent articles

spot_img