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Skyscraper Dreams: The Great Real Estate Dynasties of New York Paperback – January 8, 2001
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Editorial Reviews
From Publishers Weekly
Shachtman, coauthor of The Gilded Leaf , contends that skyscraper mania--the compulsion to alter and claim part of the New York City skyline and increasingly costly square feet of property--animates successors to the Astors and Rockefellers, represented by descendants of immigrant builders (Urises, Tishmans, Zeckendorfs et al.). While such people may assuage their oversize ambitions with well-publicized contributions to civic causes, many demonstrate a near-total disregard for the city's structural and social health--and, charges the author, for its real housing needs especially. Though a plethora of character sketches and anecdotes swells the narrative, history buffs and concerned citizens--and scandal- and gossip-lovers--should relish the stories of these dynasties. Despite the present financial crisis, the author predicts, they and New York City will survive. Photos not seen by PW.
Copyright 1991 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
Copyright 1991 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
From Library Journal
The quintessential New York real estate deal took place in 1624 when the Dutch supposedly paid the Indians $24 in trinkets for the island of Manhattan. But what came afterward? In Shachtman's book, we are presented with the famous and infamous real estate tycoons of New York's past and present--from the Astors and the Rockefellers to Harry Helmsley and Donald Trump. Historical anecdotes abound and make for entertaining reading (William Zeckendorf is attributed with saying "I'd rather be alive at 18% than dead at the prime rate!"), but a lack of footnotes or a bibliography may give the serious researcher pause and readers outside of New York may find this a bit parochial. Appropriate for real estate collections and larger public libraries.
- Richard Drezen, Merrill Lynch Lib., New York
Copyright 1991 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
- Richard Drezen, Merrill Lynch Lib., New York
Copyright 1991 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
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2 of 2 people found the following review helpful
By
Kevin Kingston
on May 24, 2005
Format: Paperback
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Skyscraper Dreams
The book Skyscraper Dreams; The Great Real Estate Dynasties of New York by Tom Shachtman covers the dreams and despair of the visionary real estate moguls that built and traded the skyscrapers of New York like Monopoly properties in the board game.
The book visits most big name real estate operators starting with the nineteenth century's John Jacob Astor and the Roosevelts, Beekmans and Rockefellers to the Tishmans, Rudins and Roses who came to this country penniless. Then it moves into the flamboyant developer "Big Bill" Zeckendorph, who they say was the model for Donald Trump. Then there is the master of the real estate universe Harry Helmsley and the Kennedys, Tisches, LeFreks and many others dynasties that made and sometimes lost fortunes in the violent cycles of the New York real estate market.
The concept that hit me the hardest and stayed with me was how Harry Helmsley danced through the decades while building an empire, counting on inflation to make his fortune. He would scoop up properties in tough recessionary markets and count on a turn around that he knew would inevitably come to lift prices and build fortunes. While many of the empire builders in this group stretched and overextended by taking on more projects than could be carried during a slowdown, Harry was slow and steady, over the course of several decades, constantly accumulating income producing properties and running a tight ship, always chipping away at expenses. Many of the names above ran into financial squeezes, even bankruptcy during a real estate slump, often to reinvent themselves, and make remarkable comebacks.
The book gives you a refreshing insight into not only the actions of many real estate icons but the thoughts behind those actions.Read more ›
The book Skyscraper Dreams; The Great Real Estate Dynasties of New York by Tom Shachtman covers the dreams and despair of the visionary real estate moguls that built and traded the skyscrapers of New York like Monopoly properties in the board game.
The book visits most big name real estate operators starting with the nineteenth century's John Jacob Astor and the Roosevelts, Beekmans and Rockefellers to the Tishmans, Rudins and Roses who came to this country penniless. Then it moves into the flamboyant developer "Big Bill" Zeckendorph, who they say was the model for Donald Trump. Then there is the master of the real estate universe Harry Helmsley and the Kennedys, Tisches, LeFreks and many others dynasties that made and sometimes lost fortunes in the violent cycles of the New York real estate market.
The concept that hit me the hardest and stayed with me was how Harry Helmsley danced through the decades while building an empire, counting on inflation to make his fortune. He would scoop up properties in tough recessionary markets and count on a turn around that he knew would inevitably come to lift prices and build fortunes. While many of the empire builders in this group stretched and overextended by taking on more projects than could be carried during a slowdown, Harry was slow and steady, over the course of several decades, constantly accumulating income producing properties and running a tight ship, always chipping away at expenses. Many of the names above ran into financial squeezes, even bankruptcy during a real estate slump, often to reinvent themselves, and make remarkable comebacks.
The book gives you a refreshing insight into not only the actions of many real estate icons but the thoughts behind those actions.Read more ›
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By
Xavier Atlas
on November 14, 2013
Format: Paperback
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This is a great book, teaching about New York and the Real Estate industry, especially in three ways:
1) It clearly illustrates through the examples of several developers, how fortunes and empires were made, and sometimes lost. Real Estate, we know, is a cyclic industry, and thise who are caught highly leveraged in a downturn are most likely killed by it, sometimes literally.
2) If you are an architect or a construction fanatic, a history bluff or just love New York, you will learn about the history of New York's most famous office buildings, and their builders.
3) If you are a business student or simply like to read business books and biographies, you will find that this book also talks about how deals were done in New York; who, how and when financing was achieved by most developers.
Keep in mind that this book is dated, since it was written in 1991. However, the lessons and stories are a pleasure to read and most dealings techinques have no expiration date.
1) It clearly illustrates through the examples of several developers, how fortunes and empires were made, and sometimes lost. Real Estate, we know, is a cyclic industry, and thise who are caught highly leveraged in a downturn are most likely killed by it, sometimes literally.
2) If you are an architect or a construction fanatic, a history bluff or just love New York, you will learn about the history of New York's most famous office buildings, and their builders.
3) If you are a business student or simply like to read business books and biographies, you will find that this book also talks about how deals were done in New York; who, how and when financing was achieved by most developers.
Keep in mind that this book is dated, since it was written in 1991. However, the lessons and stories are a pleasure to read and most dealings techinques have no expiration date.
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By
Clement Hovey
on May 26, 2012
Format: Paperback
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The book, while non-fiction, introduces characters that rival any fiction tale. The storyline therefore is easy to get into, and keep up with. With the many stories and dramas, all centered around one of the most powerful industries in one of the most powerful cities. A must read for any developer/architect/history fanatic.
Any walk through NYC is more appreciated knowing a bit more history about the buildings lining each street, and the dynasties behind them. The Manhattan skyline is iconic, and this book helps understand how it came to be.
Any walk through NYC is more appreciated knowing a bit more history about the buildings lining each street, and the dynasties behind them. The Manhattan skyline is iconic, and this book helps understand how it came to be.
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