Word: kratter
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...onetime bellhop whose nine-hotel chain in Mexico City and Acapulco is the largest in Central America. The sale completed the financial legerdemain begun last February when Webb & Knapp bought the St. Regis for $14 million. Two months later it sold the hotel to Manhattan's Kratter Corp. for $11 million, kept operating control. Webb & Knapp's estimated profit on the St. Regis deals...
...Five firms bid for the rights to 90,000 sq. ft. of air over a two-block area in Upper Manhattan that has been cleared of old apartment buildings for a new expressway approach to George Washington Bridge. The highest bidder: Manhattan Realtor Marvin Kratter, 44, whose Kratter Corp., formed only last year, has become one of New York's most aggressive and ambitious builders. The sale marked the first time New York City has sold air rights over a sunken road for buildings to rise over...
Directly above a new twelve-lane expressway, Kratter intends to build a $12 million, 27-story middle-income apartment project renting at $28 per room, hopes to give it a multishaded shell of pastel porcelain for "a fiesta look." The buildings will stand on 45-ft. stilts placed between the lanes of the expressway, will have their heating and other utility equipment on the top floor. Says Kratter: "We'll probably have the only penthouses in New York occupied by heaters and boilers...
ZECKENDORF'S Webb & Knapp has dropped plan to buy 20th Century-Fox's 267-acre movie lot in Los Angeles and develop it into $500 million "Century City," needs its cash for other developments. Kratter Corp., New York realty investment company, will pay $43 million cash for the property, build middle-income housing and shopping centers. Webb & Knapp still plans a 950-room hotel...
Anchor to Windward. Before the Sports Center Authority undertook the tedious business of condemnation, O'Malley got up $5,000,000 as his share of the venture. He sold Ebbets Field to a real-estate operator named Marvin Kratter for $3,000,000, and signed a lease for the Dodgers to play there for three more years. He sold his Montreal farm club's park for $1,000,000, disposed of his Fort Worth park for another...