Word: wien
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Dates: during 1960-1969
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...lanes of Warsaw's "Old Town" clad in ankle-length leather overcoats. The taxi fleet of Budapest is made up largely of Russian Pobedas, whose grillwork and lumpy chassis resemble those of ancient Plymouths. In the faded plush elegance of Bucharest's Athenee Palace Hotel, violins sob Wien, Wien, Nur Du Allein with a sentimentality unmatched since Grand Hotel. More than 300,000 Westerners made Hungary their destination; there they dined on goose liver sautéed in butter at Gundel's, or listened to an Eddy Duchin-like piano at the Pipacs (pronounced Peapatch) nightclub, whose...
...Schine holdings, worth an estimated $150 million, brought the value of Wien and Helmsley's coast-to-coast collection up close to $900 million, three times that of the spread controlled by William Zeckendorf at his apogee six years ago. Says Helmsley: "We know of no private investors whose holdings are larger than ours...
Shift in Tactics. Personable Lawyer Wien, 60, and shy Broker-Manager Helmsley, 56, pioneered the promotion of large-scale syndicates. Much of their property is held in common with about 10,000 other people, disarmingly described by Helmsley as "friends who go into these investments with us." The pals have included Wall Streeters John L. Loeb and Clifford W. Michel, and the syndicated holdings range from Manhattan's Plaza Hotel to properties in Los Angeles, Detroit, Buffalo, Dayton and Daytona Beach...
Conservatively built, the partners' realm has survived the general shake-out of real-estate syndicates since 1962. Some recent acquisitions, such as the 35-acre Bush waterfront terminal in Brooklyn, have been financed with only a few wealthy partners, and increasingly, Wien and Helmsley have been able to swing deals all by themselves. The Schine purchase, made without partners, brings them twelve hotels (including Miami's faded Roney Plaza and Los Angeles' first-class Ambassador), 62 theaters in the East and Midwest, and a community antenna-TV system in Massena...
David, now 37 and married to a Swedish-born former Miss Universe (they have five children), runs the Ambassador in Los Angeles, hopes to keep that job under the new owners. Wien and Helmsley will hold at least some things intact: they intend to go ahead with the Schines' plans to build high-rise office and apartment buildings, a convention hall and a shopping center around the Ambassador...