Word: wien
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...make himself look older, 2) confuse his creditors, and 3) camouflage himself from the first of his five wives-to say nothing of the several other girls he was leaving behind. Stolz was bitten by the composing bug while he was conductor of Vienna's Theater-an-der-Wien, wrote some of his first real hits while serving as an army clerk in World War I. Among them: Lang, lang ist's her (700 performances), Madel küss mich (750). Sperrsechserl (a phenomenal 2,600 performances beginning...
...their two young daughters, Bull's mother and uncle. Dead were a dozen or so artists, some of them promising, including Douglas Davis, 33, who had been living in Paris and had decided at the last minute to visit his mother in Atlanta. Dead were Art Patron Sidney Wien, his wife and their daughter; Del Paige, president of the Art Association, and his wife; Tom-Chris Allen, southeastern advertising manager of LIFE, and his wife; Mrs. David Black, one of the tour organizers and an energetic leader in Atlanta's art world. Married couples and individual parents...
...Thousand Partners. The Empire State deal is typical of Lawrence Wien's style of operating on high-rent turf around the country. Columbia-educated, Wien got into commercial real estate in 1949 when he gathered a small group of investors to buy a two-story building for $165,000. Broker on the deal was Harry B. Helmsley, chief of the Manhattan broker-management firm of Helmsley-Spear. Wien and Helmsley have been allies ever since, have parlayed their original venture into a $600 million real estate empire that includes New York's plush Plaza hotel and the more...
Heart of the Wien-Helmsley technique is large-scale syndication-a maneuver that they pioneered. Syndication gives a number of people a chance to own property none of them could afford singly, and often yields investors as much as 10% a year on their money, far better than most stocks. Above all, since a syndicate of as many as a thousand members can still legally be called a partnership, there is no corporate income tax to worry about. In the case of the Empire State, Wien even syndicated the $4,000,000 deposit required. He himself put up only...
Chow in the Sky. Wien, who has a hand in the operation of nearly all his syndicated properties, insists that he is not a speculator. "We buy for permanent investment," he declares, "and can only sell a property with 100% consent of the investing partners." Among his plans for the Empire State: to open a luxury restaurant beneath the highly profitable ($2,000,000 a year) observation deck, plant trees around the base of the building, brighten its cavernous lobbies, and complete the air conditioning of its 1,750,000 sq. ft. of rentable space, which currently has a highly...