Word: zeckendorfs
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With a rare talent for expanding now and financing later, Manhattan's aggressive William Zeckendorf, 56, long ago made himself master of one of the nation's most grandiose real estate empires. The catch was that Zeckendorf's Webb & Knapp, Inc. was always barely one gasp ahead of its creditors: by last year the company was staggering under some $100 million in short-term debt, found itself so short of ready cash that Zeckendorf was obliged to swallow his pride and abandon cherished plans to build a $60 million Manhattan luxury hotel named after himself (TIME...
...heart of the Southwest project is a complex of glass-and-stone apartments, a new shopping center, 81 trim town houses, and a new theater for the city's Arena Stage Players. Along Tenth Street, which will be widened, Manhattan's William Zeckendorf is putting up a 1,000-room hotel, three big office buildings and dozens of shops, all surrounding a plaza to be named after City Planner L'Enfant...
...somehow spotted a few members of the smart set slumming there one night. No sooner did Cholly break the news in his gossip column than the Peppermint Lounge became an instant fad. The Duke and Duchess of Bedford showed up. So did Porfirio and Odile Rubirosa, and Bill Zeckendorf Jr. and Judy Garland and the Bruno Pagliais (Merle Oberon), and Billy Rose, and Tennessee Williams, and William Inge. The word shot quickly over the mink-line to the Stork's Cub Room, El Morocco and the Harwyn Club. Inside of just a few weeks, virtually everybody who is anybody...
...Never at a loss for a grandiose idea, Manhattan Real Estate Tycoon William Zeclcendorf, boss of the widespread Webb & Knapp empire, acquired a controlling interest in Yonkers Raceway for International Recreation Corp., a Webb & Knapp affiliate. Estimated cost: $17 million. Zeckendorf's avowed intention is to build a geodesic dome over the track to make it a year-round sports arena. More likely, he will merge the profitable Yonkers with International in order to write off the losses on International's Freedomland amusement park, which has yet to show a profit. Always in need of ready cash, Zeckendorf...
...home, e.g., desk clerks wear evening clothes after 6 p.m., coffee is ground just before brewing. Shrewd Businesswoman Sharp (who took over Sharp Ltd. Hotels on the death of her husband in 1941) last week sold the Gotham, the Stanhope and California's Beverly Wilshire to William Zeckendorf's Webb & Knapp for $25 million. As replacements, Mrs. Sharp plans to put up in Manhattan and Beverly Hills a pair of new luxury hotels, as posh as ever but with modern details, such as refrigerators disguised as antiques...