Word: zeckendorfs
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...head of Webb & Knapp, Inc., whose interests have spanned from Los Angeles' Century City to Manhattan hotels, rotund William Zeckendorf is known as a spectacular real estateman. His losses have also been spectacular. In 1962, Webb & Knapp dropped $19.6 million. Last week, filing an annual statement that had been delayed so that accountants could untangle Zeckendorf's web of multiple mortgages, the company reported a disastrous 1963 loss of $32.3 million...
...elbow-one to the office, one to the outside world and one to the rostrum, 75 ft. away. But all those hot lines could not break the ice at the giant auction in the grand ballroom of Manhattan's Astor Hotel. In need of some hard cash, William Zeckendorf, 58, put 25 New York City properties up for grabs, hoping to get more than $7,500,000. Only ten of them drew any bid at all, sold for a near-minimum $2,622,000 (which will be whittled down to a mere $1,575,000 when Zeckendorf pays...
Like their U.S. parent, the two companies founded by Zeckendorf have fallen on lean times. Last year Webb & Knapp (Canada) lost $1,264,000, in part because of a slide in Canadian real-estate prices, and Trizec lost $2,877,000 because costs of constructing its $100 million Place Ville Marie-Montreal's Rockefeller Center-overshot estimates by $25 million...
...attempt to conserve cash, Webb & Knapp (Canada) wants to pay the holders of its debentures in interest notes instead of dollars over the next three years and promises to undertake no new projects. But Canadian moneymen were skeptical that Impresario Zeckendorf could really restrain himself. So "Big Bill" had to go. His exit at Trizec followed virtually automatically, and the departure was sweet revenge for Britain's Second Covent Garden Properties Co. Ltd., which has a 24.5% interest in Trizec; six representatives of Second Covent Garden had been forced off the board of the U.S.'s Webb & Knapp...
...England. A slight, wiry, cosmopolite (Czech-born, to a French father, Hungarian mother), Bouche studied in Munich and Paris, went through "all the isms-expressionism, surrealism, nonobjectivism"-before settling in New York in 1941 to find his real calling: chronicling "the quintessential people of our time" from Arp to Zeckendorf, and producing a gallery always elegant and sometimes profound-as when he painted Elsa Maxwell as a Velasquez court dwarf...