Mort Olshan, a towering figure in New York City real estate who rose from humble Brooklyn beginnings to become the Bronx’s largest landlord, died on Feb. 19. He was 99.
Daughter Andrea, who runs Seritage Growth Properties, described her father to The Real Deal as a “larger than life” personality who “dared to do incredible things.”
Olshan’s entrepreneurial spirit emerged early. As a young man, he worked multiple jobs at resorts, waiting tables and refurbishing used cars to drive women home with their luggage. A gifted athlete, he gained recognition as a windmill baseball pitcher at City College.
He found his calling when he began working as an accountant for a wealthy real estate investor, who took the young Olshan around on weekends to watch him managing properties, collecting rents and change from laundry machines. This apprenticeship, combined with savings his mother had carefully preserved from his summer work, enabled him to purchase his first building.
Eventually, the Parkchester complex in the Bronx became a cornerstone of his real estate empire, which largely revolved around the borough, despite his Brooklyn upbringing. The 12,000-unit behemoth of an affordable housing community was the crown jewel in a 60-year career.
He ultimately became a principal owner of another Bronx institution, the New York Yankees and was heavily involved in the preservation of Midtown’s B. Altman and Company Building, at the corner of 34th Street and Fifth Avenue.
Olshan remained focused on civic responsibility rather than personal recognition. He lived, as Andrea remarked, “in a constant state of how do I give back.”
Olshan’s passion for real estate was infectious. Andrea recalled their regular “mall walks” where her father would analyze properties from wall to wall. She grew up to eventually work alongside her father at their company for 17 years before going on to lead Seritage, a move she said her father was “overwhelmingly supportive” of.
Mort Olshan earned accolades from the Municipal Arts Society and was particularly passionate about supporting the Horace Mann School, Harvard University and Jewish community organizations. He rarely allowed himself to be honored, making an exception when the New York Landmarks Commission named him a “Living Landmark” in 2021.
Throughout his long career, Olshan “had time for everybody,” according to Andrea. “Every doorman was sobbing [when he died], every superintendent came to the funeral.”
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