Martin S. Kimmel (April 9, 1916 – April 15, 2008) was an American real estate developer and philanthropist who co-founded
Kimco Realty Corporation, the largest builder of strip malls in the United States.
Early life and education
Kimmel was born to a Jewish family
[New York Times: "Paid Notice: Deaths - KIMMEL, MARTIN S.]
April 17, 2008 in the
Bronx
The Bronx () is a borough of New York City, coextensive with Bronx County, in the state of New York. It is south of Westchester County; north and east of the New York City borough of Manhattan, across the Harlem River; and north of the New Y ...
on April 9, 1916, one of four sons of Henry and Emma Kimmel.
[New York Times: "Martin S. Kimmel, 92, Co-Founder of Retail Real Estate Firm, Dies" By DENNIS HEVESI]
April 17, 2008 His father, Henry Kimmel, managed a family-run lighting fixture store. After wiring many new buildings, he started buying property and built many multi-family residential buildings in New York City.
Kimmel attended
Syracuse University but left to serve in the Army during
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing ...
in the Pacific theater.
Upon returning to the US, he worked with his father at the lighting store, and then for the construction company Henry Kimmel and Sons, where he learned about the homebuilding industry. Based with this knowledge, he started his own company on
Long Island which built garden apartments.
Career
Using the profits from his construction business on Long Island, Kimmel and his friend, Milton Cooper,
moved to Florida
and founded the
Kimco Realty Corporation in 1958.
[Kimco Realty website: Timeline]
retrieved February 10, 2013 Kimco derives its name from the surnames of the two founders. They correctly presaged that Florida was in the midst of transitioning from a vacation destination to a retirement haven.
Their first investment was a small strip mall with two stores attached to a
Zayre's. Sticking to the same formula - focusing on strip developments in new subdivisions (often following utility trucks out to find new developments - they were wildly successful and over the next thirty years, Kimco's portfolio grew to over 1,900 properties of which 1,100 were strip shopping centers. Their business expanded internationally and included properties in Canada, Mexico, Chile and Brazil.
The company went public in 1991 raising $128 million becoming the first
Real Estate Investment Trust
A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...
(REIT)
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
in history.
Kimmel retired in 1991 to focus on philanthropic activities.
Philanthropy
Kimmel was an important benefactor of
New York University
New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then- Secretary of the Treasury Albert Gallatin.
In 1832, th ...
donating $10 million in 2005 and $15 million in 2006 to fund the Helen and Martin Kimmel Center for Stem Cell Biology,
[New York University Medical Center: "NYU Receives Two New Gifts Totaling $260 Million]
2008 creating a professorship of molecular immunology, and contributing to the construction of the Helen and Martin Kimmel Center for University Life which houses the
Skirball Center for the Performing Arts
The Jack H. Skirball Center for the Performing Arts, generally known as NYU Skirball, is an 850-seat theater at 566 LaGuardia Place in Manhattan, New York, owned by New York University. It was named after philanthropist Jack H. Skirball. The th ...
.
Kimmel is also a significant contributor to the
Weizmann Institute of Science
The Weizmann Institute of Science ( he, מכון ויצמן למדע ''Machon Vaitzman LeMada'') is a public research university in Rehovot, Israel, established in 1934, 14 years before the State of Israel. It differs from other Israeli unive ...
in
Rehovot, Israel
funding the Helen and Martin Kimmel Institute for Magnetic Resonance, the Helen and Martin Kimmel Center for Molecular Design, the Helen and Martin Kimmel Hyperbaric & Advanced Wound Healing Center, and the Kimmel Center for Archaeological Science. Kimmel was a long time supporter of the
Jewish Museum A Jewish museum is a museum which focuses upon Jews and may refer seek to explore and share the Jewish experience in a given area.
List of Jewish museums
Notable Jewish museums include:
*Albania
** Solomon Museum, Berat
*Australia
** Jewish Mu ...
in New York City.
Kimmel served as a trustee of
New York University Langone Medical Center
NYU Langone Health is an academic medical center located in New York City, New York, United States. The health system consists of NYU Grossman School of Medicine and NYU Long Island School of Medicine, both part of New York University (NYU), and ...
.
Personal life and death
Kimmel was married three times:
*In 1953, he married American actress and singer
Gloria DeHaven
Gloria Mildred DeHaven (July 23, 1925 – July 30, 2016) was an American actress and singer who was a contract star for Metro-Goldwyn-Mayer (MGM).
Early life
DeHaven was born in Los Angeles, California, the daughter of actor-director Carter De ...
. They divorced in 1954.
*His second marriage was to Claudia Aronow, a New York artist and daughter of boat designer and racer
Donald Aronow
Donald Joel Aronow (March 3, 1927 – February 3, 1987) was an American designer, builder and racer of the famous Magnum Marine, Cary, Cigarette, Donzi, and Formula speedboats. He built speedboats for the Shah of Iran, Charles Keating, Rob ...
. They later divorced. They had one son together, menswear designer Adam Kimmel who is married to the actress
Leelee Sobieski
Liliane Rudabet Gloria Elsveta "Leelee" Sobieski (born June 10, 1983) is an American artist and former actress. She achieved fame in her teens with roles in films such as '' Deep Impact'', ''Eyes Wide Shut'', '' Joy Ride'', '' Here on Earth'', a ...
.
*His third marriage was to Helen Lyttle.
In addition, Kimmel has several stepchildren: stepdaughter Betsy Karel of Washington; stepdaughter Abby Leigh of Manhattan; and stepson Alexei Hay of Manhattan.
Kimmel was a member of
Temple Emanu-El in New York City.
Kimmel died April 15, 2008. In November 2008, his wife Helen donated $150 million toward construction of a new patient pavilion at the
NYU Langone Medical Center
NYU Langone Health is an academic medical center located in New York City, New York, United States. The health system consists of NYU Grossman School of Medicine and NYU Long Island School of Medicine, both part of New York University (NYU), and ...
in honor of her late husband.
Healthcare Finance News: "NYU Medical Center receives $260M to boost expansion efforts" by Richard Pizzi
November 13, 2008
References
External links
{{DEFAULTSORT:Kimmel, Martin
1916 births
2008 deaths
American real estate businesspeople
Jewish American philanthropists
20th-century American philanthropists
20th-century American Jews
21st-century American Jews