Sol Goldman (born Usher Selig Goldman, September 2, 1917 – October 18, 1987) was an American real estate investor and philanthropist. Goldman was the founder of Solil Management, a real estate investment firm he founded in the 1950s with his business partner, Alex DiLorenzo. Goldman was widely considered the most prominent non-institutional real estate investor in

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

in the 1970s and 1980s. At its peak in the 1970s, Goldman's portfolio consisted of nearly 1,900 commercial and residential properties, including the

Chrysler Building The Chrysler Building is an Art Deco skyscraper on the East Side of Manhattan in New York City, at the intersection of 42nd Street and Lexington Avenue in Midtown Manhattan. At , it is the tallest brick building in the world with a steel fra ...

. At the time of his death in 1987, Goldman owned the largest private real estate portfolio in New York City with more than 600 properties, worth over $1 billion.

Early life

Goldman was born in

Brooklyn, New York Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, be ...

and raised in a Jewish family, the son of Fannie and Charles Goldman. April 3, 1989 His father owned a grocery store. Goldman briefly attended Brooklyn College, before turning to real estate during the Great Depression. At age 16, he purchased his first of many foreclosed properties by raising money from his neighbors.The Real Deal: "Sol Goldman's $6B portfolio in play, as children accelerate dealmaking" By Adam Pincus
April 01, 2013

Career

In the 1950s, he partnered with Alex DiLorenzo Jr. Together they were very active purchasers through the 1950s and 1960s and their portfolio included the

which they bought in 1960. Although the 1970s were difficult—he lost the Chrysler Building to foreclosure, and DiLorenzo died in 1975—Goldman continued to invest, purchasing more than 600 buildings in the subsequent years via his company Solil Management (named after Sol and his wife, Lil). Goldman was known for holding onto his properties and rarely selling, preferring instead to sign tenants to long-term ground leases (typically 99 years) where the tenants pay an annual rent to Goldman but are responsible for taxes and upkeep of buildings on the properties. The Sol Goldman Pancreatic Cancer Research Center at

Johns Hopkins University Johns Hopkins University (Johns Hopkins, Hopkins, or JHU) is a private research university in Baltimore, Maryland. Founded in 1876, Johns Hopkins is the oldest research university in the United States and in the western hemisphere. It consi ...

is named in his honor, following a gift of $10 million. The Sol Goldman Pool at

Red Hook Park Red Hook Recreation Area, also known as Red Hook Park, is a public park in the Red Hook neighborhood of Brooklyn, New York City, composed of several segments centered around Bay Street. The park's recreational facilities include handball cour ...

was named for him in 1991 after a trust, set up following his death, donated $2 million to fund the operation of several public pools during a municipal budget shortfall.

Personal life

In 1941, he married Lillian Schuman, who was also

Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...

. They had four children; Allan H. Goldman, Diane Goldman Kemper, Amy P. Goldman and Jane Goldman. His wife and three daughters engaged in litigation over his assets with his wife eventually receiving 33% of his estate. His nephew, Lloyd Goldman, is also a notable real-estate investor in New York City.

Early life

Career

Personal life

References

Further reading