Paul Reichmann Quotes

A collection of quotes by Paul Reichmann.

Paul Reichmann (1930-2013) was a prominent Canadian businessman and real estate tycoon. He was born on September 27, 1930, in Vienna, Austria, and later migrated to Canada with his family to escape the horrors of World War II.

Reichmann's entrepreneurial journey began in the early 1950s when he established a small construction firm called Olympia and York Developments Limited (O&Y) with his brothers Albert, Ralph, and Saul. The company initially focused on modest construction projects, but within a few years, Paul's visionary leadership propelled O&Y towards large-scale real estate developments.

Throughout the 1970s and 1980s, under Paul's strategic guidance, O&Y transformed the skyline of major cities around the world, most notably Toronto, New York City, and London. The company became renowned for its ambitious development projects, such as the iconic World Financial Center in Lower Manhattan.

However, Reichmann's fortunes took a downturn in the late 1980s due to a combination of excessive debt and a declining real estate market. O&Y faced severe financial difficulties and eventually filed for bankruptcy in 1992, marking one of the largest real estate failures in history.

Despite this setback, Reichmann remained active in the real estate industry and made a remarkable comeback in the late 1990s. He focused on revitalizing abandoned properties and continued to build his business empire.

Paul Reichmann passed away on October 25, 2013, leaving behind a lasting legacy as a visionary entrepreneur and a transformative force in the world of real estate.