Once the head of the largest real estate development company
in the world, which went bankrupt in 1992, Paul Reichmann died Friday in
Toronto, CBC has learned. He was 83.
The reclusive Reichmann brothers built Olympia & York
into a major international development firm after starting out as a small
company marketing flooring and tile in Toronto.
The five Reichmann brothers were the sons of Orthodox
Hungarian Jews who fled central Europe during the Second World War.
Older brother Edward started a small company in Toronto and
Paul Reichmann was the force who parlayed it into a global real estate
empire.
Their developments included First Canadian Place in Toronto,
the World Financial Center (right next to the World Trade Center in New York),
and Canary Wharf in London.
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