Jacob Rutstein
| Jacob Rutstein | |
|---|---|
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| Born |
Jacob Rutstein April 15, 1877 Tolochin, Belarus |
| Died | February 27, 1946 (aged 68) Brooklyn, New York |
| Nationality | United States |
| Occupation | Real estate developer businessman lumberman |
| Known for | Jew Plank |
| Spouse(s) | Bessie Poretzky |
Jacob Rutstein (1877–1946) was an American businessman, philanthropist, real estate developer and lumber magnate who became known for his innovations to the Lumber Nominal Measurements or Nominal Size by the invention of the 11/4 wooden panel, commonly known as Jew Plank.
Jacob Rutstein was born in Tolochin, Belarus as Yankev Rutstein. From an early age, Jacob's father took him to the Tolochin commodities market which dealt primarily in lumber. Jacob developed a keen business acumen, and by the age of twelve, he far exceeded his own father's business prowess. During his teenage years, Rutstein was drafted into the Russian army after which he was recruited by a German company supervising the import of lumber into Western Europe. At eighteen, Rutstein was promoted to the General Manager of the Minsk Capital Region. Over time, Rutstein amassed a small fortune which he subsequently deposited in London. In 1902, at the age of approximately twenty-five, Rutstein, fleeing religious persecution, immigrated to the United States via London. Unable to bring his assets from Europe into the United States, he settled in the Lower East Side of Manhattan bereft of his former fortune.
By 1909, Rutstein had migrated from the Lower East Side where had been working in a sweatshop for $3 a week to Brownsville, Brooklyn where he gained entry into the real estate industry. At the time, Brownsville, located in Eastern Brooklyn was a growing residential neighborhood with a large demand for modern housing. By 1912, Rutstein founded Brownsville Housewrecking Company which facilitated building demolition and from which he salvaged and sold used lumber. At the same time, Rutstein began acquiring land throughout Brooklyn - from Brownsville, Brooklyn to what would become Shore Road along the Belt Parkway. Rutstein's success in the wrecking and lumber businesses evolved into the formation, in 1922, of Brownsville Lumber. As Principal of Brownsville Lumber, Rutstein supplied lumber to New York's leading real estate families and began to experiment with doing his own building and development.
The increased demand for lumber led Rutstein to acquire the raw source of timber. During the 1920s, Rutstein began to acquire lumber fields throughout the United States and as far away as Oregon. By owning the source of lumber, Rutstein was able to sell cheap lumber at reduced rates and undercut his competition throughout New York City. In control of the lumber supply, Rutstein was able to undertake large building campaigns throughout Brooklyn and especially in Brownsville, Brooklyn and Crown Heights. The New York Times described Rutstein as "a pioneer builder in the Brownsville-East New York section of Brooklyn."
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