Marvin Kratter
| Marvin Kratter | |
|---|---|
| Born | November 9, 1915 Brooklyn, New York |
| Died | October 24, 1999 (aged 83) Encinitas, California |
| Nationality | United States |
| Education | B.A. Brooklyn College J.D. Brooklyn Law School |
| Spouse(s) | Lillian Rosenbloom |
| Children | Leslie Kratter David E. Kratter Sherry Santa Cruz |
Marvin Kratter (born November 9, 1915 in Brooklyn, died October 24, 1999 in Encinitas, California) was a New York-based real estate developer who was the head of the Kratter Corporation, National Equities, Countrywide Realty, Knickerbocker Brewery, Rom-American Pharmaceuticals, and the Boston Celtics.
Born to a Jewish family, Kratter graduated from Brooklyn College and Brooklyn Law School (1939), Kratter started his career as a Certified Public Accountant in New York City. He moved to Tucson, Arizona in the 1930s and he started a dude ranch, Rancho del Rio Estates, in 1945. Kratter's ranch went bankrupt in 1949 and he moved back to New York City, where he became one of the first to practice real estate syndication.
In 1956, Kratter bought Ebbets Field from Brooklyn Dodgers owner Walter O'Malley. He leased Ebbets Field back to O'Malley until the team left for Los Angeles after the 1957 season. After purchasing the air rights to the Trans-Manhattan Expressway entrance to the George Washington Bridge on the Manhattan side, Kratter built the Bridge Apartments in 1961. The project consisted of four 32-story buildings built over the expressway and were some of the first aluminum-sheathed high-rise structures built in the world. In 1960, Kratter demolished Ebbets Field and in 1962, built the 1,327-apartment Ebbets Field Apartments under the Mitchell-Lama program which gave developers tax breaks and low-interest mortgages to build middle-class housing. Kratter also developed the St. Tropez, one of the first condominium apartment buildings in the city and owned the St. Regis Hotel and the Knickerbocker Brewery. From 1965 to 1968, Kratter was the owner of the Boston Celtics.
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