Albert Reichmann, Builder of NY, London Finance Hubs, Dies at 93

New York Manhattan skyline

Mr. Reichmann ran developer Olympia & York with brothers Paul and Ralph.

January 17, 2023
Laurence Arnold - Bloomberg

Albert Reichmann, the longtime president of his family’s Olympia & York Developments Ltd., builder of the World Financial Center in New York and the first phase of Canary Wharf in London, has died. He was 93. 

He died on Dec. 17, according to the National Post and a notice on the website of Steeles Memorial Chapel, a Toronto-area funeral home.

As the eldest of the three Orthodox Jewish brothers behind Olympia & York, Reichmann held the title of president. In practice, his brother Paul — who died in 2013 — was the company’s “idea man and deal-doer,” in the words of Anthony Bianco, a former Businessweek writer whose book on the family called Olympia & York “the greatest property development company in Western history.”

Before its 1992 bankruptcy, it was the largest private owner of commercial property in New York City.

Forbes magazine calculated the brothers’ cumulative net worth at $9.2 billion at its height in 1988, making them among the world’s richest people.


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