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Edward R.
Stavitsky was one of the original founders of Christiana Capital.
From the time of the original Company's incorporation in 1954, Ed
served on the Board and played a key role in almost all of the
Group's ventures. His record of achievements spanned over fifty
years in business, in diverse sectors which included science and
technology, real estate, financing, development and management,
operations and financial consulting, and the entertainment
industry, as well as philanthropic enterprise. He was a biochemist
and a member of the New York Stavitsky family.
The
Stavitskys headed the largest real estate, insurance brokerage and
management firm in New Jersey and built, owned and operated the
largest office building in the State of New Jersey at the time -
the Military Park Building, 60 Park Place, Newark.
Ed
pioneered Bank/Insurance Company/Developer Joint Ventures in
Commercial Development; he pioneered and pragmatized Mixed Use
Concept Development in New York and introduced it to Los Angeles;
he was the first developer of multi-unit housing in Houston,
Galveston and Pasadena, Texas - resulting in the development of
over 25,000 garden apartment units and 15,000 single family
residences. He was the first Realtor to actively implement the G.I.
Bill Home Mortgage Program (U.S. Service Veteran Program) in
significant numbers (over 15,000) for non-white and minority
applicants.
Ed was an
owner, Chief Financial Officer and Executive Vice President of the
Maxwell Company-Straus-Duparquet, the oldest, most prestigious and
largest furnishing, decorating and design firm in the United States
at the time. He also added another dimension to the company -
financing - and the ability to issue its own Stand-bys, backed by
Franklin National Bank.
Ed in
fact was a pioneer in the use of Stand-by Letters of Credit to fund
real estate development projects, conceiving this idea in late 1953
and working directly with Franklin National Bank from 1954 to 1970
- over which period he personally placed many billions of dollars
of development funding and contributed to the growth of Franklin
National Bank from the 24th largest to 11th largest bank in the
USA. In accordance with his father's teachings (Mike Stavitsky was issued the First
Savings & Loan Charter for the State of New Jersey), Ed
achieved a remarkable zero foreclosure rate over this
period.
Ed’s
involvement in the Film and Entertainment industry is legendary.
His uncle, Mike Hollander (the Hollander Fur Company), had financed
several of his Salesmen into the motion picture industry in the
1920's and 30's - people such as Samuel "Goldfish" Goldwyn, Marcus
Loew (hence the theatre chain), and Adolph Zukor (founder of
Paramont Studios). Theatre-goers will recognize “Hollanderizing” in
the Broadway hit “Guys & Dolls”, which in fact refers to a
process invented by the Hollander Fur Company. Ed Stavitsky grew up
with this legacy and attributed Christiana’s long involvement with
the film and entertainment industry to it.
Ed and
his brother Albert also owned Bronston Studios in Madrid, Spain
together with Sam Bronston, where they were responsible for movies
such as King of Kings, Doctor Zhivago and El Cid.
For a
period of some 25 years, Christiana Capital and Ed worked hand in
hand with Chase Manhattan Bank to provide a substantial component
of the total financing for 20th Century, Universal and United
Artists over that period (Mr Tom McMahon, a Director and owner of
Christiana Capital, also concurrently held the position of Senior
Vice President, then Executive Vice President at Chase Manhattan
Bank and Head of the Credit Policy Committee).
A
pianist, conductor and composer, Ed was a Principal, along with
"Bumps" Blackwell, of Entertainment Management International, which
received over 37 Gold Records for Production & Arranging for
Feature Film Songs. Ed’s motion picture experience included
positions as Principal in the firms of: Capra Associates, Totacom,
and Worldwide Creative Artists which collectively functioned in all
phases of financing, producing, distribution and promoting film
vehicles.
Ed served
as financial consultant to Borg Warner, the State of Louisiana,
Mexico for its Border Development, Greece, Turkey and Ecuador.
During the decade 1965-1975, the Stavitsky Brothers were decorated
by many nations, including Haiti, Greece, Italy, Mexico, Burundi,
Costa Rica as Consul General, the Greek Orthodox Church, and the
Greek Order of Zante.
He was a
founder of the Fun Time Advertising Agency, the originator of
coupon advertising.
Early career
As a
biochemist, Ed contributed many written articles relating to
aldehydes and ketones in addition to other Bio-Chemical subjects,
and tutored M.D.s in preparation for their licensing examinations
covering Bio-Chemistry and Anatomy. Participated in the development
and synthesis of Drene and Dreft Shampoo for Proctor and Gamble.
Conducted extensive research involving the alpha and beta cells in
the Islets of Langerhans (Pancreas) as a contributory effort to the
diabetes research program.
He played
an important role in assisting Dr Selman Waksman in a disciplined,
systematic, calculated research and search program for
"antibiotics", a word which the Waksman team coined in 1941,
leading to the extraction and discovery of Streptomycin - by that
same team, three years later. He was also engaged in continued
research, isolation and development of other antibiotics aside from
Streptomycin.
Testimonials to Ed Stavitsky
Rather
than any success in the business world, Ed felt the following three
verbatim excerpts illustrated, for him, “my finest hour"
:
Paul J.
Brienza says - "I am Managing Director of the Building
Contractors Association of New Jersey. I have known Edward
Stavitsky for about 37 years. We were neighbours as children and
literally grew up together. Edward was the continuation of the
prestigious Stavitsky image for integrity and service to housing
and philanthropic activities. Ed Stavitsky was well known to me as
Father of Housing for Black people, at a time when Black people
were being gouged by landlords and had nothing to show for their
money and efforts except Rent Receipts. Ed created a new dimension
for Black people to own homes - which factor probably prevented
riots and virtual holocaust from taking place at that time." -
1973
Mrs
Jennie L. Lemon says - "My business address is Newark City Hall,
Broad Street, Newark. I am a Lecturer and Public Speaker on
Government and Community Relations in the Water Department and then
spent 12 years with the Department of Administration of which six
(6) years was as the Assistant to the Mayor of Newark, and in that
capacity handled the problems of the community. I have also served
as Information Analyst for the City of Newark. I have known Edward
Stavitsky for 25 years. He provided a new and needed dimension for
Black people at a time when no one else cared or would or could do
anything to help them. Ed Stavitsky dedicated himself to the
objective of accomplishing housing for the Black community by
providing the financial assistance, his own personal guarantees and
"guts" - necessary to accomplish it. He was the only licensed Real
Estate Broker in New Jersey who employed Black secretaries and
Black salespeople - at a time when no-one else employed a single
Black person in mortgage and banking and real estate services.
Stavitsky also had the foresight and the genuine interest and
concern for the welfare of the Black people who, after achieving
home ownership, became the target for various frauds and cheats. He
led a crusade in the '50's - almost single-handed - to counteract
corruption in the City of Newark, by warning people not to fall
prey to the F.H.A. siding installers. Stavitsky helped to create a
strength and pride in home ownership for the Black community.
Unfortunately, our society did not produce enough people like Ed
Stavitsky; if it had, Newark never would have been ravaged by riots
and our dream of an integrated society would have become a reality.
Edward Stavitsky will always be remembered as a humane, dedicated,
totally unselfish person who changed the hopeless pattern of more
than 15,000 peoples lives to one of promise, security and self
respect." - 1973
Lucius H.
Tompkins says – “I have been in the life insurance business
for over 30 years. I am the first Black person appointed to the
position of Motor Vehicle Agent in the State of New Jersey. I have
known Ed Stavitsky for 25 years and he is responsible for my
training and licensing in the real estate brokerage field. I was
the first Black person given the opportunity to learn the mortgage
and real estate business. His father, Michael A. Stavitsky, was
given the first Federal Savings & Loan Charter in the State of
New Jersey, and Edward Stavitsky was the pioneer in the area of
financing home purchases for Black families in the United States.
The G.I. Bill was purely a meaningless "piece of paper" until
Edward Stavitsky gave it meaning. He was the only person who was
able to convince the financial community - on a national basis - in
the late '40's and early '50's - to
recognize Blacks as responsible, trustworthy and accountable. He
provided a dignity for our people which was totally lacking before
his energies took over and made it all possible. His empathy for
our goals and objectives advanced our cause in a positive and
healthy manner by decades. Edward and his brother Albert performed
the greatest example of generosity, kindness and love I have ever
personally encountered - when they gifted 36 properties that they
owned, consisting of three, four and six family homes, which were
free and clear of all liens and encumbrances, to favourite tenants
of theirs for the sum of One Dollar representing the total
consideration for the conveyance. Ed Stavitsky unbelievably found
the time to assist everyone of his family of Buyers and Tenants
with medical, dental and legal problems and provided the timely
advice, counsel and all kinds of assistance in the areas of music,
sports and higher education - for the children.” –
1973 |
