Area served Manhattan, New York Founder Leonard Litwin Type of business Incorporated | Headquarters New York City Founded 1961 | |
Industry Rental apartment building, ownership, and management | ||
Glenwood Management Corp. (Glenwood) is a New York City rental apartment builder, owner and manager incorporated in 1961. Glenwood - headed by Leonard Litwin [3] - owns and manages residential buildings in Manhattan, New York. As others built condominiums during the boom, the developer stuck with rentals and is now jockeying to expand. The firm is known for providing upscale rental residences in New York City.
History
Glenwood’s first apartment building, the Pavilion, opened in 1964. The flagship building “spans an entire city block, housing over 800 apartments” and has its own ZIP code. Following the opening of The Pavilion, Glenwood focused the next 20 years building on the Upper East Side before extending its portfolio to Midtown, Downtown and subsequently the Upper West Side. The firm focused its attention on lower Manhattan in 2004 with Liberty Plaza and then Barclay Tower, which opened in 2007. In 2009, Glenwood concentrated on Midtown West with the opening of Emerald Green and subsequent launch of Crystal Green in 2012.
In 2015, Glenwood Management became the center of a corruption scandal involving Governor Cuomo and several other politicians including Sheldon Silver and Dean Skelos along with his son, Adam Skelos. Silver, Dean and Adam Skelos were found guilty in federal court on all counts after separate trials prosecuted by U.S Attorney for the Southern District, Preet Bahrara. Both legislators were immediately expelled from the New York State legislature. They're awaiting sentencing.
Glenwood Management is the largest political donor to Governor Andrew Cuomo. Glenwood gave money or moved "certain tax business to a law firm, Goldberg & Iryami, that secretly shared its fees with Mr. Silver" to politicians, amongst them Sheldon Silver and, in exchange, had many meetings with the politicians both in their offices and at their residences. The politicians re-wrote rental laws in Glenwood's favor, loosened rent controls which hurt NYC renters, and gave Glenwood the largest tax break for any real estate developer in NYC.