13 Dec The Korman Legacy
Hyman Korman moved to the US from Russia with his uncles, who were successful railway builders themselves. In his 20s, Hyman swept floors and toiled away in the garment industry for 8 years before getting his hands on some farmland.
His children grew up on a farm and had the work ethic of farmers – wake up early, work and do chores, diligently go to school, and so on. Eventually, they would start building homes in 1921. With a strict $200 margin on each house, they were able to build around 30 to 40 thousand homes in a year.
The Kormans were instrumental to the early development of Philadelphia. They built the storied Palace Hotel on the Parkway, commercial properties, suburban apartment complexes, and single-family homes. Steven Korman even revolutionised the apartment industry in the US, offering fully furnished apartments with flexible leases in 1966.
Larry, Brad, and Mark Korman join Michael Stoler in the video above to discuss their family history and where they will go in the development of two brands. Tune in to learn their story.