Philips International, A Leader in Hotel Development

When people think of New York City, their minds immediately conjure up images of its impressive skyline, shaped by iconic structures such as the Empire State Building, the Chrysler Building, and more recently, the One World Trade Center. However, the city that never sleeps has another groundbreaking building in its midst whose unique construction and decorative design has made it a staple of New York’s concrete jungle since its completion in 1924. Not too far from the Empire State Building stands this neo-Gothic tower shrouded in black and gold: the American Radiator Building.

Since its inception, the American Radiator Building has been owned by several high-profile property developers, including Philips International. Yet, its beginnings are fairly humble. In 1922, Raymond W. Hood, who at 41 years old had not accomplished much in his design career, was pushed by his colleague John Mead Howells to enter a design competition for the anticipated Chicago Tribune building. Inspired by the neo-Gothic structures he knew through working for Cram, Good hue Ferguson, Hood submitted a original and innovative neo-Gothic tower design that won the commission. Suddenly, Hood was known all over New York, and within a year, he was designing the American Radiator Company’s headquarters on West 40th Street across from Bryant Park.

The building’s neo-Gothic ornamentation combined with the overall sleek geometric lines anticipated the Art Deco craze that would soon envelop Manhattan architecture. The black brick with gold accents solidified the structure as one of the most daring experiments in color in modern buildings in America. The American Radiator Building was also the first New York skyscraper with dramatic exterior lighting. In 1988, the building was sold to Japanese company Clio Biz, who planned on converting it into a hotel. However, the building sat empty for a decade until Philip Pilevsky of Philips International purchased it in 1998 for $15 million. Finishing what Clio Biz had never started, Pilevsky started the building’s conversion into the Bryant Park Hotel.

Pilevsky brought in many design experts to turn the building into one of New York’s most exclusive and luxurious hotels, including British designer and architect David Chipperfield, who had also designed fixtures for American Standard. Chipperfield’s unique vision brought the visitor from the 1920s outside to the 60s-inspired 21st Century inside with bright colors and vibrant designs. He placed burgundy leather walls in the lobby area, and custom-designed many of the high-end details and fixtures in the space, including a vaulted-ceilinged cavern house the Cellar Bar and a restaurant below the lobby level.

Philips International – A Legacy of Excellence in Real Estate Practices

Philip Pilevsky is one of the biggest names in real estate – an impressive feat when your area of expertise is New York City. A graduate of Columba University, where he received his MA in education and political science, Pilevsky is currently the founder, chairman, and CEO of Philips International, an esteemed position he has held for almost four decades. Philips International is one of the largest privately owned real estate development and property management organizations in New York.

As its head leader, Pilevsky oversees all aspects of ownership, development, sales, acquisitions, leasing, and property management for over 200 properties that include retail shopping centers, commercial office buildings, residential properties, hotels, commercial condominiums, and residential cooperatives throughout the United States. Because of Pilevsky’s unmatched experience in the areas of residential and commercial real estate, the company has continued to grow steadily since 1979, seeking opportunities across the country and committing itself to building strong relationships and innovative ideas.

Like all successful businessman, however, Philip Pilevsky has evolved over the years. In the mid-80s, much of Pilevsky’s revenue came from his uncanny abilities as a flipper, or a real estate dealer who sings a contract to buy a property and sells the contract before he takes title to the property. As the 38-year-old president of Philips International, Pilevsky freely conceded that his ability to invest millions of dollars of his own capital into his projects was due to successful flipping over the previous decade. But in 1984, Pilevsky began moving away from his reputation as a flipper, and instead started focusing on building his portfolio as an investor.

At that time, Pilevsky said he had about $400 million worth of property, including large-scale development projects including the recently completed River Hotel on Christopher Street in the West Village, and the new 28-unit condominium under construction on the Avenue of the Americas between Waverly Place and Washington Place in Greenwich Village. His endeavors have clearly defined him as an entrepreneur in the real estate world.

Pilevsky’s strategy has also been unique. Starting out as a land dealer in Florida, Pilevsky later moved to Orlando where he found he could resell land that had been mapped for development in the 1920s. He returned to New York in 1974, where he obtained a broker’s license and began building small shopping centers in Brooklyn, Queens, and Staten Island. When it comes to buying property, Pilevsky said he always avoids ‘pyramiding,’ meaning each of his projects is independent of the others.