[9] Their company was acquired by Kinney Services Corporation in 1964, with the Milsteins remaining as managers of the unit until 1971 before sale.

[8] Milstein launched the family's first real estate development projects in the 1950s in partnership with his brother Seymour.

[citation needed] In 1978, Milstein acquired the Biltmore Hotel, which opened in 1913 following the construction of Grand Central Terminal.

Beginning in 2019, Milstein's grandson, Michael, led another major renovation and modernization of the building, which was renamed 22 Vanderbilt in 2022.

[10] In 1989, the Milstein family acquired Douglas Elliman-Gibbons & Ives residential real estate brokerage.