Commercial Real Estate Finance

By now, many of you have likely heard about the tragedy this past weekend regarding local Philadelphia real estate executives Steve and Dan Altman, heads of The Altman Companies, and Dan’s son Doug.  Their Piper plane collided midair with  a Liberty Helicopter,  transporting Italian tourists on a 12 minute aerial sightseeing tour around Manhattan.  I had the fortune of knowing all three Altman men, and to say they will be missed is akin to saying its warm in the Sahara…a sweeping overview and a vast understatement.

Before I started my career in real estate, Dan Altman was one of the first people I spoke with.  Not only did he give me sound advice, but spoke about real estate with such a passion, that it was hard for the feeling not to rub off on you. Yet, real estate was not the only thing he was passionate about.  The ease with which he could talk to you about anything, as simple as what he had for lunch, was enough to keep you captivated and engaged as if you were watching the twist ending of  a suspenseful movie. He always seemed to have a smile on his face, and always took an interest in the particulars of your life, even if there was no reason for him to, which is likely the reason why of everybody who knew Dan Altman, you’d be remiss to find a single person who ever had anything bad to say about him.

His personal life was a reflection of the same qualities that made him a successful businessman. He had a loving wife, and two amazing sons.   I first met Doug when I was visiting my in-laws, who also happen to be their next door neighbors. I played basketball with Doug on their driveway hoop, and while I might have been a decade and a half older and six inches taller, his drive and carefully crafted skill evened the playing field.  Dan was a big reason for that.  He encouraged his son to be the best he could be, in athletics and in the classroom, and I witnessed it time after time, seeing them both out there almost every time I visited my in-laws.  Dan, no doubt, gathered his charm and work ethic from his father David, and older brother Steve, both of whom I knew on a more limited basis.  Yet the entire family projected a sense of warmth and support that few families are blessed with today, and I witnessed it the last several years at synagogue on the Jewish high holidays.

I viewed Dan Altman as a professional mentor, visiting him and seeking his advice each time I have switched jobs.  I am certain he was aware of this fact, even though it was never discussed formally.  What I’m not sure about however, was that I viewed him as a mentor in life as well.  He was a man who truly had so much going for him, it is hard to imagine a person who had a more well-rounded life, which is what makes his untimely death, truly a tragedy.  Everybody wanted to be around Dan, and from what I’ve read on Doug’s memorial facebook page, he generated similar feelings from those who knew him.  I can only justify the events of this past Saturday morning with the notion that maybe someone above felt the exact same way about them too.

Why am I writing this on a commercial real estate blog, to an expanded international audience?  Because regardless of whether you knew the Altmans personally, we likely all know somebody who invokes the same feelings in each of us. Look, making money is great, but making memories is better. While it is surely ironic that death is what makes us appreciate life, we shouldn’t ignore that sentiment simply because it is cliche.  Take stock of what you’ve got, not what you have yet to achieve, and be thankful for it, because you never know when it may abruptly come to an end.

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