Morton Olshan, a Commercial Real Estate Figure and a Yankees Owner, Dies at 99

Morton Olshan, a part owner of the New York Yankees and prominent real estate figure in the Bronx, has died at the age of 99.

Olshan, whose career began as an accountant in the 1950s and who later founded employment agency Volt Information Sciences, died Feb. 19, his company said in a tribute.

Olshan made his splash in the real estate market in 1967, when he founded Olshan Properties, originally Mall Properties, which specializes in the development, acquisition and management of commercial real estate. The company currently owns or manages a portfolio of approximately 23 million square feet across the U.S., according to the company’s website.

“From humble beginnings in Brooklyn to becoming a transformative figure in the national real estate industry, my father truly exemplified the American dream,” his daughter Andrea Olshan, now chairman of Olshan Properties, said in a statement to Commercial Observer. “He loved how real estate had the power to improve communities and positively impact lives.”

In his prominent role in New York City real estate, Morton Olshan helped preserve landmark buildings such as Midtown’s B. Altman and Company Building and oversaw the rehabilitation of the 171-building, 12,000-unit Parkchester residential community in the Bronx, his company said in a tribute.

Then, in 2000, Olshan became a principal owner of Yankee Global Enterprises, formerly YankeeNets LLC, and continued to serve on the Yankees’ board of directors until his passing, according to the company.

Even though he was a part owner of the baseball team, Olshan wasn’t the biggest fan in his house. His wife, Carole Olshan, is a diehard Yankees fan, and Mort Olshan mainly saw the team as an investment, his daughter Andrea Olshan previously told CO.

“My father really bought it as an investment,” Andrea Olshan told CO in 2016. “My mother is the biggest Yankees fan. My father would probably not watch as many games as he does, but for the fact that when you hear my mother screaming in the other room when she’s watching it, you might as well watch the game. That is how he ends up watching every single game.”

As a philanthropist, Olshan was a member of the New York Urban Coalition and The President’s Council of the New York Public Library. He also represented the New York City Comptroller’s Office on the Metropolitan Museum of Art’s board of trustees.

In 2021, Olshan was named a “living landmark” by the New York Landmarks Conservancy for his “dedication to civic and social service organizations,” according to the tribute.

“He always believed that one’s work should enhance lives, not just landscapes,” Andrea Olshan said. “Beyond the real estate investments, the Yankees ownership, and being named a Living Landmark by the New York Landmarks Conservancy, what truly defined my father was his unwavering commitment to improving the world around him.”

Olshan is survived by his wife Carole; his children, Andrea and Michael; and five grandchildren.

Isabelle Durso can be reached at idurso@commercialobserver.com.