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| Irving M. Felt | |
|---|---|
| Name | Irving M. Felt |
| Birth date | 1910 |
| Birth place | New York City |
| Death date | 1994 |
| Death place | New York City |
| Occupation | Businessman, real estate investor, cultural patron |
| Known for | Development of Madison Square Garden (1968), sponsorship of Lincoln Center for the Performing Arts |
Irving M. Felt Irving M. Felt was an American real estate investor and businessman noted for his role in the redevelopment of Madison Square Garden and for support of prominent cultural institutions. Active in mid-20th century New York City finance and urban development, he influenced projects intertwined with institutions such as the New York Knicks, New York Rangers, and performing arts organizations. Felt's activities connected him with leaders in finance, philanthropy, and politics across institutions including Columbia University, Pratt Institute, and municipal planning bodies.
Felt was born and raised in New York City, coming of age during the Great Depression and the interwar period alongside contemporaries in Wall Street and Harlem Renaissance–era cultural circles. He attended local schools before pursuing business interests that brought him into contact with figures from Columbia University, New York University, and regional business networks centered on Manhattan. His formative years overlapped with developments like the Empire State Building construction and the expansion of the New York City Subway system, shaping his urbanist outlook.
Felt built a career in real estate investment and corporate finance, participating in transactions involving properties in Manhattan, Queens, and Brooklyn. He negotiated with entities such as Pennsylvania Railroad, Penn Central Transportation Company, and municipal agencies overseeing Penn Station. His investment portfolio intersected with corporate actors like General Motors, American Telephone and Telegraph Company, and regional developers from firms akin to Tishman Realty & Construction and Robert M. Morgenthau-era legal circles. Felt worked alongside financiers and investors connected to Lehman Brothers, Goldman Sachs, and Merrill Lynch, engaging attorneys from firms with ties to Skadden, Arps, Slate, Meagher & Flom-style practices. He served on boards and collaborated with cultural trustees from institutions such as the Carnegie Corporation, Guggenheim Foundation, and Rockefeller Foundation.
Felt led a group that acquired control of the project to replace the original Madison Square Garden (1925) arena, coordinating with transportation stakeholders like Long Island Rail Road and policy makers from New York City Planning Commission. His effort required negotiations with corporate landlords including Pennsylvania Railroad successors and public officials from administrations of mayors such as John Lindsay and Ed Koch. The construction and relocation involved architects and contractors with links to projects like the Seagram Building and developers comparable to I. M. Pei collaborators. As part of the arena development, Felt engaged sports franchises such as the New York Knicks and New York Rangers, entertainment promoters tied to Live Nation–style promoters and booking agents who historically rented venues such as Carnegie Hall and Radio City Music Hall. The project prompted debates involving preservationists associated with the Metropolitan Museum of Art and advocates linked to the Landmarks Preservation Commission.
Felt supported performing arts and education, contributing to organizations including the Lincoln Center for the Performing Arts, Metropolitan Opera, and regional orchestras akin to the New York Philharmonic. His philanthropy extended to museums and foundations such as the Museum of Modern Art, the Whitney Museum of American Art, and the Brooklyn Academy of Music. He worked with trustees from institutions like the Carnegie Hall Corporation and served as a donor in networks connected to the National Endowment for the Arts and private benefactors modeled on the Rockefeller family and Ford Foundation. He funded scholarships and capital projects that benefited schools related to Pratt Institute and programs affiliated with Columbia University and Barnard College.
Felt's family life intersected with social circles in New York City and regional communities in Westchester County and Palm Beach, Florida. He associated with legal and philanthropic figures similar to members of the Sullivan & Cromwell and Debevoise & Plimpton networks, and his relatives engaged in professions spanning law, finance, and the arts. Social engagements placed him among patrons of venues such as The Metropolitan Club and participants in charitable events alongside names from the Knickerbocker Club and trustees of the New-York Historical Society.
Felt died in 1994 in New York City, leaving a legacy tied to urban redevelopment, sports and entertainment venues, and cultural philanthropy. His role in reshaping the midtown Manhattan landscape influenced later projects involving developers like Donald Trump and city leaders including Rudy Giuliani and Michael Bloomberg. Institutions affected by his patronage and development decisions—such as the Madison Square Garden (1968), Lincoln Center, and municipal transportation hubs—continue to be focal points in debates about preservation, urban planning, and cultural funding. His papers and related records are of interest to historians studying postwar New York City business, philanthropy, and architecture.
Category:American businesspeople Category:Philanthropists from New York (state)