The Chanin brothers, Irwin S. and Henry I., who started their operations in the building industry ten years ago with the erection of a $7,000 frame house in Bensonhurst, Brooklyn, purchased the Hotel Majestic, Central Park West, to be replaced by a forty-five story hotel to cost $16,000,000.
The Chanin brothers have been instrumental during the past ten years in the erection of $80,000,000 worth of new buildings in New York City. Fifty million dollars worth of construction has been completed by them in the Times Square and Grand Central zones during the past four years. Their $15,000,000 office building at 42nd Street and Lexington Avenue was opened last January. Six theatres in the Times Square district, including the Roxy Theatre, were completed by them. Irving S. Chanin is 36 years old and his brother 34.