Larry Korman, Co-CEO of Plymouth Meeting-based Korman Communities, a fully integrated developer and management company and the President of AKA Hotel Residences, is continuing to evolve the business started in the ’60s by his father, Steve Korman, writes Lucy Cohen Blatter for the Mansion Global.
The elder Korman pioneered the furnished apartment industry in Philadelphia and formed Blue Bell-based Korman Suites, a collection of 23 apartment buildings in the Philadelphia region.
His son however, is more focused on California, which he believes to be home to the best luxury homes in the world.
“You can start at Big Sur, work your way to Montecito, then to Bel Air, and Malibu and then to La Jolla,” he said. “There are some of the most amazing homes with the best views.”
Korman also believes that right now, it is much better to buy a house rather than building one from scratch.
“Materials and labor costs have gone up and people want efficiency in their homes,” he said. “The demand for big homes is not there. You can buy a spectacular home now for a major discount.”
Read more about Korman Communities at the Mansion Global by clicking here.