The Magazine Family
We've been writing about DC real estate families, and here's a pillar of both old and new Washington. Sheldon Magazine, who be 90 this October, was one of the most active developers in DC in the '60s and '70s along with brother Sam, building Foxhall Condominiums, Alexandria House, and The Georgetown Inn Hotel. He acquired the Hay Adams in 1973. His son Marc became its GM, and after he got it into Leading Hotels of the World, the family sold it and Sheldon and his wife retired to Palm Springs. Marc now oversees the hotel practice for Savills Studley where his son Justin also is a broker. Coming full circle, several years ago Marc and Justin represented PB Capital in selling the Watergate Hotel, for which Sheldon was general contractor when it was built in the '60s. Justin's great grandfather, Bill, started the family in the business in the '40s. Along with Charlie Kaplan, he formed Standard Construction, which with the co-investing Small and Gewirz families later acquired 1700 K and 1000 Connecticut Ave.
