Location: Plymouth Meeting, PA
“Starting with my father 50 years ago, we identified a demand in the marketplace for furnished apartments that allow guests to stay for extended periods of time in a residence that feels like a home away from home,” says Larry Korman, co-CEO of Korman Communities. “We made this market segment our primary focus.” Over the decades, the company added further innovative touches to its apartments, including 24/7 food delivery and in-unit washers and dryers.
WORDS OF WISDOM: “If you can conceive it, you can achieve it.”
“We were the first company to purchase whole condominium buildings — not individual residences within a building — and add hotel services,” says Korman. “It enabled us to create the feeling of a community where the staff knows you by name.” Korman Communities sought out top architects to design each property, and commissioned interior designers to add a high-end, modern touch. The company currently has five properties in New York City and three in Philadelphia, as well as additional locations in Washington, DC, Beverly Hills and London. “We’re also looking to expand to new cities,” says Korman.