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How a Man Turned Prejudice into Profit and Created a Black Mecca.
Philip A. Payton Jr: The Father of Harlem
Philip A. Payton Jr: The Father of Harlem
Philip A. Payton Jr was born February 27, 1876 in Westfield, MA.
His Mother was a Hairdresser, his Father a Barber.
Philip Sr was adamant about his children learning a trade, so Philip Jr was a full-fledged Barber by 15.
This created the foundation for him as an entrepreneur.
His Mother was a Hairdresser, his Father a Barber.
Philip Sr was adamant about his children learning a trade, so Philip Jr was a full-fledged Barber by 15.
This created the foundation for him as an entrepreneur.
In 1899 when Philip was 23, he left for NYC against the wishes of his parents.
He would work several odd jobs, one being a Porter and a Janitor in a Real Estate office.
This is where he got introduced to the industry, motivating him to open his own firm.
He would work several odd jobs, one being a Porter and a Janitor in a Real Estate office.
This is where he got introduced to the industry, motivating him to open his own firm.
He saved up his money, found a partner, and opened up Brown & Payton in the winter of 1900.
Payton got married soon after.
Unfortunately, the business failed after a few months, Brown leaving the business in Spring 1901.
This caused Payton to go into business by himself.
Payton got married soon after.
Unfortunately, the business failed after a few months, Brown leaving the business in Spring 1901.
This caused Payton to go into business by himself.
Mrs. Maggie Payton would hold the household down with her sewing work while Philip got his business together.
A Sewing Queen.
They moved to Harlem, where Philip would soon get his first opportunity to get into the NYC Real Estate game.
A Sewing Queen.
They moved to Harlem, where Philip would soon get his first opportunity to get into the NYC Real Estate game.
Payton put out ads urging Black Americans to move to Harlem, which was predominantly Jewish & German.
This was highlighted by the fact that many Southern Blacks were migrating North due to Jim Crow Laws.
As you can imagine this caused a bunch of Racist backlash.
This was highlighted by the fact that many Southern Blacks were migrating North due to Jim Crow Laws.
As you can imagine this caused a bunch of Racist backlash.
In fact, Payton would go on to use this racism to his economic advantage.
He details his first real estate deal in a local black newspaper below.
Payton found a niche, finessing racist White landlords out of their properties.
He details his first real estate deal in a local black newspaper below.
Payton found a niche, finessing racist White landlords out of their properties.
To Payton, Racism was an âexpensive luxuryâ that most people couldnât afford.
As racist tenants began moving out, the property values plummeted, allowing Payton to buy at huge discounts.
As racist landlords overcharged/refuse black tenants, Payton offered rents at market rates.
As racist tenants began moving out, the property values plummeted, allowing Payton to buy at huge discounts.
As racist landlords overcharged/refuse black tenants, Payton offered rents at market rates.
In 1904, Payton founded the Afro-American Realty Company after meeting with the NNBL.
He issued 50,000 shares at $10 each.
He invited affluent Black Americans nationwide to live in Harlem and invest with his company.
The AARC grew to $1M in Assets with $114,000 in annual rent.
He issued 50,000 shares at $10 each.
He invited affluent Black Americans nationwide to live in Harlem and invest with his company.
The AARC grew to $1M in Assets with $114,000 in annual rent.
Probably the illest REI stories ever.
A racist REI group (Hudson Realty) bought property from AARC and evicted their Black tenants.
Paytonâs response?
Buys the property right next to Hudsonâs and evicts all the White tenants.
He had the whole city going crazy
I love it.
A racist REI group (Hudson Realty) bought property from AARC and evicted their Black tenants.
Paytonâs response?
Buys the property right next to Hudsonâs and evicts all the White tenants.
He had the whole city going crazy
I love it.
The AARC transformed a predominantly White community that was left for dead into a vibrant Black community.
The Company was a success, until it wasnât.
Payton promised a 10% return on his shareholders investments, and when he couldnât deliver they successfully sued him in 1906.
The Company was a success, until it wasnât.
Payton promised a 10% return on his shareholders investments, and when he couldnât deliver they successfully sued him in 1906.
After he shut the AARC down in 1908, he moved on and started the Philip A. Payton Jr. Company.
In 1917 he bought six apt buildings for close to $1.5 Million. Largest acquisition by a BM.
Payton died of Liver Cancer soon after, his assets were managed by two former members.
In 1917 he bought six apt buildings for close to $1.5 Million. Largest acquisition by a BM.
Payton died of Liver Cancer soon after, his assets were managed by two former members.
It was because of Philip A Payton Jr that 3/4 of the Black American NY population lived in Harlem.
He ushered in the population that would later start the Harlem Renaissance.
Black American Excellence personified.
He ushered in the population that would later start the Harlem Renaissance.
Black American Excellence personified.
