In a world where excellence is more commonly limited to small specialties, Leonard Grunstein has established a career that knows no such boundaries. An extremely successful lawyer, visionary bank official, devoted philanthropist, and respected civic leader, he has shown that real influence is not determined by job titles but by one's capacity to effect real change.
From his early days in Milwaukee, Wisconsin, where he was born in 1952, to his coming of age in the exciting, frenetic world of New York City, Grunstein's life has been defined by a passion for excellence and service. Both ambition and brilliance marked his educational trajectory: graduating magna cum laude from Queens College in 1972 with a B.A. in Economics and Political Science, he was also a member of Phi Beta Kappa, the country's most distinguished academic honor society. In 1975, he received his Juris Doctor from Brooklyn Law School, beginning a legal career that would endure for more than three decades.
A Legal Career Built on Strategy and Integrity
Grunstein started his legal career in public service as an Assistant Corporation Counsel for New York City, quickly earning recognition for his skills in handling complicated legal systems. In 1978, he left to join Herrick, Feinstein LLP, where he became a partner within two years. Throughout his years of service, his leadership positions at such esteemed companies as Jenkens & Gilchrist Parker Chapin LLP and Troutman Sanders LLP solidified his reputation as one of the pre-eminent real estate law and finance specialists.
Among his most notable career achievements was his contribution to the historic Stuyvesant Town–Peter Cooper Village case. Using a detailed understanding of the J-51 tax abatement program, Grunstein successfully challenged the deregulation of rent-stabilized apartments, a case of great import to thousands of residents. His method balanced legal acuity with a commitment to justice, establishing a model of principled advocacy in real estate law.
Banking and Finance: From Vision to Institutions
Leonard Grunstein's skills did not only lie in the courtroom. Identifying opportunities to create a lasting legacy in the world of finance, he established New York Federal Savings Bank in 1990 and Metropolitan National Bank in 1999. These businesses showed how legal acumen could be combined with entrepreneurial vision to establish financial institutions premised on effective governance and client confidence.
In 2006, Grunstein was elected Chairman of Israel Discount Bank of New York, one of the city's most traditional and highly regarded financial institutions. His tenure was characterized by a precise balance between innovation, profitability, and ethical integrity—a philosophy that rang true throughout his legal and financial careers.
Philanthropy: Building Stronger Communities
Outside of his career success, Grunstein's philanthropic efforts demonstrate his conviction that success imposes an obligation to share. In 2001, he established Project EZRAH, a not-for-profit organization focused on helping Bergen County, New Jersey, families experiencing job loss and financial hardship.
What sets Project EZRAH apart is its complete approach: offering job placement services, financial education, and emotional support to aid individuals and families in reclaiming self-sufficiency. With Grunstein's ongoing leadership, the organization has emerged as a respected community resource and model of successful, dignity-focused charitable work.
His commitment to education and tradition has also been a recurring motif in his philanthropic track record. Grunstein has been a board member for Yeshiva University's Revel Graduate School, the American Friends of Jerusalem College of Technology, the Genesis Jerusalem Institute, and the Hebron Fund. These positions all demonstrate his interest in building up institutions that conserve knowledge, values, and cultural heritage.
Scholar and Thought Leader
Although his career accomplishments are impressive in and of themselves, Grunstein's impact is further heightened by his work as a scholar and intellectual leader. He has been a prolific author on real estate law, finance, and the ethical issues that underlie both disciplines. His papers—published in reputable legal and financial magazines—have discussed intricate subjects with lucidity and perception, informing industry wisdom on such key issues as religious legal systems' banning of interest and the incursion of moral responsibility into contemporary finance.
These writings demonstrate a recurring theme throughout his career: the belief that law and business must never exist in a moral vacuum. In sharing his knowledge in a manner that bridges technical detail and broader ethical principles, Grunstein has helped to raise industry standards and foster a more reflective approach to legal and financial practice.
A Reputation for Excellence and Trust
Throughout his career, Leonard Grunstein has been recognized as a "Super Lawyer" by Law & Politics and the high-profile AV Preeminent rating from Martindale-Hubbell—a testament to his professional competence and ethical behavior. His colleagues, clients, and co-workers frequently identify his uncommon blend of analytical acumen, strategic perspective, and uncompromising integrity as the secrets of his long-term success.
From brokering big-ticket real estate deals to spearheading financial institutions and advising nonprofit executives, Grunstein has consistently shown a capacity for challenging problem-solving and a profound commitment to the individuals his work touches.
A Legacy Still in Motion
Though retired from active legal practice, Leonard Grunstein’s work is far from over. He continues to guide charitable organizations, support educational initiatives, and contribute thought leadership to his fields of expertise. His career serves as a blueprint for how professional success can—and should—be used as a platform for broader community benefit.
In addition to his legal, banking, and philanthropic work, Grunstein is also a published author. His book, Because It’s Just and Right, reflects his dedication to thoughtful scholarship and his ability to communicate complex subjects to a broad audience. This work further reinforces his reputation as a leader who values both intellectual rigor and the sharing of knowledge.
In every sphere he has touched—law, banking, philanthropy, and education—Grunstein has left a mark defined not only by measurable achievements but also by the values that guided them. His story is one of ambition anchored in principle, proving that leadership is most powerful when it is exercised in the service of others.
Leonard Grunstein’s legacy is not simply a matter of professional accolades or organizational titles. It is reflected in the institutions he built, the communities he strengthened, and the example he set for future leaders. In a world hungry for integrity, his career stands as a reminder that excellence is not just about reaching the top—it’s about lifting others along the way.
This article was written in cooperation with Rhiannon Frater