A Brief History

Krooth & Altman, a partnership for the general practice of law, was established in 1947 by David L. Krooth and Norman S. Altman.  Within several years, the firm had achieved national prominence in legal matters relating to the financing and development of affordable housing in the United States.

David and Norman came to Washington, D.C. in the 1930's as two "New Deal Whiz Kids"- bright and enthusiastic young men who were attracted to the Nation's Capital to work in the administration of President Franklin D. Roosevelt.  David arrived from the University of Chicago Law School; Norman, from Harvard Law School.  Each had tremendous energy and a vibrant commitment to assist Americans in a time when the Great Depression was having a devastating impact on so many families.

David and Norman met in Washington and quickly became acquainted with like-minded young people who had come to the city to make a difference.  They were regularly invited by Supreme Court Justice Louis Brandeis to attend the monthly teas he hosted, where Justice Brandeis stimulated spirited discussions about important issues of the day and provided a venue for introducing talented young professionals to one another.  Their early days in Washington were the genesis of David and Norman's life-long friendships with many political notables.

After establishing Krooth & Altman, David and Norman worked successfully with the Senate Banking Committee to fashion important laws that to this day affect American housing and finance policies.  Among his several positions in the Roosevelt administration, Norman worked for a time as assistant to William O. Douglas, the Chairman of the U.S. Securities and Exchange Commission.  Among his several positions, David worked for the Office of Price Administration, which played a vital role in stabilizing the economy in the latter phase of the Depression and during World War II.  David also had influential roles in the drafting and development of Federal housing law and policy, including major drafting responsibilities for the Public Housing Act of 1937.

In 1947, David left government service and persuaded Norman to become his partner in the new firm of Krooth & Altman.  The firm specialized initially in public finance matters and securities law, and soon was recognized for its innovative thinking in housing finance and government financing programs.  Among other accomplishments, the firm was instrumental in implementing concepts that provided for the development and financing of cooperative multifamily housing for low and moderate income families.  A signature case for the firm was the conversion of Armisted Gardens, a federally owned war housing project in Baltimore, into a low-income housing cooperative, a transaction that demonstrated the legal and financial viability of enabling low-income tenants to become homeowners.

The firm also received significant international attention as attorneys for the conversion of more than 1,500 rental residences in Greenbelt, Maryland into a cooperative housing corporation.  Greenbelt, one of the first planned communities in the United States, had been created by the federal government as a community that consisted of low and moderate income rental units.  Krooth & Altman coordinated the law (federal, state, county and municipal), the policies and the financing associated with this project and assisted the federal government and the residents in achieving their mutual objective of homeownership. 

An interesting note regarding the Greenbelt case is that Norman played an active role in the legal and political battles to defeat "McCarthyistic" forces that attempted to compel all of new homeowners in Greenbelt to take a "loyalty oath" as a condition to the acquisition of a home in the housing cooperative.  Norman believed that such a requirement violated the U.S. Constitution, and he participated in the successful legal effort to have the loyalty oath declared unconstitutional.

In addition to his active practice with the firm, David devoted much attention to public policy issues relating to the inadequate supply of decent housing in the United States for poor and moderate income families.  As part of these efforts, he participated in the creation of the National Housing Conference, which continues to be a positive political force in working to develop meaningful and effective national legislation to address housing needs in America.

In 1960, David and Norman asked Victor Altman, Norman's brother, to leave his attorney's position at the Department of Justice and join the firm to help meet the demands of an expanding law practice.  In 1961, David, Norman and Victor recruited William S. Tennant, then the Special Assistant to the General Counsel of the Federal Housing Administration.  These four attorneys formed the nucleus of a law firm that developed into the practice that Krooth & Altman enjoys today.

From David and Norman's initial concept in 1947, the firm has evolved into a national law practice that provides quality legal services throughout the country.  Krooth & Altman LLP, while continuing to specialize in matters of multifamily real estate and health care capital financing and related banking activities, also maintains an active practice in taxation, litigation, corporate and partnership law, particularly as these areas relate to capital finance.  The firm also maintains an active practice in entertainment and intellectual property law.

The firm, now Krooth & Altman LLP, became a Limited Liability Partnership in 1999.