As a young law school graduate without employment during the Great Depression, Irving Shapiro settled for a job researching real estate records for attorneys. The enterprising Shapiro quickly recognized a market for his knowledge. With his experience in real estate, he founded New York Abstract Corporation in 1934. It was the first full-service title insurance agency in New York. The corporation continued to grow until Mr. Shapiro expanded it into Royal Abstract Corp. in 1946.
In 1956, Irving Shapiro employed his son-in-law, Stanley Kravet. Mr. Kravet was a graduate of New York University and Brooklyn Law School, and he served as an attorney for various developers and real estate magnates. In his time, Stanley Kravet was instrumental in facilitating the construction of some of New York’s most iconic buildings. In 1985, after graduating from Wharton School of Business and New York University School of Law, Stanley’s son, Martin Kravet joined Royal Abstract and he remains the CEO today.