Obituary of Stephen Ely

Stephen Ely, 85, of Locust Valley, NY, died peacefully on March 15, 2025, surrounded by his family. He was born in Washington, D.C. on April 12, 1939, to Sterling and Helen Ely, and attended St. Albans School, receiving varsity letters in track, football, and wrestling. He graduated from Princeton University, Class of 1961, where he was a varsity swimmer and member of the Charter club. He served in the U.S. Marine Corps as a sergeant, receiving a marksman medal, and later moved to New York City to work for Kuhn, Loeb & Co. where he became a partner in 1971. In 1983, he co-founded and was a partner of Haven Capital Management. 

Stephen moved to Locust Valley with his growing family and first wife, Susan, 50 years ago. He was an active member of the Locust Valley community, serving as a board member for The Grenville Baker Boys and Girls Club for 22 years and chairing the Susan Ely Memorial Scholarship Committee for 25 years. A black belt in tae kwon do, something he achieved twice, he loved to spend time playing croquet, tennis, squash, to shoot skeet, and to hit endless golf balls on the practice range. He also enjoyed playing backgammon and bridge, especially during his commute on the LIRR club car, a commute he made for more than 40 years. 

He had a wonderful sense of adventure and loved to travel, appreciating cultures beyond his own. He also enjoyed scuba diving, glider flying and flying small engine planes. More than anything, of course, he enjoyed time with his family, sharing his wisdom and warmth with each generation. His home was a gathering place for all, including many of his friends and the friends of his children through the years.  

He is survived by his second wife, Jennifer, his four children, Lyda Ely (Jeff Brodlieb), Lynn Dixon (Brooke), Sara Hulse (Alex), Sterling Ely (Kelly), his stepdaughter Eliza Wehrle (JonPaul Turner) and his six granddaughters. He was predeceased by his first wife, Susan in 1997 and his sister, Lloyd Ely, in 2012.  

He will be remembered as a gentleman, kind and generous, with a wry sense of humor and an insatiable sweet tooth. Careful on the road, he may also be remembered as the slowest driver in Locust Valley as anyone who was stuck behind him can attest.

Services will be held at St. John’s of Lattingtown on Saturday, April 5, 2025 at 11am. In lieu of flowers, please consider supporting The Grenville Baker Boys & Girls Club, Click Here or St. Albans School (D.C.), Click Here or Caringkindnyc.org, Click Here in his name.

The family wishes to express their gratitude for the compassionate care from his longtime caregiver, Kirsis Hernandez.