Rubin Schron
| Rubin Schron | |
|---|---|
 |
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| Born | 1938 (age 78–79) |
| Nationality | United States |
| Occupation | real estate investor |
| Known for | founder of Cammeby’s International Group |
| Net worth |
 US$10 billion (2017) |
| Spouse(s) | married |
| Children | eight |
Rubin Schron, who goes by Ruby, is a New York City real estate investor, landlord and the founder of Cammeby's International Group. He has a personal net worth of well over $10 billion, according to data company Real Capital Analytics. The portfolio of Cammeby's, which Schron founded in 1967, includes office buildings, market-rate and government-subsidized apartment complexes, nursing homes, the 16-building complex in Sunset Park now known as Industry City, a stake in the bottom half of Woolworth Building and industrial properties scattered across Long Island. In 2013, Schron made an unsolicited and unsuccessful offer to buy the Empire State Building for $2 billion, but he has not had problems closing many other deals throughout his long career. In 2003, an investment group led by Schron paid $600 million for a portfolio of about 6,000 outer-borough apartments from Donald Trump. Other buildings he owns include the Monterey, a 521-unit rental multifamily building on Manhattan's Upper East Side; over the decades, Schron has also amassed a portfolio of Mitchell-Lama apartment buildings whose values have been skyrocketing to record values, after reverting to market rates when government subsidies expired. In 2007, he sold nearly 4,000 units of former Mitchell-Lama properties in five complexes in Harlem and on Roosevelt Island for $940 million. Schron, who practices Orthodox Judaism, has eight children and 50 grandchildren. He and his family have lived in the same single-family home in Brooklyn for many decades.
Schron grew up on the Lower East Side of Manhattan in an Orthodox Jewish family. His family entered the real estate business by using the proceeds from the death of his brother in World War II to purchase a small apartment building.
Schron continued with the family business purchasing several buildings in the Bronx. In 1967, he founded the real estate investment company Cammeby’s International Group. Typically partnering in all his transactions, Schron steadily grew the business. In 2007, Cammeby's was managing over $1 billion in assets. Rubin Schron partners with Avrohom Fruchthandler president of FBE Limited on most of his large real estate deals.
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