New York, NY – Philanthropist Ruby Schron Sells Manhattan Portfolio for $940M.

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    New York, NY – A huge portfolio of former Mitchell-Lama properties has traded hands for $940 million, marking the second largest residential portfolio sale in Manhattan history. the sale is comprised of nearly 4,000 units–most in Harlem–that were managed by Jerome Belson, who made his fortune in real estate by purchasing Mitchell-Lama properties.

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    City records list the buyer of the properties, as Urban American Management and City Investment Fund and the seller as Cammeby’s International, which is controlled by uber-landlord Ruby Schron. All of the properties included in the sale were recently taken out of the Mitchell-Lama program, subjecting them to market-rate rents and greatly increasing their investment value. [Therealdeal]


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    6 Comments
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    shortyoni
    shortyoni
    16 years ago

    and an other hot real estate location, yerushalaim.
    they are crying already, they cant afford a dirah anymore for their kids

    Anonymous
    Anonymous
    16 years ago

    yungerleit in lakewood,beware .
    when ever there is frum money around it gets parked in lakewood ,
    and you get sc…ed.

    Mark Levin is The Great One
    Mark Levin is The Great One
    16 years ago

    I guess the Mir is about to get some money.

    Tziku L’mitzvos Mr. Schron.

    Anonymous
    Anonymous
    16 years ago

    Nope!

    O.Gevald
    O.Gevald
    16 years ago

    Maybe was Rav Scheinberg shlit”a.

    Anonymous
    Anonymous
    16 years ago

    what a BROCHO !!! Ruby got a brocho from the Godol Hador Rav Moshe Feinstein ZT”L. Ruby was fixing over his home and found few hundred thousand dollars worth of coins and valuables. Rav Moshe told him to give back the OTZAR to a non orthodox yid that owned the house before him that had no idea about it. Rav Moshe blessed that he will have much much more.