Four Generations, 100 Years, and 13 Million Square Feet: Michael Rudin's Family Business

The company Michael Rudin helps lead is extraordinary. It's more than 100 years old. There are dozens of countries that are younger than that. It's a family business, so personal and professional ties are inextricable. And every asset is in New York City, thus subject to all the local, global, political and economic events that have shaped and sometimes disrupted New York since 1925. That's a lot to navigate, but as Co-CEO of one of the largest privately owned real estate firms in New York, Michael Rudin seems to manage it all very, very calmly. He talked about Rudin, his family's business, with Camber Creek General Partner, Jeffrey Berman. 1:05 Rudin’s legacy and its role in shaping New York City 3:40 The real estate investment landscape has evolved from local capital to a highly competitive global market. 5:20 Rudin historically self-capitalized projects but increasingly partners with external investors. 9:45 The portfolio includes 13 million square feet and thousands of residential units. 11:00 Rudin’s integrated model of owning and managing its properties 12:00 The influence of family-owned real estate firms relative to institutional investors 13:30 The role of real estate leaders in shaping policy and maintaining New York’s economic vitality. 17:15 Rudin’s relationship with New York City leadership and evolving political dynamics 21:35 Three recent defining moments for New York City real estate 24:40 Michael reflects on the emotional and operational impact of a mass shooting at one of Rudin’s buildings 30:20 Joining the family business 34:20 Transitioning to co-CEO and the division of responsibility 38:30 Making decisions in a family-run organization. 42:30 Enlightened self-interest as a guiding principle for decision-making