Keith Rubenstein
Founder and Managing Partner at Somerset Partners
Where is Somerset going to be in 2026?
In 2026, Somerset will be a leader in luxury real estate, with a strong presence in the South Bronx and a global portfolio.
Where is Somerset going to be in 2028?
By 2028, Somerset will have completed the transformation of the Nevele Hotel [near Ellenville in upstate New York] into a world-class luxury wellness resort with residences, setting new industry standards.
Where is Somerset going to be in 2033?
In 2033, we envision Somerset as a sustainable and innovative real estate developer, contributing to the growth and well-being of communities.
Tell us about a successful financing you’ve done in the last 12 months. Or tell us about an unsuccessful one.
We’ve successfully secured financing for our Nevele Hotel redevelopment project in the past year, reflecting investor confidence.
When will we know the market has stabilized? (Be specific!)
Market stabilization will likely be evident when occupancy rates and rental prices show consistent growth for at least two consecutive quarters.
How do you think the 2024 presidential campaign will impact the commercial real estate market?
The 2024 presidential campaign may introduce policies impacting taxation and regulations that could influence commercial real estate dynamics.
If you were to invest your own money in someone else’s real estate, who do you like and why?
If investing externally, I’d favor developers with a strong track record of sustainable and community-focused projects.
What business advice are you most tired of hearing?
I’m tired of hearing generic business advice. I value insights tailored to specific challenges.
What’s the biggest market opportunity as we round out 2023?
The biggest market opportunity in 2023 lies in adaptive reuse and mixed-use developments in emerging neighborhoods.
Have you had a lot of staff turnover?
We’ve maintained a stable and committed staff.
Who do you like for POTUS in 2024? No preference.
Do you feel personally safe moving through NYC? I feel personally safe.
Jerome Powell: Are you a fan or critic? Jerome Powell is a competent leader.
Can’t-live-without technology now? Advanced data analytics.
Elon Musk is …? Innovative.
Taylor Swift or Beyonce? Taylor Swift.
Artificial intelligence — good or bad? Good.
Mischa’s or Nathan’s for a hot dog? Nathan’s for a hot dog.
Netflix or Hulu? Netflix.
What character are you in “Succession”? Logan Roy.
