William, Eric, Samantha and Michael Rudin
Co-Chairman and CEO; Co-Chairman and President; Executive Vice Presidents at Rudin Management Company
Last year's rank: 21
Rudin Management has been making its office and residential portfolio work despite a continuously difficult leasing market through a series of repositionings and management strategies in recent months that have maintained its standing as a top New York City landlord.
The company, founded in 1925 by Samuel Rudin, now owns 17 residential buildings around the city and 16 office buildings, totaling 14.2 million square feet under the stewardship of William, Eric, Samantha and Michael Rudin.
“Although the pace of leasing has slowed citywide, we’ve had strong activity in our commercial portfolio from tenants looking to trade up on their space, create better working environments for their teams, and make the return to work exciting,” William Rudin said in a statement. “We’re optimistic for what’s to come for New York City and at Rudin as Samantha and Michael take on increasing responsibility within the organization.”
The company secured the future of its new development at 40 East 52nd Street in December. Rudin did this by arranging a master lease deal with Ken Griffin’s Citadel investment house for the 390,000-square-foot office building near Park Avenue. Rudin, Griffin and Vornado plan to later combine 40 East 52nd, 350 Park Avenue and 39 East 51st Street to build a 1.7-million-square-foot office tower which will be leased to Citadel.
Rudin also hit paydirt on the $415 million repositioning of 3 Times Square, which it began in 2021 when it signed Touro College to a 32-year, 243,305-square-foot lease. The college then took an additional 66,438 square feet in March 2022. The 30-story building also hooked in other tenants in just the last few months, including a 45,673-square-foot lease with Anchin, Block & Anchin and another deal for 29,852 square feet with Remy Cointreau.
The 1.2 million-square-foot 80 Pine Street is another tower Rudin has pumped financing into to make it compatible with COVID-era tenant needs. The family firm secured a $100 Million and from Bank of America in January 2021 to renovate the property designed by Fogarty Finger Architecture, modifying floor plates to accommodate tenants looking for headquarters space rather than smaller offices.
Since the completion of the repositioning around the middle of last year, Rudin has leased about 200,000 square feet in 80 Pine.
