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Who is Rubin Schron?

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Rubin Schron may be the second-largest landlord in the Northeast.
The Briar Wyck apartments are located on the VanWyck Expressway in Jamaica, Queens.

The man behind a massive collection of buildings throughout New York City and an estimated 15,000 units remains unknown by many.

Rubin Schron, who has assembled a fortune of $1.6 billion, has not appeared on any publicized wealth rankings nor named any of his buildings after himself, however the 77-year-old president of Cammeby’s International is one of the city’s major property owners. His properties include the Pueblo Nuevo, a Lower East Side building inhabited by residents who received rent assistance from the government. Also, among his properties are various apartment complexes, and nursing homes.

Schron owns the Briar Wyck apartments in Jamaica, New York, which lay by the Van Wyck Expressway, a 12-lane stretch of highway where 113,000 vehicles drive past the seven-story building every day. The rear apartments overlook six lanes of Queens Boulevard. A 10-by-20 foot cement patio with three benches surrounded by a chain-link fence and barbed wire sits outside the back door. A 45-minute subway ride from Manhattan, only one of Briar Wyck’s 201 units is vacant. In addition to the Briar Wyck, Schron owns dozens of similar buildings in New York’s outer boroughs.

According to data compiled by Bloomberg, the billionaire, through his Cammeby’s Realty Corp., also owns 5 million square feet of office space in New York and Connecticut, and 186 nursing homes in 22 states. Schron has a financial interest in property that has a market value of more than $10 billion, based on data compiled by Real Capital Analytics, a real estate data and analytics company.

In 2013, Schron made a $2 billion offer on the Empire State Building and owns a 40 percent stake in the Woolworth Building. In April 2013, for $250 million, Schron bought the Monterey, a 521-unit rental multi-family building in Manhattan’s Upper East Side.

According to Bloomberg News, Schron could be the second-largest landlord in the Northeast, second only to the LeFrak Organization, which owns the 5,000-unit LeFrak City complex in Queens, as well as multiple other properties.

An Orthodox Jew with eight children, Schron is sometimes addressed in almost reverential terms. One rabbi, writing online, related a story of how a young Schron found a box of diamonds in a house he bought for his family and returned it to the seller even though legally he had a right to keep the gems, which were worth about $40,000.

“He always does what he says, so he is a little bit old school,” said Harmon, who brokered Schron’s $250 million purchase of the Monterey last year. “He’s not a high-levered guy. He’s a straight-forward, block-and-tackle type investor, and very substantial. Whenever I deal with him — and I have dealt with him for many years — it’s always a pleasure.”

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