In City Real Estate, Old Clans Are Shrewd Again

At the height of the boom, the Dursts, the Rudins, the Roses, the LeFraks and other members of New York’s royal real estate families were treated like slow-moving dinosaurs on the verge of extinction. Although they had spent more than five decades carving their names into the New York skyline, the families were outbid and sometimes outmaneuvered by the newer, flashier speculators and investors who swaggered down Manhattan streets buying one skyscraper after another at record-setting prices. But now that some of the record-breakers are desperately trying to fend off lenders or teetering at the edge of bankruptcy, these families are looking like wise veterans.

Most Popular Articles

UWM announces 1.99% rate for 30-year fixed mortgage

United Wholesale Mortgage announced Tuesday it is rolling out a new loan program that offers borrowers an interest rate as low as 1.99% for both purchase mortgages and refinances.

Aug 11, 2020 By

Latest Articles

Fed’s Rosengren slams U.S. pandemic response

Federal Reserve Bank of Boston President Eric Rosengren slammed the U.S. response to the COVID-19 pandemic, saying “inconsistent efforts” among states have caused the chance of a quick economic recovery to “fade.”

Aug 12, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please