Published On: Tue, Oct 13th, 2015

Heirs to the Schron: Cammeby’s eyes development push as sons take more control

Now in his late 70s, Ruby is a legend in the business. Will Avi and Eli maintain his legacy?

From left Rubin, Eli and Avi Schron (credit Agudath Israel)

In January, Avi Schron did something his father Ruby never had. On behalf of Cammeby’s International, he filed plans to build a new 41-story tower in South Brooklyn, the first major solo ground-up development by the family firm in its nearly 50-year history.

When New York real estate folk talk about “old-school investors, ” they’re often picturing Rubin Schron. Starting Cammeby’s in 1967 with a handful of Bronx properties, he parlayed those modest holdings into an enviable portfolio that includes the Woolworth Building, Industry City and over 15, 000 apartments. While many of his peers moved into development, Schron, who Bloomberg estimates is worth about $1.6 billion, stuck to what he knew: measured investment plays, long-term multifamily holds and shrewd partnerships on office and industrial properties.

Read the full story at The Real Deal, by Mark Maurer

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