Humble beginnings

Today Rudin Management is a family controlled NYC real estate powerhouse worth billions. But the family legend starts with Louis Rudinsky and his grocery store- fruit stand in the lower east side. The story goes that JP Morgan would sometimes stop by to get fruit on his way to Wall Street, and that inspired Louis to think big. One of his first purchases was a property on East 54th St, in a location that was considered undesirable at the time, because he heard that JP Morgan also owned property nearby. He told his sons to never sell a property and to stay local, and over the course of generations they added to their portfolio. Early purchases were torn down and became office towers.

That property on E 54th St was later combined with other parcels, and became part of 136 E 55th and 641 Lexington across from the iconic Citi building. Here is 641 Lexington Ave with 136 E 55th St adjacent to the left.

The family would later be heralded as champions of NYC, coming to its aid during its darkest times in the 1970s, and in general advancing the global image of the city which in time helped lift real estate values.

641-lexington-ave

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