The Steven L. Newman Real Estate Institute Welcomes Distinguished Guests for Discussion
Mr. New York: The Lew Rudin Legacy
NEW YORK, NY- April 4, 2014 – The Steven L. Newman Real Estate Institute at Baruch College and its media partner Real Estate Weekly hosted an event on March 31 to honor the late Lew Rudin, one of New York City’s greatest real estate icons. The discussion focused on Lew Rudin’s life and impact on the city, including real estate developments by his family-owned company Rudin Management Company.
Keynote speakers included former NYC Mayor David Dinkins (pictured above); Lew Rudin’s son, Bill Rudin, Vice Chairman and CEO of Rudin Management Company, Inc. and Chairman of ABNY; Jay L. Kriegel, Senior Advisor of Related Companies; and Seymour P. Lachman, former New York Senator, historian and author of the recently released book, “Mr. New York: Lew Rudin and His Love for the City.” The event was moderated by Jack Nyman, Executive Director of the Steven L. Newman Real Estate.
“Lew was one of the finest men I’ve ever known,”Mayor Dinkins said. “I’ve always looked at Lew as a brother. He was a force and guiding light to things that have become a part of New York (including) The New York City Marathon, the U.S. Open, and the ‘I love New York’ campaign. He was a true friend to our city and remained a true friend to his dying day.”
“This event is a case study profiling a man who helped save the city when it was on the brink of bankruptcy,” explained Nyman. “It provides candid and unique insight into the courageous initiatives Lew took to ensure that the city and its real estate industry not only survive, but continue to thrive as a global leader. As we are currently going through an administration change, the time is right for a renewal of action and hope to rebuild our city. The promise of tomorrow rests on this model of leadership, vision, commitment and passion, all important ingredients in building economic wealth and maintaining New York’s global competitiveness.”
(L-R) Jack Nyman, Executive Director of the Steven L. Newman Real Estate Institute; Seymour P. Lachman, former New York Senator, historian and author of, “Mr. New York: Lew Rudin and His Love for the City;” and Bill Rudin, Vice Chairman and CEO of Rudin Management Company, Inc.
Best known for his civic life, Lew Rudin raised $600 million for the city in 1975 by persuading other developers and corporate leaders to prepay property taxes, saving New York from fiscal disaster. In the 1980’s, Rudin also organized a national coalition to defeat a proposal to abolish deductions of state and local taxes from federal taxes, which he feared would cause corporations to move out of New York.
“Lew Rudin loved New York, but he also loved its leaders. He was strictly non-partisan; no matter who was elected mayor, he supported that person and the city of New York,” said Kriegel. “He had respect for all who held the office of mayor and who had held the office. His leadership and belief in civic service was instrumental in the establishment of the Association for a Better New York (ABNY). This was Lew’s club; a gathering of goodwill.”
The Rudin Management Company, founded in 1924, is a third generation real estate dynasty that has acquired more than 40 commercial and residential buildings, including two of the most technically advanced in the world, 3 Times Square and 32 Avenue of the Americas. It is ranked as one of the largest and most respected privately owned portfolios in the city. Through Lew’s son Bill’s leadership, the company also revitalized and established a high-tech center in downtown Manhattan in the 1990’s. Most recently, the company is re-developing the former site of St. Vincent’s Hospital, where a new emergency room will open this summer.
Said Bill Rudin about his father, “He would never take ‘no’ for an answer. He would always keep things moving forward.” He added that his father encouraged the film and television industries to come to New York City to film projects, which also helped create new jobs. “His legacy is important, because it’s an example of what’s going on today.”
About The Steven L. Newman Real Estate Institute:
The Steven L. Newman Real Estate Institute at Baruch College offers a wide range of educational and research opportunities to broadly address the needs of the real estate industry. The Institute is part of the Zicklin School of Business, the largest accredited collegiate school of business in the United States, and offers professional education courses and workshops to train current practitioners, as well as the next generation of real estate professionals, helping them succeed in, and contribute to, a dynamic and fast-evolving marketplace. As Executive Director of The Steven L. Newman Real Estate Institute, Jack S. Nyman leads operations, strategic planning and industry partnering; and guides professional development and continuing education programming, topical research, symposia and public events. Under his direction, the Institute has achieved national recognition as an industry provided of cutting edge programs to inform real estate asset managers on cost effective strategies for portfolio optimization. Individuals, academics, students, corporations, nonprofits, and government agencies all benefit from the programs offered by the Institute.
About Baruch College:
Baruch College is a senior college in the City University of New York (CUNY) with a total enrollment of more than 17,000 students, who represent 160 countries and speak more than 100 languages. Ranked among the top 15% of U.S. colleges and the No. 5 public regional university, Baruch College is regularly recognized as among the most ethnically diverse colleges in the country. As a public institution with a tradition of academic excellence, Baruch College offers accessibility and opportunity for students from every corner of New York City and from around the world. For more about Baruch College, go to http://www.baruch.cuny.edu/.