Run by Richard Ruben, seems like a very small team. Historically have done development, seem to have partnered with Related on a few things.
A recruiter reached out about an associate opportunity there. The information online about them is fairly thin, was curious if anyone has direct knowledge of them.
Also, I know this is most likely a shot in the dark but any ideas around comp? The recruiter stated it was a broad range dependent upon experience.
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Ruben mostly develops office/mixed use in NYC and multifamily in DC, specifically the Capitol Riverfront neighborhood. Don't know much about their NYC portfolio or culture, but can speak to their DC portfolio since that's my submarket.
In Capitol Riverfront, they partnered with Related to build One Hill South and 10K, both of which have done pretty well- these buildings get some of the most rent psf in this submarket. Ruben is also sitting on a couple decent sized parcels just west of Capitol Riverfront since the early 2000s that they plan on developing in the next couple of years. It seems that Ruben is the more local partner and deals with the city/entitlements more than Related.
Do you know if either of these guys have boots on the ground here in DC? Always curious how developers pull of deals in other markets.
I don't think they have a DC office. My best guess is they hired someone who had previously worked in the DC market. Also, if you hire experienced local land use attorneys, environmental consultants, transportation consultants etc. that really know DC, you become more informed about entitlement risk and how to manage it.
Generally, guys from NYC that develop down here overpay for land (although not the case here since they held onto it for 15-20 years), and spend more $ on consultants.
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