Billionaire Reubens bet big on Manhattan’s battered real estate

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Simon and David Reuben have been gobbling up Manhattan property, ramping up their bet on a real estate market that has taken a hit during the pandemic.

The billionaire brothers, well-known real estate investors based in Britain, have spent nearly $2.5 billion on U.S. acquisitions and financing deals this year, according to people familiar with the matter.

That includes office, retail and hotel properties in Manhattan, where investment has plummeted as social distancing keeps office workers and tourists at home. The brothers, worth more than $12 billion combined, bought a Fifth Avenue retail condo unit as well as the five-star Surrey Hotel on the Upper East Side.



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