NexGen Leader: David Ruttenberg

Marc Realty Residential Partner Principal David Ruttenberg
Photo credit: Courtesy of David Ruttenberg
Marc Realty Residential Principal David Ruttenberg

David is part of Bisnow's Ascent community of up-and-coming commercial real estate leaders. The top developers and investors under the age of 40 descend on the Ritz Carlton in South Beach Nov. 2-4. See who's attending and apply to be considered for one of the few remaining spots here.

Job title: Partner, Marc Realty Residential.
What that means: Principal, acquisitions and finance (With the occasional peacocking, above)
What your company does: Invest in opportunistic and value-add real estate.
Memorable project: 2300 S Michigan. With no outside partners, we bought the 94-unit property for $18M all-in (converting condos to apartments) from Starwood and sold for $25M. It’s one of very few deals we’ve sold; we mostly buy, stabilize, and finance. But it’s good to sometimes sell and solidify the values of our other assets.
Hometown: Highland Park.
School: Tufts for undergrad, the London School of Economics for a Master’s in real estate economics and finance.
First job: Taught tennis in high school at North Shore Racquet Club.
First CRE job: Worked for six months for a small developer, then started a fund in ’06 with Danny Sobelman (currently at Barnett Capital). We raised $4.25M from friends and family and got everyone’s capital back with a small return. It was a pretty big accomplishment given we were investing at the peak in ’06 and ’07.
Job in another life: Pro golfer. You can travel the world, hang out in warm climates with nice scenery, and get paid a lot of money for not doing any work. (Editor’s note: David doesn’t even golf.)
Greatest fear: A rapid increase in interest rates without a corresponding increase in real estate fundamentals. Also being asked a question I can’t answer.

Person (living or dead) to meet: My wife’s grandfather Solomon Blum, whom we named our son after. He was a Holocaust survivor who started from nothing and became a prominent real estate investor in Kansas City thanks to hard work, savviness, and intelligence.

Daily habit: Showering.
Favorite musician: Michael Bublé.
Favorite book: The Economist.
Favorite movie: Billy Madison.
Favorite vacations: Costa Rica, Lake Como, Capetown. 
Favorite restaurant: Tocco in Wicker Park.
Bucket list: Go to the French Open and Wimbledon.
Family facts: Wife Jessica, three-year-old Sol, and one-year-old Sasha. The kids were born on Sept. 18 and 20, respectively, and just had a joint birthday party.
Domestic chore you’re good at: Making reservations. Sometimes I Windex the table.
Hobbies: Tennis (he was the team captain at Tufts), working out, staying active.
Startling fact: I’ve never read a book cover-to-cover.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI

America's War Machine Is Growing, Sparking A Defense Real Estate Boom

Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers

CBRE Posts 16% Revenue Growth In Q2 As Data Center Business Shines

How Metropolis Is Bringing Parking Into The Future With AI And Recognition Technology

While Chicago Development Stalls, Fulton Market Keeps Building