Reuben Brothers’ Principal “makes crafting an empire look like child’s play”

The Reuben Brothers family-run firm is no stranger to private equity property investment and development in the UK. Now, following a string of multimillion-dollar purchases in the US, the British businessmen are building an impressive global empire of real estate.

Co-founded in 2002 by the self-made billionaire brothers David and Simon Reuben, Reuben Brothers has significant investments in a range of hospitality properties including hotels, pubs, and racecourses, as well as key investments in energy, shipping, and mining.

The member of the family reportedly spearheading the move towards real estate development in the US (including key US cities like New York and Miami) and Puerto Rico is the 37-year-old son of David Reuben, Jamie Reuben.

A British businessman and investor who was has been working for the firm for over a decade, Jamie is “plotting New York’s next social revolution”, according to the Observer.

By taking advantage of the luxury hospitality market following the COVID-19 pandemic, Jamie Reuben has snapped up various US hospitality properties on behalf of the Reuben Brothers firm, including several New York hotspots.

Having worked for the family firm since he was appointed as a non-executive at the lender in October 2011, Jamie Reuben’s recent success in this area “makes crafting an empire look like child’s play”, as reported by the Observer.

In October 2024, Jamie Reuben looked to South Florida for new US hospitality real estate opportunities and found the 5-star W South Beach hotel. This led to the year’s largest hospitality deal in the region, costing the company $425 million.

This deal comes after the Reuben Brothers purchased a four-storey landmarked building in the world-renowned South Florida town of Palm Beach for $42 million in April 2022, according to Palm Beach Daily News.

Set to open in the first quarter of 2025 as the complete renovation and construction work comes to an end, the Vineta Hotel will make its debut as a 41-room luxury hotel with restaurant, nightclub, and pool space.

On top of these significant South Florida purchases, the Reuben brothers have disclosed seven New York City investments since 2020, as reported by Bloomberg. Of these investments, a 39,000 square-foot building on 16 East 16th Street (in the Flatiron District of New York) is included.

The Observer adds that this building, located just off Union Square, is set to become home to the American branch of London Mayfair’s, The Twenty Two. With an opening date in December 2024 (this has since been adjusted to early 2025), the property will be unveiled by Jamie Reuben in partnership with hotelier Navid Mirtorabi and real estate specialist Michael Chetrit.

Speaking to The Observer regarding the development of the hotel-restaurant-and-members-club hybrid, Mirtorabi said: “To build a social hub for the creative and the curious has been our slogan from day one,” while Chetrit added: “The Twenty Two will set a new standard in New York hospitality.”

In addition to their New York and Miami hospitality real estate developments, the Reuben Brothers have also filed a masterplan for a $2.6 billion development of an oceanfront luxury resort in Puerto Rico.

Speaking of the development, known as Esencia, Jamie Reuben said: “Puerto Rico, and its west coast specifically, is a beautiful and vibrant place and one of the most promising growth markets in the world.”

“We saw an opportunity to make a transformative investment while creating thousands of jobs,” the firm’s principal said in an emailed statement.