Donald zucker organization

New York City has a long, storied tradition of families shaping its skyline. Family-run businesses like the LeFrak Organization, Tishman Speyer, Rudin Management and the Durst Organization are local legends, known for taking on major development projects and holding on to some of the city’s largest assets across three or more generations.

It’s not an easy time, however, for the family dynasties on the rise.

A field once dominated by those well-established families is now increasingly crowded with other sophisticated players.

Over the last several years, well-polished corporate machines have taken over the city in the form of real estate investment trusts and other large companies.

Some real estate owners think investors eager to enter the market are less discerning about who they lend to — no longer relying on what family-run companies often tout as their greatest asset: reputation.

“It seems like people out there are like Teflon,” said Justin Elgha