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Property Markets Group

5 East 17th Street
New York, NY 10003
(212) 610-2800
Website

Property Markets Group is a real estate development and acquisition firm founded in 1991. The group, run by Kevin Maloney, has more than $3 billion in real estate assets under management, including residential, hotel, commercial, and resorts. About three-quarters of the firms work in the New York City area, with the remaining projects in Florida and Chicago. For years Property Markets had been a long-time partner with JD Development Group, collaborated together on the record-setting Walker Tower (which Property Markets purchased in 2010), 202 8th Street in Gowanus (where Property Markets has had a burgeoning interest), and the rental building at 50 North First Street. However, in 2014 the firms took a break from each other due to personality divergences between Maloney and JDS owner Michael Stern, as well as organizational differences between the firms. Property Markets also has taken an interest in Long Island City, building a rental tower in Queens Plaza.

  • Event Financing
  • Address 111 Leroy Street
  • Neighborhood West Village
  • Borough Manhattan
  • Price $ 42,800,000
  • Publication Date 08/01/2016
  • Event Date 06/17/2016
  • Party 1 Property Markets Group
  • Party 2 Oaktree Capital Management
notes
The company secured a $42.8 million loan.
  • Event Retail Leasing
  • Address 548 West 22nd Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 38,000
notes
The international art gallery signed a lease.
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12E
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,725,934
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10F
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 4,582,125
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 16B
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 2,540,534
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10H
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 729,067
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12B
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 840,056
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 16E
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 2,087,413
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12D
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,344,090
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 14B
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 4,073,000
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 15G
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,807,394
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12G
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 3,665,700
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10E
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 2,851,100
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 14A
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 2,240,150
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12F
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,588,470
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12J
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,303,360
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12K
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,578,288
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 12A
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 3,767,525
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10J
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,181,170
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 16A
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 5,905,850
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 14E
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 5,345,813
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10B
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,934,675
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10G
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 4,429,388
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 10D
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 1,934,675
  • Event Residential Sales
  • Building Name Stella Tower
  • Address 425 West 50th Street
  • Unit 14G
  • Neighborhood Clinton
  • Borough Manhattan
  • Price $ 2,418,344
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Set to be tallest tower in New York outside Manhattan at 915 feet...
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This five-story Soho building dating from 1910 contains 16 residential units and a...

10/01/2017
On Billionaires’ Row, JDS Development Group and Property Markets Group have been battling with lenders at their planned supertall condo at 111 West 57th Street, which is facing cost overruns...

12/20/2016
According to brokers in the building, the unit wasn’t even listed for sale when the mystery buyer â€' identified as Walker Tower 1-8 LLC â€' came out of the woodwork, paying $6,678 per square foot for the pad. Welch paid just over $6,044 per foot for the five-bedroom condo, which has 360-degree views and three wood-burning fireplaces. The 47-unit tower served as an office for Verizon before JDS Development Group and Property Markets Group converted it to high-end condos...

12/31/2015
The apartment at 550 Madison Avenue is set to take the cake as the most expensive listing in New York City (and its biggest, at 21,000 square feet.) And other developers followed suit: The Zeckendorf brothers are asking $130 million for a triplex penthouse at 520 Park Avenue, JDS Development Group and Property Markets Group are reportedly going to launch $100 million-plus penthouses at 111 West 57th Street, and even Ben Shaoul’s Magnum Real Estate Group is mulling a seven-figure ask at his redevelopment of the Verizon building at 140 West Street...

12/24/2015
Half of the 10 largest permit applications â€' by square footage â€' for new developments in the city were for projects in the outer boroughs. Emerging major real estate playgrounds, like Long Island City and the Bronx, topped the list, falling not too far behind the biggest development proposed this year: SL Green Realty's One Vanderbilt in Midtown East. Property Markets Group and the Hakim Organization's 40 Riverside Boulevard in Long Island City is slated to be the tallest tower in the city outside of Manhattan. The project will span more than 800,000 square feet...

09/01/2015
As of press time, it was also slated to be the tallest residential tower in the city at 1,494 feet, excluding its spire, followed by JDS Development and Property Markets Group’s 111 West 57th Street at 1,431 feet...

09/01/2015
Meanwhile, BRP Companies landed the No. 3 slot on TRD’s list with 1.27 million square feet under development, at two projects with 580 units. The rest of the top five includes Property Markets Group, with 1.12 million square feet under development, and the Wolkoff Group, with just over 1 million square feet at its 5Pointz project, which will include more than 1,100 units...

07/07/2015
It was Queens’ biggest month for filings since March, when Kevin Maloney’s Property Markets Group submitted a 930-unit plan for 29-37 41st Avenue...

07/01/2015
This spring, Graves listed three units on the 18th and 19th floors of Walker Tower in Chelsea that were together asking $60 million. The units are owned by developers Elliott Joseph and Kevin Maloney of Property Markets Group, who converted the building into condos with Michael Stern’s JDS Development Group...

06/01/2015
Extell’s Nordstrom Tower at 225 West 57th Street and JDS Development and Property Markets Group’s 111 West 57th Street, the tallest and second-tallest planned towers in the city, don’t appear to have construction loans in place yet...

05/01/2015
Barry Sternlicht’s Starwood Capital, which invested $134.4 million in New York real estate last year and just raised $5.6 billion for a new fund, is among those branching out. The fund has partnered with Michael Stern’s JDS Development and Kevin Maloney’s Property Markets Group on a number of luxury developments...

04/01/2015
(Credit: Noah McDonough) They’ve brokered billions of dollars in deals, broken records, and launched companies. And they’ve all done it all in a cutthroat and (Credit: Noah McDonough) They’ve brokered billions of dollars in deals, broken records, and launched companies. And they’ve all done it all in a cutthroat and...

01/02/2015
The priciest closed sale of the year was hedge-funder Israel Englander’s (left) purchase of the former French Ambassador’s residence at 740 Park Avenue for The priciest closed sale of the year was hedge-funder Israel Englander’s (left) purchase of the former French Ambassador’s residence at 740 Park Avenue for...

11/01/2014
From left: Kelly Kennedy Mack of Corcoran Sunshine, Nancy Packes of Nancy Packes Inc., Roy Kim of Urban Compass and Shlomi Reuveni of Town From left: Kelly Kennedy Mack of Corcoran Sunshine, Nancy Packes of Nancy Packes Inc., Roy Kim of Urban Compass and Shlomi Reuveni of Town...

07/01/2014
In addition to 220 Central Park South, One57 and 432 Park, there’s 111 West 57th Street, the super-skinny tower being planned by JDS Development and Property Markets Group...

01/01/2014
Still, that record may not hold up for long. There are units in contract at buildings like Walker Tower, the former Verizon tower at 212 West 18th Street â€' which was converted to luxury condos by JDS Development and Property Markets Group â€' and the much ballyhooed Herzog & de Meuronâ€'designed 56 Leonard Street for more than $50 million and $47 million apiece, respectively, according to news reports...
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