Property Markets Group

What Property Markets Group does

Property Markets Group (PMG) is a privately held U.S. real estate development firm founded in 1991 by Kevin Maloney and headquartered in Miami, Florida, with field offices in New York, Denver, Nashville, and Atlanta. The company develops, markets, and sells luxury branded residential condominiums (including 100-story Waldorf Astoria Hotel & Residences Miami, Waldorf Astoria Residences St. Petersburg, and Waldorf Astoria Residences Denver Cherry Creek), operates a multifamily rental platform under the Society Living brand across seven markets, and runs an affordable housing division that partners with public housing authorities on large-scale redevelopment such as the 1,800-unit Robles Park Village project in Tampa. Its product mix spans luxury for-sale condominiums priced from $2 million to $27 million per unit, recurring multifamily rental income (monthly rents of approximately $3,290–$9,384 at Society Brooklyn), branded hospitality projects including E11EVEN Hotel & Residences and Delano Residences & Hotel Miami, and affordable housing delivered through tax-credit programs.

PMG generates revenue through three core streams: one-time luxury condominium sales (e.g., over 90% of Waldorf Astoria Miami's 360 units pre-sold), recurring monthly multifamily rents under Society Living, and development fees plus tax-credit economics from affordable housing partnerships. The go-to-market motion is direct-to-consumer via dedicated on-site sales galleries, project-specific websites, and PMG Residential (the in-house brokerage founded in 2021), supplemented by immersive 3D/AI-enabled sales technology from BlueSquare X and an early-mover cryptocurrency payment structure with Shift4. Underwriting is delivered through a network of institutional capital partners including Greybrook Realty Partners, The Carlyle Group, Brookfield Asset Management, Madison Realty Capital, Siguler Guff, and GoldenTree Asset Management, with $10B+ in portfolio assets and a $7B+ development pipeline under management.

PMG's customer base spans high-net-worth individual condominium buyers (both end-users and short-term rental investors), market-rate and affordable multifamily renters, and public-sector housing authorities. Notable operational scale includes 175+ projects, 10,000+ residential units developed or in pipeline, and 18+ million square feet of development footprint concentrated across Florida, New York, Colorado, South Carolina, Tennessee, and Georgia. The company is led day-to-day by Managing Partners Ryan Shear and Dan Kaplan under founder/CEO Kevin Maloney, with operating geographies spanning the Southeast, Northeast, and Mountain West regions of the United States.

Name

Property Markets Group

Legal name

PMG IP, LLC

Website

https://propertymg.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Short description

Property Markets Group is a privately held U.S. real estate developer founded in 1991 that builds and sells luxury branded condominiums (Waldorf Astoria, E11EVEN, Delano), operates the Society Living multifamily rental brand, and develops affordable housing in partnership with public housing authorities.

Ownership category

akta.pro rank

Product category

Luxury Residential Real Estate Development

NAICS

Real Estate Property Managers (53131), Offices of Real Estate Agents and Brokers (53121), Lessors of Real Estate (5311), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112)

SIC

Real Estate (6500), Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industries

Affordable & Public Housing Asset Management (BPAJAMAI), Traditional Residential Brokerage (Existing Homes) (BPAJAAAA), Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

Keywords

• Luxury real estate development
• Residential condominium development
• Multifamily housing rentals
• Affordable housing development
• Branded residential properties

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Luxury Condominium Sales: PMG develops and sells luxury condominium units across its portfolio of branded residential projects. Revenue is generated through one-time sales of individual units at price points ranging from $2 million to $27 million. Projects include Waldorf Astoria-branded residences, E11EVEN residences, and boutique luxury developments.
2. Multifamily Rental: The Society Living brand operates multifamily rental properties across multiple U.S. markets. Revenue is generated through monthly rental payments, with rents ranging from approximately $3,290 to $9,384 per month as seen at Society Brooklyn.
3. Affordable Housing Development: PMG's Affordable Housing division develops housing projects in partnership with housing authorities, generating revenue through development fees and tax credit programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Property Markets Group is a privately-held real estate development firm that develops, markets, and sells luxury branded condominium residences, Class A multifamily rental communities under its Society Living brand, and affordable/workforce housing through public-private partnerships. The firm operates across major U.S. markets including Miami, New York City, Brooklyn, Denver, St. Petersburg, and Sarasota, and sells or leases individual residential units to end consumers while partnering with housing authorities and financial institutions on its affordable portfolio.

Product overview

Property Markets Group (PMG) is a real estate development company operating since 1991 that offers a diversified portfolio of residential and commercial properties across multiple asset classes. The company's core offerings include luxury condominium developments (such as Waldorf Astoria branded properties in Miami, St. Petersburg, and Denver), multi-family rental communities under the Society Living brand, and hospitality projects including E11EVEN Hotel & Residences. PMG's product portfolio spans from landmark supertall towers to boutique luxury residences, with offerings ranging from for-sale condominiums to luxury rentals. The company also operates supporting services including an in-house brokerage division (PMG Residential), live construction monitoring (Live Construction Cams), and a summer internship program. PMG's developments are concentrated in Florida, New York, Colorado, South Carolina, Tennessee, and Georgia markets.

Differentiator

Problem solved

Functional benefit

Brands

• Society Living: Multi-family brand pipeline featuring rental properties across Atlanta, Brooklyn, Denver, Fort Lauderdale, Miami, Orlando, and Nashville
• PMG Residential

Products and services

• Waldorf Astoria Hotel & Residences Miami A luxury branded condominium and hotel tower in downtown Miami developed in partnership with the Waldorf Astoria brand, offering for-sale residences with hotel services and amenities to high-net-worth buyers.
• Waldorf Astoria Residences St. Petersburg A luxury branded condominium project in St. Petersburg, Florida developed with the Waldorf Astoria brand, targeting affluent buyers seeking branded residences in the Tampa Bay market.
• Waldorf Astoria Residences Denver Cherry Creek A luxury branded condominium project in Denver's Cherry Creek neighborhood, developed in partnership with the Waldorf Astoria brand for affluent Denver-metro buyers.
• Sage Intracoastal Residences A luxury waterfront condominium project along the Intracoastal in the Miami market, developed by PMG for affluent buyers.
• Twenty Sixth & 2nd Wynwood Residences A luxury for-sale condominium project located in Miami's Wynwood arts district, marketed to design-conscious buyers in the Wynwood submarket.
• Society Brooklyn A Class A multifamily rental property in Brooklyn operated under PMG's Society Living brand, offering design-forward apartments and amenity programming to urban renters.
• One West Twelve Residences A luxury for-sale condominium project developed by PMG and marketed to affluent buyers.
• One Twenty Brickell Residences A luxury for-sale condominium project in Miami's Brickell financial district, targeting high-net-worth buyers in the Brickell submarket.
• One Park Sarasota A luxury for-sale condominium project in Sarasota, Florida, developed by PMG for affluent buyers in the Gulf Coast market.
• Palm Tree Residences Miami A luxury branded condominium project in Miami developed by PMG, targeting affluent buyers seeking branded residences.
• Frida Kahlo Wynwood Residences A luxury branded condominium project in Miami's Wynwood arts district developed under a Frida Kahlo brand partnership, marketed to design- and culture-conscious buyers.
• Delano Residences & Hotel Miami A luxury branded residence and hotel project in Miami developed under the Delano brand partnership, combining for-sale residences with hotel operations.
• E11EVEN Hotel & Residences A luxury branded hotel and condominium project developed by PMG under the E11EVEN brand partnership, combining hotel operations with for-sale residences.
• Society Living (Multifamily Brand) PMG's branded Class A multifamily rental platform encompassing multiple properties (e.g., Society Brooklyn), offering design-forward, amenity-rich apartments and resident programming to urban renters under a unified brand identity.
• PMG Affordable Housing Division PMG's affordable and workforce housing division, which develops regulated affordable housing projects funded primarily through Low-Income Housing Tax Credits and public financing, serving state and local housing authorities.
• PMG Residential (In-House Brokerage) PMG's in-house real estate brokerage arm that markets and sells the firm's condominium projects directly to buyers, complementing third-party broker co-op distribution.
• PMG Live Construction Cameras A live, 24/7 construction-camera service hosted on a dedicated PMG platform (pmg-live.com) that streams real-time and time-lapse footage of PMG projects under construction to prospective buyers and the public.
• Jude AI Property Search Assistant An AI-powered natural-language property search assistant that helps prospective buyers identify PMG residences matching their stated preferences across PMG's portfolio.

Quantifiable outcome

• Over 90% of Waldorf Astoria Miami's 360 units pre-sold
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

17 partnerships are on record, tiered major, core and strategic.

• Lion Development GroupmajorStrategic or Co-development Partner · 1 May 2026Development partner on Palm Tree Residences Miami, a 480-unit luxury condominium tower in downtown Miami's Park West neighborhood.
• Sterling EquitiesmajorStrategic or Co-development Partner · 1 May 2026Development partner on Palm Tree Residences Miami alongside PMG, Lion Development Group, and Eden Residential.
• Eden ResidentialmajorStrategic or Co-development Partner · 1 May 2026Development partner on Palm Tree Residences Miami, bringing hospitality lifestyle brand Palm Tree Crew into residential real estate.
• Palm Tree CrewcoreStrategic or Co-development Partner · 1 May 2026Global entertainment and hospitality brand founded by DJ and producer Kygo. First residential offering is Palm Tree Residences Miami, integrating experiential entertainment with residential living through Palm Tree Club venue and brand ecosystem.
• BlueSquare XstrategicTechnology or Integration · 1 March 2026Digital experience innovator deploying immersive technology including LED displays, AI, and 3D renderings to transform luxury property sales galleries. Partnered with PMG for Waldorf Astoria St. Petersburg project.
• Tampa Housing AuthoritymajorStrategic or Co-development Partner · 1 March 2026Lead agency on Robles Park Village redevelopment in Tampa, a 35-acre mixed-income neighborhood project with 1,800 new housing units, partnered with PMG, Urban Atelier Group, and DuCon.
• Urban Atelier GroupmajorStrategic or Co-development Partner · 1 March 2026Construction partner on Tampa's Robles Park Village redevelopment alongside PMG, Tampa Housing Authority, and DuCon.
• DuConmajorStrategic or Co-development Partner · 1 March 2026Development partner on Robles Park Village redevelopment, a 35-acre major initiative to transform the historic community into mixed-income neighborhood.
• Shift4strategicTechnology or Integration · 1 May 2025Publicly traded payment processing company exclusively handling cryptocurrency transactions for PMG's luxury condominium projects, converting digital currency to USD for escrow.
• Feldman EquitiesmajorStrategic or Co-development Partner · 1 January 2024St. Petersburg-based co-developer on Waldorf Astoria Residences St. Petersburg, owners of the adjacent City Center office building and joint venture partners with PMG.
• Mohari HospitalitymajorStrategic or Co-development Partner · 1 January 2021Hospitality partner on Waldorf Astoria Hotel & Residences Miami, bringing hotel operations expertise to the mixed-use hotel and residential tower.
• S2 DevelopmentmajorStrategic or Co-development Partner · 1 January 2021Co-developer on Waldorf Astoria Hotel & Residences Miami, contributing to the development team alongside PMG, Greybrook, and Mohari.
• HiltonmajorStrategic or Co-development Partner · 1 January 2021Hotel operator for Waldorf Astoria Hotel & Residences Miami, providing the Waldorf Astoria brand and operational management for the hotel component.
• Carlos OttmajorStrategic or Co-development PartnerWorld-renowned architect behind many PMG signature projects including Waldorf Astoria Hotel & Residences Miami and Sage Beach. Known for iconic architectural designs.
• Sieger SuarezmajorStrategic or Co-development PartnerArchitectural firm partner on Waldorf Astoria Hotel & Residences Miami and other PMG projects.
• CUBE 3majorStrategic or Co-development PartnerArchitectural firm for Waldorf Astoria Residences St. Petersburg, replacing original architect SLCE Architects in a major redesign. Also involved in Frida Kahlo Wynwood Residences.
• BAMOmajorStrategic or Co-development PartnerAward-winning interior design firm for Waldorf Astoria Residences Miami and St. Petersburg, providing tailored interior design details.

Scale indicators18 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• The Related Group: Florida's largest luxury condominium developer with deep Miami/South Florida presence. Closest direct competitor in branded luxury condo product (also partnering with hospitality brands) and competes head-to-head with PMG on Wynwood, Brickell, and Miami Beach projects.
• Swire Properties: Developer of luxury branded residential (Brickell City Centre, Reach and Rise) in Miami and global supertall residential. Directly comparable on branded luxury condo product, urban infill sites, and luxury HNWI buyer targeting.
• JDS Development Group: NYC-based luxury supertall developer (111 West 57th Street with PMG; Starrett-Lehigh; 9 DeKalb). Comparable on trophy supertall/branded residential product and high-end Manhattan luxury condo positioning.
• Naftali Group: NYC luxury residential developer with branded and ultra-luxury condo product (The Benson, 200 East 83rd, The Astor). Comparable on luxury condo pricing, Manhattan focus, and trophy development model.
• Two Roads Development: Miami-focused luxury condo developer (Residences at 1428 Brickell, Una Residences, Five Park). Direct competitor on luxury branded condo product in South Florida, sharing the same Miami buyer pool.
• Aria Development Group: Miami luxury condo developer (Aria On The Bay, Aria Reserve). Comparable on Miami luxury condo product, waterfront/luxury positioning, and similar unit pricing tiers.
• Witkoff Group: Luxury residential and hospitality developer (The Ritz-Carlton Residences Miami Beach, Monad Terrace, 100 Museum Miami). Comparable on luxury branded condo strategy across Miami/NY and trophy-site acquisition capability.
• Fortis Property Group: NYC luxury condo developer with branded residential product (111 West 57th Street co-developer with PMG, 100 Vandam). Comparable on supertall NYC luxury and JV partnership model.

Broad incumbents

• Related Companies: Large diversified real estate firm (affordable to luxury, Hudson Yards). Broader incumbent with overlapping luxury residential capabilities but spanning a much wider portfolio including commercial, mixed-use, and affordable housing at massive scale.
• Starwood Capital Group: Global real estate investment and development firm with multifamily, hospitality, and luxury residential exposure. Overlaps with PMG on multifamily rental (Society Living competitive set) and branded hospitality-residential product.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@pmgdevelopment
• Facebookfacebook.com/PMGdevelopment
• Instagraminstagram.com/pmgdevelopment
• Xx.com/pmgliving

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds3 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Property Markets Group