Crescent Heights

What Crescent Heights does

Crescent Heights is a privately held, vertically integrated urban real estate developer founded in 1986 and headquartered in Miami, Florida. The company develops, owns, and self-manages architecturally distinctive luxury high-rise residential and mixed-use properties concentrated in major US gateway cities including Miami, Chicago, San Francisco, Los Angeles, Seattle, Boston, and New York. Crescent Heights serves affluent urban professionals and families through branded property lines such as NEMA (lifestyle apartments in Chicago, San Francisco, and Boston), Ten Thousand (Beverly Hills/Century City), and Forma Miami (Edgewater), alongside standalone luxury developments like 11th & Olive, Jasper, Palladium Residences, 524 Howard, 10 South Van Ness, 640 W. Washington, and the planned 4th & Columbia tower in Seattle. The stabilized portfolio comprises more than 4,600 residential units across these assets, with additional for-sale condominium product including Ten Thousand and the newly launched 14 Roc project in downtown Miami.

Revenue is generated through three primary streams: recurring monthly residential rental income from self-managed luxury properties (Forma Miami is 97% leased), recurring commercial/retail tenant income from curated ground-floor and anchor tenants (Whole Foods Market at Forma Miami, a 35,000-square-foot Equinox at Brickell Heights), and one-time condominium sales from for-sale developments. Crescent Heights deploys proprietary resident-facing technology including a predictive service app with beacon-based personalization, the CHARLEY butler-robot (an early residential deployment), smart-home automation with keyless entry and smart thermostats, and gigabit internet infrastructure. The firm is operationally distinguished by vertical integration spanning acquisition, entitlements, architecture, development, asset management, and self-management, with deep, multi-decade capital relationships across Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan, HSBC, Blackstone, Citi, UBS, Deutsche Bank, Barclays, Wells Fargo, and Bank of China.

Name

Crescent Heights

Legal name

Crescent Heights IP, LLC

Website

https://crescentheights.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

251–500 employees

Short description

Crescent Heights is a privately held, vertically integrated urban real estate developer that designs, builds, owns, and self-manages architecturally distinctive luxury high-rise residential and mixed-use properties across major US gateway cities, serving affluent urban professionals, families, and institutional tenants.

Ownership category

akta.pro rank

Product category

Luxury Urban Real Estate Development

NAICS

Lessors of Residential Buildings and Dwellings (53111), Real Estate and Rental and Leasing (53), Rental and Leasing Services (532)

SIC

Real Estate Operators (No Developers) & Lessors (6510), Real Estate (6500), Operative Builders (1531)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industries

Premium Condos, Penthouses & High-End Apartments (THAMAEAC), Luxury Serviced Residences (THAGAEAJ)

Keywords

• Luxury real estate development
• Mixed-use high-rises
• Multifamily residential properties
• Urban rental residences
• Condominium development

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Rental Income: Primary revenue stream from leasing luxury rental residences across their portfolio of high-rise properties in major US cities. Properties include NEMA Chicago (800 residences), NEMA San Francisco (754 residences), Ten Thousand (283 residences), and numerous others. Self-managed with in-house property management teams.
2. Commercial/Retail Tenant Income: Revenue from retail and commercial tenants within mixed-use properties. Examples include Whole Foods Market at Forma Miami, Equinox fitness center at Brickell Heights (35,000 sq ft), and various other retail spaces totaling tens of thousands of square feet across the portfolio.
3. Condominium Sales: Some properties are developed as condominiums for sale, such as Ten Thousand (sold briskly setting record per-square-foot prices in Los Angeles), The Remington (93 residences sold), and various other condo developments in the portfolio.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Crescent Heights develops, owns, and operates architecturally distinctive luxury mixed-use high-rise residential properties in major US gateway cities. Revenue is generated primarily through recurring monthly rental of luxury apartment residences, supplemented by condominium unit sales and ground-floor retail/commercial tenant leases, with the company self-managing all properties through in-house teams and a proprietary technology platform.

Product overview

Crescent Heights operates as America's premier urban real estate developer specializing in architecturally distinctive mixed-use high-rise residential properties across major U.S. cities. The company's portfolio consists of multiple branded residential product lines: the NEMA lifestyle apartment brand spanning Chicago, San Francisco, and Boston; the luxury Ten Thousand brand in Los Angeles; the Forma Miami wellness-focused residence; and various standalone residential towers including 11th & Olive, 10 South Van Ness, 4th & Columbia, Jasper, Palladium Residences, 524 Howard, and 640 W. Washington. Properties share unifying elements including artful design, world-class architecture, thoughtful lifestyle programming, technological optimization, and white-glove services, while each project is tailored to reflect local culture and environment. Crescent Heights maintains vertical integration across acquisition, entitlements, architecture, development, asset management, and operations.

Differentiator

Problem solved

Functional benefit

Brands

• NEMA: Multi-city lifestyle apartment brand featuring thoughtful design, extensive amenity collections, and personalized tech-powered service. Properties include NEMA Chicago, NEMA San Francisco, and NEMA Boston.
• Forma
• Ten Thousand
• Crescent Heights Retail

Products and services

• NEMA Chicago

Quantifiable outcome

• 97% leased for Forma Miami tower
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core.

• Rafael Viñoly ArchitectscoreStrategic or Co-development PartnerStrategic collaboration for NEMA Chicago (76-story tower) and 1370 NE 2nd Ave (43-story serpentine tower). Described as world-renowned architect with whom Crescent Heights works closely on iconic projects.
• KPF (Kohn Pedersen Fox)coreStrategic or Co-development PartnerHighly acclaimed architectural firm in strategic collaboration with Crescent Heights for award-winning buildings.
• ODAcoreStrategic or Co-development PartnerArchitectural firm led by Eran Chen working on 11th & Olive project in downtown Los Angeles.
• GenslercoreStrategic or Co-development PartnerGlobal architecture firm collaborating on 1901 Minor project in Seattle's Denny Triangle.
• ArquitectonicacoreStrategic or Co-development PartnerSignature architecture by Arquitectonica for Forma Miami property in Edgewater.
• Stanley SaitowitzcoreStrategic or Co-development PartnerAward-winning architect designing Jasper (San Francisco) and Palladium Residences (Los Angeles).
• Handel ArchitectscoreStrategic or Co-development PartnerArchitecture firm for Ten Thousand (Los Angeles), 524 Howard (San Francisco), and other properties.
• David RockwellcoreStrategic or Co-development PartnerDistinguished designer bringing talent and vision to interiors of Crescent Heights buildings including Forma Miami and NEMA Chicago.
• Rockwell GroupcoreStrategic or Co-development PartnerInterior design by Rockwell Group for Forma Miami and Brickell Heights projects.
• Shamir Shah DesigncoreStrategic or Co-development PartnerInterior designer for Ten Thousand and Hanley New York projects, bringing refined aesthetic sensibility.
• Whole Foods MarketcoreChannel Partner/ Reseller/ DistributorAnchor tenant at Forma Miami property, bringing wellness-focused convenience and grocery retail to the residential community. Located within the building.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• AvalonBay Communities: Large public multifamily REIT with urban and suburban Class A properties in coastal US markets. Comparable high-end multifamily operations at scale but broader and less luxury-specialized.
• Equity Residential: Public REIT focused on urban/high-density Class A multifamily in gateway US cities (NYC, SF, Boston, LA, DC). Comparable urban luxury positioning but operates as a public REIT rather than private developer.
• Essex Property Trust: West Coast-focused multifamily REIT with concentrated exposure to California (LA, SF, Seattle). Geographic overlap with Crescent Heights' California portfolio and comparable urban Class A positioning.
• Lincoln Property Company: Major US multifamily developer and third-party manager. Comparable scale and integrated development/management model, though less luxury-specialized than Crescent Heights.
• Greystar Real Estate Partners: Largest US multifamily operator/developer (~800K+ units managed). Comparable operating model and third-party property management capabilities, though broader and less luxury-focused than Crescent Heights.

Direct peers

• The Durst Organization: Family-owned NYC luxury high-rise developer (One57, Bjarke Ingels-designed towers). Comparable scale, vertical integration, and luxury multifamily focus in supply-constrained gateway markets.
• Tishman Speyer: Global real estate developer and owner-operator with significant luxury high-rise residential exposure (e.g., The Spiral, MoMA Tower). Closely matches Crescent Heights' vertical integration model and gateway-city focus.
• Mill Creek Residential: Privately-held multifamily developer focused on Class A urban and suburban rental communities in major US markets. Comparable scale, integrated development/management, and gateway-city focus.
• The Related Companies: Major privately-held luxury mixed-use high-rise developer in NYC and gateway US cities (Hudson Yards, Time Warner Center). Directly comparable as a vertically-integrated developer of architecturally-distinctive luxury residential towers.

Others

• JLL (Jones Lang LaSalle): Global real estate services firm providing investment sales, capital markets, and property management. Adjacent service provider and lender counterparty rather than direct competitor, but operates in the same luxury urban real estate ecosystem.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/crescent_hgts
• Facebookfacebook.com/chInspired
• Instagraminstagram.com/crescentheights
• LinkedInlinkedin.com/company/crescent-heights

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds2 records

Investors2 records

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

M&A

Investments1 record

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

Frequently asked questions about Crescent Heights