What MAG Partners does

MAG Partners is a woman-owned, WBE-certified urban real estate development company founded in 2018 by MaryAnne Gilmartin, the former President and CEO of Forest City Ratner Companies. Headquartered in New York City, the firm develops mixed-income residential, mixed-use, and large-scale masterplan projects in major U.S. urban markets, with active operations in New York City and Baltimore. Its portfolio comprises five core developments: 122 Varick (a 149-unit ground-up residential tower in Hudson Square structured as a Trinity Church ground lease under the 485x program), Ruby at 243 West 28th Street (a 480-unit mixed-income multifamily project in Chelsea designed by COOKFOX that reached 98% occupancy in Summer 2024), Mabel at 335 Eighth Avenue (a 190-unit mixed-income multifamily project in Chelsea developed with MetLife Investment Management and Safanad, anchored by a Lidl grocery), Anagram Turtle Bay at 300 East 50th Street (a 194-unit mixed-income multifamily project in Midtown East), and the 235-acre Baltimore Peninsula waterfront masterplan. Across its leadership's career, the team has designed, built, and operated over 7 million square feet of office, residential, and mixed-use projects totaling more than $4.5 billion, and the current New York development pipeline stands at approximately $1 billion. Projects typically include a 30% affordable housing component under programs such as Affordable NY and 485x, and the Mabel development has achieved LEED Gold certification and Passive House building standards.

The firm's core competencies are in ground-up construction, adaptive reuse, mixed-use masterplanning, and public-private partnership execution, with particular expertise in navigating NYC's Uniform Land Use Review Procedure (ULURP) and NY State's General Project Plan (GPP) processes. It maintains an in-house government affairs and lobbying capability, and its architectural and construction partners include COOKFOX Architects, BKSK Architects, and Urban Atelier Group. The team has direct experience with iconic NYC assets such as Barclays Center, the New York Times Building, New York by Gehry, and Pacific Park Brooklyn.

MAG Partners operates a real estate development professional services model. Revenue is generated through developer fees on project costs, equity participation (developer promote) from joint venture partnerships, and asset management fees on stabilized assets. Projects are developed through joint venture structures with institutional capital partners that provide the majority of equity financing, including Goldman Sachs Asset Management, Sagamore Ventures, Safanad, Global Holdings, Atalaya, Qualitas, MetLife Investment Management, MacFarlane Partners, KRW Realty Advisors, and Krown Point. End-user revenue comes from direct residential leasing at project-specific websites and on-site leasing offices, and from ground-floor retail leases to a mix of national (Lidl), regional (Pet Evolution, Serafina Mare), and local (Urbana Cafe & Gallery, SAINT) tenants. The company has no parent and remains privately held, with founding principals MaryAnne Gilmartin (Founder & CEO), Jeffrey A. Rosen (Managing Principal & CIO), and Ashley Cotton (Principal). The firm received a $148.7 million capital commitment from Goldman Sachs Alternatives in April 2026.

Name

MAG Partners

Legal name

MAG Partners

Website

https://magpartners.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

MAG Partners is a woman-owned, WBE-certified urban real estate developer founded in 2018 in New York City, specializing in mixed-income residential, mixed-use, and large-scale waterfront masterplan developments in partnership with institutional capital partners across New York and Baltimore.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Real Estate Property Managers (53131)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Funds — Opportunistic / Development (FSANAEAI)

Keywords

• Urban real estate development
• Mixed-income housing
• Mixed-use developments
• Masterplan development
• Public-private partnerships

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Others

Revenue model

1. Real Estate Development: MAG Partners generates revenue through developing residential, commercial, and mixed-use properties. Revenue comes from development fees, equity returns from joint venture partnerships, and asset management fees. The company develops projects in partnership with institutional investors and capital partners, taking developer's fees and promoting equity participation in completed projects.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

MAG Partners is a woman-owned, WBE-certified urban real estate developer that executes ground-up residential towers, mixed-income multifamily housing, mixed-use projects, and large-scale waterfront masterplans. Its portfolio includes five core developments: 122 Varick (149-unit Hudson Square tower), Ruby (480-unit Chelsea mixed-income), Mabel (190-unit Chelsea mixed-income), Anagram Turtle Bay (194-unit Midtown East mixed-income), and the 235-acre Baltimore Peninsula masterplan. Projects typically reserve 25-30% of units as affordable housing under programs such as Affordable NY and 485x, and are co-developed with institutional capital partners.

Product overview

MAG Partners is a woman-owned real estate development company offering ground-up residential development, mixed-use projects, and large-scale masterplan development. The company's portfolio includes five core development projects: 122 Varick (149-unit residential tower in Hudson Square), RUBY (480-unit multifamily in Chelsea), MABEL (190-unit mixed-income project in Chelsea), Baltimore Peninsula (235-acre waterfront masterplan), and ANAGRAM TURTLE BAY (194-unit multifamily in Midtown East). Projects are developed with capital partners and typically include affordable housing components under programs like Affordable NY and 485x.

Differentiator

Problem solved

Functional benefit

Products and services

• 122 Varick A premier 149-unit ground-up residential tower in Manhattan's Hudson Square neighborhood, structured as a ground lease with Trinity Church and developed under the 485x program with approximately 25% affordable units.
• Ruby – 243 West 28th Street A 480-unit through-block mixed-income multifamily project in Chelsea designed by COOKFOX Architects, featuring approximately 8,500 square feet of ground-floor retail and 30% affordable units under the Affordable NY program.
• Mabel – 335 Eighth Avenue A 190-unit mixed-income multifamily project in Chelsea developed under the Affordable NY Program with 30% units reserved for low- and middle-income New Yorkers, featuring ground-floor commercial space including a Lidl grocery store. Achieved LEED Gold certification and Passive House building standards.
• Baltimore Peninsula A 235-acre masterplan on a post-industrial waterfront peninsula in central South Baltimore, developed in partnership with Sagamore Ventures, Goldman Sachs Asset Management, and MacFarlane Partners, featuring 1.1 million square feet of mixed-use development including residential, office, dining, and entertainment spaces, plus the ROOST hotel (rated #2 TripAdvisor hotel in Baltimore).
• Anagram Turtle Bay – 300 East 50th Street A 194-unit multi-family mixed-income building at the corner of 50th Street and 2nd Avenue in Midtown East, designed by BKSK Architects with 30% affordable units and ground-floor retail including Serafina Mare restaurant.

Quantifiable outcome

• 98% occupancy reached in Summer 2024 for Ruby development
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core.

• Trinity ChurchcoreStrategic or Co-development PartnerGround lease partner for 122 Varick project in Hudson Square. Trinity Church owns the land and has structured a ground lease arrangement for the development.
• Penn SouthcoreStrategic or Co-development PartnerPenn South, an affordable housing cooperative, selected MAG Partners to develop their property at 335 Eighth Avenue into a mixed-income apartment building with ground floor commercial.
• COOKFOX ArchitectscoreTechnology or IntegrationLead architect for Ruby and Mabel developments. COOKFOX is a celebrated architecture firm responsible for the exterior design of multiple MAG Partners projects.
• Urban Atelier GroupcoreImplementation/ SI/ Consulting PartnerConstruction manager for the Ruby development at 243 West 28th Street.
• UAG (Urban Atelier Group)coreImplementation/ SI/ Consulting PartnerConstruction manager for the Mabel development at 335 Eighth Avenue.
• BKSK ArchitectscoreTechnology or IntegrationArchitect for Anagram Turtle Bay at 300 East 50th Street, responsible for the building's masonry design that melds Midtown East and Upper East Side architectural traditions.

Scale indicators6 records

Recent moves5 records

Expansion highlights6 records

Broad incumbents

• The Related Companies: One of the largest privately-held real estate developers in the US, with a major NYC footprint including Hudson Yards, and a broad portfolio spanning affordable housing, mixed-use, and commercial. Comparable to MAG Partners in NYC ground-up mixed-income development but at vastly greater scale.
• The Durst Organization: Family-owned NYC real estate developer with deep Manhattan portfolio and known for sustainability leadership. Operates at greater scale but competes with MAG for similar Manhattan sites and institutional capital relationships.
• Tishman Speyer: Global real estate developer and investor with major NYC presence including Rockefeller Center and Hudson Yards. Operates at a vastly larger scale than MAG but competes for similar high-profile Manhattan ground-up development opportunities.

Direct peers

• L&L Holding Company: NYC-focused ground-up office and mixed-use developer founded by David Levinson. Closely comparable to MAG Partners in scale, NYC focus, and product mix; L&L previously employed Andrew Staniforth as Principal before his 2026 move to MAG.
• BRP Companies: NYC-based multifamily developer with comparable scale, mixed-income product mix, and joint-venture equity model. Competes with MAG for similar Manhattan development sites and institutional capital partners.
• L+M Development Partners: One of the largest NYC affordable and mixed-income housing developers, directly comparable to MAG's mixed-income strategy and use of programs like Affordable NY. Operates similar joint-venture model with institutional capital partners.
• Gotham Organization: NYC-focused residential and mixed-use developer with a long track record in Manhattan. Closely comparable to MAG Partners in product type (luxury and mixed-income multifamily), scale, and Manhattan geographic focus.
• Jonathan Rose Companies: NYC-based developer focused on affordable, mixed-income, and green multifamily housing. Directly comparable to MAG's mixed-income product strategy, Aida Stoddard's prior employer, and similar mission-aligned positioning.
• Taconic Partners: NYC-based mixed-use and multifamily developer with comparable project scale and a focus on ground-up development in Manhattan. Operates similar joint-venture-driven business model and competes for similar sites and capital partners.

Others

• Trinity Church Wall Street (Real Estate): Ground-lease partner on MAG's 122 Varick project. A NYC institution that develops and leases its extensive Manhattan real estate holdings — adjacent rather than directly competitive, but closely intertwined through the partnership structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds1 record

Investors1 record

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 MAG Partners