BedRock Real Estate Partners

What BedRock Real Estate Partners does

BedRock Real Estate Partners LLC is a privately held real estate investment manager and developer founded in 2013 by Chuck Berman and Tracey Appelbaum. The firm specializes in the development and acquisition of rental apartment buildings and mixed-use projects in urban locations spanning the Boston-to-Washington, DC corridor, with particular concentration in New York City. Since inception, BedRock has invested in 18 projects totaling more than 1.75 million square feet of apartment and retail space, with assets under management exceeding $1.3 billion. The portfolio spans market-rate rentals, mixed-income housing, luxury condominiums (notably One Clinton, a 36-story, 133-unit tower in Brooklyn Heights with $426 million in development value), adaptive-reuse historic restorations (The Patterson House in DC's Dupont Circle, listed on the National Register of Historic Places), and stabilized commercial assets (United Artists Cinemas, The Citibank Building). Several projects carry LEED certification, and the firm's active pipeline includes an all-electric 560-unit mixed-income project in Astoria, Queens with 25% affordable units at 60% AMI.

BedRock operates exclusively as a principal in joint ventures — acting as limited partner or co-general partner — partnering with institutional developers (L+M Development Partners, Muss Development, Twining Properties, Silverstein Properties, Kaufman Astoria Studios) and a curated group of institutional equity providers (JD Capital, TH Real Estate, Principal Financial Group, New York Life Investment Management) alongside family offices and high-net-worth individuals. Revenue mechanics come from three sources: (1) development gains and condominium sale proceeds from project exits (such as the 133-unit One Clinton), (2) recurring rental income from stabilized assets, and (3) asset-management and promote fees earned on joint-venture equity capital under management. Construction and bridge financing is sourced from a diversified lender base including Wells Fargo, Citizens Bank, Santander, Investors Bank, Prime Finance, Related Companies, Starwood Capital, and New York Life Investment Management.

The firm is run as a lean operation of 1–10 employees out of its New York City headquarters at 501 5th Avenue, supplemented by regional construction consultants in DC and Boston. Distribution is relationship-driven: BedRock markets directly to qualified investors via its website, an investor login portal hosted through Agora Real, and earned media coverage in outlets including Forbes, The Washington Post, The New York Post, Washington Business Journal, and Haute Residence. There is no proprietary software or technology platform; the firm's value proposition rests on local market expertise, institutional capital relationships, and a development track record across Northeast urban markets.

Name

BedRock Real Estate Partners

Legal name

BedRock Real Estate Partners LLC

Website

https://bedrockllc.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

BedRock Real Estate Partners is a privately held real estate investment manager founded in 2013 that develops and acquires urban rental apartment and mixed-use projects across the Boston-to-Washington, DC corridor, primarily serving family offices, institutional limited partners, and end-user renters and condo buyers.

Ownership category

akta.pro rank

Product category

Real Estate Investment & Development

NAICS

Lessors of Other Real Estate Property (53119), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operative Builders (1531), Investors, Nec (6799)

akta.pro primary industry

Real Estate Funds — Core-Plus (FSANAEAG)

Keywords

• Real estate development
• Rental apartment investment
• Mixed-use properties
• Joint venture equity
• Urban real estate investment

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

Revenue model

1. Real Estate Development and Investment: BedRock invests in rental apartments and mixed-use projects in urban locations. The company generates returns through development gains, rental income from completed properties, and asset appreciation upon sale or refinancing.
2. Asset Management Fees: As an active participant in joint ventures as a limited partner or co-general partner, BedRock earns asset management and promote fees from institutional quality equity real estate investments.
3. Property Sales and Condominium Revenue: Revenue from selling completed residential units, such as the 133 luxury condominiums at One Clinton development, generating $426 million in development value.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

BedRock Real Estate Partners is a privately held real estate investment manager that develops and acquires rental apartment and mixed-use projects in primary urban locations across the Boston-to-Washington, DC corridor, with a particular focus on New York City. The firm operates as a limited partner or co-general partner in joint ventures, raising equity from family offices, high net worth individuals, and select institutional limited partners, and earns returns through development gains, asset management and promote fees, rental income, and asset appreciation upon sale or refinancing.

Product overview

BedRock Real Estate Partners LLC is a privately held real estate investment manager founded in 2013 by Chuck Berman and Tracey Appelbaum, specializing in the development and acquisition of rental apartments and mixed-use projects in urban locations from Boston to Washington, DC with a particular focus in New York City. The company's portfolio comprises 18 projects totaling over 1.75 million square feet of apartment and retail space with assets under management exceeding $1.3 billion. Their product portfolio includes diverse property types: market-rate and mixed-income rental apartments (The Parkline, The Pierrepont Montague, 180 Franklin Avenue, Caesura), luxury condominiums (One Clinton), adaptive reuse historic restorations (The Patterson House), commercial/retail properties (United Artists Cinemas, The Citibank Building), and transit-oriented multifamily developments across Boston, New York, and Washington DC markets. The company operates as a limited partner or co-general partner in joint ventures with institutional investors, family offices, and developer partners including L+M Development Partners, Kaufman Astoria Studios, and Silverstein Properties.

Differentiator

Problem solved

Functional benefit

Products and services

• 22 Caton Place A 7-story, 73-unit residential rental development in Brooklyn (Kensington) with studio, one, two, and three-bedroom units featuring modern finishes, LEED Gold certification, and amenities including a roof terrace and pet spa.
• Caesura A mixed-use development in Brooklyn (Fort Greene) with 123 rental units, ground-floor retail, and community facilities occupied by The Mark Morris Dance Group and The Center for Fiction, targeting LEED Silver certification.
• The Pierrepont Montague A luxury 19-story, 90-unit residential development in Brooklyn Heights with ground-floor retail, exceeding Enterprise Green Communities certification requirements.
• One Clinton A 36-story tower in Brooklyn Heights featuring 133 luxury condominiums, a 26,620 sq ft public library branch, 9,000 sq ft STEM lab, and ground-floor retail spaces including Brooklyn Roasting Company and Smorgasburg.
• The Parkline A 23-story, 254-unit residential tower in Brooklyn (Prospect-Lefferts Gardens) targeting LEED certification, with a co-generation power station and commercial/community space including Maple Street School and Greenlight Bookstore.
• 5 Washington Street A mid-rise high-end residential building in Brighton, MA with approximately 105 rental units, ground-floor retail anchored by CVS, and a full amenity package.
• 59 Fountain Street A transit-oriented multifamily project in Framingham, MA transforming a historic mill building into 258 units with industrial-style loft apartments and new construction, featuring amenities including a gym, roof deck, and outdoor pool.
• 260 Beacon Street A 3-story mixed-use residential development in Somerville, MA with 17 rental apartments, ground-level retail, and parking near Harvard University.
• 140 Line Street A 28-unit residential development in Cambridge/Somerville (Inman Square) adjacent to Cambridge Hospital with ground-floor retail.
• 672 St. Nicholas Avenue A 6-story, 49-unit apartment building in Manhattan (Hamilton Heights) undergoing extensive rehabilitation with improved common areas and mechanical systems.
• 180 Franklin Avenue A newly constructed 5-story, 118-unit rental development in Brooklyn (Clinton Hill) near Pratt Institute with creative workspaces, gallery space, and a music rehearsal room.
• The Patterson House A restored 1903 Beaux Arts mansion in Washington DC (Dupont Circle) combined with a new 6-story annex, offering 92 fully furnished luxury rental apartments with hotel-like services and amenities.
• 2144 California Street NW (Ora) A gut-rehabilitated 113-unit apartment building in Washington DC (Kalorama Heights) with facade enhancements, modern finishes, fitness facility, and roof deck.
• Watermark LIC A 27-story, 168-unit luxury residential building in Queens (Long Island City) with 24-hour concierge, penthouse fitness center, and ground-level retail.
• United Artists Cinemas An 84,000 sq ft, 14-screen movie megaplex in Queens (Astoria) at Kaufman Astoria Studios, currently 100% leased to United Artists Theatre Circuit under NNN lease.
• The Citibank Building A 29,606 sq ft retail property in Brooklyn (Brooklyn Heights) NNN leased by Citibank through 2022 with significant unused development rights.
• 35-10 Steinway Street (560-Unit Mixed-Income Astoria Project) A 560-unit mixed-income housing development in Astoria, Queens, with 25% affordable units at 60% AMI, all-electric infrastructure, designed by Beyer Blinder Belle Architects; co-developed with LMXD with $250M financing from New York Life Investment Management.

Quantifiable outcome

• 18 projects completed since inception in 2013
• +2 more outcomes

Named customers7 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

Nine partnerships are on record, tiered minor, core and major.

• P.C. Richard & SonminorOthers · 1 August 2026National retailer that will occupy retail space in the 560-unit mixed-income Astoria development project.
• L+M Development Partners (LMXD)coreStrategic or Co-development Partner · 1 August 2025Joint development partner for the 560-unit mixed-income project at 35-10 Steinway Street in Astoria, Queens. LMXD and BedRock secured $250 million in construction financing from New York Life Investment Management for this project, with 25% of units set aside for affordable housing at 60% AMI.
• Kaufman Astoria StudioscoreStrategic or Co-development Partner · 1 July 2020Partnership to expand the Kaufman Arts District in Astoria, Queens. Previously collaborated on the Innovation QNS initiative (valued at $2 billion) and the United Artists Cinemas property acquisition. Kaufman Astoria Studios is a major TV and film production facility.
• Silverstein PropertiesmajorStrategic or Co-development Partner · 1 July 2020Original co-developer of the Innovation QNS initiative with BedRock and Kaufman Astoria Studios. Silverstein Properties withdrew from the $2 billion, 3,200-unit scheme in September, leading to the scaled-down 560-unit project.
• The Hudson CompaniesminorOthers · 1 January 2016Operating partner for the 22 Caton Place development in Brooklyn, a 73-unit LEED Gold-certified residential project.
• Muss DevelopmentminorOthers · 1 January 2016Operating partner for 180 Franklin Avenue development in Brooklyn (Clinton Hill/Bed-Stuy), a 118-unit newly constructed rental development acquired for $66.5 million.
• Twining PropertiesminorStrategic or Co-development Partner · 1 January 2016Developer partner for Watermark LIC project in Long Island City, Queens, a 168-unit 27-story luxury residential building.
• CBD (now BedRock Real Estate Partners)minorStrategic or Co-development Partner · 1 January 2016Joint venture with Twining Properties and CBD for the 27-story Long Island City residential project.
• Kaufman Acquisitions LLCminorStrategic or Co-development Partner · 1 January 2016Developer partner for United Artists Cinemas property in Astoria, Queens, an 84,000 square foot 14-screen megaplex acquired for $47.1 million.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Fairstead: Northeast-focused multifamily developer with mixed-income housing emphasis. Comparable Northeast urban development focus, though at slightly larger AUM scale than BedRock.
• Delshah Capital: NYC-focused multifamily developer and operator with mixed-income and market-rate portfolio. Comparable urban development focus but smaller institutional presence.

Direct peers

• L+M Development Partners: NYC-based affordable and mixed-income housing developer and BedRock's joint venture partner on the 560-unit Astoria project. Highly comparable business model and NYC multifamily focus.
• The Hudson Companies: NYC-based affordable and mixed-income multifamily developer and BedRock's partner on 22 Caton Place. Highly comparable mixed-income urban development approach.
• Twining Properties: NYC multifamily developer and BedRock's JV partner on Watermark LIC. Comparable urban multifamily/mixed-use development focus in the same primary markets.
• Muss Development: Long-standing NYC multifamily developer and BedRock's JV partner on 180 Franklin Avenue. Comparable urban rental and mixed-use development expertise.
• BRP Companies: NYC-based real estate investment manager and developer focused on urban multifamily and mixed-use, with similar deal size and Northeast corridor focus. Closest direct comparable in scale and model.
• Taconic Investment Partners: NYC-based real estate investment manager focused on value-add multifamily and mixed-use in primary urban markets. Comparable investment management and development model.

Broad incumbents

• Silverstein Properties: Major NYC commercial and residential developer; former BedRock co-developer on Innovation QNS. Overlapping NYC urban development activity at much larger scale and broader portfolio.
• Related Companies: One of the largest US real estate developers, with deep NYC multifamily exposure (incl. Hudson Yards) and as a BedRock construction lender. Overlapping urban development activity but at vastly larger scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors

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 BedRock Real Estate Partners