What Two Trees Manangement does

Two Trees Management Company is a privately held Brooklyn-based real estate development firm founded in 1968 by David Walentas. The firm is headquartered in the DUMBO neighborhood of Brooklyn, New York, which Walentas is credited with transforming from a downtrodden industrial area into a thriving residential and commercial hub, building what is described as a $2 billion real estate empire in the process. The company's portfolio spans transformational urban redevelopment projects along the North Brooklyn waterfront, with notable assets including the Domino Sugar refinery redevelopment in Williamsburg and the One Domino Square luxury condominium project.

The company's revenue model operates across three streams: luxury residential condominium sales, commercial office leasing at redeveloped waterfront properties, and broader real estate development activity. Pricing reflects market-clearing luxury residential prices (a One Domino penthouse is under contract at $7 million, or $3,313 per square foot) and commercial rents averaging $53 per square foot in DUMBO. The firm leases primarily to technology and AI companies, which now occupy roughly three-quarters of Domino Sugar's office space, and indirectly serves a growing cluster of over 160 architecture and design firms that have located in DUMBO. The company employs between 51 and 100 people and remains privately held under founder ownership, with no disclosed institutional investors or public listing.

Name

Two Trees Manangement

Legal name

Two Trees Management

Website

https://twotreesny.com

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

51–100 employees

Short description

Two Trees Management is a Brooklyn-based, privately held real estate development firm founded in 1968 by David Walentas, focused on transformational waterfront redevelopment of North Brooklyn neighborhoods including DUMBO and Williamsburg, serving luxury residential buyers, technology tenants, and creative office occupiers.

Ownership category

akta.pro rank

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development and Sales: Two Trees Management generates revenue through developing properties and selling real estate. The company transforms underutilized industrial areas into residential and commercial hubs, selling units at premium prices. The One Domino development features luxury condominiums with units selling for millions (penthouse under contract at $7 million).
2. Commercial Real Estate Leasing: The company leases office space in its redeveloped properties. Tech and AI companies now occupy approximately three-quarters of the Domino Sugar refinery office space. Office rents in surrounding DUMBO area average $53 per square foot.
3. Luxury Residential Development Sales: Revenue from selling luxury residential units in developments like One Domino. The development competes with other luxury waterfront projects and has achieved record-breaking prices in North Brooklyn, with median sale prices reaching $1.65 million.

Pricing tiers

Distribution channels1 record

Core offering

Two Trees Management is a Brooklyn-based real estate development firm that transforms underutilized industrial waterfront areas into residential and commercial hubs. The company develops and sells luxury residential condominiums and leases commercial office space in redeveloped properties along the North Brooklyn waterfront, including the Domino Sugar refinery and the One Domino Square project.

Product overview

Two Trees Management is a real estate development and property management company. The company develops mixed-use residential and commercial properties in Brooklyn, New York, including the Domino Sugar Factory redevelopment in Williamsburg and the One Domino Square luxury condominium project. As a real estate company rather than a technology product company, Two Trees Management does not offer software products, platforms, or digital services.

Differentiator

Problem solved

Functional benefit

Products and services

• One Domino Square Luxury Condominiums

Quantifiable outcome

• North Brooklyn median sale prices reached record $1.65 million, up 20% year-over-year
• +2 more outcomes

Named customers2 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

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Silverstein Properties: NYC-focused developer of commercial office towers and mixed-use properties including the World Trade Center. Comparable to Two Trees in delivering transformative commercial real estate to enterprise tenants in NYC.
• The Durst Organization: Family-controlled NYC real estate developer focused on commercial office, residential, and mixed-use properties. Highly comparable as a private/family-owned NYC developer operating premium commercial and residential assets.
• TF Cornerstone: NYC-focused residential and mixed-use developer with a long track record of large-scale developments. Comparable in scale and family-controlled private ownership model serving NYC residential and commercial markets.
• Tishman Speyer: Global real estate developer with major NYC office and mixed-use presence including Rockefeller Center. Comparable to Two Trees in delivering premium commercial office space to enterprise tenants in landmark NYC locations.
• JDS Development Group: NYC luxury real estate developer behind projects like 111 West 57th Street and the American Copper Buildings. Directly comparable in luxury residential and mixed-use development targeting high-net-worth buyers in NYC.
• L+M Development Partners: NYC-based real estate developer focused on mixed-use, affordable, and market-rate residential developments. Comparable as a Brooklyn/NYC active developer with mixed-use and residential expertise.
• Related Companies: Major NYC-focused real estate developer behind Hudson Yards and other large-scale mixed-use luxury and commercial projects. Directly comparable to Two Trees in scale, target market (luxury residential and commercial tenants in NYC), and mixed-use redevelopment approach.

Broad incumbents

• Brookfield Property Partners: Global real estate giant with significant NYC office and mixed-use holdings. Comparable at the portfolio level in NYC commercial real estate, though much larger and broader in scope than Two Trees' Brooklyn-focused operations.
• Vornado Realty Trust: Public REIT focused on NYC office and retail properties. Comparable as a major NYC commercial real estate landlord, though publicly traded and more focused on existing stabilized assets than ground-up development.

Others

• Cushman & Wakefield: Global commercial real estate services firm with deep NYC brokerage and advisory operations. Adjacent comparable as a NYC real estate ecosystem participant serving commercial tenants and developers, though operating in services rather than development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/twotreesny
• Facebookfacebook.com/1614681672
• LinkedInlinkedin.com/company/two-trees-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

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 Two Trees Manangement