Gotham

What Gotham does

Gotham Organization is a fifth-generation, family-owned real estate development, ownership, and management firm founded in 1912 by Nathan Picket in New York City's Lower East Side. Headquartered at 111 5th Avenue, the company operates as a vertically integrated platform covering the full project lifecycle — acquisition, design, entitlements, deal structuring, financing, construction, marketing, leasing, asset management, regulatory compliance, and property management. With 260+ employees and a portfolio spanning 40+ million square feet built over its history, Gotham has delivered more than 30,000 residential units in the New York metropolitan area and currently manages 3,700+ units across 4.8 million square feet of East Coast property. Revenue is generated through four primary streams: development fees on new construction, property sales (condominiums and fee development for institutional partners), recurring rental income from owned residential and commercial properties (~4.8M sq. ft., ~$65M gross rental revenue disclosed), and asset management fees for properties managed on behalf of investors and partners.

Gotham's product portfolio spans luxury market-rate rentals (AIRE, The Nicole, Gotham West), mixed-income and affordable housing (Gotham Point, The Ashland, The Suffolk, The Maybury), large master-planned developments (Innovative Urban Village in East New York; Monitor Point in Greenpoint; Avira in Philadelphia), a hospitality offering (Gotham Market food hall), and the Gotham Living resident programming and concierge platform. The company's core technology is not software-driven; instead, its competitive differentiation rests on institutional knowledge of complex New York land-use processes (ULURP, rezoning, HPD approvals), established public-private partnership capabilities, and a multidisciplinary in-house team executing entitlements and construction under one roof. Distribution is fully direct — Gotham leases through GothamProperties.com and in-house leasing offices, sells condominiums through its own sales team, and operates managed buildings without third-party intermediaries.

Leadership transitioned from Joel I. Picket (CEO 1966–2018, now Chairman) to David L. Picket (CEO since 2020). Day-to-day operations are overseen by COO Phil Lavoie (joined 2018) and CFO Charles S. Scarlatos (joined 1999); President of Development Bryan Kelly leads the development pipeline that has grown by approximately 3,700 units since 2016 with another 5,000+ units in pipeline. The company is funded entirely through project-level real estate financing (tax-exempt bonds, LIHTCs, construction loans from Wells Fargo, TD Bank, Capital One, Goldman Sachs, Schroders Capital, Lionheart) and public-private partnerships — there are no equity funding rounds. Customer concentration is structurally low, with revenue diversified across thousands of residential tenants, multiple recurring institutional and government partners (HPD, MTA, RiseBoro, Monadnock Development, Brandywine Realty Trust, Goldman Sachs Urban Investment Group), and a development pipeline of projects ranging from $160M to over $1B in total development cost.

Name

Gotham

Legal name

Gotham Organization

Website

https://gothamorg.com

Company type

Private

Founded year

1912

Operating status

Operating

Headcount range

101–250 employees

Short description

Gotham Organization is a fifth-generation, family-owned, vertically integrated New York real estate developer, owner, and manager that has built 40M+ sq. ft. and 30,000+ residential units since 1912, generating revenue through development fees, property sales, rental income, and asset management across market-rate, mixed-income, and affordable housing on the East Coast.

Ownership category

akta.pro rank

Product category

Real Estate Development and Property Management

SIC

Operators Of Apartment Buildings (6513), Operative Builders (1531), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Multifamily (Apartment) Property Management (BPAJAGAD)

Keywords

• Real estate development
• Property management services
• Luxury residential rentals
• Affordable housing development
• Mixed-income housing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Development Fees: Revenue generated from developing new properties, including acquisition, design, entitlements, deal structuring, financing, construction, and marketing services.
2. Property Sales: Revenue from selling condominium units and fee development services to institutional partners.
3. Rental Income: Revenue from managing and operating owned residential and commercial properties. Portfolio includes luxury rentals, affordable housing, and commercial space generating approximately $65 million in gross revenues.
4. Asset Management: Fees for managing properties on behalf of investors and partners, including financial analytics, business insights reporting, and asset optimization.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Gotham Organization is a vertically integrated real estate developer, owner, and manager that acquires, develops, constructs, and manages residential and commercial properties. The company develops market-rate luxury rentals, mixed-income and affordable housing, condominiums, and institutional facilities, while also providing property management, asset management, and leasing services across an East Coast portfolio of over 4 million square feet.

Product overview

Gotham Organization operates as a vertically integrated real estate development, ownership, and management company offering residential properties, hospitality venues, and development services across the East Coast. The company's product portfolio centers on Gotham Properties (luxury residential rentals), complemented by Gotham Living (resident programming and community engagement), and Property Management Services. Their residential portfolio includes distinct branded properties such as The Suffolk, Gotham Point, The Maybury, AIRE, The Bluffs, Gotham West, The Ashland, Atlas New York, The Nicole, Monitor Point, Innovative Urban Village, and Avira. Hospitality offerings include Gotham Market at The Ashland food hall. Development services encompass the full project lifecycle from acquisition through property management.

Differentiator

Problem solved

Functional benefit

Products and services

• Gotham Properties (Luxury Rental Portfolio)

Quantifiable outcome

• Built over 40 million square feet over 100+ year history
• +4 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered major and core.

• Gilbane Building CompanymajorStrategic or Co-development Partner · 1 January 2015Strategic alliance formed in 2015 transferring third-party construction contracts to Gilbane while Gotham exclusively focuses on development, ownership, and construction businesses. Joel Picket served as Vice Chairman of Gilbane.
• RiseBoro Community PartnershipcoreStrategic or Co-development PartnerMulti-layered public-private partnership for Gotham Point encompassing 1.1M sq. ft. of residential mixed-use development across two towers in Long Island City, Queens. Partnership includes 75% affordable housing dedication.
• Department of Housing Preservation & Development (HPD)coreStrategic or Co-development PartnerCity agency development partner for Gotham Point, providing HPD BLDS approval and regulatory oversight for affordable units.
• Brandywine Realty TrustcoreStrategic or Co-development PartnerMulti-phase development partnership for Avira at Schuylkill Yards in Philadelphia, redefining University City neighborhood.
• DeNunzio GroupcoreStrategic or Co-development PartnerJoint venture partner for The Bluffs development in Clearwater, FL. Secured $160M construction financing together ($115M senior loan from Wells Fargo and $45M mezzanine debt from Schroders Capital and Lionheart Strategic Management).
• Christian Cultural CentercoreStrategic or Co-development PartnerDevelopment partner for Innovative Urban Village master plan in East New York, Brooklyn. 10.5-acre site on Christian Cultural Center campus for nearly 2,000 affordable housing units.
• Monadnock DevelopmentmajorStrategic or Co-development PartnerCo-developer for Innovative Urban Village project, supporting the large-scale mixed-use development.
• MTA New York City TransitcoreStrategic or Co-development PartnerPublic-private partnership for Monitor Point waterfront development in Greenpoint, Brooklyn. MTA providing land for approximately 1,324 homes.
• The Greenpoint Monitor MuseummajorStrategic or Co-development PartnerDevelopment partner for Monitor Point, receiving permanent home at the site celebrating neighborhood's maritime history.
• DT SalazarmajorStrategic or Co-development PartnerDevelopment partner for The Ashland project in Fort Greene, Brooklyn.
• The Richman GroupmajorStrategic or Co-development PartnerPartnership for The Langston (180 residences) and The Hamilton (77 cooperative units) in Harlem.

Scale indicators25 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• The Related Companies: One of the largest US real estate developers with a vertically integrated platform across affordable housing, mixed-income, and market-rate multifamily in NYC. Closely comparable to Gotham given its public-private partnership track record, affordable housing scale, and family-led ownership.
• Taconic Investment Partners: NYC-focused multifamily owner/operator with deep Manhattan and Brooklyn portfolio. Comparable to Gotham's Gotham Properties arm given overlapping residential asset management expertise and similar deal structures.
• Naftali Group: NYC-based real estate developer and owner with a portfolio of luxury multifamily and mixed-use projects. Comparable to Gotham given focus on luxury residential rentals in Manhattan and Brooklyn with in-house property management.
• LeFrak Organization: Multi-generational, family-owned NYC real estate developer with a significant multifamily rental portfolio. Comparable to Gotham's vertically integrated developer/owner/manager model and family stewardship approach.
• Fisher Brothers: Family-owned NYC commercial and residential real estate developer with deep capital markets expertise. Comparable to Gotham's institutional deal-making, multifamily development, and adjacent commercial portfolio.
• Extell Development Company: NYC luxury real estate developer known for high-end residential towers and mixed-use projects. Comparable to Gotham in target market (luxury Manhattan residential) and large-scale ground-up development.
• BRP Companies: NYC multifamily developer and owner-operator with significant affordable and mixed-income housing portfolio. Comparable to Gotham's affordable housing expertise and HPD partnership model.
• Monadnock Development: NYC affordable and mixed-income housing developer with deep HPD relationships. Comparable to Gotham's affordable housing pipeline and is identified as a co-developer partner on Innovative Urban Village.

Broad incumbents

• Lendlease: Global real estate developer with a substantial NYC multifamily presence. Comparable as a development peer to Gotham's large-scale ground-up projects, though Lendlease operates at a much broader geographic scale.
• Tishman Speyer: Global real estate investment and development firm with NYC multifamily and mixed-use portfolio. Comparable to Gotham's vertical integration and large-project execution, though at much greater scale and institutional ownership.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/GothamOrg
• LinkedInlinkedin.com/company/gothamorg
• Instagraminstagram.com/gothamorg
• Xx.com/GothamOrg

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 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 Gotham