Walter & Samuels

What Walter & Samuels does

Walter & Samuels, Inc. is a privately held, full-service New York City real estate firm founded in 1933 and controlled by Chairman David I. Berley, who acquired the company in 1973 and has led it for over four decades. The firm operates across three core product lines — commercial office leasing, retail space leasing, and residential sales and rentals — supported by integrated service offerings in property management, asset management, acquisitions, conversion and development, and institutional-grade accounting. Walter & Samuels manages 3.1 million square feet of commercial space and 10,000 residential units, with a portfolio valued at $3.5 billion, and has completed 37+ major residential and commercial conversions, particularly of pre-war Manhattan buildings.

The firm's customer base is diverse and institutional in character, spanning enterprise tenants such as WeWork, NYU Langone, UPS, Bank of America, Raytheon, NYC Schools, and high-end retailers and restaurants (Oscar de la Renta, Dover Street Market, Il Mulino, Hao Noodle), alongside private and institutional investors that co-venture with Walter & Samuels on acquisitions. Distribution combines in-house direct leasing teams with syndication across CoStar, LoopNet, and StreetEasy, while partnerships with General Electric Capital Corporation and Deutsche Bank REEF provide institutional capital for property acquisitions. Marketing is relationship-driven and listing-based rather than technology-driven, with no disclosed AI, software, or platform products.

The business model is built on three revenue streams: recurring property and asset management fees on the managed portfolio, transaction-based brokerage and acquisition commissions (including Chairman Berley's approximately $1 billion in deals over the last three years), and professional service fees from condo/co-op conversions of underperforming pre-war buildings. Pricing for management services is typically structured as a percentage of property value or per-unit fees billed monthly, while leasing and acquisition commissions are negotiated based on square footage, location, and deal scope. The firm has 101–250 employees and a single headquarters at 419 Park Avenue South in Midtown Manhattan, with operations concentrated entirely in the New York City market.

Name

Walter & Samuels

Legal name

Walter & Samuels, Inc.

Website

https://walter-samuels.com

Company type

Private

Founded year

1933

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services

NAICS

Nonresidential Property Managers (531312), Residential Property Managers (531311), Offices of Real Estate Agents and Brokers (53121)

SIC

Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

akta.pro secondary industries

Tenant Representation & Corporate Services Brokerage (BPAJABAJ), Seller Representation & Listing Services (BPAJAAAK)

Keywords

• Commercial real estate services
• Property management
• Asset management
• Residential leasing
• Commercial leasing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Property and Asset Management Fees: Fees generated from managing commercial and residential properties including leasing, tenant relations, maintenance, and financial reporting services.
2. Acquisitions and Brokerage Commissions: Revenue from acquiring individual properties and portfolios, and facilitating lease transactions for commercial office, retail, and residential spaces.
3. Condo and Co-op Conversion Services: Conversion of pre-war residential buildings and commercial buildings into condominiums, generating value from previously underperforming properties.

Pricing tiers

Distribution channels4 records

Marketing channels4 records

Core offering

Walter & Samuels is a full-service New York City real estate firm that leases commercial office, retail, and residential space across Manhattan and provides property management, asset management, acquisition brokerage, cooperative and condominium conversions, and accounting services to property owners and tenants. The firm manages a $3.5 billion portfolio that includes 3.1 million square feet of commercial space, 10,000 residential units, and 37+ completed residential conversions, and it partners with institutional investors on co-venture acquisitions.

Product overview

Walter & Samuels is a full-service New York City real estate firm offering integrated commercial and residential property services. The company operates across three core product lines: Commercial Office Leasing, Retail Space Leasing, and Residential Sales & Rentals. Supporting these are service offerings including Property Management, Asset Management, Acquisitions Group, Conversion & Development, and Accounting Services. The firm manages 3.1 million square feet of commercial space and 10,000 residential units, with a portfolio valued at $3.5 billion. Notable properties include 500 Eighth Avenue near Penn Station, 30 East 20th Street in Gramercy Park, 15 Madison Square North luxury residential conversion, and numerous retail and office properties throughout Manhattan.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Office Leasing Leasing of commercial office spaces across Manhattan including properties in Midtown South, Chelsea, Gramercy Park, and Penn Station areas for enterprise and mid-market tenants.
• Retail Space Leasing Leasing of retail storefronts and commercial spaces in prime Manhattan locations including Fifth Avenue, Sixth Avenue, Madison Avenue, and Chelsea for fashion, food, and entertainment tenants.
• Residential Sales and Rentals Sale and rental of residential apartments including pre-war conversions and luxury condominiums across Manhattan's Upper East Side, Upper West Side, and Upper Manhattan.
• Property Management Full-service property management for residential and commercial buildings, including maintenance, capital improvements, and vendor relationships with architects, engineers, and contractors.
• Asset Management Asset management planning and execution across the firm's 85+ years of NYC market experience, ranging from optimizing healthy properties to repositioning troubled assets.
• Acquisitions Group Acquisition of individual properties and entire portfolios, with equity positions in select opportunities and co-venture partnerships with local and global private and institutional investors.
• Conversion and Development Cooperative and condominium conversion of pre-war Manhattan buildings, with over 30 conversions completed in 30 years, including value generation from previously underperforming properties.
• Accounting Services Institutional-grade accounting platform providing security, accuracy, and flexible reporting tailored to unique client needs for managed properties.
• Development Listing Availability Development sites and properties available for development projects in the New York City area, marketed through the firm's dedicated development availability listings.

Named customers15 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

Three partnerships are on record, tiered major and core.

• Silk & Halpern Realty, Inc.majorStrategic or Co-development Partner · 1 January 2001Strategic alliance formed in 2001 bringing a 400,000 square foot portfolio including prime midtown properties: 136 East 57th Street, 501 Madison Avenue, 425 Madison Avenue, and 6 East 45th Street.
• CoStarcoreTechnology or IntegrationProperty listings distribution partnership through CoStar marketplace platform, enabling full portfolio visibility to commercial real estate professionals.
• LoopNetcoreTechnology or IntegrationProperty listings distribution partnership through LoopNet commercial real estate marketplace, featuring highlighted listings for free.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Rose Associates: NYC-focused property management and residential services firm managing a large Manhattan residential portfolio. Comparable to Walter & Samuels in residential property management, condo/co-op services, and asset management focus on New York City.
• The Durst Organization: Privately-held NYC real estate owner, developer, and manager focused on commercial office and residential properties. Comparable to Walter & Samuels in NYC-focused ownership, property management, and tenant relationships across Manhattan.
• Tishman Speyer: Global real estate owner, developer, and operator with deep NYC roots managing major office, residential, and mixed-use assets. Comparable to Walter & Samuels in NYC office and residential management, asset repositioning, and institutional partnerships.
• Rudin Management Company: Privately-held NYC real estate management and development firm managing commercial and residential properties across Manhattan. Comparable to Walter & Samuels in NYC property management, family-controlled structure, and multi-generational operating history.

Broad incumbents

• Cushman & Wakefield: Global commercial real estate services firm offering brokerage, property management, and asset management across all major markets. Overlaps with Walter & Samuels in commercial office leasing and property management but operates at significantly greater scale and geographic breadth.
• CBRE Group: World's largest commercial real estate services firm, providing investment sales, leasing, property management, and valuation. Directly comparable to Walter & Samuels in commercial leasing and property management services, though at global scale and public-company scale.
• Newmark Group: Commercial real estate services firm with strong NYC presence offering leasing, investment sales, and property management. Comparable to Walter & Samuels in NYC office and retail leasing and property management focus.
• JLL (Jones Lang LaSalle): Global real estate investment and management firm providing brokerage, property management, and capital markets services. Comparable to Walter & Samuels in commercial property management and leasing, but operating at vastly larger global scale.

Regional players

• SL Green Realty: Manhattan's largest office landlord (public REIT) with a portfolio concentrated in NYC. Comparable to Walter & Samuels in NYC office leasing and asset management focus, though SL Green is primarily an owner/REIT rather than a third-party property manager.
• Vornado Realty Trust: NYC-focused REIT owning and managing premier office and retail properties in Manhattan. Comparable to Walter & Samuels in NYC office and retail focus, though Vornado operates as an owner/REIT rather than a third-party services provider.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/waltersamuelsny
• Facebookfacebook.com/Walter-Samuels-Inc-1846532608948713

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Walter & Samuels