LCOR, INC

What LCOR, INC does

LCOR is a vertically integrated multifamily real estate development, investment, and operating company founded in 1976 and headquartered in New York, with regional offices in Bethesda (D.C. metro) and Chesterbrook (Philadelphia). The company develops, acquires, constructs, leases, and manages a portfolio of 11,000+ multifamily residential units and 2.4 million square feet of commercial space across five East Coast gateway MSAs: New York, Washington D.C., Philadelphia, Boston, and Miami. LCOR executes through three interconnected platforms — a build-to-core ground-up development platform (Hoboken Connect, 107 Morgan, 1775 Biscayne, Allen), an investment platform featuring the 2024-launched Innovative Living Strategy (AI leasing agents, smart home tech, managed Wi-Fi, EV charging, self-guided tours applied to pre-COVID acquisitions, anchored by The Batch Yard in Everett, MA), and an in-house property management operation. The company invests on behalf of 25+ institutional capital partners including CalSTRS, PGIM, KKR, Ares, Madison International, BlackRock, Wells Fargo, and Bank of America, earning management fees and promote on multifamily JVs and operating platforms. Notable sustainability infrastructure includes large-scale geothermal systems (NYSERDA grant-supported at 1515 Surf, the largest in New York), 11 LEED-certified projects since 2012, 5 Fitwel-certified projects, and three consecutive GRESB Green Stars (2022-2024). Public-private development includes Hoboken Connect with NJ Transit (~$450 million, opening Hudson Place June 2026), and prior federal tenant buildouts for the U.S. Patent and Trademark Office and Nuclear Regulatory Commission.

Name

LCOR, INC

Legal name

LCOR Inc.

Website

https://lcor.com

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

251–500 employees

Short description

LCOR is a vertically integrated multifamily developer, investor, and operator that develops, acquires, and manages 11,000+ residential units and 2.4 million sq ft of commercial space across East Coast gateway markets, serving institutional capital partners and residential renters.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Multifamily Rental Income: LCOR develops, owns, and operates multifamily residential properties across the East Coast. Rental income from a portfolio of 10,000+ units (residential leasing and property management) constitutes the core recurring revenue stream. Revenue is generated through monthly rents from studio, one-, two-, and three-bedroom units across properties in New York, Washington D.C., Philadelphia, Boston, and Miami.
2. Commercial Property Management: LCOR manages 2.4 million square feet of commercial space including Class A office, mixed-use developments, and public-sector tenant spaces (US Patent and Trademark Office, Nuclear Regulatory Commission). Commercial tenants pay rent under long-term lease agreements.
3. Asset Sales and Portfolio Recapitalization: LCOR generates one-time revenue through strategic property dispositions. In 2024, LCOR sold 34 Berry Street (142-unit Brooklyn multifamily) to Delshah Capital for $76 million. Recapitalizations with institutional partners (e.g., Fortress, Ares) also generate transaction fees and carried interest.
4. Investment Management and Promote Income: LCOR invests on behalf of leading institutional investors and earns management fees and carried interest (promote) on fund returns. Partners include CalSTRS, PGIM, KKR, Ares Management, Madison International, Brandywine, NTT, and others.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

LCOR is a fully integrated multifamily real estate development, investment, and operating company that acquires, develops, constructs, leases, and manages rental housing and commercial properties in major East Coast gateway markets (Boston to Miami). The firm offers build-to-core development, institutional investment management, value-add acquisition strategies (Innovative Living Strategy), and on-site property and asset management services across a portfolio of 11,000+ multifamily units and 2.4 million square feet of commercial space.

Product overview

LCOR is a fully integrated multifamily development, investment, and operating company with a portfolio of 11,000+ units and 2.4 million square feet of commercial space. The company operates through distinct but integrated platforms: a build-to-core development platform delivering major mixed-use projects like Hoboken Connect, 107 Morgan, and 1775 Biscayne; an Investment platform including the Innovative Living Strategy for technology-enhanced acquisitions; and direct property management of residential communities. Key products include residential towers (Charlie, Allen, Park 151), oceanfront communities (1515 Surf), and sustainable infrastructure (geothermal systems). LCOR serves major East Coast markets from Boston to Miami through a vertically integrated platform covering acquisition, development, construction, leasing, and property management.

Differentiator

Problem solved

Functional benefit

Products and services

• Hoboken Connect Transformative mixed-use redevelopment of Hoboken Terminal and surrounding waterfront in Hoboken, NJ. Encompasses new residential and office towers, retail spaces, and significant public infrastructure improvements with NJ Transit. Includes the Charlie residential tower (386 units, 27 stories) and Hudson Place public realm.
• Charlie 27-story residential tower within Hoboken Connect featuring 386 studio-to-three-bedroom apartments, 14,900 sq ft of amenities including co-working spaces, pet spa, outdoor pool, fitness center, and rooftop deck. 20% of units are affordable housing.
• 107 Morgan 34-story, 382-foot mixed-use residential tower in Jersey City, NJ. Features 633 rental residences, 210 enclosed parking spaces, a 5,200-square-foot open-air arcade, and 19,635 sq ft of ground-floor retail and gallery space.
• 1515 Surf Oceanfront residential development in Brooklyn's Coney Island neighborhood with 463 units, rooftop pool, fitness center, co-working spaces, and direct beach access. Features the largest geothermal heating and cooling system in New York (in partnership with EcoSave USA, partially funded by NYSERDA), reducing GHG emissions by 60% versus traditional HVAC.
• 1775 Biscayne 42-story ground-up mixed-use development in Miami's Edgewater neighborhood featuring 544 premium rental residences, over 50,000 sq ft of amenity space, 628-space parking garage, rooftop pool, fitness center, and tenant lounges.
• Allen 28-story mixed-use development in New Rochelle, NY featuring 307 residential rental units, 3,000 sq ft of retail/commercial space, and 252 parking spaces.
• The Batch Yard 328-unit apartment community in Everett, MA (built in 2014) acquired by LCOR in 2024 as the first acquisition under the Innovative Living Strategy. Features resort-style outdoor pool, renovated courtyard, rooftop deck, fitness center, pet spa, and dog park.
• McLean Crossing 21-acre pedestrian-oriented master-planned neighborhood in McLean, VA encompassing 2.6 million square feet of residential, retail, and commercial spaces.
• Institutional Investment Management Services Investment management services for institutional capital partners covering LP/GP fund structures, direct co-investments, and operating platforms across multifamily development ventures. LCOR earns management fees and carried interest (promote) on returns generated for institutional partners including CalSTRS, PGIM, KKR, Ares, Madison International, Brandywine, BlackRock, and others.
• Commercial Property Management Services Property management services across LCOR's 2.4 million square foot commercial portfolio, including Class A office, mixed-use developments, and public-sector tenant spaces (USPTO, Nuclear Regulatory Commission). Commercial tenants pay rent under long-term lease agreements.

Quantifiable outcome

• 60% reduction in greenhouse gas emissions compared to traditional HVAC systems at 1515 Surf, Coney Island (geothermal system — largest in New York)
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered major, flagship, core and minor.

• Potomac Investment PropertiesmajorStrategic or Co-development Partner · 17 June 2026Potomac Investment Properties joined with Rockpoint and LCOR in a three-way JV for the Georgetown 299-unit multifamily development. Specific role division between the three partners is not detailed in available sources.
• NJ TransitflagshipStrategic or Co-development Partner · 15 June 2026LCOR and NJ Transit are executing Hoboken Connect, a transformative public-private redevelopment of Hoboken Terminal and surrounding waterfront. LCOR is the designated developer responsible for constructing residential and commercial towers on NJ Transit-owned land, representing approximately $450 million in waterfront investment, including the planned 27-story Charlie tower. Hudson Place (public realm improvements) opened June 15, 2026.
• EcoSave USAcoreStrategic or Co-development Partner · 1 January 2024LCOR partnered with EcoSave USA to install a geothermal heating and cooling system at the 1515 Surf Avenue construction site in Coney Island, Brooklyn. The geothermal system — funded in part through a NYSERDA pilot program grant — will be the largest in New York and reduce GHG emissions by 60%.
• NYSERDA (New York State Energy Research and Development Authority)coreStrategic or Co-development Partner · 1 January 2023NYSERDA provided a grant to LCOR through its pilot program to support installation of the geothermal heating and cooling system at 1515 Surf Avenue, Coney Island. The grant partially funds what will become New York's largest geothermal system.
• Urban AllianceminorStrategic or Co-development Partner · 1 January 2019Since 2019, LCOR has partnered with Urban Alliance on their Property Management Pathway Program, which introduces local youth from communities of color to careers within the real estate industry through internships and workforce development.
• CBREminorChannel Partner/ Reseller/ DistributorCBRE Capital Markets arranged the $21.12 million refinancing loan for the West Elm mixed-use property in Hoboken, placing debt with Lincoln Financial.
• JLL Capital MarketsminorChannel Partner/ Reseller/ DistributorJLL Capital Markets brokered the $62.25 million debt financing through Ares for Delshah Capital's acquisition of 34 Berry Street from LCOR.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• The Related Companies: Large private developer of mixed-use, multifamily, and affordable housing in New York and other gateway cities. Comparable as a vertically integrated, East-Coast-focused developer pursuing public-private partnerships (e.g., Hudson Yards) at a similar scale to LCOR.
• The Durst Organization: Private New York real estate developer known for large-scale, sustainability-focused residential and commercial projects. Closely comparable to LCOR on East Coast focus, sustainability leadership, and institutional-quality mixed-use development.
• Tishman Speyer: Global private real estate developer and investment manager with a heavy New York multifamily and office portfolio. Comparable to LCOR in vertical integration, institutional capital partnerships, and mixed-use, transit-oriented project profile.
• Equity Residential: Public multifamily REIT owning and developing rental apartments in major U.S. gateway cities, with significant exposure to NYC, Boston, Washington D.C., and the I-95 corridor — overlapping directly with LCOR's footprint and high-end renter segment.
• AvalonBay Communities: Public multifamily REIT focused on developing, acquiring, and operating apartment communities in high-barrier East Coast and West Coast markets. Highly comparable to LCOR in product type (urban/transit-oriented rental housing), target renter, and gateway-MSA concentration.
• JBG Smith: Washington D.C. metro-focused REIT and developer of mixed-use, multifamily, and office properties with significant public-sector adjacency. Directly comparable to LCOR's DC regional office (Bethesda) and institutional/government-tenant strategy.

Regional players

• Vornado Realty Trust: NYC-centric REIT focused on office and select residential assets in Manhattan. Comparable to LCOR's New York concentration and mixed commercial/residential strategy, with similar exposure to NYC rent regulation and capital markets dynamics.

Broad incumbents

• Hines: Global private real estate developer and investment manager with a strong U.S. multifamily and mixed-use pipeline. Comparable to LCOR in institutional capital management, mixed-use development, and sustainability positioning, but at greater scale and geographic diversification.
• Boston Properties (BXP): Public REIT focused on Class A office and mixed-use development in Boston, NYC, DC, San Francisco, and Los Angeles. Comparable to LCOR's commercial management and East Coast gateway market focus, with overlap on USPTO/NRC-class federal office exposure.
• Greystar Real Estate Partners: Largest U.S. apartment operator and investment manager, with development, property management, and investment management platforms across major markets. Comparable to LCOR in multifamily operating expertise and institutional capital relationships, but at a substantially larger scale and broader geographic footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lcor-inc

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 LCOR, INC