What Midboro Management does

Midboro Management, Inc. was a privately held New York City residential property management firm founded in 1964 that served luxury pre-war and post-war cooperatives, condominiums, multifamily rental buildings, and mixed-use properties throughout New York City. Effective June 1, 2021, Midboro merged with FirstService Residential, with the Midboro brand retired in favor of FirstService Residential New York, providing clients access to national resources, collective buying power, and an expanded service platform. Following the merger, the combined operation now serves properties across New York City's five boroughs, Long Island, and Westchester County.

The company's product offering is organized as an integrated platform: core residential property management services (Condominium and Cooperative Management, Multifamily Rental Management, New Development Group, Mitchell-Lama Community Management, and Developer Services) are supported by value-added modules including FirstService Financial (banking and cash management), FS Insurance Brokers, FirstService Energy (utility cost and carbon reduction), FirstService Project Management (construction management with $200M+ portfolio valuation), FirstService Residential Connect (online communication portal), and a 24/7 multilingual Customer Care Center. The technology stack integrates with ClickPay for online payments, eApply for board application processing, and WelcomeLink for electronic statements and document ordering. A specialized New Development Group has consulted on more than 200 developments representing nearly $50 billion in construction costs.

Midboro generates revenue through recurring property management fees charged to residential buildings, with pricing structured per engagement and not publicly disclosed. Services are delivered via direct enterprise field sales to building boards, cooperative and condominium associations, and rental property owners, supported by offices in Manhattan (333 7th Avenue, 622 Third Avenue, 575 5th Avenue) and Brooklyn (132 32nd Street, Suite 412). The firm was named the No. 1 mid-sized real estate management company in New York by The New York Cooperator and maintains a management team of 101-250 employees with deep NYC-specific regulatory and operational expertise.

Name

Midboro Management

Legal name

Midboro Management, Inc.

Website

https://midboro.com

Company type

Private

Founded year

1964

Operating status

Acquired

Headcount range

101–250 employees

Short description

Midboro Management provides full-service residential property management for New York City luxury cooperatives, condominiums, and rental buildings. Founded in 1964, it merged with FirstService Residential in 2021 and now serves clients across NYC, Long Island, and Westchester County.

Ownership category

akta.pro rank

Product category

Residential Property Management

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311), Services to Buildings and Dwellings (5617)

SIC

Operators Of Apartment Buildings (6513), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

HOA / Condominium Association Management (BPAJAFAH)

akta.pro secondary industries

Multifamily Apartment Property Management (BPAJAFAA), Condominium Association Management (BPAJAHAA), New Development / Declarant Transition Management (BPAJAHAK)

Keywords

• Residential property management
• Cooperative building management
• Condominium management services
• Multifamily rental management
• Construction project management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Management Services: Recurring property management fees charged to residential buildings including cooperatives, condominiums, and rental properties. Services include building operations, financial management, maintenance administration, and compliance oversight.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Midboro Management provides full-service residential property management for New York City luxury cooperatives, condominiums, multifamily rental properties, and mixed-use buildings. Services include building operations, financial administration, maintenance coordination, regulatory compliance, board support, and construction project management. The company has served the New York real estate community for more than 50 years and now operates as part of FirstService Residential following the June 2021 acquisition.

Product overview

Midboro Management, rebranded as FirstService Residential New York in June 2021, provides a comprehensive suite of residential property management services across New York City. The offering is organized as an integrated platform with core management services (Condominiums and Cooperatives Management, Multifamily Rental Property Management, New Development Group, Mitchell-Lama Community Management, and Developer Services) supported by value-added modules including FirstService Financial (banking and cash management), FS Insurance Brokers (insurance brokerage), FirstService Energy (energy management), FirstService Project Management (construction management), FirstService Residential Connect (online portal), and 24/7 Customer Care. The platform integrates with ClickPay for online payments, eApply for board applications, and WelcomeLink for e-statements and document ordering.

Differentiator

Problem solved

Functional benefit

Products and services

• Condominiums and Cooperatives Management Professional property management services for condo and co-op buildings including capital improvement planning, Local Law compliance, and board support. Targeted at condominium associations and cooperative boards throughout New York City.
• Multifamily Rental Property Management Property management services for multifamily rental buildings including building and portfolio management, cash management, staff training, and lease administration. Targeted at multifamily rental building owners in New York City.
• New Development Group
• Mitchell-Lama Community Management Specialized management services for Mitchell-Lama affordable housing communities in New York, including regulatory compliance, affordable housing requirements, and tenant relations.
• Developer Services Comprehensive advisory services for developers including pre-development consulting, transition management, and new property onboarding. Targeted at real estate developers requiring property management consultation.
• FirstService Project Management Construction management and owner's representative services for residential and commercial construction projects. The team provides initial project analysis, bidding and contract negotiations, project supervision, and resident/staff communications. Portfolio valuation exceeds $200 million.
• FirstService Financial Banking, mortgage, and cash management services designed to optimize the financial health of managed buildings. Targeted at residential building boards and owners.
• FS Insurance Brokers In-house insurance brokerage offering strategic program design, alternative risk financing, and claims management resulting in lower annual premiums and better terms. Targeted at residential building owners and boards.
• FirstService Energy Customized energy management solutions to reduce utility costs, consumption, and carbon emissions for maximized building efficiency. Targeted at residential building owners seeking energy cost reduction.
• Management Transitions Services to help properties smoothly transition to FirstService Residential management, including property manager turnover support and continuity planning. Targeted at buildings switching property management companies.

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Two partnerships are on record, tiered core and supporting.

• FirstService ResidentialcoreStrategic or Co-development Partner · 1 June 2021Midboro Management merged with FirstService Residential effective June 1, 2021. The Midboro name changed to FirstService Residential, allowing clients to leverage national resources and value-added services including preferred banking, finance, energy, and insurance programs; collective buying power; advanced communications tools and technology.
• ClickPaysupportingTechnology or IntegrationThird-party online payment processing platform used by Midboro/FirstService Residential for residents to make payments online by credit card, debit card, and e-check from bank accounts.

Scale indicators3 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Barkan Management Company: Barkan Management is a NYC-focused residential property manager handling co-ops, condos, and rental buildings with a comparable mid-sized positioning and service model to Midboro.
• The Andrews Organization: The Andrews Organization is a long-standing NYC residential property manager focused on cooperatives, condominiums, and rental buildings, with comparable service lines and customer profile to Midboro.
• Halstead Management Company: Halstead Management provides full-service co-op, condo, and rental management across NYC, often paired with Halstead's brokerage arm. It competes head-to-head with Midboro for board mandates and rental owner contracts.
• AKAM Associates: AKAM is a large Northeast residential and mixed-use property manager with deep NYC co-op/condo exposure and a portfolio comparable in scale and service scope to Midboro/FirstService Residential.
• Rose Associates: Rose Associates is one of New York's largest residential property managers, handling luxury co-ops, condos, and rental buildings across Manhattan. It is directly comparable to Midboro/FirstService Residential in customer base, asset class, and NYC focus.
• Cooper Square Realty: Cooper Square Realty is a Manhattan-focused residential property manager serving cooperatives, condominiums, and rental buildings - a direct mid-sized NYC competitor to the Midboro franchise.
• Brown Harris Stevens Residential Management: BHS manages luxury cooperatives and condominiums across NYC, often leveraging its brokerage brand. It competes with Midboro for premium board mandates and luxury condo clients.

Broad incumbents

• FirstService Residential (North American parent platform): FirstService Residential is North America's largest residential property manager and Midboro's parent post-2021. It is a broader incumbent whose portfolio, technology, and procurement scale now wraps the Midboro NYC operation.
• Newmark Residential Management: Newmark provides residential property management services alongside investment sales and capital markets, positioning as a broader incumbent competing for NYC co-op, condo, and rental mandates.
• Cushman & Wakefield Residential Management: Cushman & Wakefield offers residential management services as part of a global commercial real estate platform, competing with Midboro/FirstService on large luxury NYC buildings while serving a much broader institutional client base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 Midboro Management