What Alfa Development does

Alfa Development is a privately held, family-owned New York City real estate development and property management firm specializing in LEED-certified luxury residential condominiums, with select forays into hospitality and cultural programming. Founded and led by CEO Michael Namer alongside family members Matthew, Jake, and David Namer in executive roles, the company has completed more than 20 residential projects across Manhattan neighborhoods including Gramercy Park, Chelsea, West Village, East Village, Nolita, and SoHo since its inception. The company's strategic centerpiece is The Green Collection, a series of LEED-Gold targeted buildings launched in 2007 with Village Green (311 East 11th Street) and culminating in 2017 with 200 East 21st Street; certified LEED-Gold buildings include Village Green and Chelsea Green, with 199 Mott Street achieving LEED Silver.

The business operates three revenue streams: one-time condominium unit sales of LEED-certified residences to affluent buyers; recurring rental income managed through Alfa Development Management LLC (with leasing via Bond New York exclusives); and subscription-style hotel revenue from HGU New York Hotel. Architectural design is delivered through a strategic partnership with KBA Architects, and the company invests in brand differentiation via Gallery 151, a Chelsea-based contemporary art gallery active since December 2007 that hosts emerging NYC artists and runs the Urban Green Initiative for sustainability-themed programming. The company markets through its project showcase website, gallery exhibitions, and the HGU "Artists We Know" video and podcast series, and provides an acquisitions and dispositions contact signaling active portfolio recycling. There is no disclosed external institutional capital, no funding rounds, no app or API platform, and no AI or data-product layer — Alfa competes on physical product quality, certified sustainability credentials, and a family-driven relationship network in downtown NYC.

Name

Alfa Development

Legal name

Alfa Development

Website

https://alfadm.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Alfa Development is a family-owned New York City real estate developer specializing in LEED-certified luxury residential condominiums and rental properties across downtown Manhattan neighborhoods, with additional hospitality operations via HGU New York Hotel and cultural programming through Gallery 151.

Ownership category

akta.pro rank

Product category

Sustainable Real Estate Development

NAICS

New Housing For-Sale Builders (236117), New Multifamily Housing Construction (except For-Sale Builders) (236116), Residential Building Construction (23611)

SIC

General Bldg Contractors - Residential Bldgs (1520), Operators Of Apartment Buildings (6513), Hotels & Motels (7011)

akta.pro primary industry

Residential Green / High-Performance Home Construction (Net-Zero, Passive House) (IMAFABAH)

akta.pro secondary industry

Residential Design-Build & Renovation-Integrated Builders (IMAFABAE)

Keywords

• Sustainable real estate development
• LEED-certified buildings
• Luxury condominium development
• Residential property management
• Hospitality property operations

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Condominium Sales: One-time sale of residential condominium units in LEED-certified buildings. Revenue realized upon closing of individual unit sales.
2. Rental Income: Ongoing rental income from residential rental properties under Alfa Development Management LLC.
3. Hospitality Operations: Hotel operations at HGU New York Hotel, an Alfa property in Manhattan.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Alfa Development develops, sells, and manages LEED-certified residential condominium buildings in downtown Manhattan through its signature Green Collection portfolio, with energy-efficient HVAC systems and on-property Wellness Centers. The company also operates the HGU New York Hotel and Alfa Development Management LLC for rental property management and leasing across an archive of more than 20 completed projects.

Product overview

Alfa Development is a New York-based real estate development company operating as a single-platform provider of sustainable residential, commercial, and hospitality properties. The company's core offering is The Green Collection, a portfolio of LEED-certified buildings (launched in 2007) that includes buildings ranging from LEED Silver to LEED Gold certifications. The portfolio spans multiple Manhattan neighborhoods including Gramercy Park, Chelsea, West Village, Nolita, and the East Village. The Green Collection buildings feature shared Wellness Centers and advanced sustainability systems. Beyond property development, Alfa operates Gallery 151 as a platform for emerging contemporary artists and community art projects including the Urban Green Initiative and HGU video series. The company also maintains an archive of over 20 completed residential and hospitality projects across New York City.

Differentiator

Problem solved

Functional benefit

Brands

• Gallery 151: A premier contemporary art gallery situated in the Chelsea neighborhood of New York City. The mission is to support emerging New York-based artists and provide a platform for their talent to be recognized by the public. In 2009, Gallery 151 expanded to include issues of sustainability and environmental responsibility through the Urban Green Initiative.
• The Green Collection
• HGU New York Hotel

Products and services

• The Green Collection A portfolio of LEED-certified residential condominium buildings in downtown Manhattan, including LEED-Gold and LEED-Silver certified properties with shared Wellness Centers. Targeted at affluent NYC residential buyers seeking sustainable luxury housing.
• 200 East 21st Street (Gramercy) Residential condominium building in the Gramercy Park neighborhood, LEED-Gold targeted, designed with a modern narrative inspired by the historic district. The sixth and latest building in The Green Collection.
• Village Green (311 East 11th Street) The company's first LEED-Gold certified residential condominium, representing responsible 21st-century luxury living with energy-efficient amenities and a sophisticated Wellness Center.
• Chelsea Green (151 West 21st Street) LEED-Gold certified residential building featuring world-class design and state-of-the-art systems for energy efficiency, resource conservation, and indoor air quality with emphasis on wellness.
• Village Green West (245 West 14th Street) 12-story LEED-Gold targeted residential building in the West Village/Chelsea area, designed by KBA Architects with Wellness Center amenities and central HVAC with filtered fresh air.
• 199 Mott Street (Nolita) Ground-up LEED-Silver certified residential building in Nolita with eleven exclusive loft residences featuring vintage-modern finishes. Completed Summer 2015.
• HGU New York Hotel Hotel property in Chelsea, Manhattan operated by Alfa Development, offering accommodations with a venue for emerging NYC artists via partnership with Gallery 151 and the HGU Artists video series.
• Alfa Development Management (Rental Property Management) Vertically integrated property management services for rental apartments under Alfa's portfolio, including maintenance, renovation upgrades, and leasing through Bond New York exclusives. Targeted at renters seeking sustainable, well-managed downtown Manhattan housing.
• Chelsea Park (260 West 26th Street) Residential building project in the Chelsea neighborhood of Manhattan, part of Alfa Development's portfolio of completed properties.

Quantifiable outcome

• LEED Gold Certification achieved across multiple buildings (311 E 11 Village Green, Chelsea Green, Village Green West targeting, 200 East 21st targeting)
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• KBA ArchitectscoreStrategic or Co-development PartnerKBA Architects serves as the design firm for multiple Alfa Development projects including Village Green West (245 West 14th Street) and 199 Mott Street, collaborating on sustainable architectural design for LEED-certified residential buildings.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Two Trees Management: Brooklyn-based privately held developer with a strong sustainability focus (Industry City, Domino Sugar project) and comparable mix of residential, commercial, and rental management. Comparable scale and independent/family-style governance.
• Property Markets Group: Miami/NYC luxury condominium developer (Eighty Seven Park, Aston Martin Residencies). Closely comparable in luxury for-sale residential condominium product and direct-to-consumer sales motion in premium urban submarkets.
• Taconic Investment Partners: NYC-focused real estate investment and development firm active in mixed-use, multifamily, and office. Comparable Manhattan mid-market development orientation and direct deal sourcing.
• Gotham Organization: Privately held NYC residential developer with a portfolio spanning luxury for-sale condos, market-rate and affordable rentals. Direct overlap with Alfa's condo-and-rental mix in Manhattan.
• Toll Brothers City Living: Division of Toll Brothers focused on urban luxury for-sale condominiums in NYC and other gateway cities. Comparable premium condo product targeting affluent urban buyers.
• Magnum Real Estate Group: NYC-based privately held developer of residential, hospitality, and mixed-use projects. Similar family-led governance and comparable mid-market NYC development scale.

Broad incumbents

• The Durst Organization: Family-owned NYC real estate firm known for pioneering sustainable, LEED-certified skyscrapers (One Bryant Park, Bank of America Tower). Overlap with Alfa on LEED leadership, NYC geography, and family governance.
• Related Companies: One of the largest US luxury and affordable developers, with deep NYC footprint (Hudson Yards, Abington House). Comparable luxury residential product but at vastly larger scale and with broader mixed-use and affordable-housing mandate.
• Lendlease: Global developer with strong sustainability credentials (targeting net-zero by 2025) and active NYC presence. Comparable LEED/green-building DNA but at global scale and broader product mix.

Others

• Cushman & Wakefield (Property Management): Global commercial real estate services firm with large NYC residential and multifamily property-management practice. Comparable as a peer for Alfa Development Management LLC's rental management business line.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance5 records

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 Alfa Development