What Blumenfeld Development Group does

Blumenfeld Development Group (BDG), founded in 1978 by Edward Blumenfeld and headquartered in Syosset, New York, is a privately held, family-controlled full-service commercial real estate development firm operating across the New York Metropolitan market and along the Eastern Seaboard. The firm controls approximately 4 million square feet of real estate and employs over 50 people across three New York offices. BDG organizes its operations through three integrated subsidiaries: BDG Construction Corp. (construction management and general contracting), BDG Acquisitions (property sourcing and underwriting), and Susan Blumenfeld Interiors, Ltd. / SBI Design (interior commercial design and tenant installations).

The company develops and manages a horizontally diversified portfolio spanning retail (power centers, outlet centers, lifestyle centers), office (multi-tenant and Class A), industrial (warehouses, logistics centers), medical office, multifamily residential, aviation infrastructure, and self-storage assets. Notable redevelopments include the conversion of a 250,000 SF Bulova Watch Corporation manufacturing plant into the 480,000 SF Bulova Corporate Center, the 80-acre Arches outlet center in Deer Park, NY, and the 500,000 SF East River Plaza in Manhattan anchored by Costco, Target, and Mount Sinai Hospital. BDG derives revenue from development fees, construction management fees (as both construction manager and owner's representative), leasing commissions, property management fees, and gains on property sales. Project pricing is custom and quote-based, reflecting the bespoke nature of commercial development.

BDG pursues acquisitions opportunistically, typically sourcing value-add and distressed assets for repositioning, frequently in partnership with institutional capital providers including Goldman Sachs, CH Realty, Declaration Partners, and UBS. Recent strategic transactions include a 2021 acquisition of the 333,000 SF Harvill Logistics Center in Perris, California (subsequently sold for approximately $122 million) and a December 2023 acquisition of two Queens self-storage facilities for $122 million. The firm is self-funded through development profits with no disclosed venture capital or private equity backing, and remains under Blumenfeld family ownership and leadership.

Name

Blumenfeld Development Group

Legal name

Blumenfeld Development Group, Ltd.

Website

https://bdg.net

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

11–50 employees

Short description

Blumenfeld Development Group is a privately held, family-owned full-service commercial real estate developer founded in 1978, controlling approximately 4 million square feet of retail, office, industrial, medical, residential, aviation, and self-storage assets primarily in the New York Metropolitan market and along the Eastern Seaboard.

Ownership category

akta.pro rank

Headquarters

HQ city

Syosset

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Development Fees: Fees earned from developing commercial properties including retail centers, office buildings, industrial facilities, medical offices, and multifamily residential.
2. Property Sales: Revenue from selling developed or redeveloped properties after stabilization.
3. Leasing Commissions: Commercial leasing of office, retail, and industrial spaces managed by the firm.
4. Construction Management: BDG Construction provides construction management services as both construction manager and owner's representative for complex projects.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Blumenfeld Development Group (BDG) is a full-service real estate development firm that manages the entire property lifecycle from site acquisition and entitlement through construction, leasing, and long-term property management. It develops and owns retail, office, industrial, medical, aviation, self-storage, and multifamily residential properties primarily across the New York Metropolitan market and the U.S. eastern seaboard, controlling approximately four million square feet of real estate.

Product overview

Blumenfeld Development Group (BDG) is a full-service real estate development firm offering integrated services through three divisions: BDG Construction Corp. (construction management and general contracting), BDG Acquisitions (property investment services), and SBI Design (interior commercial design). The company develops and manages a portfolio of commercial real estate across multiple property types including retail (power centers, lifestyle centers, outlet centers), office (multi-tenant and Class A facilities), industrial (warehouses, logistics centers), medical facilities, aviation infrastructure, self-storage, and residential properties. BDG operates primarily in the New York Metropolitan market and along the Eastern Seaboard, with approximately four million square feet of controlled real estate.

Differentiator

Problem solved

Functional benefit

Products and services

• BDG Construction Corp. Full-service construction management and general contracting for shopping centers, office buildings, medical facilities, and industrial centers, including redevelopment and repositioning of existing properties for BDG's portfolio and enterprise clients.
• BDG Acquisitions Property acquisition services targeting value-added investments, retail centers, industrial properties, and land for commercial or residential development, accepting submissions via [email protected].
• SBI Design (Susan Blumenfeld Interiors) Interior commercial design services including tenant installations, space planning, and coordination with BDG construction projects. Operated as a wholly-owned subsidiary specializing in commercial interiors.
• Retail Properties Portfolio Regionally significant retail developments including power centers, lifestyle centers, outlet centers, and anchored shopping centers. Leased to national retailers such as Target, Costco, Home Depot, Best Buy, Whole Foods, BJ's Wholesale, and Neiman Marcus Last Call.
• Office Properties Portfolio Multi-tenant office buildings and Class A office facilities, including conversions of industrial buildings to modern office space such as the Bulova Corporate Center and East River Plaza office towers.
• Industrial Properties Portfolio Industrial warehouses, logistics centers, and distribution facilities, including Class A logistics properties in strategic locations such as the Harvill Logistics Center and 1080 Leggett Avenue in the Bronx.
• Medical Facilities Medical office buildings and healthcare facility construction including hospitals, nursing schools, and doctor's offices, with tenants such as Mount Sinai Hospital and Mount Sinai School of Nursing.
• Aviation Facilities Airport hangars, terminal facilities, and aviation-related construction projects at regional airports including the Sheltair Republic Airport Campus, Hawthorne Long Island MacArthur Airport, and Francis S. Gabreski Airport.
• Self-Storage Facilities Self-storage developments including temperature-controlled indoor storage facilities in urban markets, with a focus on growing the self-storage portfolio in the New York metropolitan area.
• Residential Properties Residential developments including condominiums and residential towers, often integrated with retail properties such as the East River Plaza Residential towers designed by TEN Arquitectos and The Smile residential project.

Quantifiable outcome

• Converted 250,000 SF Bulova Watch Corporation manufacturing plant into 480,000 SF Class A office facility (Bolova Corporate Center)
• +3 more outcomes

Named customers22 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• Rechson AssociatescoreStrategic or Co-development PartnerJoint venture partner with BDG on the ground-up development of 48 South Service Road, a 120,000 SF multi-tenant office building in Melville, NY.
• The Daten GroupminorStrategic or Co-development PartnerDevelopment partnership with The Daten Group on Upper Park Avenue project in Manhattan.
• TEN Arquitectos (Enrique Norten)coreTechnology or IntegrationDesign architect for East River Plaza Residential towers. TEN Arquitectos is developing conceptual design studies for iconic residential towers to be built atop the existing retail center in El Barrio, Manhattan.
• 7-ElevenminorStrategic or Co-development PartnerBDG constructed and developed a ground-up two-story multi-tenant office building at 135 Maxess Road and subsequently sold it to 7-Eleven.
• Tanger BrandscoreStrategic or Co-development PartnerTanger brand outlet stores at The Arches in Deer Park - Long Island's first green retail development combining discount and outlet shopping with entertainment.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• RXR Realty: Private, New York-based full-service real estate owner, operator, and developer with a diversified portfolio across office, retail, multifamily, and industrial — closely comparable to BDG's integrated development platform and geographic focus.
• Taconic Investment Partners: New York-based diversified real estate investment and development firm operating across office, retail, multifamily, and life sciences in NY metro and select U.S. markets — comparable in size, asset-class breadth, and full-service development model.
• The Georgetown Company: Privately held New York real estate investment and development firm with a multi-decade track record in office, retail, hotel, and mixed-use redevelopments — similar full-service, owner-operator profile and East Coast geographic focus.
• The Witkoff Group: Family-owned, New York-based full-service real estate developer active in ground-up development, repositioning, and ownership of office, retail, hotel, and residential assets — comparable vertically-integrated model and family-led governance.
• Silverstein Properties: Privately held New York developer focused on ground-up commercial office, residential, and mixed-use developments with an integrated ownership and operating model — comparable scale, NYC focus, and full-lifecycle development approach.

Broad incumbents

• The Related Companies: One of the largest privately-owned diversified real estate developers in the U.S., with a portfolio spanning affordable and market-rate housing, office, retail, and mixed-use — overlaps BDG's development model but operates at meaningfully greater scale.
• Vornado Realty Trust: Public REIT concentrated in New York office and high-street retail assets — competes with BDG for tenants and capital in the NY metro market but operates as a publicly-traded REIT with significantly larger scale and disclosure.
• SL Green Realty Corp. Manhattan's largest office landlord and a full-service real estate investment trust with development, ownership, and asset management capabilities — overlaps with BDG's NYC Class A office focus but operates at substantially greater scale as a public REIT.
• Tishman Speyer: Global, full-service real estate owner, developer, and operator with major exposure to office, life sciences, and mixed-use assets — comparable full-lifecycle capabilities but at multinational scale and breadth.

Others

• Newmark Group: Public commercial real estate services firm offering investment sales, leasing, and capital markets advisory — adjacent ecosystem participant that competes for some of BDG's leasing commissions and tenant relationships rather than for development capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Blumenfeld-Development-Group-177942475566489

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 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 Blumenfeld Development Group