First Realty Management

Real Estate Property Management Servicesfirstrealtymgt.com

First Realty Management is a family-owned property management firm founded in 1953, serving developers, investors, condominium boards, and property owners across Massachusetts, Rhode Island, and New Hampshire with apartment, condominium, commercial, and construction supervision services.

Company typePrivate
Founded1953
HeadquartersBoston, United States
Headcount251–500
GTM typeB2B
OfferingServices

What First Realty Management does

First Realty Management is a privately held, family-owned property management company founded in 1953 by Max Kargman and headquartered in Boston, Massachusetts, with a regional office in Providence, Rhode Island. The company provides residential apartment management, condominium association management, and commercial property management services to developers, investors, property owners, financial institutions, condominium boards, and community development corporations across Massachusetts, Rhode Island, and New Hampshire. William M. Kargman, grandson of the founder, serves as President and CEO, and the firm holds the Accredited Management Organization (AMO) designation from the Institute of Real Estate Management.

The company's service portfolio spans three core property management lines — apartment management, a condominium division managing 4,000+ residential units across 35+ associations, and commercial property management with 75+ years of stated experience — supplemented by construction supervision, accounting, risk management, marketing, communications, central purchasing, human resources, resident programs, and compliance services. Revenue is generated primarily through management fees scaled to portfolio size and complexity, plus professional service fees for construction supervision and ancillary support work. Pricing is quote-based rather than publicly disclosed, and the go-to-market is sales-led, relying on direct relationships with property owners and developer referrals.

The technology layer is limited to a web-based First Realty Homeowner Portal providing 24/7 real-time access to association information and work order submission, and the CondoCerts platform for condominium resale and lender document requests. The firm maintains industry affiliations with IREM, CAI, NAA, NAHMA, GBREB, and the Rental Housing Association, and has accumulated nearly 40 regional and national awards over the past 10 years across apartment, condominium, mixed-use, and commercial categories. There is no disclosed AI/ML capability, no public API, and no disclosed M&A or funding activity, positioning the company as an established, multi-generational regional operator rather than a venture-backed or technology-led proptech entrant.

First Realty Management firmographics

Firmographics

Name: First Realty Management
Legal name: First Realty Management
Website: https://firstrealtymgt.com
Company type: Private
Founded year: 1953
Operating status: Operating
Headcount range: 251–500 employees
Short description: First Realty Management is a family-owned property management firm founded in 1953, serving developers, investors, condominium boards, and property owners across Massachusetts, Rhode Island, and New Hampshire with apartment, condominium, commercial, and construction supervision services.
Ownership category
akta.pro rank

First Realty Management industry classification

Industry

Product category: Real Estate Property Management Services
NAICS: Real Estate Property Managers (53131), Residential Property Managers (531311)
SIC: Real Estate Agents & Managers (For Others) (6531)
akta.pro primary industry: Condominium Association Management (BPAJAHAA)
akta.pro secondary industry: Affordable Housing Property Management (BPAJAGAJ)

Keywords

Property management services
Residential property management
Condominium association management
Commercial property management
Construction supervision services

Where First Realty Management is headquartered

Location

Headquarters

HQ city: Boston
HQ country: United States
HQ region: North America

Offices2 records

Markets served

First Realty Management business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

Property Management Services: Residential and commercial property management services for apartment communities, condominiums, and commercial properties. Revenue generated through management fees based on property portfolio size and complexity.
Construction Supervision: Construction and build-out supervision services for commercial and residential properties
Additional Support Services: Accounting, risk management, marketing, communications, central purchasing, human resources, resident programs, and compliance services

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

First Realty Management product offering

Product offering

Core offering

First Realty Management provides professional property management services for apartment communities, condominium associations, and commercial properties across Massachusetts, Rhode Island, and New Hampshire. Offerings include full-service residential and commercial property operations, condominium association management, construction and build-out supervision, and ancillary support services such as accounting, risk management, marketing, and compliance. The company supplements these services with two digital platforms — the First Realty Homeowner Portal and CondoCerts — that provide 24/7 online access for homeowners and condominium unit owners.

Product overview

First Realty Management is a family-owned property management company offering a unified platform of real estate management services across three core product lines: Apartment Management, Condominium Division, and Commercial Property Management. These core offerings are supported by Construction Supervision services and Additional Support Services (accounting, risk management, marketing, compliance, and resident programs). The company also provides two digital platforms — the First Realty Homeowner Portal for work orders and communications, and CondoCerts for resale and lender document requests — that complement the core management services and provide customers with 24/7 online access to property information and transactions.

Differentiator

Problem solved

Functional benefit

Brands

First Realty Homeowner Portal: Online platform providing real-time association information, communications, property policies, account information, and work order request submission for homeowners.
CondoCerts

Products and services

Apartment Management Residential apartment community management services including property operations, resident services, and portfolio expansion through partnerships with owners, developers, and financial institutions.
Condominium Division Condominium association management with more than 40 years of experience managing 4,000 residential units across more than 35 associations, including customized management programs, financial reporting, preventive maintenance, and capital improvements.
Commercial Property Management Commercial space management covering lease administration, facilities management, construction supervision, tenant relations, and financial reporting for investors and lenders. Tenants served include H&R Block, Comcast, Verizon, CVS, Domino's, government agencies, nonprofits, and small businesses.
Construction Supervision Construction and build-out supervision services including contract coordination, specifications development, cost estimation, and oversight of site development and maintenance.
Additional Support Services Ancillary property management services including accounting, risk management, marketing, communications, central purchasing, human resources, resident programs, and compliance.
First Realty Homeowner Portal Online platform providing 24/7 real-time access for homeowners to association information, communications, property policies, account information, and work order request submission.
CondoCerts Online platform providing condominium unit owners around-the-clock access to request resale and lender documents during property refinancing or sales transactions.

Quantifiable outcome

4,000+ residential units managed at 35+ condominium associations
+2 more outcomes

Companies that use First Realty Management

Customer profile

Named customers8 records

Segments7 records

Ideal customer profiles4 records

First Realty Management technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

First Realty Management partnerships and signals

Strategic signal

Partnerships

Seven partnerships are on record, tiered minor and core.

G5 Search Marketing, Inc.minorImplementation/ SI/ Consulting PartnerThird-party vendor engaged to assist in creating and hosting the company website. Provides website hosting and digital marketing infrastructure support.
Institute of Real Estate Management (IREM)coreStrategic or Co-development PartnerProfessional affiliation providing AMO accreditation - the highest national management company accreditation. Sets trust, credibility, and performance standards for property management companies.
Rental Housing Association (RHA)coreStrategic or Co-development PartnerProfessional affiliation through Greater Boston Real Estate Board for rental housing industry leadership and advocacy.
Community Associations Institute (CAI)coreStrategic or Co-development PartnerProfessional affiliation for condominium and community association management expertise and certifications.
National Affordable Housing Management Association (NAHMA)coreStrategic or Co-development PartnerProfessional affiliation for affordable housing management best practices and advocacy.
National Apartment Association (NAA)coreStrategic or Co-development PartnerProfessional affiliation for multifamily housing industry standards and professional development.
Greater Boston Real Estate Board (GBREB)coreStrategic or Co-development PartnerPrimary industry association for real estate professionals in Greater Boston area, including Rental Housing Association and Real Estate Finance Association chapters.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

First Realty Management competitors and assessment

Company assessment

Direct peers

WinnCompanies: Boston-headquartered property management firm focused on residential, multifamily, and affordable housing across the Northeast, with similar scale, multi-divisional structure, and an institutional and condo portfolio comparable to First Realty's.
The Dolben Company: New England-based real estate investment and property management firm operating multifamily, condominium, and mixed-use assets with comparable regional focus and portfolio approach to First Realty.
Bozzuto Group: Mid-Atlantic-rooted residential property manager and developer with apartment, condominium, and mixed-use management services that directly overlap with First Realty's three core service lines.
Barkan Management Company: Regional property management firm with multiple offices managing residential, condominium, and commercial assets under an HOA/community-association-oriented service model closely comparable to First Realty's offering.
Corcoran Management Company: New England property management firm focused on condominium associations, residential, and select commercial assets — a focused-scale competitor operating in adjacent geographies with a comparable service model.

Broad incumbents

Lincoln Property Company: One of the largest U.S. diversified residential and commercial property managers with a national footprint that competes for institutional, condominium, and developer mandates overlapping with First Realty's service mix.
Greystar Real Estate Partners: Largest U.S. multifamily and student housing property manager with broad geographic reach; competes for the same institutional, developer, and owner relationships that anchor First Realty's GTM in New England.
AvalonBay Communities: Public multifamily REIT with extensive in-house property management across the Northeast U.S., providing scale-driven competition for institutional and developer mandates First Realty pursues.
Cushman & Wakefield: Global commercial real estate services firm with a property management practice that overlaps First Realty's commercial portfolio management and lease administration capabilities.

Regional players

Wingate Companies: Boston-area owner/operator and manager of multifamily, condominium, and student housing assets offering a directly comparable Greater Boston/New England service portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

First Realty Management financial estimates

Financial estimate

Revenue estimate

Valuation estimate

First Realty Management leadership team

Management profile

Number of profiles

Profiles8 records

First Realty Management funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

First Realty Management M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Realty Management

What does First Realty Management do?

Is First Realty Management a public or private company?

First Realty Management is a private company. It is classified as family owned and is currently operating.

When was First Realty Management founded?

First Realty Management was founded in 1953. It employs 251 to 500 people.

Where is First Realty Management based?

First Realty Management is headquartered in Boston, United States, in the North America region.

How does First Realty Management make money?

Three revenue lines are on record. Property Management Services are the primary driver. The others are construction Supervision and additional Support Services.

Who are First Realty Management's main competitors?

Direct peers on record are WinnCompanies, The Dolben Company, Bozzuto Group, Barkan Management Company and Corcoran Management Company. Broad incumbents are Lincoln Property Company, Greystar Real Estate Partners, AvalonBay Communities and Cushman & Wakefield. Wingate Companies is listed as a regional player.

Does First Realty Management have an API?

No public API is recorded for First Realty Management.

What industry is First Realty Management in?

First Realty Management's product category is Real Estate Property Management Services. Its primary akta.pro industry code is BPAJAHAA, Condominium Association Management, with a secondary code of BPAJAGAJ, Affordable Housing Property Management. Its NAICS code is 53131 and its SIC code is 6531.