Metropolitan Realty Group

Name

Metropolitan Realty Group

Legal name

Metropolitan Realty Group, LLC

Website

https://metreal.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Affordable Housing Development and Property Management

NAICS

Residential Property Managers (531311), Real Estate Property Managers (53131), Lessors of Residential Buildings and Dwellings (531110), Rental and Leasing Services (532)

SIC

Real Estate Agents & Managers (For Others) (6531), Lessors Of Real Property, Nec (6519), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industry

Affordable & Public Housing Asset Management (BPAJAMAI)

Keywords

• Affordable housing development
• Property management services
• HUD Section 8 housing
• Low-income housing
• Multifamily property management

Headquarters

HQ city

Great Neck

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Rental Income: Monthly rental payments from tenants in affordable housing properties. Tenants typically pay 30% of gross income under Section 8/HAP contracts, with the remainder subsidized through HUD Housing Assistance Payment contracts.
2. HUD Subsidies and Tax Credits: Revenue derived from HUD Housing Assistance Payment (HAP) contracts, Low Income Housing Tax Credit (LIHTC) programs, and Mitchell Lama subsidies that support affordable housing operations.
3. Property Management Fees: Fees earned from managing properties for ownership entities, including compliance, tenant relations, and maintenance services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Metropolitan Realty Group acquires, develops, and manages affordable multifamily residential housing properties, primarily serving low-income individuals and families under HUD Project-Based Section 8, Mitchell Lama, and LIHTC programs across the New York metropolitan area and select national markets (Arkansas, Tennessee, Ohio). The company manages the full lifecycle from acquisition and renovation through ongoing tenant leasing, rent collection, regulatory compliance, and capital improvements across a portfolio of 4,500+ units in 64 occupied buildings valued at over $1 billion.

Product overview

Metropolitan Realty Group (MRG) is a New York-based affordable housing developer and property manager offering a portfolio of residential properties across the East Coast and select national markets. The company operates a unified property management platform encompassing affordable housing development, HUD Project-Based Section 8 management, LIHTC property compliance, and capital improvement services. MRG manages approximately 4,500 apartment units across 64 occupied buildings, with properties ranging from New York metro area affordable housing complexes to multifamily assets in Tennessee, Arkansas, and Ohio. The company does not offer a separate software product or SaaS platform—their 'product' is their real estate portfolio and management services.

Differentiator

Problem solved

Functional benefit

Products and services

• Affordable Housing Development

Quantifiable outcome

• Over 1,000 affordable housing units renovated in 2022 alone
• +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

Partnerships

Eleven partnerships are on record, tiered core and minor.

• SVN AdvisorscoreChannel Partner/ Reseller/ Distributor · 15 January 2025SVN Advisors served as the selling broker for the West 135th Street Apartments acquisition, facilitating the transaction for MRG.
• CLK PropertiescoreStrategic or Co-development Partner · 15 January 2025CLK Properties is a key partnership partner in multiple property acquisitions, including West 135th Street Apartments and Lynnfield Place. MRG has completed several acquisitions totaling hundreds of units in partnership with CLK.
• Dr. Richard Barnett FoundationcoreOthersMRG partners with this non-profit providing higher-education scholarships and internship opportunities to motivated NYC youth. The foundation offers educational, mental health, and mentorship programming. MRG founder Scott Jaffee serves on the Board of Directors.
• ABBA Leadership (ABLE BODY OF BELIEVER'S ALLIANCE)minorOthersABBA places difficult-to-employ individuals into the workforce through job readiness and workforce experience training programs. In 2019, ABBA facilitated dozens of job placements and provided 150+ individuals with OSHA training.
• A-List EducationminorOthersA-List provides educational opportunities, primarily college readiness, to underserved youth. Since partnership began in 2013, MRG has provided hundreds of high school students with SAT/ACT tutoring.
• International Sports and Music Project (ISMP)minorOthersISMP increases access to sports and music programs for children in shelters, refugee camps, and schools. During COVID-19, ISMP organized food relief initiatives for families in Rwanda and Uganda.
• Bedford Stuyvesant Restoration CorporationminorOthersRestoration pursues strategies to close gaps in family and community wealth to ensure all families in Central Brooklyn are prosperous and healthy.
• Riverside HawksminorOthersCommunity organization supported by MRG that provides youth development programs in the communities where MRG properties are located.
• UJA Federation of New YorkminorOthersMRG partners with UJA and various affiliated agencies to support community development and social services in New York.
• Henry Kaufmann CampgroundsminorOthersMRG founder Scott Jaffee serves as president of Henry Kaufmann Campgrounds, a charitable organization providing recreational programs. MRG team members have donated pro-bono construction expertise for campground improvements.
• St. Mary's High SchoolminorOthersMRG provides scholarship sponsorship for students at St. Mary's High School as part of educational support initiatives.

Scale indicators9 records

Recent moves7 records

Expansion highlights3 records

Broad incumbents

• The Related Companies: One of the largest US developers of affordable and mixed-income housing, with deep NYC operations including LIHTC and Section 8 portfolios. Operates at materially larger scale than MRG but competes for similar assets and subsidies.

Direct peers

• L+M Development Partners: NYC-based affordable and mixed-income housing developer/manager with a portfolio of tens of thousands of units across LIHTC, Section 8, and market-rate. Closest direct competitor to MRG in scale and regulatory specialization in the NYC metro.
• WinnCompanies: National multifamily owner/manager with significant affordable housing exposure including HUD Project-Based Section 8, LIHTC, and mixed-income properties. Competes directly with MRG for LIHTC allocations and operating contracts.
• Phipps Houses: NYC-based nonprofit developer and manager of affordable and supportive housing using LIHTC, Section 8, and public housing programs. Mirrors MRG's full-lifecycle develop-and-manage model in the same metro.
• Pennrose Properties: National affordable housing developer and manager with a substantial LIHTC portfolio across multiple states, including East Coast metros. Comparable to MRG in business model and HUD/LIHTC specialization.

Emerging players

• Monadnock Development: NYC affordable housing developer of 100% affordable and mixed-income properties leveraging LIHTC and public subsidies. Operates in the same submarkets as MRG but at smaller scale.
• Habitat for Humanity New York City: NYC affiliate focused on affordable homeownership and rental housing for low-income households. Adjacent mission and tenant segment but operates via a different model (largely nonprofit, volunteer-built).

Regional players

• CPC (Community Preservation Corporation): New York-focused nonprofit affordable housing developer and capital provider for multifamily preservation, including Mitchell Lama and project-based Section 8 properties. Directly comparable on regulatory mix and NYC geographic focus.
• The NHP Foundation: National nonprofit owner/operator of affordable and supportive housing using LIHTC and project-based Section 8 contracts. Comparable mission and regulatory mix, with operations in several of the same metros as MRG.

Others

• Greystone (Financing Counterparty/Comparable Operator): Top-tier HUD multifamily lender that provided MRG's $97.6M refinancing and acquisition financing. Listed as an ecosystem peer rather than direct competitor; signals the financing ecosystem that supports MRG's growth.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/metropolitan-realty-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 Metropolitan Realty Group