Klosed Properties
Klosed Properties is a family-owned, vertically integrated commercial real estate firm that acquires and repositions underperforming retail, mixed-use, and multifamily properties in the New York Metro area, with $500M+ in AUM across 90+ assets.
- Company typePrivate
- Founded2007
- HeadquartersGreat Neck, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Klosed Properties does
Klosed Properties is a family-owned, vertically integrated commercial real estate investment firm founded in 2007 by Steven Kashanian and headquartered in Great Neck, New York. The company acquires and repositions underperforming, distressed, or value-add commercial properties — primarily retail, mixed-use, and multifamily assets — in the New York Metro area and select national markets, with transaction sizes ranging from $1 million to $100 million. Since 2008 it has deployed more than $265 million in capital, completed 115+ transactions, and built a portfolio of 90+ assets representing $500M+ in assets under management and $450M+ in transaction volume.
Operations are delivered through a wholly owned sub-brand stack under the Bluesky Group umbrella: Bluesky Management (property management), Bluesky Development (construction, rehabs, ground-up builds), Bluesky Leasing (leasing and marketing), and Bluesky Living (student housing near Fordham University). The firm generates revenue through three streams — recurring rental income on stabilized and value-add properties, gains on disposition of repositioned assets, and vertically integrated asset management and construction fees. Its go-to-market is sales-led and relationship-driven: deal sourcing relies on industry reputation, broker relationships, and a proprietary nationwide market-analysis platform that allows granular review of U.S. retail submarkets.
In 2023 the firm incorporated the Klosed Opportunistic Fund, extending its capital base beyond the family balance sheet and positioning for third-party LP capital. Leadership has been deliberately institutionalized, with dedicated CFO, COO, Head of Asset Management, and multiple acquisition executives. Most recent disclosed activity includes a 2026 co-investment with Namdar Realty Group on a $23.5 million fully-leased retail building in Manhattan's Meatpacking District.
Klosed Properties firmographics
Firmographics- Name
- Klosed Properties
- Legal name
- Klosed Properties
- Website
- https://klosedproperties.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Klosed Properties is a family-owned, vertically integrated commercial real estate firm that acquires and repositions underperforming retail, mixed-use, and multifamily properties in the New York Metro area, with $500M+ in AUM across 90+ assets.
- Ownership category
- akta.pro rank
Klosed Properties industry classification
Industry- Product category
- Commercial Real Estate Investment
- NAICS
- Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Real Estate (5311)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Lessors Of Real Property, Nec (6519), Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest) (FSAAADAH)
Keywords
Where Klosed Properties is headquartered
LocationHeadquarters
- HQ city
- Great Neck
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Klosed Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Revenue model
- Property Rental Income: Revenue generated from leasing retail, mixed-use, and multifamily properties in their portfolio.
- Property Sale/Flipping: Profit from acquiring underperforming properties, repositioning them, and selling at higher valuations. The company targets distressed assets and value-add opportunities.
- Asset Management Fees: Revenue from managing assets through their vertically integrated platform, including property management, leasing, and construction services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Transaction sizes ranging from $1M to $100M |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Klosed Properties product offering
Product offeringCore offering
Klosed Properties is a family-owned, vertically integrated commercial real estate investment firm that acquires, repositions, and manages underperforming retail, mixed-use, and multifamily properties in the New York Metro area and select national markets. The firm invests in both stabilized income-producing assets and value-add opportunities, with transaction sizes ranging from $1,000,000 to $100,000,000 and the company closing up to 15 deals per year. Vertically integrated sub-brands handle property management, construction/renovation, leasing, and student housing operations.
Product overview
Klosed Properties is a family-owned, vertically integrated real estate investment firm operating as a single unified platform with several specialized sub-brands. The core business focuses on acquisition and repositioning of commercial properties (retail, mixed-use, multifamily) in New York Metro and select national markets. The vertically integrated structure includes Bluesky Management (property management), Bluesky Development (construction/rehabilitation), Bluesky Living (student housing), and Bluesky Leasing (leasing services). The Klosed Opportunistic Fund, launched in 2023, targets distressed and value-add investment opportunities. Transaction sizes range from $1 million to $100 million, with the company having invested over $265 million since 2008 and closing up to 15 deals annually.
Differentiator
Problem solved
Functional benefit
Brands
- Bluesky Group: Vertically integrated real estate companies under the Klosed Properties umbrella, focusing on top-to-bottom asset management.
Products and services
- Klosed Properties Core Services
Quantifiable outcome
- Closed 115+ successful transactions with up to 15 deals per year
- +2 more outcomes
Companies that use Klosed Properties
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
Klosed Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Klosed Properties partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Namdar Realty GroupnotableJoint acquisition with Namdar Realty Group of a retail building in Manhattan's Meatpacking District for $23.5 million. The property is fully leased to The Puttery, an upscale mini-golf bar. This co-investment indicates active partnership in Manhattan retail investments.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Klosed Properties competitors and assessment
Company assessmentBroad incumbents
- Cammeby's International: Established NYC commercial real estate investment and management firm with a broad portfolio of retail, office, and multifamily assets. Comparable in NYC geographic focus and asset class mix but operates at a larger, more established scale.
Emerging players
- Urban Edge Properties: Public REIT focused on grocery-anchored shopping centers in dense urban markets, including NYC metro. Comparable in retail-focused CRE investment thesis targeting high-traffic urban corridors, though operating at significantly larger scale as a public vehicle.
Direct peers
- Slate Property Group: Vertically integrated NYC real estate investor focused on value-add multifamily and mixed-use acquisitions with in-house property management. Direct peer in NYC contrarian/underperforming-asset investing with similar asset class exposure and integrated operating model.
- Black Spruce Management: NYC-focused real estate investment and management firm acquiring and repositioning underperforming multifamily and mixed-use properties. Comparable in vertically integrated structure and contrarian acquisition approach within NYC.
- The Hakimian Organization: Family-owned NYC real estate investment and management firm with a long-standing portfolio of commercial, retail, and multifamily assets. Direct peer given family ownership, NYC metro focus, and value-add repositioning strategy.
- GFP Real Estate: Family-owned NYC commercial real estate owner/operator managing a large portfolio of office, retail, and multifamily assets. Comparable in family ownership, NYC concentration, and full-service vertically integrated platform.
- BHI (Borah Holdings Inc.): NYC-focused commercial real estate investment firm specializing in acquiring, repositioning, and managing retail and mixed-use properties. Comparable in asset class focus and underperforming-asset acquisition strategy.
- TFC (The Forum Companies): NYC-based real estate investment and asset management firm operating across multifamily, retail, and mixed-use assets. Direct peer in NYC contrarian/value-add investing with integrated management capabilities.
- Vanbarton Group: NYC-based private real estate investment and management firm acquiring, developing, and operating commercial, multifamily, and mixed-use assets. Direct peer sharing NYC geographic focus, asset class mix, and vertically integrated operating approach.
- Namdar Realty Group: NYC-focused commercial real estate investment firm actively acquiring retail, mixed-use, and multifamily assets. Klosed co-invested with Namdar on the $23.5M Meatpacking District deal, indicating directly overlapping deal sourcing, geographies, and asset class focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Klosed Properties social profiles
Digital presenceKlosed Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Klosed Properties leadership team
Management profileNumber of profiles
Profiles20 records
Klosed Properties subsidiaries and ownership
Company hierarchySubsidiaries4 records
Klosed Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Klosed Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Klosed Properties
What does Klosed Properties do?
Klosed Properties is a family-owned, vertically integrated commercial real estate investment firm that acquires, repositions, and manages underperforming retail, mixed-use, and multifamily properties in the New York Metro area and select national markets. The firm invests in both stabilized income-producing assets and value-add opportunities, with transaction sizes ranging from $1,000,000 to $100,000,000 and the company closing up to 15 deals per year. Vertically integrated sub-brands handle property management, construction/renovation, leasing, and student housing operations.
Is Klosed Properties a public or private company?
Klosed Properties is a private company. It is classified as family owned and is currently operating.
When was Klosed Properties founded?
Klosed Properties was founded in 2007. It employs 11 to 50 people.
Where is Klosed Properties based?
Klosed Properties is headquartered in Great Neck, United States, in the North America region.
How does Klosed Properties make money?
Three revenue lines are on record. Property Rental Income is the primary driver. The others are property Sale/Flipping and asset Management Fees.
Who are Klosed Properties's main competitors?
Cammeby's International is listed as a broad incumbent. Urban Edge Properties is listed as an emerging player. Direct peers are Slate Property Group, Black Spruce Management, The Hakimian Organization, GFP Real Estate, BHI (Borah Holdings Inc.), TFC (The Forum Companies), Vanbarton Group and Namdar Realty Group.
Does Klosed Properties have an API?
No public API is recorded for Klosed Properties.
What industry is Klosed Properties in?
Klosed Properties's product category is Commercial Real Estate Investment. Its primary akta.pro industry code is FSAAADAH, Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest). Its NAICS code is 531120 and its SIC code is 6532.