Kearney Realty & Development Group

What Kearney Realty & Development Group does

Kearney Realty & Development Group is a privately held, family-controlled real estate development and property management firm founded in 1996 and headquartered in Somers, New York. The company develops, constructs, owns, and manages a diversified residential and mixed-use portfolio across New York State, with a primary focus on affordable, mixed-income, supportive, senior, veteran, and artist housing, plus complementary market-rate and workforce units. Its wholly-owned subsidiary, Tern Construction & Development, provides in-house general contracting with LEED certification experience, enabling a vertically integrated development-to-management model. To date, Kearney Group has completed more than $315 million of mixed-use, residential, and commercial developments and currently manages over 1,300 housing units, with a disclosed pipeline of more than $150 million of additional projects.

The firm monetizes primarily through long-term ownership and rental income from affordable (LIHTC-restricted), middle-income, workforce, market-rate, and senior units, supplemented by commercial and retail rents within mixed-use developments (including Crossroads Plaza, Queen City Lofts, and Lofts on Main). A secondary revenue stream comes from Tern Construction & Development's construction services, performed largely on Kearney Group's own projects but with broader capability. Go-to-market is relationship-driven rather than transactional: Kearney secures project capital and land via public-private partnerships with New York State housing agencies, NYS DEC, county and municipal governments, Regional Economic Development Councils, and LIHTC syndicators, then partners with mission-aligned nonprofit organizations such as Abilities First, Rehabilitation Support Services, and Housing Action Council to source tenants and deliver supportive services. Direct leasing to residents is handled through on-site property management and partner referrals.

The company has expanded geographically beyond its Hudson Valley base into upstate New York markets including Poughkeepsie, Beacon, Peekskill, Pawling, Hopewell Junction, Yorktown, Red Hook, Lockport, Rome, Oneonta, and Liberty. It has committed to LEED certification on all future developments since 2014, has earned NYSAFAH's top upstate honor and a Westchester Municipal Planning Federation award (both 2019), and operates without disclosed external institutional investment or public-market listing.

Name

Kearney Realty & Development Group

Legal name

Kearney Realty & Development Group, Inc.

Website

https://kearneyrealtygroup.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Kearney Realty & Development Group is a family-owned, vertically integrated New York State real estate developer and property manager specializing in affordable, mixed-income, senior, veteran, supportive, and artist housing, with a $315M+ completed portfolio and 1,300+ managed units.

Ownership category

akta.pro rank

Product category

Affordable Housing Development

NAICS

Land Subdivision (2372), Real Estate Property Managers (53131), Lessors of Residential Buildings and Dwellings (531110), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Residential Affordable Housing Development & Construction (IMAFABAI)

akta.pro secondary industries

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

Keywords

• Affordable housing development
• Mixed-income housing
• Real estate development
• Property management services
• Residential construction

Headquarters

HQ city

Baldwin

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Rental Income: Kearney Group develops and holds long-term ownership of residential properties, generating recurring rental income from affordable senior, workforce, veteran, supportive, middle-income, market-rate, and artist housing units. The company manages over 1,300 units across New York State.
2. Commercial Retail and Office Leasing: Kearney Group leases commercial and office space within mixed-use developments. Examples include Crossroads Plaza (retail and office tenants such as Green's Natural Foods, Keller Williams Realty, Purple Orchid Salon), and Queen City Lofts (commercial tenants including FITSOCIAL fitness gym, Green's Natural Foods, and Zeus Brewing restaurant/brewery).
3. Construction Services (Tern Construction & Development): Tern Construction & Development, a subsidiary of Kearney Realty & Development Group, is a full-service construction company that performs construction work on Kearney Group developments including LEED-certified, multi-family, mixed-use, commercial, and brownfield remediation projects.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Kearney Realty & Development Group is a diversified real estate development and property management firm that develops, constructs, owns, and operates affordable, mixed-income, and market-rate residential apartment communities, plus select commercial properties, primarily in New York State. Construction services are delivered through its wholly owned subsidiary, Tern Construction & Development, and the firm partners with not-for-profit organizations and government agencies to deliver supportive and workforce housing.

Product overview

Kearney Realty & Development Group is a diversified real estate development and property management firm founded in 1996, specializing in innovative, affordable, mixed-income, and downtown revitalization developments throughout New York State. The company operates through two primary offerings: real estate development services (including historic rehabilitation, new construction, mixed-use, and mixed-income residential projects) and property management for its housing portfolio. Their subsidiary, Tern Construction & Development, provides full-service construction including LEED certifications. The company has completed over $315 million worth of developments with a pipeline of over $150 million in additional projects. Key developments include Queen City Lofts (Poughkeepsie), Lofts on Main (Peekskill), West End Lofts (Beacon), Harrison Lofts (Lockport), and various senior, workforce, supportive, veteran, and artist housing communities throughout New York State. All future developments since 2014 are committed to LEED certification.

Differentiator

Problem solved

Functional benefit

Products and services

• Wynwood Oaks Residential apartment community located in Yorktown Heights, NY, serving as one of the firm's foundational affordable housing developments.
• Red Hook Commons Phase I First phase of an affordable housing community developed in Red Hook, NY, serving as the inaugural phase of the Red Hook Commons project.
• Red Hook Commons Phase II Second phase of the Red Hook Commons affordable housing community in Red Hook, NY, expanding the original development.
• The Hamlet at Pawling Residential apartment community located in Pawling, NY, developed as part of the firm's affordable housing portfolio.
• Lofts on Main Mixed-use, live/work community in Peekskill, NY, featuring artist live/work apartments developed in partnership with Hudson Valley MOCA to support the local arts community.
• Crossroads Plaza Premier commercial building in Somers, NY, hosting retail (Green's Natural Foods), real estate brokerage (Keller Williams), fitness (FITSOCIAL), and restaurant/brewery (Zeus Brewing) tenants.
• Crossroads at Baldwin Place Residential apartment community in Somers, NY, located in conjunction with the firm's Crossroads Plaza commercial property.
• Queen City Lofts Residential apartment community in Poughkeepsie, NY, completed and recognized with affordable housing industry awards.
• West End Lofts Residential apartment community in Beacon, NY, representing the first phase of the West End Lofts development.
• West End Lofts II Second phase of the West End Lofts residential development in Beacon, NY, expanding the community's unit count and amenities.
• Chestnut Street Apartments Recently completed residential apartment community in Liberty, NY, expanding the firm's affordable housing footprint into Sullivan County.
• Highridge Gardens Residential apartment community in Poughkeepsie, NY, completed as part of the firm's affordable housing portfolio.
• The Mews at Hopewell Junction Residential apartment community in Hopewell Junction, NY, completed with LEED Silver certification for sustainable design and construction.
• The Mews II at Baldwin Place Second phase of The Mews residential community in Baldwin Place, NY, expanding the firm's Somers-area portfolio.
• The Mews at Baldwin Place Original residential apartment community in Baldwin Place, NY, located near the firm's corporate headquarters.
• Pendell Commons Residential apartment community in Poughkeepsie, NY, part of the firm's affordable housing portfolio in the Hudson Valley.
• Poughkeepsie Commons Residential apartment community in Poughkeepsie, NY, contributing to the firm's affordable housing concentration in the city.
• Hidden Meadow at Somers Newly constructed residential apartment community in Somers, NY, expanding the firm's portfolio in northern Westchester County.
• Harrison Lofts Mixed-use historic rehabilitation project in Lockport, NY, currently under development, involving adaptive reuse of a historic structure for residential and commercial use.
• Crannell Square Residential apartment community in Poughkeepsie, NY, currently under construction as part of the firm's development pipeline.
• Dietz Street Lofts Residential apartment community in Oneonta, NY, currently under development, extending the firm's footprint into Otsego County.
• Copper City Lofts Residential apartment community in Rome, NY, part of the firm's affordable housing portfolio in Oneida County.
• The Woods at Pawling Residential apartment community in Pawling, NY, currently under construction, complementing the firm's existing Hamlet at Pawling development.
• Tern Construction & Development Wholly owned construction subsidiary providing in-house construction services for Kearney Realty & Development Group's development pipeline and select third-party projects.
• Property Management Services Ongoing property management services delivered across the firm's portfolio of more than 1,300 owned and managed residential units, covering leasing, maintenance, and tenant relations.

Quantifiable outcome

• Over $315 million in completed mixed-use, residential, and commercial developments throughout New York State
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Abilities FirstcoreStrategic or Co-development PartnerThe Mews at Hopewell Junction was developed in partnership with Abilities First. Abilities First provides on-site support services and case management for 22 of 89 affordable apartments set aside for individuals with developmental disabilities. This is a strategic co-development and service-delivery partnership.
• Housing Action CouncilcoreStrategic or Co-development PartnerHousing Action Council partnered with Kearney Group on The Mews at Baldwin Place and The Mews II at Baldwin Place. HAC processes rental applications for affordable senior units at these properties and serves as a referral and service partner for affordable housing programs.
• New York State Department of Environmental Conservation (DEC)coreStrategic or Co-development PartnerKearney Group worked with NYS DEC, the Brownfields Remediation Program, and the Village of Red Hook to reclaim and repurpose a previously abandoned and contaminated brownfield site for Red Hook Commons Phase I (developed 2006-2008).
• Village of Red HookcoreStrategic or Co-development PartnerPartnership with the Village of Red Hook on Red Hook Commons Phase I, developed on a county-owned brownfield site. The village was a key stakeholder in the adaptive reuse of the contaminated property.
• Rehabilitation Support Services, Inc. (RSS)coreStrategic or Co-development PartnerHighridge Gardens was developed in partnership with RSS. Highridge combines 24 units of workforce housing with 50 congregate supportive housing units. RSS provides on-site staff that manage the building and tenant needs, delivering person-centered rehabilitation services.
• Castagna RealtycoreStrategic or Co-development PartnerThe Hamlet at Pawling was developed in partnership with Castagna Realty as part of the approved Planned Development, The Castagna Commerce Park. The project includes mixed-use, market rate senior housing, affordable senior housing, assisted living, medical, and commercial components.
• Hartwick CollegeminorStrategic or Co-development PartnerDietz Street Lofts in Oneonta, NY will be home to the Hartwick College Grain Innovation Center, which will serve as a regional source for studying the quality of potential wheat cultivars for whole grain milling and baking. This adds an educational/innovation component to the mixed-use development.
• Rehabilitation Support Services, Inc. (RSS)coreStrategic or Co-development PartnerChestnut Street Apartments in Liberty, NY is developed through a partnership with Rehabilitation Support Services. RSS provides on-site person-centered rehabilitation services that foster wellness and recovery in a safe and quality environment for supportive housing and workforce housing residents.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Conifer Realty: Conifer Realty is a Northeast-based developer, owner, and manager of affordable, mixed-income, and supportive housing with strong NY footprint. Comparable on full-lifecycle model and LIHTC-driven affordable housing pipeline.
• Douglaston Development: Douglaston Development is a New York-based developer of mixed-income and affordable housing, including supportive and senior housing. Comparable on integrated development-construction model and LIHTC-driven pipeline in NY.
• Pennrose: Pennrose is a national developer and manager of affordable, mixed-income, and market-rate multifamily housing, with active NY operations. Comparable on integrated develop-build-manage approach and LIHTC-funded mixed-income product.
• BRP Companies: BRP Companies is a New York-based affordable, mixed-income, and supportive housing developer with active LIHTC-funded projects in the Hudson Valley and upstate NY. Strong direct comparable on geography, product type, and public-private partnership model.
• Monadnock Development: Monadnock Development is a New York-based affordable and supportive housing developer with a focus on sustainable building and adaptive reuse. Comparable on affordable housing focus, mixed-use product, and green-building commitment in NY.
• The Arker Companies: The Arker Companies is a New York-based developer of affordable, supportive, and senior housing, including mixed-finance projects with NYC and NYS HCR. Comparable on affordable/supportive product mix and public-private partnership model.
• L+M Development Partners: L+M Development Partners is a New York-based affordable, mixed-income, and market-rate housing developer with a similarly integrated development and construction model. It is the closest direct comparable to Kearney Group in terms of NY geography, LIHTC reliance, and mixed-income product focus.
• WinnCompanies: WinnCompanies is a national affordable and mixed-income housing developer and property manager with significant NY presence. Comparable on integrated development, construction, and property management plus LIHTC reliance.

Broad incumbents

• The Related Companies: The Related Companies is a major New York-based real estate developer with significant affordable and supportive housing activity through Related Affordable. It dwarfs Kearney in scale and operates across multiple property types and geographies, but overlaps materially on affordable/mixed-income development in NY.

Others

• Supportive Housing Network of New York: Supportive Housing Network of New York is a statewide membership association of nonprofit supportive housing providers that partners with developers like Kearney Group on service-delivery and policy. While not a direct competitor, it is a key ecosystem enabler shaping the supportive housing market in which Kearney competes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/kearney-realty-development-group

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 Kearney Realty & Development Group