Name

KPG FUNDS

Legal name

KPG Funds

Website

https://kpgfunds.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment

NAICS

Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Private Markets Fund of Funds (PE / VC / Private Credit FoF) (FSAHAKAF)

Keywords

• Commercial real estate investing
• Value-add real estate
• Boutique office repositioning
• Real estate private equity
• Manhattan office development

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund Management Fees and Carry: KPG manages fully discretionary institutional vehicles that are privately held and management-owned. The firm earns management fees and performance-based carried interest from its fund investors, targeting special situations in middle-market office properties in NYC.
2. Property Rental and Lease Income: As an owner and operator of office and retail properties, KPG generates rental income from tenants across its portfolio of repositioned Class A boutique buildings in Manhattan.
3. Real Estate Development and Value-Add Returns: KPG purchases architecturally significant but aging Class B and C properties, converts them to modern Class A, and generates returns through capital appreciation and strategic re-tenanting.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

KPG Funds is a value-add real estate private equity firm that acquires architecturally significant but aging Class B and C office and retail properties in Manhattan and repositions them into modern Class A boutique buildings. The firm manages fully discretionary institutional investment vehicles, earns management fees and performance-based carried interest, and operates a vertically integrated platform spanning Design, Development, and Management of its owned properties.

Product overview

KPG Funds is a value-add real estate investment manager operating as a fully integrated platform with three core service lines: Design, Development, and Management. The company purchases architecturally significant but aging Class B and C properties and converts them to modern Class A buildings. Their portfolio includes boutique office and retail developments across Manhattan, with flagship properties including L'Atelier at 446 Broadway (awarded Best Office Development 2022), The Crosby at 40 Crosby, and Le Gallerie at 132 West 14th, among others. KPG's design-forward approach attracts modern workforce tenants through cutting-edge but practical improvements, with properties featuring smart building technology such as smartphone entry and app-controlled elevators.

Differentiator

Problem solved

Functional benefit

Brands

• L'Atelier: Luxury boutique office brand for 446 Broadway property featuring modern design-forward spaces with smart app-enabled access
• Le Gallerie
• The Crosby

Products and services

• KPG Design Collaborative design service working with top designers to provide tenants with unique but functional bespoke workplace experiences, underpinning KPG's repositioning platform.
• KPG Development Vertically integrated development service overseeing projects through design, development, management, and leasing with precision and direct management, targeting architecturally significant but aging Class B and C properties requiring significant capital and modern design.
• KPG Management Property and asset management service optimizing property value through detailed transaction and management execution, utilizing superior performance measurement and cash-flow forecasting to inform investors.
• KPG NYC Office Value-Add Fund Fully discretionary private equity fund vehicle for institutional and high-net-worth private investors targeting middle-market NYC office value-add investments. $200 million raised per SEC filings with a $5 million minimum investment.
• L'Atelier at 446 Broadway Newly renovated five-story commercial office and boutique retail development in SoHo featuring impeccable finishes, pre-built offices with amenities, and smart building technology including smartphone entry and app-controlled elevator. Awarded Best Office Development 2022 by Commercial Property Executive.
• The Crosby at 40 Crosby Newly renovated boutique luxury office building in SoHo atop prime retail space with Broadway frontage, with office floors ranging from 11,201 to 11,592 square feet.
• Le Gallerie at 132 West 14th Newly renovated seven-story commercial office in Greenwich Village featuring KPG's signature finishes, retail and office floors with flexible space and natural light.
• Howard x Crosby at 30 Howard Newly renovated commercial office and boutique retail development in SoHo featuring impeccable finishes, pre-built offices with all amenities for immediate occupancy.
• 480 Broadway Luxury retail space on SoHo's most sought-after block with over 23,000 SF of retail space, formerly TopShop's flagship store.
• 141 East Houston New frame development featuring glass perimeter and dynamic courtyard, column-free state-of-the-art workspaces with private terraces.
• 155 Spring Street Boutique space on a busy SoHo thoroughfare.
• 211 East 43rd Midtown East property substantially repositioned with tenant-friendly turn-key pre-built program for full and partial floors.

Quantifiable outcome

• Vacancy rate for small, high-end pre-built space under 5%
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Ackman-Ziff Real Estate GroupcoreOthersSimon Ziff, President of Ackman-Ziff, serves on KPG's Advisory Board. Ackman-Ziff has arranged over $50 billion in debt, mezzanine, and equity financings, providing strategic capital markets guidance.
• Oak Street Real Estate CapitalcoreStrategic or Co-development PartnerLarissa Herczeg, Managing Partner of Oak Street Real Estate Capital, LLC and member of the firm's Investment Committee, serves on KPG's Advisory Board, providing real estate investment expertise and strategic guidance.
• Zelnick MediaminorStrategic or Co-development PartnerStrauss Zelnick, Founder of Zelnick Media and CEO/Chairman of Take-Two Interactive Software, serves on KPG's Advisory Board, contributing expertise across business strategy and media.
• The Kresge FoundationminorStrategic or Co-development PartnerAdrian Ohmer, Investment Director at The Kresge Foundation (which has managed investments for the largest purchaser of retiree healthcare in the US), serves on KPG's Advisory Board, adding depth in impact and institutional investment perspective.
• Stern & Associates (Howard S. Stern)minorStrategic or Co-development PartnerHoward S. Stern, Founder and Principal of Stern & Associates, LLC and former President and Director of Hudson Pacific Properties (a premier California-based office REIT), serves on KPG's Advisory Board.
• NewmarkcoreChannel Partner/ Reseller/ DistributorKPG co-authored a market recovery analysis with Newmark, a major commercial real estate brokerage, indicating an active brokerage and market intelligence partnership for submarket analysis.
• Broadway Soho (Neighborhood Improvement District)minorOthersCEO Gregory Kraut was appointed to the Board of Broadway Soho, a neighborhood improvement district dedicated to improving the downtown Manhattan neighborhood from Broadway to Canal Street. Other board members include Mayor Eric Adams and Manhattan Borough President Mark Levine.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• SL Green Realty: Largest publicly traded office REIT in NYC, focused on Class A Manhattan office properties. A scaled incumbent in the same NYC office submarkets where KPG competes; overlapping tenant base but materially larger balance sheet and broader capital structure.
• Tishman Speyer: Global, vertically integrated real estate owner, developer, and fund manager with a significant NYC office and mixed-use portfolio. Comparable ownership/development model to KPG but at global scale and with a much larger fund platform.
• Vornado Realty Trust: NYSE-listed REIT concentrated in NYC office and Manhattan high-street retail assets. Comparable asset class and geography as KPG, but operates at materially larger scale as a public incumbent.
• Empire State Realty Trust: NYC-focused public REIT owning and operating office and retail properties in Manhattan and the tri-state region, anchored by the Empire State Building. Operates in the same NYC office market as KPG at substantially larger scale.

Direct peers

• RXR Realty: NYC-headquartered real estate owner, operator, and fund manager investing across office, multifamily, and other asset classes in the New York metro. Highly comparable to KPG's vertically integrated NYC-focused real estate platform, with a larger footprint and fund AUM but overlapping tenant base and value-add playbook.
• GFP Real Estate: Long-standing, family-controlled NYC real estate owner and operator with deep concentration in Manhattan office, retail, and multifamily assets. Directly comparable to KPG as a private, owner-operator platform targeting Class B/C value-add repositioning in similar submarkets.
• The Moinian Group: Private, vertically integrated NYC real estate developer and owner-operator focused on office, retail, and mixed-use assets across Manhattan. Directly comparable to KPG's boutique, design-forward repositioning model and Manhattan submarket concentration.
• Savanna: NYC-based real estate investment, management, and development firm focused on office, retail, and mixed-use assets in Manhattan and other gateway markets. Comparable to KPG as a private, owner-operator platform running discretionary value-add strategies.
• RFR Realty: Boutique NYC real estate investment, development, and management firm with a portfolio of Class A office and retail properties in Manhattan. Closely comparable to KPG in scale, geographic focus, and design-led repositioning strategy.

Others

• Ackman-Ziff Real Estate Group: NYC commercial real estate capital advisory and debt placement firm with over $50B in financings arranged; advisory board partner to KPG. Adjacent capital markets intermediary supporting KPG's acquisitions and refinancing activity in NYC.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/kpgfunds
• LinkedInlinkedin.com/company/k-property-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 KPG FUNDS