Actium Development Company

What Actium Development Company does

Actium Development Company is a privately held, New York-based real estate investment and development management firm founded in 1999 by Jeffrey S. Dagowitz and Igor Krnajski. The firm specializes in the acquisition, construction, and repositioning of luxury hospitality, mixed-use, and high-end residential and commercial properties, with individual project values ranging from $30 million to $400 million. Over its history, Actium and its principals have been directly responsible for the acquisition, development, and financing of upscale and luxury hospitality real estate valued in excess of $1 billion, including trophy assets such as The Wall Street Hotel, the Bulgari Hotel Miami (conversion of the Seagull Hotel), the James Chicago, the James Scottsdale, and Le Sereno St. Barths, as well as marquee commercial and residential build-outs for WeWork, Pfizer, KPMG, Apple, and CBS.

The business model combines equity participation as owner-developer with development management and construction management services for institutional tenants and brand operators. Revenue is realized through property sales, development and construction management fees, and long-term ownership of income-producing hospitality assets. The firm's go-to-market is direct-to-client enterprise field sales, engaging property owners, investors, brand partners (e.g., Bulgari, Denihan), and long-term tenants (e.g., WeWork) on complex transactions requiring entitlements, design curation, and construction oversight. Geographic operations span New York, Miami Beach, Chicago, Los Angeles/West Hollywood, Scottsdale, Washington D.C., and St. Barthelemy, with a small team of 11-50 professionals.

The firm competes on the strength of its principals' track records, brand relationships, and design-led execution rather than on technology. There is no disclosed technology platform, AI/ML capability, or proprietary software; differentiation is grounded in 20-25 years of combined founder experience in luxury real estate, brand co-creation (James Hotels, Le Sereno), and a portfolio of record-setting exits and design-recognized properties.

Name

Actium Development Company

Legal name

ACTIUM Development Company

Website

https://actium.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Actium Development is a New York-based, privately held real estate investment and development management firm founded in 1999 that acquires, develops, and repositions luxury hospitality, mixed-use, and high-end residential and commercial projects, primarily serving brand operators, institutional tenants, and investors in major US markets and St. Barthelemy.

Ownership category

akta.pro rank

Product category

Luxury Real Estate Development

NAICS

Real Estate Property Managers (53131)

SIC

Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Commercial Real Estate Asset Management (BPAJAMAB), Residential Real Estate Asset Management (BPAJAMAA)

Keywords

• Luxury hospitality development
• Mixed-use development
• Real estate investment
• Construction management
• Hotel repositioning

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, Technology or R&D, Infrastructure

Revenue model

1. Real Estate Development and Investment: Actium generates revenue through real estate development and investment, acquiring properties, overseeing development or renovation, and selling or operating completed projects. Revenue is realized through property sales, development fees, and long-term ownership of income-producing hospitality assets.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Actium Development Company is a real estate investment and development management firm that acquires, develops, and repositions luxury hospitality and mixed-use projects in select markets. The firm provides turn-key development solutions, including land assemblage, construction management, gut renovation, and project delivery, serving property owners, investors, and long-term tenants on complex, design-driven projects.

Product overview

Actium Development Company is a real estate investment and development management firm offering a diversified portfolio of hospitality, residential, and commercial development services. The company specializes in luxury hotel development (including The Wall Street Hotel, James Hotels, Bulgari Hotel Miami, Le Sereno St. Barths), mixed-use projects with WeWork/WeLive, and high-rise residential and commercial developments primarily in New York, Miami Beach, Los Angeles, and Chicago. The company's services include development management, construction management, land assemblage, gut renovations, and repositioning of complex real estate projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Development Management End-to-end development management for luxury hospitality, mixed-use, residential, and commercial real estate, spanning acquisition, entitlements, design curation, construction oversight, and disposition on behalf of property owners, investors, and long-term tenants.
• Luxury Hospitality Development Owner-developer and development management services for luxury hotel conversions, gut renovations, and repositioning of hospitality properties, delivered to investors, brand operators, and high-end hotel groups.
• Mixed-Use Development Management Development management of complex mixed-use and office-to-residential conversion projects, including gut renovation of underwater office towers and delivery of new infrastructure for tenant-led concepts.
• Luxury Residential Development Construction and development management of luxury residential condominium high-rises, including ground-up new build and office-to-rental or rental-to-condominium conversion projects.
• Commercial Construction Management Construction management of commercial office, retail, and broadcast buildouts for corporate headquarters and flagship retail tenants, including multi-floor restacks, lobby renovations, and tenant improvements.

Quantifiable outcome

• The James Chicago sold for highest price per key ever in Chicago
• +3 more outcomes

Named customers6 records

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

Six partnerships are on record, tiered core, major and minor.

• James Hotel GroupcoreStrategic or Co-development PartnerJeffrey S. Dagowitz was one of the founding partners of the James Hotel Group in 2002, establishing hotels and properties in five largest US hospitality markets (New York, Chicago, Miami, Los Angeles, Scottsdale) with total asset value of approximately $450 million.
• Denihan HospitalitymajorStrategic or Co-development PartnerDenihan Hospitality acquired the James Group and its management company in 2008. Igor Krnajski joined Denihan as Head of Development, overseeing more than $375 million of renovation and redevelopment projects including repositioning of over 2,000 hotel rooms.
• Bulgari Hotels & ResortsmajorStrategic or Co-development PartnerActium was owner developer of the Seagull Hotel Miami Beach which was converted to the Bulgari Hotel Miami through a complex assemblage and $200M conversion to super-luxury Bulgari Hotel.
• WeWorkmajorChannel Partner/ Reseller/ DistributorActium served as Development Manager for WeWork on multiple projects including WeLive 110 Wall ($95M gut renovation) and WeWork/WeLive Crystal City, Washington D.C. ($60M gut renovation), overseeing development of underwater office tower and office-to-residential conversions on behalf of long-term tenant WeWork.
• Starwood Hotels & Resorts WorldwideminorStrategic or Co-development PartnerJeffrey S. Dagowitz previously held position as Senior Manager, Acquisitions & Development for Starwood Hotels & Resorts Worldwide before founding Actium Development.
• Morgan's Hotel GroupminorStrategic or Co-development PartnerJames Hotel Scottsdale was sold to Morgan's Hotel Group for 2x multiple on cost, demonstrating successful exit from hotel development partnership.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Highgate Hotels: National luxury hotel operator and investor with active NYC and Miami luxury repositionings. Adjacent as both counterparty and competitor for branded luxury hospitality mandates.
• RFR Holding: NYC-based commercial real estate investor/developer with deep trophy hotel and office portfolio. Comparable track record in luxury hotel transactions but operating at scale and as principal investor.
• Related Companies (Hospitality & Mixed-Use): Large diversified developer with luxury hospitality (Faena) and major mixed-use developments. Overlaps with Actium's trophy repositioning and mixed-use expertise but at massive scale (e.g., Hudson Yards).

Direct peers

• HFZ Capital Group: NYC-focused luxury residential and mixed-use developer known for large-scale condominium towers and complex assemblages. Comparable market focus on trophy NYC real estate and high-end repositioning.
• Midtown Equities: Owner-developer of trophy hospitality and residential assets including the Standard Hotel conversions. Comparable boutique developer of design-forward, high-end repositioning projects.
• Naftali Group: New York-based luxury residential and hospitality developer with similar boutique profile, executing design-driven ground-up and conversion projects for ultra-high-end buyers and brand partners.
• Millennium Partners: Boutique luxury residential high-rise developer in NYC (Millennium Tower, 111 West 57th). Highly comparable in scale and focus on design-forward luxury condominium product.
• The Witkoff Group: Owner-developer of luxury hospitality (Witkoff's Delano, 1 Hotel) and mixed-use projects. Overlaps with Actium on branded luxury hotel repositioning in NY and Miami Beach.
• Gotham Organization: NYC-focused luxury residential developer specializing in ground-up condominium towers and complex conversions such as 200 East 83rd and 212 West 18th Street. Similar luxury-vertical, design-driven business model.

Others

• Denihan Hospitality: Former employer of co-founder Igor Krnajski and acquirer of the James Hotel Group. Operates as a hotel owner/operator that Actium developed for; peer-as-counterparty given shared deal history and platform compatibility.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Actium Development Company