NEW EMPIRE CORP
New Empire Corp is a privately held NYC-based real estate developer and construction manager founded in 1997, specializing in mid-sized residential mixed-use buildings in Manhattan, Brooklyn, and Queens through a fully vertically integrated ecosystem spanning development, construction, design, manufacturing, brokerage, and fund management.
- Company typePrivate
- Founded1997
- HeadquartersNew York, United States
- Headcount—
- GTM typeB2C
- OfferingServices
What NEW EMPIRE CORP does
New Empire Corp is a privately held New York City-based real estate development and construction management firm founded in 1997. The company specializes in mid-sized residential mixed-use buildings and hotel projects across Manhattan, Brooklyn, and Queens, operating a fully vertically integrated ecosystem that spans real estate fund management (X Capital, CCI Central Development Fund), development, construction (New Empire Builder Corp), architecture and design (Avenue Studio, Building Consulting Engineering & Architecture LLC), custom millwork, windows and doors manufacturing (Weather Seal Windows & Doors), modular construction (Modular X), smart home solutions, real estate brokerage (One Realty Global), and property management. This full industry-chain integration is designed to bypass the traditional Design-Bid-Build model and control cost, quality, and timing across projects. To date the firm has delivered over 120 projects and 2,000+ units, generating cumulative sales value of approximately $1.8 billion.
The company's revenue model combines one-time unit sales (development), recurring property management and asset management fees, construction management professional services, and fund management income from affiliated debt and equity vehicles. It serves a horizontal mix of end customers — first-time buyers, young professionals, accredited real estate investors, and high-income professionals (doctors, finance, design) — at the 'approachable luxury' price band of approximately $750,000 to $2.9 million per unit. Sales distribution relies on partnerships with major brokerages (Nest Seekers International, One Realty Global), direct accredited-investor relations, StreetEasy listings, and dedicated project websites. Active projects include Hendrix House (Kips Bay), Radiant LIC (Long Island City), Centric (Woodside), 757 Flatbush Avenue (Flatbush), 208 Delancey Street, 567 Ocean Avenue, and The Neighborly LIC, with recent acquisitions in Manhattan ($38M Kips Bay portfolio in December 2025; $33.5M Midtown parking garage in July 2026) signaling an explicit expansion into Manhattan. The firm is led by Chairman and CEO Bentley Zhao, who assumed leadership in 2004 and was elected Global President of AIDI in 2026.
NEW EMPIRE CORP firmographics
Firmographics- Name
- NEW EMPIRE CORP
- Legal name
- New Empire Corp
- Website
- https://newempirecorp.com
- Company type
- Private
- Founded year
- 1997
- Operating status
- Operating
- Short description
- New Empire Corp is a privately held NYC-based real estate developer and construction manager founded in 1997, specializing in mid-sized residential mixed-use buildings in Manhattan, Brooklyn, and Queens through a fully vertically integrated ecosystem spanning development, construction, design, manufacturing, brokerage, and fund management.
- Ownership category
- akta.pro rank
Where NEW EMPIRE CORP is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
NEW EMPIRE CORP business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Real Estate Development & Sales: Primary revenue stream from developing mid-sized residential mixed-use buildings and hotel projects in New York City, selling units at completion. Revenue recognized as one-time transaction fees from unit sales.
- Construction Management Services: End-to-end construction management for development projects, providing services to external clients and affiliated entities
- Property Management: Comprehensive property management services including tenant management and asset management for completed properties
- Real Estate Fund Management: Managing debt and real estate funds (X Capital, CCI Central Development Fund) for investor relations and project financing
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Hendrix House (Manhattan Kips Bay): 1-2 bedroom units priced between $1.61M - $2.9M |
| Unit Pricing | Pay-as-you-go | Radiant LIC (Long Island City): One-bedroom units from $870,000 to $1.35 million |
| Unit Pricing | Pay-as-you-go | Centric (Woodside, Queens): 131 one- and two-bedroom condos around $750,000 |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
NEW EMPIRE CORP product offering
Product offeringCore offering
NEW EMPIRE CORP is a New York City-based real estate development and construction management firm that develops, builds, and manages residential real estate projects. The company handles the full lifecycle of real estate projects from site acquisition and development through construction management and ongoing property management. It has built and delivered a portfolio of named residential developments across NYC neighborhoods and provides associated construction and property management services.
Product overview
New Empire Corp is a New York City-based real estate development and construction management firm established in 1997, specializing in mid-sized residential mixed-use buildings throughout NYC. The company operates a comprehensive real estate ecosystem spanning the entire industry value chain, including development, construction management, property management, and investment fund services. Key products include named residential developments such as Hendrix House (Kips Bay, Manhattan), Radiant LIC (Long Island City), Centric (Woodside, Queens), 757 Flatbush Avenue (Brooklyn), 208 Delancey Street, 567 Ocean Avenue, and The Neighborly LIC. The company also operates subsidiaries including New Empire Builder Corp (construction), Avenue Studio (smart home solutions), Weather Seal Windows & Doors (facades), and X-Capital Fund (investment products). With over 120 completed projects and $1.8B in sales value, New Empire positions itself as a technology-driven developer combining smart home technology with functional sustainable design.
Differentiator
Problem solved
Functional benefit
Products and services
- Hendrix House
Quantifiable outcome
- Over 120 mixed-use residential and hotel projects completed in New York City
- +2 more outcomes
Companies that use NEW EMPIRE CORP
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles1 record
NEW EMPIRE CORP technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
NEW EMPIRE CORP partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Nest Seekers InternationalcoreExpert sales team partnered for Radiant LIC development bringing the development to the New York City market.
- One Realty GlobalcorePremier broker client for condo sales; Managing Director Ellen Qian highlighted as key partner in outer borough markets.
- ODA (Obermeyer Architects)coreWorld-renowned architectural firm led by Eran Chen designed Radiant LIC with sculptural 'living facade' and curved terraces.
- DXA New YorkcoreArchitectural firm that designed Hendrix House with innovative design distinguishing it from surroundings.
- Paris Forino InteriorscoreAward-winning interior designer (AD Pro Directory) providing interiors for Radiant LIC and Hendrix House with signature stylistic flair.
- Morali ArchitectureminorArchitectural firm designing 757 Flatbush Avenue eight-story residential building in Flatbush, Brooklyn.
- GFI Realty ServicesminorBrokered the $38 million Kips Bay property sale through Michael Weiser of GFI Realty Services.
- American International Development & Innovation Association (AIDI)coreGlobal nonprofit with 116 chapters; CEO Bentley Zhao elected as Global President. AIDI focuses on connecting capital, projects, and industry leaders across real estate markets.
- Modular XcoreSubsidiary providing modular factory construction and installation, expertise in exterior windows and doors design.
- Avenue StudiocoreSubsidiary providing smart home solutions and customizable prefabricated home design.
- Weather Seal Windows & DoorscoreSubsidiary manufacturing aluminum facade, windows, and doors for New Empire projects.
Scale indicators10 records
Recent moves7 records
Expansion highlights6 records
NEW EMPIRE CORP competitors and assessment
Company assessmentBroad incumbents
- The Durst Organization: One of NYC's largest family-owned developers with a portfolio spanning residential, commercial, and mixed-use product. Overlaps with New Empire in NYC residential condo development but operates at significantly greater scale with a broader portfolio.
Direct peers
- Two Trees Management: Brooklyn-headquartered developer of residential, mixed-use, and office product (notably Domino Sugar Factory in Williamsburg). Highly comparable in targeting outer-borough mid-sized residential and mixed-use development with integrated design vision.
- Slate Property Group: NYC-focused real estate firm with development, investment, and management operations. Comparable in integrated operating model spanning development, construction, and asset management within NYC.
- Gotham Organization: NYC residential developer with a portfolio of mid- and large-scale condominium and rental projects across Manhattan and Brooklyn. Directly comparable in product type and buyer demographic, though typically larger in scale than New Empire projects.
- Continuum Company: NYC luxury condo developer behind projects such as 111 West 57th Street and 100 Vandam. Comparable in luxury boutique condominium positioning, though skews toward ultra-luxury trophy product rather than New Empire's 'approachable luxury'.
- Naftali Group: NYC boutique residential developer focused on luxury condominiums in Manhattan and Brooklyn. Closely comparable in product positioning (luxury boutique condos), target buyer segment, and project size relative to the larger NYC developers.
- TF Cornerstone: NYC-focused residential and mixed-use developer with a long track record of mid- and large-scale rental and for-sale projects across Manhattan, Long Island City, and other outer-borough submarkets — directly comparable footprint and product mix to New Empire's outer-borough condo strategy.
- Magnum Real Estate Group: NYC boutique condo developer specializing in ground-up condominium developments in Manhattan and Brooklyn. Closely comparable in mid-sized boutique condo strategy and target buyer segment.
- DDG (Delshah Capital): NYC-based boutique developer of architecturally distinctive residential buildings. Comparable in design-forward positioning, use of high-profile architects, and focus on differentiated boutique condo product.
- Alfa Development: NYC boutique residential developer with projects concentrated in Manhattan and Brooklyn. Comparable in mid-sized luxury condo strategy and target buyer demographics in similar neighborhoods to New Empire.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
NEW EMPIRE CORP social profiles
Digital presenceNEW EMPIRE CORP financial estimates
Financial estimateRevenue estimate
Valuation estimate
NEW EMPIRE CORP leadership team
Management profileNumber of profiles
Profiles1 record
NEW EMPIRE CORP subsidiaries and ownership
Company hierarchySubsidiaries8 records
NEW EMPIRE CORP funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NEW EMPIRE CORP 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 NEW EMPIRE CORP
What does NEW EMPIRE CORP do?
NEW EMPIRE CORP is a New York City-based real estate development and construction management firm that develops, builds, and manages residential real estate projects. The company handles the full lifecycle of real estate projects from site acquisition and development through construction management and ongoing property management. It has built and delivered a portfolio of named residential developments across NYC neighborhoods and provides associated construction and property management services.
Is NEW EMPIRE CORP a public or private company?
NEW EMPIRE CORP is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was NEW EMPIRE CORP founded?
NEW EMPIRE CORP was founded in 1997.
Where is NEW EMPIRE CORP based?
NEW EMPIRE CORP is headquartered in New York, United States, in the North America region.
How does NEW EMPIRE CORP make money?
Four revenue lines are on record. Real Estate Development & Sales are the primary driver. The others are construction Management Services, property Management and real Estate Fund Management.
Who are NEW EMPIRE CORP's main competitors?
The Durst Organization is listed as a broad incumbent. Direct peers are Two Trees Management, Slate Property Group, Gotham Organization, Continuum Company, Naftali Group, TF Cornerstone, Magnum Real Estate Group, DDG (Delshah Capital) and Alfa Development.
Does NEW EMPIRE CORP have an API?
No public API is recorded for NEW EMPIRE CORP.