Park Row Equity Partners

What Park Row Equity Partners does

Park Row Equity Partners (PREP) is a privately held, multigenerational family-owned multifamily real estate investment firm headquartered at 116 Nassau Street, Suite 800, New York, NY. The firm's origins trace to 1970 when Philip Steinberg purchased property on Park Row in Manhattan's Financial District; the business is now led by Alan Steinberg (President & CEO) alongside his three sons Phil, Donny, and Ira, with a small team (1-10 employees) and over fifty years of real estate investment history. The firm operates a multifamily real estate syndication platform, acquiring underperforming multifamily properties across the United States and executing value-add repositioning strategies (interior renovations, amenity upgrades, operational improvements) to generate projected IRRs of 12-19% across the portfolio.

The company's portfolio comprises 35+ multifamily properties encompassing 2,307 units across 8+ states (AZ, FL, GA, IL, MI, MO, TN, TX, CO), totaling over $438MM in assets under management as of Q3 2023. PREP runs a co-investment model where the firm invests substantial capital alongside outside equity partners in every deal. The customer base is anchored by individual accredited investors (HNWs, professionals, retirees) sourced through referrals and the Steinberg family's personal network, supplemented by family offices and institutional partners such as Phoenix Realty Group (a nine-year joint venture partner). The firm operates an AppFolio-powered investor portal for onboarding, document management (K-1s, performance reports), and 24/7 portfolio access, supplemented by quarterly CEO newsletters, a Real Estate 101 educational content series, podcast features, and industry conference speaking.

Revenue is generated through standard multifamily syndication mechanics: acquisition fees, asset management fees, and promote structures, with distributions to investors on monthly/quarterly cadences from rental income and upon property exit. Pricing and investment minimums are not publicly disclosed and are conveyed through direct investor communications. The partnership with Phoenix Realty Group and the firm's referral-driven investor community form the primary distribution channels, while the AppFolio portal functions as the bottom-of-funnel self-serve layer. The firm emphasizes tax advantages (depreciation K-1 pass-through), inflation hedging, and passive income as core value propositions for its target investor segment.

Name

Park Row Equity Partners

Legal name

Park Row Equity Partners

Website

https://parkrowep.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

1–10 employees

Short description

Park Row Equity Partners is a private, multigenerational family-owned multifamily real estate syndication firm based in New York that acquires and operates 35+ value-add apartment properties across 8+ US states for accredited individual investors, family offices, and institutional partners through co-investment structures.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Investment

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Offices of Real Estate Agents and Brokers (5312)

SIC

Investment Advice (6282), Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

akta.pro secondary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

Keywords

• Multifamily real estate investment
• Real estate syndication services
• Asset management services
• Value-add real estate investing
• Passive real estate investing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Syndication & Asset Management: Park Row Equity Partners generates revenue through co-investment in multifamily property acquisitions alongside outside investors (equity partners). The firm makes money through asset management fees, acquisition fees, and promote structures common in real estate syndications. Returns are distributed to investors on a monthly/quarterly basis from rental income and property appreciation upon exit.
2. Property Acquisition and Value-Add Renovation: The firm purchases underperforming or outdated multifamily properties, implements improvements (renovations, amenity upgrades), and increases net operating income through rent increases and operational efficiencies. The firm benefits from depreciation tax shields passed through to investors via K-1 statements.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Park Row Equity Partners acquires, repositions, and operates multifamily residential properties across the United States, offering accredited investors and family offices the ability to co-invest alongside the general partner in value-add joint ventures. The firm earns asset management fees, acquisition fees, and promote interests on each syndication while co-investing its own capital, and provides investor access through an AppFolio-powered online portal for portfolio monitoring and tax documentation.

Product overview

Park Row Equity Partners (PREP) operates as a multifamily real estate investment firm offering individual investors access to jointly-held multifamily property investments across the United States. The platform consists of the PREP Multifamily Investment Platform as the core offering, supplemented by the AppFolio-powered Investor Portal for client access, supported by a Value-Add Investment Strategy that guides property selection and improvement. The portfolio encompasses 12+ named multifamily properties (including Roosevelt Point, Alvista Sterling Palms, Two Twelve Clayton, Peyton Stakes, Whispering Hills, Stratford Green, Aqua Palm Bay, 5 Oaks, Alvista Hollywood, Adley City Springs, and The Enclave At Winghaven) ranging from 192 to 400 units, as well as additional properties like Eleven85, Summit at Avent Ferry, Enclave at Roswell, Alvista Metrowest, and Brookside Heights featured in marketing materials.

Differentiator

Problem solved

Functional benefit

Products and services

• PREP Multifamily Investment Platform A multifamily real estate investment platform that enables individual accredited investors to participate in jointly-held multifamily property investments throughout the United States, with PREP managing acquisitions, renovations, and asset operations on their behalf.
• Investor Portal A secure online portal (powered by AppFolio) providing investors real-time access to their investment portfolio, performance metrics, financial documents, and K-1 tax statements on a 24/7 basis.

Quantifiable outcome

• Projected IRR of 19% on Roosevelt Point (Phoenix, AZ, acquired 2022)
• +8 more outcomes

Named customers4 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

Integration1 record

Partnerships

One partnership is on record.

• Phoenix Realty GroupcoreStrategic or Co-development PartnerPhoenix Realty Group has partnered with Park Row Equity Partners on numerous real estate investments throughout the country during the past nine years. PREP has been an excellent and reliable investment partner with demonstrated integrity, constructive collaboration, good judgement, and industry experience resulting in highly successful multifamily real estate investments together.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Cardone Capital: Multifamily-focused real estate syndicator targeting retail/individual investors with co-investment structures and a strong founder-led brand. Closely comparable to PREP in business model, target investor base (accredited/retail investors), and value-add multifamily strategy.
• CrowdStreet: Online commercial real estate investment platform enabling individual investors to participate in sponsor-led deals, including multifamily. Comparable to PREP in offering deal-level access to CRE for individual accredited investors.
• Fundrise: Online real estate investment platform offering individual investors exposure to multifamily and other commercial real estate through pooled funds. Comparable to PREP in democratizing access to institutional-quality real estate for non-institutional investors.
• RealtyMogul: Real estate crowdfunding and syndication platform connecting individual investors with multifamily and commercial real estate operators. Directly comparable as a deal-by-deal syndication model serving accredited investors.

Broad incumbents

• Cushman & Wakefield: Global commercial real estate services firm with multifamily investment sales and valuation capabilities. Comparable as a multifamily market participant, though at vastly larger scale and as a service provider rather than principal investor.
• JLL (Jones Lang LaSalle): Global commercial real estate services firm with significant multifamily investment sales, capital markets, and asset management capabilities. Comparable in serving multifamily investors and operators, though PREP is a much smaller principal/sponsor rather than intermediary.
• Newmark Group: Commercial real estate advisory and capital markets firm serving multifamily owners and investors. Comparable in providing advisory and capital markets services to multifamily investors, though at much larger institutional scale.
• Marcus & Millichap: Large commercial real estate investment sales and brokerage firm with a dedicated multifamily division. Comparable as a multifamily deal intermediary and capital markets advisor, though operating at much broader scale than PREP.

Emerging players

• BH Equities: Multifamily investment and management firm specializing in value-add acquisitions across the U.S. Comparable to PREP in multifamily focus, value-add strategy, and serving as operating partner for institutional co-investors.
• The Bascom Group: Value-add multifamily investment firm focused on acquiring and repositioning underperforming apartment communities. Comparable to PREP in value-add investment strategy and multifamily specialization, though at larger scale with institutional capital partners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@ParkRowEquityPartners
• LinkedInlinkedin.com/company/park-row-equity-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Park Row Equity Partners