Ocean Management

What Ocean Management does

Ocean Empire Management is a privately held residential property management company that owns and operates four apartment buildings in Brooklyn, New York — at 75, 99, 1641, and 1650 Ocean Avenue — situated in the Midwood neighborhood and near Prospect Park. Founded in May 1999 by Owner and Managing Agent Ivona Hertz and named after the Ocean Avenue–Empire Boulevard intersection, the company provides residential rental housing with heat and water included in rent, supported by on-site superintendents, scheduled pest control, and direct management contact. Its primary customer base consists of Brooklyn residential tenants, with a niche reputation among musicians and artists who refer to the properties as the "Jazz Dorms" and "Musician Dorms of Midwood."

The company operates with no proprietary technology platforms, mobile applications, or digital tenant management systems. Rent collection is handled through manual processes — checks made payable to property-specific entities (75 Ocean Empire, 99 Ocean Empire, Kara Realty Co., Lana Realty Co.) or Zelle transfers to property-dedicated email addresses such as [email protected], with rent due on the 1st of each month and payable by the 10th. Gas service (National Grid) and electricity (Con Edison) are arranged directly by tenants, while heat and water are included in rent. Prospect discovery occurs primarily through the company's website (oceanempire.com), a downloadable rental application, and earned media coverage in The New York Times, NY Magazine/Curbed, and NY Jewish Week.

Revenue is generated entirely through recurring monthly residential rental income across the four buildings. The organization is lean, with a 1–10 employee headcount structured as Owner/Managing Agent (Ivona Hertz), Building Manager (Samson), Office Manager (Cevatius), Assistant Manager (Lana), and two building superintendents (Woody for 75/99 Ocean Ave; Alexey for 1641/1650 Ocean Ave) assigned to specific buildings. Ownership is concentrated with the founder/individual, with Kara Realty Co. and Lana Realty Co. appearing as rent payees for 1641 and 1650 Ocean Avenue, respectively, suggesting related ownership entities. The company has no external investment, no funding rounds, no technology integrations, and has maintained essentially the same four-property footprint since the early 2000s.

Name

Ocean Management

Legal name

Ocean Empire Management

Website

https://oceanempire.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

Ocean Empire Management is a privately held residential property manager that owns and operates four Brooklyn apartment buildings — known as the 'Jazz Dorms' and 'Musician Dorms of Midwood' — serving residential tenants, particularly musicians and artists, with utilities-included rental housing.

Ownership category

akta.pro rank

Headquarters

HQ city

Jackson

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Residential Rental Income: Ocean Empire Management generates recurring monthly rental income from four apartment buildings in Brooklyn, NY. Tenants pay rent on the 1st of each month, payable by the 10th. Rent payments can be made via check or Zelle. Heat and water are included in rent, while gas and electricity are the resident's responsibility to set up with respective utility providers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Ocean Management (doing business as Ocean Empire Management) owns and manages four residential apartment buildings in Brooklyn, NY located at 75 Ocean Ave, 99 Ocean Ave, 1641 Ocean Ave, and 1650 Ocean Ave. The company provides residential studio rentals with heat and water included, on-site superintendent building maintenance, pest control coordination, and rent collection services payable by check or Zelle.

Product overview

Ocean Empire Management operates as a property rental and management company offering residential studio apartments across four Brooklyn-based properties located at 75, 99, 1641, and 1650 Ocean Avenue. The company, founded in May 1999 at the intersection of Ocean Avenue and Empire Boulevard, provides rental housing with utilities included, along with superintendent and pest control services. The portfolio includes both historically significant buildings (the former 'Jazz Dorms' at 75 and 99 Ocean Avenue) and more recent properties in Midwood (1641 and 1650 Ocean Avenue) that have become known as the 'Musician Dorms.'

Differentiator

Problem solved

Functional benefit

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor.

• National GridminorOthersNatural gas utility provider for the Brooklyn properties. Residents must open their own individual accounts with National Grid for gas service.
• Con EdisonminorOthersElectricity utility provider for the Brooklyn properties. Residents must open their own individual accounts with Con Edison for electric service.
• Matador Pest ControlminorOthersPest control services provider for the properties, with scheduled exterminating on the 2nd and 4th Saturday of each month. Contact: [email protected]

Scale indicators2 records

Recent moves3 records

Expansion highlights1 record

Broad incumbents

• Phipps Houses: NYC nonprofit developer and operator of affordable and supportive multifamily housing. Comparable as a long-tenured NYC residential operator serving working-class tenants, but with institutional governance and a much larger portfolio.
• Fairstead: NYC-based multifamily owner/operator focused on affordable and workforce housing. Comparable as a NYC residential operator with cultural/community branding angles, but at institutional scale with national footprint.
• Halstead Management (Brown Harris Stevens): NYC residential management arm of Brown Harris Stevens handling rentals, condos, and co-ops. Comparable NYC residential management services to landlords, though operating as a third-party manager at larger scale rather than an owner-operator.
• A&E Real Estate Holdings: NYC-focused multifamily owner and operator of rent-regulated and free-market apartments. Directly comparable business model to Ocean Empire (NYC rental apartments with on-site management), but with thousands of units vs. four buildings.
• Veris Residential: Public multifamily REIT operating garden-apartment communities in NJ/NY. Comparable as a multifamily owner/operator in the NYC metro, though at portfolio scale orders of magnitude larger than Ocean Empire.
• L+M Development Partners: NYC-based affordable and mixed-income multifamily owner/manager. Comparable as a NYC residential operator serving similar renter demographics, though at institutional scale with development capability Ocean Empire lacks.

Regional players

• St. Nicks Alliance: Brooklyn-based nonprofit developer and operator of affordable housing in North Brooklyn. Comparable as a Brooklyn residential operator with community-mission branding, though structured as a nonprofit with grant and government funding access Ocean Empire lacks.
• Two Trees Management: Brooklyn-focused residential and mixed-use owner/operator. Comparable to Ocean Empire as a Brooklyn landlord building a neighborhood-scale portfolio, though at materially larger scale and with broader property types.

Direct peers

• Argo Real Estate: NYC-based boutique residential brokerage and property management firm. Comparable as a small, owner-operated NYC residential property manager serving similar tenant profiles, though operating more on the brokerage/management services side rather than as an owner.
• AKAM Associates: NYC/area property management firm managing condominiums, cooperatives, and rental buildings. Comparable as a small-to-mid NYC residential property manager with on-site superintendent models similar to Ocean Empire's.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/ocean-empire-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Ocean Management