Stern Properties

What Stern Properties does

Stern Properties is a privately held, family-owned real estate development and property management company founded in 1981 by Gary Stern and his brother Charles Stern in Rochester, New York. Following Gary Stern's passing in 2016, his son Allan Stern became President, with Max Stern serving as Vice President overseeing commercial leasing and day-to-day operations. The company specializes in loft design and the renovation of turn-of-the-century buildings in Rochester's Neighborhood of the Arts (NOTA), supported by an in-house staff of mechanical craftsmen and carpenters. Its signature project, the Village Gate Square mixed-use development, represented a $10.5M+ rehabilitation and is described as a valued feature of Rochester's downtown landscape.

The company's core products are physical real estate assets organized across four lines: (1) residential apartments — including 65 College Apartments, 50 Prince Street, the Carnegie Building, 15 Mathews, 274/277/228 North Goodman, and 2 East End Way — with units ranging from studios to two-bedroom lofts priced at $995-$2,295/month; (2) commercial properties — primarily the Village Gate Square complex plus offices, studios, and retail spaces across multiple buildings, with pricing such as $13.50/sqft at 145 College Ave; (3) event space — a 450-person second-floor atrium marketed for weddings, corporate events, and community programming; and (4) land development — including a 4-acre buildable site at 308 Atlantic Ave. There is no software, SaaS, or platform product; the "technology" is the in-house renovation craft and on-site property management.

The business model is straightforward landlord economics: recurring monthly residential and commercial rents (subscription-like), supplemented by one-time event space bookings and build-to-suit development fees. Distribution is direct — on-site leasing teams, a company website (sternproperties.com), and email newsletter capture — with no intermediaries, channel partners, or external investors. Customer segments are individual residents seeking loft living in NOTA and SMB commercial tenants spanning restaurants, boutique retailers, technology/incubator businesses, and creative professionals. The company reports 11-50 employees, operates exclusively in Rochester, NY, and has no disclosed funding rounds, parent company, or subsidiaries.

Name

Stern Properties

Legal name

Stern Properties

Website

https://sternproperties.com

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

11–50 employees

Short description

Stern Properties is a family-owned Rochester, NY real estate developer and property manager specializing in loft renovation of turn-of-the-century buildings in the Neighborhood of the Arts, operating a portfolio of residential apartments, commercial spaces, the Village Gate Square mixed-use development, and event venues.

Ownership category

akta.pro rank

Product category

Real Estate Development and Property Management

NAICS

Residential Building Construction (23611), Commercial and Institutional Building Construction (23622)

SIC

Operators Of Apartment Buildings (6513), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

Whole-Home Interior Renovation (Non-Structural) (HSAPAEAC)

Keywords

• Residential property leasing
• Commercial real estate
• Historic building renovation
• Loft apartments
• Mixed-use development

Headquarters

HQ city

Rochester

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Residential Leasing: The company generates revenue through leasing residential apartments including studios, one-bedroom, and two-bedroom units across multiple properties in Rochester's Neighborhood of the Arts. Units range from approximately 690 sq ft to over 2,200 sq ft with monthly rents ranging from $995 to $2,295.
2. Commercial Leasing: Revenue from leasing commercial spaces including offices, studios, retail, and restaurant spaces. Commercial properties include Village Gate locations and buildings at College Avenue, Anderson Avenue, and North Goodman Street locations.
3. Event Space Rental: The company rents out their second floor atrium event space for weddings, corporate parties, and special occasions. The venue can accommodate up to 450 people. A licensed caterer is required.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Stern Properties develops, renovates, and manages residential loft apartments, commercial office/retail/studio spaces, event venues, and land development sites in Rochester, New York's Neighborhood of the Arts. The company's primary focus is leasing renovated turn-of-the-century buildings as a vertically integrated landlord and property manager, with an in-house construction crew executing build-outs. Revenue is generated through recurring monthly rents on apartments, commercial leases on offices and studios, one-time event space rentals, and build-to-suit land development opportunities.

Product overview

Stern Properties is a real estate development and property management company founded in 1981, specializing in loft design and renovation of turn-of-the-century buildings in Rochester, New York. The company operates a portfolio of residential apartments (including 65 College Apartments, 50 Prince Street, The Carnegie Building, and properties at 15 Mathews, 274/277/228 North Goodman, and 2 East End Way), commercial properties (Village Gate Square, office and retail spaces across multiple buildings), land development opportunities, and event space rental. The company has over 25 years of experience renovating historic buildings and manages hundreds of thousands of square feet of commercial and residential space in Rochester's Neighborhood of the Arts.

Differentiator

Problem solved

Functional benefit

Products and services

• 65 College Apartments
• 50 Prince Street Apartments
• The Carnegie Building
• 15 Mathews Street Apartments
• 274 North Goodman (Lofts at Village Gate)
• 277 North Goodman Apartments
• 228 North Goodman Apartments
• 2 East End Way Apartments
• Village Gate Square Commercial
• Commercial Properties (offices, studios, retail)
• Event Space (Village Gate Atrium)
• Land Development (308 Atlantic Avenue)

Quantifiable outcome

• $10.5 million rehabilitation project completed for Village Gate Square

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• WinnCompanies: National multifamily developer and manager with mixed-use and historic rehabilitation projects. Comparable for mixed-income residential management and adaptive reuse of older buildings.
• Benderson Development: Large privately held real estate developer with extensive multifamily and mixed-use holdings across the U.S. Comparable for vertically integrated development and property management, with regional Upstate New York presence.
• Greystar Real Estate Partners: World's largest multifamily property management and development firm operating across the U.S. Comparable as the broad incumbent in multifamily operations, though vastly larger scale.
• The Related Companies: Large national mixed-use developer with deep experience in urban infill and mixed-income communities. Comparable for mixed-use development philosophy and urban revitalization focus, though at vastly greater scale.

Regional players

• Home Leasing LLC: Rochester-area multifamily housing developer and operator with a similar focus on urban and mixed-use residential communities in upstate New York. Comparable in business model and target tenant base.
• The Pike Company: Rochester-based construction and real estate development firm with a long history in commercial and institutional building. Comparable for mixed-use development and historic renovation expertise.
• Gallina Development: Rochester-area commercial real estate developer and manager specializing in suburban office and mixed-use projects. Comparable as a regional peer in the same Rochester market with similar development focus.
• Conifer Realty: Rochester-headquartered multifamily developer and manager operating affordable and market-rate housing across the Northeast. Comparable as a regional multifamily operator with development capabilities.
• Morgan Management: Rochester, NY-based multifamily and commercial property owner-operator with a regional footprint across New York, Florida, and Texas. Directly comparable as a vertically integrated multifamily landlord operating in the same home market.

Direct peers

• Buckingham Properties: Rochester-based commercial and mixed-use real estate developer and manager with a comparable focus on downtown and urban infill assets. Direct peer in geography and asset class.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php

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 Stern Properties