Siras Development

What Siras Development does

Siras Development is a New York City-based, privately-held real estate development and construction management firm founded in 2001. The company develops luxury residential condominiums, boutique hotels, and commercial properties across Manhattan and Brooklyn, operating a portfolio of more than 30 properties totaling over 2,000,000 square feet in development and construction. Its strategy is anchored on three pillars — location (emerging and trophy NYC neighborhoods including West Chelsea, Hudson Yards, Tribeca, Soho, NoHo, Brooklyn), design (collaborations with Pritzker Prize-winning Alvaro Siza, SCDA Architects, Enrique Norten, BKSK, and Adjmi & Andreoli), and execution (an in-house construction management function providing volume pricing and schedule/cost control). Notable delivered and pipeline projects include Soori Highline (first US high-rise with private interior pools), Hotel Americano (Wallpaper Best Business Hotels, 2011), 611 W 56th (Alvaro Siza's first US building), 580 Carroll Street in Brooklyn, and Hudson Rise, a 420,000 sq ft, 700-foot Hudson Yards tower developed in joint venture with Kuafu Properties.

Siras generates revenue through the development, sale, and operation of luxury real estate assets, with unit pricing negotiated on a per-transaction basis targeting high-net-worth individuals, international investors, and hospitality operators. The firm operates with a lean headcount of 11-50 employees and runs a direct sales motion complemented by earned media coverage in the New York Times, Wall Street Journal, Financial Times, Forbes, Wallpaper, and Architectural Digest. Distribution is single-country (USA), focused entirely on New York City, with capital partners such as Kuafu Properties enabling larger mixed-use developments like Hudson Rise.

Name

Siras Development

Legal name

Siras Development Group

Website

https://sirasdevelopment.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Siras Development is a New York City-based real estate developer and construction manager founded in 2001, building a 30-plus property, 2M+ sq ft portfolio of luxury residential, commercial, and hospitality projects for high-net-worth individuals and international investors.

Ownership category

akta.pro rank

Product category

Luxury Real Estate Development

NAICS

Nonresidential Building Construction (2362), Land Subdivision (237210)

SIC

Operative Builders (1531), General Bldg Contractors - Residential Bldgs (1520)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industries

Urban Planning & Master Planning (BPAHAKAD), Real Estate Public-Private Partnership (PPP) & Infrastructure-Adjacent Real Estate Advisory (BPAJANAL)

Keywords

• Luxury real estate development
• Residential construction management
• Hospitality property development
• Commercial real estate development
• Luxury condominium construction

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

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Development: Siras Development generates revenue through developing luxury residential condominiums, boutique hotels, and commercial properties in New York City. The firm develops properties from conception through construction completion, capitalizing on strategic locations and design excellence to achieve superior returns.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Siras Development is a New York City-based real estate development and construction management firm that develops luxury residential condominiums, boutique hotels, and commercial properties from conception through construction completion across Manhattan and Brooklyn. The firm partners with world-class architects and performs its own construction management to deliver design-forward projects on budget and on time, with a portfolio of more than 30 properties totaling over 2,000,000 square feet.

Product overview

Siras Development is a New York-based real estate development and construction management firm offering a portfolio of residential, commercial, hospitality, and mixed-use development projects across Manhattan and Brooklyn. The company's portfolio includes over 30 properties totaling more than 2,000,000 square feet in development and construction. Key projects include Soori Highline (luxury condominiums with private pools), Hotel Americano (boutique ryokan-inspired hotel), Hudson Rise (700-foot luxury skyscraper in Hudson Yards), 611 W 56th (luxury condos designed by Pritzker Prize-winning architect Alvaro Siza), and various residential and commercial developments throughout neighborhoods including Tribeca, Soho, West Chelsea, Hudson Yards, Greenwich Village, NoHo, and Brooklyn. The firm performs its own construction management to control budget and timeline.

Differentiator

Problem solved

Functional benefit

Products and services

• Soori Highline Chelsea luxury condominium development featuring private pools in each unit, with 18-foot ceilings, floor-to-ceiling windows, gas fireplaces, and private courtyards and terraces. Designed by SCDA Architects. The first development in the United States to feature interior pools for each individual unit.
• Hotel Americano Ten-story boutique hotel in West Chelsea with a metal-mesh facade and Japanese ryokan-inspired interior design, designed by Enrique Norten. Anchored the north end of the Highline and named one of the world's Best Business Hotels by Wallpaper in 2011.
• Hudson Rise 420,000 square foot, 700-foot high luxury skyscraper in Hudson Yards with 18-foot ceiling heights, 242 guest rooms, and luxury hotel serviced residences, with views of the Hudson River. Developed in partnership with Kuafu Properties and designed by Archilier Architecture.
• 611 W 56th Luxury residential condominiums at 611 West 56th Street designed by Pritzker Prize-winning architect Alvaro Siza (in collaboration with SLCE Architects), with interiors by Gabellini Sheppard. The first building in the US designed by Alvaro Siza.
• 580 Carroll Street 21,300 SF Brooklyn development designed by architect Enrique Norten.
• 525 West 24th 80,000 SF luxury event space in West Chelsea.
• 40 Bleeker 135,000 SF NoHo modern luxury condominium designed by Rawlings Architect, establishing a timeless presence within Noho.
• 290 West 45,000 SF intimate 13-unit Tribeca condominium designed by Adjmi & Andreoli, completed in 2015.
• 421 Hudson 104,000 SF West Village industrial luxury development designed by Workshop/apd.
• 250 Bowery 50,000 SF development designed by Aldo Andreoli of Adjmi + Andreoli.
• 24 Leonard 62,000 SF development designed by BKSK Architects.
• 11 North Moore 85,000 SF development designed by Aldo Andreoli of Adjmi + Andreoli.
• 215 Sullivan Greenwich Village condominium development.
• 204 Forsyth 26,000 SF Lower East Side boutique condominium designed by Z Architecture.
• Shephard House 133,000 SF Greenwich Village timeless condominium designed by Beyer, Blinder, Belle Architect + Planners, preserving the original facade.
• Spring Studios 130,000 SF commercial interdisciplinary studio and creative agency where design, art, fashion, and film converge, featured by Wallpaper Magazine.
• 471 Washington 40,000 SF development designed by Ben Hansen Architect.
• 245 West 14th Street 35,000 SF development designed by Kutnicki Bernstein Architects.

Quantifiable outcome

• First building in the United States to feature interior pools for each individual unit (Soori Highline)
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core and secondary.

• SCDA ArchitectscoreStrategic or Co-development PartnerCollaboration with internationally recognized architect Soo K. Chan of SCDA Architects for Soori Highline development - featuring 18-foot ceilings and private pools in the majority of units.
• Enrique NortencoreStrategic or Co-development PartnerCollaboration with architect and designer Enrique Norten creating Hotel Americano and 580 Carroll Street. Hotel Americano became a landmark for the West Chelsea Highline area.
• Alvaro Siza w/ SLCE ArchitectscoreStrategic or Co-development Partner611 W 56th developed in partnership with Pritzker Prize-winning master architect Alvaro Siza (in collaboration with SLCE Architects), featuring interiors by Gabellini Sheppard. First building in the US designed by Alvaro Siza.
• Archilier ArchitecturesecondaryStrategic or Co-development PartnerHudson Rise development designed by Archilier Architecture - a 700-foot high tower with 242 guest rooms and luxury hotel serviced residences.
• Oriel (Singapore-based)coreStrategic or Co-development PartnerSingapore-based Oriel, of which Soo K. Chan is a managing principal, partnered with Siras Development for Soori Highline project.

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Durst Organization: Family-owned NYC developer of large-scale residential, commercial and mixed-use towers; competes in the same Manhattan luxury and design-driven segments as Siras.
• Tishman Speyer: Global developer and investor behind Manhattan residential and mixed-use towers; broadly comparable on NYC luxury product and design-led positioning.
• The Related Companies: National mixed-use and luxury residential developer behind Hudson Yards; competes with Siras in Hudson Yards and high-end NYC condo and hospitality segments.
• Vornado Realty Trust: Public REIT focused on Manhattan office and high-end retail/residential assets; comparable in NYC luxury real estate geography and scale, though operating model is more asset-holding than ground-up development.
• Extell Development Company: Larger NYC-focused luxury residential and hotel developer (e.g., One57, Central Park Tower); operates at greater scale than Siras but overlaps directly in Manhattan luxury condo product and target buyer.

Direct peers

• HFZ Capital Group: NYC-based luxury residential developer active in Manhattan (e.g., The Fitzroy, 18 Gramercy Park); closely mirrors Siras in scale, product type and HNW target buyer.
• Naftali Group: Boutique Manhattan luxury condo developer behind projects like 277 Fifth Ave and 565 Broome; very similar in size, design-forward DNA and focus on architect-led NYC residential product.
• Fortis Property Group: NYC-focused residential and commercial developer known for design-forward projects; comparable boutique scale and Manhattan luxury condo product overlap with Siras.
• DDG (DDPartners): NYC design-driven boutique developer of ultra-luxury condos (e.g., 180 E 88th, 11 Greene); the closest design-led, architect-partnered analog to Siras.
• Ben Shaoul / Magnum Real Estate Group: Manhattan-focused boutique developer of luxury rental and condo conversions (e.g., 389 East 89th); overlaps with Siras on NYC luxury product though more rental-tilted.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/siras-development

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 Siras Development