Back to top

BUILDING THE FUTURE
Astral Development is a privately held, fully integrated hospitality, market-rate, workforce, and affordable housing real estate development and investment firm based in New York, Los Angeles, and Bend, Oregon.

Astral Development strives to deliver best-in-class products and services in each community that we serve, all while creating long-lasting value for our investors and partners – completing projects on time and on budget.  Our team has extensive experience in all stages of a project life-cycle from development, and acquisitions, to management.

This experience ranges in acquisitions and financing, operations and asset management, affordable housing, residential leasing and sales, commercial leasing, design and construction management, marketing and communications, and real estate property technology.

U.S. markets include New York, Oregon, North Carolina, South Carolina, Florida, Texas and California

Tenets

Synergy

We are the collective sum of our parts and experiences. Individually and throughout prior employments, each team member has acquired proficiency in all stages of the development process, bringing decades of expertise to our organization.

Values

We place a premium on retaining a team of top-tier, philosophically aligned professionals. Our diversity of backgrounds sparks creativity and innovation and leads to better solutions in partnership with the communities we serve. We embrace education and mentorship; several team members serve as part and full-time faculty at Columbia University in the City of New York. Our commitment to fostering a culture rooted in respect, collaboration, opportunity, and inclusivity allows our team to thrive. These characteristics shape our performance allowing us to develop to the highest standards and generate lasting value, for our investors, partners, and residents.

Asset Management

We are proactive in the implementation of business plans to optimize value – whether social capital or equity returns – for each asset. We focus on maximizing the potential of all operating assets through the implementation of capital expenditure programs, repositioning of under-utilized assets, and creative, community-focused leasing of vacant space.

Strategic Approach

We focus on maximizing risk-adjusted returns and long-term value creation by embracing fundamentals, maintaining investment discipline, and carefully tracking the impact of economic and legislative dynamics. We target well-positioned off-market sites within our target markets to deliver products with recognized and acute demand, as confirmed through extensive market research and data analysis.

Design Thinking

Our diverse team of development professionals shares an entrepreneurial approach bringing backgrounds ranging from architecture, planning, and ecologically viable urban design, banking, and finance, affordable housing underwriting, private equity, technology (PropTech), communications and marketing, construction, and asset management. We strive to take advantage of overlooked opportunities in our target markets by leveraging our expertise and network and being adaptable to an ever-changing climate.

Marketing

Our in-house marketing department approaches each project with a data-driven approach, enhancing value and generating demand across each of our verticals. Expertise Includes:

  • New Development Positioning
  • A.I. Strategy Integration
  • Client Engagement
  • Infrastructure & Capital Projects
  • Regional Team Lead
  • Reputational Oversight
  • Strategic Planning Process
  • Creative Design & Development
  • Grassroots Outreach
  • Strategic Digital Storytelling
  • Team Recruiting & Training
  • Media Planning
  • Investor Relations
  • RFP & Contract Negotiations
  • Channel Strategy & 360º Digital Development

About

Operations

Astral develops properties across every asset class including Mixed-use and Adaptive Re-use Urban Developments, Market-Rate, Workforce and Affordable Housing, Condominiums, Commercial Retail & Office, and Hospitality. Astral has an extensive network and in-house expertise in development, construction, and asset management.

Investment Philosophy

We make meaningful equity investments alongside our partners to foster an alignment of interests. We structure our compensation to reflect performance, prioritizing the success of the project first. Our team prioritizes accuracy, transparency, and communication in our financial reporting and accounting practices.

Strategy

01

Value Focused Affordable Housing

In affordable and supportive housing projects, we seek to create livable, ecologically viable, aesthetically meaningful, permanently affordable housing with dynamic, health-focused, high-tech programming for the communities we serve while operating within a regulatory framework.

02

Market Rate Development Fundamentals

Prioritizing well-located assets in markets that have favorable demographic trends, strong economic growth and market fundamentals, positive migration, favorable tax laws, ample construction labor, and appealing affordability, we leverage our network to obtain off-market deals with an attractive basis.

03

Consistency

With an understanding that opportunities exist throughout the market cycles, we are continually evaluating opportunities across all asset classes where we see a potential to add value for our partners and for the communities in which we serve.

Projects

40 Wooster

40 Wooster St
New York, NY 10013

Location: Soho, New York
Size: 16,000
Number of units: 6
Budget: $19,150,000
Asset Type: Multifamily
Project Type: Adaptive Reuse

Bull Street
Columbia, SC

Location: South Carolina
Size: 550,000
Number of units: 400
Budget: $125,000,000
Asset Type: Mixed-Use (Market-Rate Residential, Commercial)
Project Type: Ground-up

South Carolina
South Carolina

Location: South Carolina
Size: 201,500
Number of units: 193
Budget: $50,504,145
Asset Type: Mixed-Use
Project Type: Ground-Up

569 Morgan

569 Morgan Ave.
Brooklyn NY 11222

Location: Brooklyn, New York
Size: 4,104
Number of units: 3
Budget: $2,400,000
Asset Type: Multifamily
Project Type: Value-Add

562A Morgan

562A Morgan Ave.
Brooklyn NY 11222

Location: Brooklyn, New York
Size: 3,870
Number of units: 4
Budget: $2,600,000
Asset Type: Multifamily
Project Type: Value-Add

599 Morgan

599 Morgan Ave.
Brooklyn NY 11222

Location: Brooklyn, New York
Size: 3,423
Number of units: 3
Budget: $2,400,000
Asset Type: Multifamily
Project Type: Value-add

215 Ralph
215 Ralph Ave

Brooklyn, NY 11233

Location: Brooklyn, New York
Size: 5,720
Number of units: 8
Budget: $3,600,000
Asset Type: Multifamily
Project Type: Value-Add

310 Linden

310 Linden St
Brooklyn, NY 11237

Location: Brooklyn, New York
Size: 3,021
Number of units: 3
Budget: $1,800,000
Asset Type: Multifamily
Project Type: Value-Add

276 Linden
276 Linden St

Brooklyn, NY 11237

Location: Brooklyn, New York
Size: 2,867
Number of units: 3
Budget: $1,800,000
Asset Type: Multifamily
Project Type: Value-add

Trabucco Preserve Glamping

Mariposa, California

Location: Mariposa, California
Size: 16,200
Number of units: 36
Budget: $13,600,000
Asset Type: Hospitality
Project Type: Ground-Up

Meet our team

Andy Golubitsky
Learn More

Andy Golubitsky

Andy Golubitsky has over 15 years of Real Estate Development experience. Prior to founding Astral Development and APRE Consulting, Andy held positions at Macklowe Properties and Douglaston Development, where he developed several residential, retail, and hotel properties. Prior to his career in real estate development, he practiced architecture and worked on projects ranging from large-scale master plan mixed-use communities, multi-billion-dollar hospital additions, ambulatory care facilities, data centers, university campus buildings, dormitories, luxury, and affordable multi-family projects. Andy holds a Master of Science in Real Estate Development as well as Urban Design from Columbia University, and a Bachelor of Architecture from Syracuse University. He is an adjunct professor at Columbia University focusing on Adaptive Reuse Development.
Close
David Mosey
Learn More

David Mosey

David Mosey has over 10 years of Affordable Housing development, underwriting, and construction experience. Prior to joining Astral Development, David held a position at Bronx Pro Group in The Bronx, NY, where he led the development of multiple residential communities and supportive housing projects – both new construction and renovation – in New York City and Honolulu, Hawaii. Among those projects were five 4% and two 9% tax credit deals all of which closed on time and on budget. David also authored two winning RFPs for new construction affordable housing projects on New York City-owned sites. David holds a Master of Science in Real Estate Development from Columbia University, a Master of Science in Landscape Architecture from City College of New York, and a Bachelor of Fine Arts from University of Oregon.
Close
Ashil Ann
Learn More

David Mosey

David Mosey has over 10 years of Affordable Housing development, underwriting, and construction experience. Prior to joining Astral Development, David held a position at Bronx Pro Group in The Bronx, NY, where he led the development of multiple residential communities and supportive housing projects – both new construction and renovation – in New York City and Honolulu, Hawaii. Among those projects were five 4% and two 9% tax credit deals all of which closed on time and on budget. David also authored two winning RFPs for new construction affordable housing projects on New York City-owned sites. David holds a Master of Science in Real Estate Development from Columbia University, a Master of Science in Landscape Architecture from City College of New York, and a Bachelor of Fine Arts from University of Oregon.
Close
Pavel Petrov
Learn More

Pavel Petrov

Pavel Petrov is a Development Manager for Astral Development & APRE Consulting’s business unit in Los Angeles, California. Pavel is actively involved with the recent acquisition and development of more than 1.5 million square feet of mixed-use commercial and hospitality space, including the conversion of existing hotels into nearly 850 residential units throughout major U.S. markets. His focus is to deliver projects on-time and on-budget, while employing creative solutions to generate and enhance value for those development projects. Prior to joining Astral Development, while earning his Master of Real Estate Development from Columbia University, Pavel led the winning team in the Urban Land Institute’s Hines Competition. He also spent 10 years shaping the built environment as an Urban Designer at SWA Group (SWA) and Michael Van Valkenburgh Associates (MVVA), both Landscape Architecture and Planning Firms.
Close
John Wofford
Learn More

John Wofford

John Wofford is a Development Manager for Astral Development in New York. With over 10 years of real estate development and architecture experience, John brings diverse multifamily/mixed-use and hospitality knowledge to the team. He recently assisted with the acquisition of an 11-hotel, 3,227 key portfolio across nine states. He is currently leading the repositioning of outmoded full-service hotels into mixed-use properties with new hotel brands. Other responsibilities include: entitlements, zoning, underwriting, project management, and tax credits.

Prior to his involvement with Astral, John worked in South Carolina, San Francisco, and most recently New York. John oversaw active New York projects as Development Manager at ASH NYC, a vertically integrated company that designs, develops, and operates its own residential and hotel properties. As an architect at CetraRuddy in New York and Solomon Cordwell Buenz in San Francisco, he was directly involved in the design and construction of numerous prominent residential towers. His broad experience ranges from boutique to large-scale and from acquisitions/concept through construction and completion.

A registered architect in New York State, John holds a Master of Science of Real Estate Development from Columbia University and a Bachelor of Architecture from Auburn University.

Close
Mathew Propst
Learn More

Mathew Propst

Mathew Propst is a real estate development professional in New York City, bringing over 7 years of multifamily and mixed-use commercial hospitality experience. During this time, Mathew was involved with all aspects of development, financing, budget management, consultant selection, permitting, and governmental approvals and entitlements. Mathew is currently involved in the acquisition and development of more than 1million square feet of mixed-use commercial and hospitality space nationally.

Prior to joining Astral Development, Mathew was the lead development manager for several mixed-use residential ground up and repositioning projects at Slate Property Group and was involved in the predevelopment of a 1.2 million sf luxury residential condominium building at Macklowe Properties. Prior to his career in real estate development, Mathew practiced architecture in New York City, working on several high-end luxury homes and condominiums, as well as several large-scale urban design and master planning projects including university and industrial campuses, museum and library design and planning. Mathew holds a Master of Science in Real Estate Development from Columbia University, and a Bachelor of Architecture from the University of Arizona.

Close
Lincoln Palsgrove
Learn More

Lincoln Palsgrove

Lincoln Palsgrove has over 20 years professional experience in marketing and public relations at Fortune 500 companies including leadership in the non-profit sector advancing philanthropic and urban planning initiatives. During his career Mr. Palsgrove has led marketing, grassroots support for zoning approvals, and leasing efforts for over 100 million square feet of real estate. His work at Howard Hughes resulted in 3 awards for marketing excellence granted by the International Council of Shopping Centers. His previous 10 years were spent at Howard Hughes Corporation and Brookfield Properties where he developed internal teams, business to business and business to consumer brand campaigns for large-scale mixed-use properties across the United States. Lincoln graduated from New York University with a Bachelor of Science degree in communications.
Close

Get in touch

To learn more about Astral get in touch with us today.

    Subscribe to our newsletter

      Connect With Us
      linkedin
      CONTACT ASTRAL DEVELOPMENT

      Interested in learning more, reach out and we will get back to you.

        +1 (347) 688–2044 contact@astraldevelopment.com 138 West 25th Street, New York, 10001 USA 8170 Beverly Blvd, Suite 104, Los Angeles, CA 90048 547 SW 13th St. Bend, OR 97702
        li
        Get In Touch With Us Today

        Welcome to Astral, a modern real estate development firm.

        +1 (347) 688–2044 contact@astrladevelopment.com 138 West 25th Street, New York, 10001 USA 8170 Beverly Blvd, Suite 104, Los Angeles, CA 90048 547 SW 13th St. Bend, OR 97702
        li