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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
Asset Type: Multifamily
Project Type: Adaptive Reuse

Bull Street
Columbia, SC

Location: South Carolina
Size: 550,000
Number of units: 287
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
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
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
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
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
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
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
Asset Type: Multifamily
Project Type: Value-add

Joule

Bend, Oregon

Location: Bend, Oregon
Size: 105,000
Number of units: 125
Asset Type: Workforce Housing
Project Type: Ground-Up

Get in touch

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

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      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
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        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
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