Blumenfeld Development Group, Ltd. (“BDG”) is a full service real estate development firm with a development portfolio that includes regionally significant projects, entertainment-based retail, multitenant-office, medical office, industrial and multifamily-residential. BDG’s fully integrated team allows for seamless packaging of all services, including those related to leasing, acquisitions, property management, construction, permits and approvals, architectural and engineering design, and user operational planning. This holistic approach toward real estate has enabled BDG to prosper in its three decades serving the office, retail, and industrial real estate markets. BDG brings a client-centered approach to every project. This fundamental tenet, when combined with a highly specialized team of real estate professionals, produces unparalleled levels of service. Over one hundred years of combined experience in acquisitions has endowed the firm with an extraordinary sense of value. BDG employs over fifty people in three New York offices and controls over three million square feet of real estate.
Local Market Presence
BDG’s intimate knowledge of the New York Metropolitan market presents the firm with distinct advantages. Whether it’s choosing the right local team to navigate through the approval process, or ensuring the highest quality work at competitive local costs, BDG’s regional market acumen is without equal. The firm has developed strong relationships not only with tenants, but with local politicians, environmental agencies, professionals, and resident groups as well. This philosophy, that developers need strong ties to the communities in which they develop, is at the core of BDG’s code of ethics. BDG regularly invests in local communities by redeveloping environmentally contaminated lands into viable projects, increasing choice and lowering costs in historically disadvantaged neighborhoods, and financially supporting a host of local causes. In doing so, BDG helps build better communities. BDG has recently expanded its portfolio along the eastern seaboard, replicating the many successes in the New York area by holding steadfast to the above principles.
Development & Management
BDG’s core strengths lie in commercial development projects. While some of BDG’s most prosperous ventures have been in new development, the company has found aspecial niche in the redevelopment field. Throughout its history BDG has focused on distressed properties that can be repositioned, remarketed, and through innovative management, become financially successful. A prime example of this was the redevelopment of Bulova Watch Corporation’s manufacturing plant in Queens, New York. At a cost of more than $100 million, the 35-year-old art deco industrial building was converted into a modern, 450,000 square foot office facility anchored by Skanska.