The Legacy
For three generations Goldfarb Properties has used its private capital to revitalize and reposition properties across the New York metropolitan area. It has done so by understanding the unique set of challenges presented by each asset that it acquires, and by using its vast experience, trained staff, and long-term professional relationships (that it has cultivated over decades) to overcome them.
This journey began with the acquisition of two mixed-use assets on the Upper East Side of Manhattan in the 1950s and has now grown to a portfolio of over 7,000 multi-family units and nearly 500,000 square feet of commercial space. Goldfarb designed its management and operations structure with scalability in mind, making the addition of new buildings a seamless transition, regardless of the scale or magnitude of the project.
Goldfarb Properties has not only driven growth by expanding its holdings, but also by extracting additional value from its existing assets, vis-à-vis:
- Large-scale energy efficiency upgrades across its portfolio to improve the financial performance of its vintage assets and simultaneously increase occupancy rates through improved tenant experience.
- Strategic repositioning with significant investment in capital and individual apartment improvements, harvesting strong and sustained returns and mitigating obsolescence risk.
- Innovations in access control and security measures.
- Robust corporate staff and on-site operations teams that are constantly evolving to more efficiently run day-to-day maintenance, operations, and overall management.
1953
Manhattan Origins
The first generation of the Goldfarb family business purchased two pre-war buildings on the Upper East Side. These properties, situated at 151 East 80th Street and 1160 Fifth Avenue, remain under the company’s ownership and management to this day. They continue to stand as prime examples of luxury in the area, offering some of Manhattan's most sought-after rental apartments.
1977
Crosstown to Columbus Circle
The addition of Park Towers South to the portfolio marked a pivotal milestone in the journey. This prime property showcases an array of modern apartments, professional spaces, and exclusive retail offerings, all set against the backdrop of Columbus Circle and Central Park.
1979
From the City to the Sand
In 1979, the company broadened its horizons by adding the Wavecrest Gardens apartment complex to the portfolio. Nestled on the beach, this sprawling oceanfront community introduced a remarkable 1,656 apartments to the portfolio. The property spans 34 meticulously landscaped acres and includes a 40,000 square foot retail shopping center, playgrounds, and private gardens making it a truly unique community..
1985
Expanding on the Long Island Sound
Venturing north to Westchester County, Goldfarb proudly added Harbor House and Drake House to the collection. These two properties, consisting of 615 units, sit on the shores of the Long Island Sound in New Rochelle, offering a serene and picturesque living experience for residents.
1985
Beginnings in The Bronx
The commitment to expansion next led to the Bronx, where 9 new properties, consisting of over 800 multi-family units and 250,000 square feet of commercial space were acquired. This marked a significant milestone in the quest for growth and diversification.
1995
Across the River
Crossing the Hudson River, Goldfarb next expanded their footprint by acquiring Maple Gardens, a 1,744-unit apartment complex in Irvington, New Jersey. Strategic repositioning and capital infusions to this site transformed it into the safe, clean, and desirable community it is today.
2002
Building on the Beach
Adding to the beachside assets, Goldfarb completed the ground-up construction of a 122-unit building adjacent to the Wavecrest Gardens property in Far Rockaway, Queens. Oceanview is a notable milestone, as it proudly stands as the company's first 100% affordable LIHTC housing project.
2006
Headed to The Heights
Venturing into Washington Heights, Goldfarb next acquired Gracie Court and The Rivercliff. These two exclusive properties showcase the unwavering commitment to offering the highest level of luxury living in every neighborhood they invest in.
2011
Going Grand
Between 2011 through 2014, Goldfarb acquired two adjacent high-rise buildings on the Grand Concourse in The Bronx. Following these acquisitions, a comprehension rehabilitation program was implemented to transform these buildings into 340 luxurious units, showcasing the dedication to modernizing and enhancing the properties, and once again setting the bar for rental housing in the area.
2014
Back in The Bronx
In the most recent endeavor, Goldfarb acquired a comprehensive portfolio of over 300 units along the Pelham Parkway in the Bronx. Having long been neglected by previous ownership, Goldfarb continued its tradition of resurrecting these assets and returning them to their intended glory.
The Communities
The portfolio covers a rich tapestry of neighborhoods across the New York Metropolitan area. Branching out from our Upper East Side origins, Goldfarb now proudly owns and operates properties in multiple regions including Manhattan, the Bronx, Queens, Westchester, and Essex counties.
In each of its communities and properties, Goldfarb’s gold standard means meticulously maintained buildings that stand as a testament to their dedication to quality. From the tree-lined Pelham Parkway in The Bronx to the beachside community of Wavecrest Gardens in Far Rockaway, Queens, Goldfarb Properties continues to uphold its legacy of providing well-kept, vibrant spaces that residents and businesses are proud to call home.
