Kevin P. Maloney | |
|---|---|
| Born | December 5, 1958 |
| Nationality | American |
| Education | B.A. University at Buffalo |
| Occupation | Real Estate Developer |
| Known for | Founder of Property Markets Group |
| Spouse | Tanya Babic Maloney |
| Children | Three |
Kevin P. Maloney (born December 5, 1958) is an American real estate developer and founder of Property Markets Group. [1]
The son of a lawyer in the United States Marine Corps [1] Maloney was raised on a farm. He graduated from University at Buffalo where he used his student loans to purchase several properties. [1] After college, he worked for Chemical Bank in New York City and then Ensign Bank where he was responsible for their real estate unit. [1] In 1991, he founded Property Markets Group which specializes in residential projects in New York, South Florida and Chicago. [2] In 1994, Gary Barnett (who would later found Extell Development Company) and Ziel Feldman (who later founded HFZ Capital Group) joined him as principals of the firm. [2] [3]
Maloney has developed or is developing a number of prominent buildings including the 60 story, 750 foot Echo Brickell in Miami, [4] [5] the $160 million condominium project, Echo Aventura, in Aventura, Florida, [6] [7] and two projects being co-developed with Michael Stern, the 1,428 foot 111 West 57th Street in Manhattan, [8] [9] [10] and the Walker Tower at 212 West 18th Street in Chelsea which they are converting into condominiums. [2] [10]
PMG typically partners with other firms who are having some difficulty closing a project and need additional capital or expertise. [2] PMG does not hold onto real estate as a long term investment; instead they sell it to either a third party or a real estate investment trust typically after it has been mostly leased or sold out as condominiums. [2]
Maloney lives in Manhattan and Miami. He is married to Tania Babic, from London, with whom he has three children. He also has two adopted children from a previous relationship. [1]
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