G Malone & Co, (GM&Co) is an added value diversified real estate brokerage and consulting company representing Buyers and Sellers of “Off-Market” investment properties in New York and nationwide. Our company is staffed by senior professionals providing clients with expertise on all types of transactions including the sales and purchases of multifamily properties, apartment building portfolios, office buildings, development sites, triple net lease investment properties, hotels, retail condos and note sales. We have substantial contacts in the real estate industry which allow us to source Off-Market transactions for all types of assets. We then oversee the entire process including the underwriting of all financial analyses, the drafting of the Letters of Intent, preparation and overseeing of the due diligence process and negotiating the best added value transactions for the seller or buyer, depending on whom we are representing. Honesty, perseverance, discipline, responsibility, integrity, and good work ethic are fundamental components in all of the company’s transactions.
In addition to representing individual sellers and buyers we also represent many of the largest multi-family REITs in the country, including AIMCO. In addition to AIMCO, GM&Co has represented UDR, another national REIT, in the purchase of a $440 million multi-family property in Manhattan, that included retail and commercial, which was the largest multi-family transaction in 2011 nationwide. At the election of the seller, these REITs can acquire multi-family properties with all cash, or a combination of cash and Owner Paid (OP) units, which allows sellers to defer capital gains tax. The REITs also explore larger deals where they purchase a partial interest in certain properties for OP units and cash, and sellers retain a percentage ownership in those properties to offer sellers liquidity.
Georgia Malone, president of G Malone & Co, pioneered the concept of Off-Market transactions and has become one of the most successful niche brokerage added value firms in the highly competitive real estate market of New York and nationwide. She successfully competes with larger companies in the industry by taking risks and setting her own goals, without adhering to the expectations of traditional brokerage firms. By identifying only Off-Market properties, our clients avoid wasted time and money spent on bidding and unnecessary due diligence.
Ms. Malone’s prior experience as a full equity law partner of a major New York Real Estate law firm, knowledge of rent laws and expert underwriting of Rent Stabilized apartment buildings enables GM&Co to deliver financially beneficial deals for their buyer and seller clients.
AIMCO, a $15-billion NYSE-listed REIT, hired GM&Co to represent them to acquire and invest in Off Market added value properties around New York. On behalf of AIMCO, one of the first REITs to enter the NYC market, GM&Co identified and negotiated the purchase of over 155 multi-family buildings with retail totaling over $1 billion for properties with tremendous upside potential on the Upper East and Upper West Sides of Manhattan.
GM&Co was also instrumental in the development of the Forest City Ratner retail and Embassy Suites Hotel project and the 465-room Hilton Hotel on 42nd Street and Times Square. Together those deals amounted to $380,000,000. GM&Co has represented a consortium of sellers in off market transactions including an 88-building portfolio in West Harlem for $270 million, a 104 building portfolio in West Harlem for $500 million, the Herald Towers for $262 million and a 45-building portfolio that spans three boroughs, Manhattan, the Bronx and Brooklyn for $162 million. For more information about these Off-Market transactions and many more, please visit our Transactions page. GM&Co has relationships with lenders and other financial institutions buying and selling notes for multi-family and commercial properties in New York and nationwide. Indeed, GM&Co closed a note deal for a failed Brooklyn condo project in the amount of $100 million. Some of these institutions target large pools of notes for all asset types in primary, secondary and tertiary locations.
GM&Co also specializes in the sale of triple net lease investment properties containing long-term ‘A’ rated national retail lessees. We represent the owner and developer of a medical office complex in Central, New Jersey where we are leasing 33,000+ square feet of retail space to national retail tenants. Once leased, we will sell these buildings Off-Market as triple net lease investment properties with substantial added-value to raise equity for the developer as we target new development sites.
GM&Co has the expertise and knowledge to sell affordable housing properties. We have discreetly sold many affordable properties in New York and around the country, and we currently represent many buyers and sellers of large affordable portfolios.
Prior to establishing GM&Co, Ms. Malone had more than a decade of experience working on landlord/tenant issues as a full senior partner with a prominent New York law firm, and prior thereto as General Counsel of the Rent Stabilization Association (RSA), where she co-authored two books on landlord-tenant law. She has also served as a lobbyist for landlords and developers on issues before the City Council and in Albany. Ms. Malone was also an adjunct professor in commercial tenant and landlord law at New York University.
She has also been an active fundraiser in the preventative healthcare field. Ms. Malone has served on the board of the Weill-Cornell Medical Center for Complementary and Integrative Medicine. She also served on the board of the Delos Foundation, which helped raise millions of dollars to build a 350-acre healing center in Phoenicia, N.Y. for the Dalai Lama which offers alternative healing methods to treat chronic diseases.