MAG Partners LP

Yesterday, we marked a major milestone in Baltimore Peninsula, opening our partner Pinky Cole’s Slutty Vegan restaurant. While we are excited about strong retail that provides a dynamic streetscape and jobs for Baltimoreans, this opening represents so much more for our mission for this development project. Born and raised in Baltimore, Pinky Cole represents the spirit and tenacity of her hometown and shows us all that dreams do come true. Pinky is committed to investing in the city that raised her, and we are proud to welcome her home! We also are proud of our teammates' hard work in making this happen. Claudia Jolin , Chenire Harrell-Carter, Kim Bowling Clarence "KD" McNair

2024 was a year of resilience. As we reflect on the performance of MAG Partners in 2024, we are grateful to be celebrating major milestones while facing tough economic headwinds. Through high interest rates, a credit crunch, and recession worries, our perseverance drove results, and we were able to deliver on our mission to build top quality communities and produce great outcomes for our partners. As is our year end tradition, we look back on our achievements and acknowledge the many partners who helped us move forward successfully. What a year we had! 🌆 We stabilized 1M SF of residential development in New York and Baltimore with great success. We have the best residential product in Charm City and our rents at Ruby continue to outperform proforma. 🏗️ We are constructing 400 new units of residential housing in Manhattan, celebrating two topping outs in May at 335 8th Avenue and 300 East 50th Street. Both buildings open summer of 2025. We are very bullish on multifamily and welcome the City of Yes program to help bring more housing to a city facing an ever-growing historic housing crisis. 💫 We opened future-forward workplaces, attracting thousands of teammates for CFG Bank and Under Armour to new offices at Baltimore Peninsula. Now we are building out over 200K SF of retail and office space and in 2025 we will be cutting multiple ribbons in Baltimore! 🍲🍷 🐕 💃 We curated unique and beautiful places with memorable retail and experiences in both cities. Baltimore Peninsula is now the best foodie neighborhood in town, and our waterfront community programming was enjoyed by tens of thousands of visitors who experienced salsa dancing, outdoor movies, exercise classes, and more. In Chelsea, we welcomed dog care and a spa concept to Ruby, bringing quality and wellness to our residents and neighbors. With much to be thankful for, our ambition and team continue to grow, and we can’t wait to share news about our new development pipeline in 2025. On behalf of MAG Partners, we wish you a sweet holiday season and joyous New Year. P.S. 🎨 Please enjoy this original artwork of our portfolio by our very own Andie Krefsky, Assistant Vice President of Construction.

We witnessed a remarkable transformation in Baltimore Peninsula in 2024, capped off by our partner Kevin Plank's opening of the world headquarters of Under Armour. Check out MaryAnne Gilmartin's inside view of this remarkable HQ.

The masonry at 300 East 50th is starting to shine 🏗️ ✨ Every detail of the facade is being revealed brick by brick. As the glass protection comes off and the masonry gets its final wash down, this building is ready to stand tall and proud! Urban Atelier Group King Contracting, Inc. Group Safanad Global Holdings Management Group

Congrats to Andie Krefsky on her 1st anniversary with MAG Partners! We appreciate your hard work and dedication to making our projects great!

The Commercial Observer’s annual Owners Magazine published today, and MAG Partners resoundingly said “YES” to “Are you going to buy in ’25?” As MaryAnne Gilmartin shared in the survey, the underlying demand drivers of multifamily in New York City remain strong and the housing crisis is very real. The market needs more rental housing and MAG Partners sees it as our commercial and civic duty to continue to deliver this asset class. As we learn to navigate 485x, we’ll continue pursuing viable ground-up sites and continue to build our multifamily portfolio. Like many of our fellow owners, MAG Partners thinks capital formation is back. The right deals — paired with high-caliber sponsorship in good markets with a strong business plan — will secure the capital. When it comes to development, New York is the greatest city in the world if you have the appetite for the fight. Nothing in this business is ever easy, but it’s never impossible. https://lnkd.in/eBuXqYdf

The Tata Innovation Center at Cornell Tech through your lens. With a stunning perch at the center of the East River, this hub for collaboration was designed by WEISS/MANFREDI Architecture/Landscape/Urbanism to drive the future forward. Swipe to see some snapshots that capture the unique beauty of this landmark from your eyes. @victorianycphotography @weissmanfredi - Sketch @dboxphotography @jcreaturetravel @skidmoreowingsmerrill @albertvecerka

Let’s be a CITY OF YES. Yesterday was a historic day for New York City as the Administration’s ambitious plan to rehaul zoning and build more housing for New Yorkers passed the City Council. As the Council was voting, MaryAnne Gilmartin spoke at the 57th Annual Conference on Capital Markets in Real Estate at NYU Schack Institute of Real Estate as part of the Golden Apple Panel. Sitting beside Marty Burger of Infinite Global Real Estate Partners, Scott Rechler of RXR, and William Rudin of Rudin, MaryAnne helped the students understand why this generational change is so important. With housing starts down dramatically and a need for 50,000 new units built a year to meet demand, the public sector’s efforts to unleash a new wave of building are to be congratulated.

Attendees were able to gain perspective on large-scale development work in Baltimore, Tampa, and Oakland without having to leave Manhattan yesterday at the annual Columbia Business School Real Estate Symposium. Alongside Isaac Abid, Founder and Managing Partner, Lakeside, and Josh Taube, CEO, Strategic Property Partners, MaryAnne Gilmartin talked about the challenges, successes, and surprises at Baltimore Peninsula. Topics ranged from facing the doubling of interest rates, designing and planning approaches to a blank canvas, and the importance of activating the ground plane early and often. We are grateful to the Paul Milstein Center for Columbia Business School at Columbia Business School for including Baltimore Peninsula in a dynamic day of programming.

Congratulations to Sydney Cowles on reaching the two-year milestone with MAG Partners! From the outset, Sydney has demonstrated exceptional marketing skills, ensuring that our projects put their best facades forward. We appreciate all your contributions, Sydney!