Residence Amherst, New York Name Kevin Maloney Spouse(s) Tanya Babic Maloney | Occupation real estate developer Nationality United States | |
 | ||
Full Name Kevin Patrick Maloney Born December 5, 1958 (age 65) ( 1958-12-05 ) Education B.A. University at Buffalo Known for founder of Property Markets Group | ||
Kevin P. Maloney (born December 5, 1958) is an American real estate developer and founder of Property Markets Group.
Contents
Biography
The son of a lawyer in the United States Marine Corps Maloney was raised on a farm. He graduated from University at Buffalo where he used his student loans to purchase several properties. After college, he worked for Chemical Bank in New York City and then Ensign Bank where he was responsible for their real estate unit. In 1991, he founded Property Markets Group which specializes in residential projects in New York, South Florida and Chicago. In 1994, Gary Barnett (who would later found Extell Development Company) and Ziel Feldman (who would later found HFZ Capital) joined him as principals of the firm.
Maloney has developed or is developing a number of prominent buildings including the 60 story, 750 foot Echo Brickell in Miami, the $160 million condominium project, Echo Aventura, in Aventura, Florida, and two projects being co-developed with Michael Stern, the 1,428 foot 111 West 57th Street in Manhattan, and the Walker Tower at 212 West 18th Street in Chelsea which they are converting into condominiums.
PMG typically partners with other firms who are having some difficulty closing a project and need additional capital or expertise. 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.
Personal life
Maloney lives in Manhattan and Miami. He is married to Tania Babic who is from Wales; they have one daughter, Madeleine Rose. He also has two adopted children from a previous relationship.