MaryAnne Gilmartin

Going toward the second decade of its formation, MAG Partners has three goals driving its performance: diversification, scale and capitalization.

“We have been demonstrating over the last five years that we can build beauty and create value for partners, investors and communities,” MaryAnne Gilmartin said. “I just feel so proud that as we go between 2025 and 2026 that we are bona fide, we are legit, and we have an incredibly exciting pipeline going into 2026.”

The hits kept on coming for MAG Partners through 2025 as the firm saw strong leasing momentum at the Ruby, its luxury rental property in Chelsea. MAG Partners worked on refinancing the Ruby in 2025, securing a $210.8 million loan through Oaktree and Sumitomo Mitsui Banking Corporation (SMBC) in 2026.

“You can build a building, it can be wildly successful from a leasing point of view, it can be an object of beauty,” Gilmartin said, “but if it’s not capitalized properly, it can really change the economics.”

MAG has also secured a $148.7 million refinancing from Goldman Sachs Alternative for its recently completed mixed-income rental the Mabel at 335 Eighth Avenue. The 188-unit property is now fully leased just one year after completion.    

“This is an example of diversifying our lender relationship,” Gilmartin said. “Goldman Sachs Alternatives are the guys that gave us that loan, and with Ruby, similarly, we’re doing our first-ever deal with Oaktree and SMBC under the MAG Partners name. It’s super exciting. So capital, capital, capital, and that’s a big piece of what we’ve been focused on.”

MAG has also teamed with Eyal Ofer’s Global Holdings to develop a 149-unit residential tower at 122 Varick Street, which will be developed under a long-term ground lease with Trinity Church and utilize New York state’s 485x property tax incentive program.

New York City isn’t the firm’s only geography of focus. MAG Partners is also working on a supertall in Miami, which will be a mix of hospitality and condo. It’s part of the firm’s diversification efforts, not just with its capital lenders, but with the regions in which it operates. MAG is looking to grow its talent pool, too.

“We’re scaling the team to round out the skill sets, while at the same time keeping our special sauce, which is that we are highly entrepreneurial, but we’re institutional in our sophistication, our process management and our partner reporting,” Gilmartin said. “We want to grow so carefully. So we will stay nimble, we’ll stay fast, we’ll stay creative, and we’ll stay human.”