Mikhael Heletz
Mikhael Heletz is the Founder and Chief Executive Officer of Heletz Group. At a young age he entered real estate with a clarity of purpose that would define everything that followed.
He began in capital markets financing real estate before moving to acquisition and development in 2009 — building and repositioning multifamily buildings across New York City when the neighborhoods he operated in were overlooked and undervalued. Crown Heights before the market arrived. Bedford-Stuyvesant before the buyers came. Long Island City when it was still masonry yards and steel shops. Distressed assets others walked away from. Luxury markets pioneered before the broader market arrived. Complex assemblages, rezonings, and air rights strategies that required a depth of knowledge most developers don’t have and a willingness to do the work most won’t.
The work reached beyond New York — co-developing Monad Terrace in South Beach, a 59-unit luxury waterfront condominium on Biscayne Bay designed by Pritzker Prize-winning architect Jean Nouvel, in partnership with JDS Development Group.
Over two decades that became Heletz Group — a vertically integrated firm with over $500 million in project value across New York and Miami. Every phase understood. Every phase controlled from within.
- 2004
Began career in capital markets financing real estate.
- 2010–Present
Ongoing acquisition and repositioning of multifamily assets across New York City — value-add deals ranging from one-to-four family buildings to larger multifamily properties, active throughout all five boroughs.
- 2010
Acquired 25 stalled three-family buildings across Prospect Place and St Marks Avenue, Crown Heights — navigating a complex foreclosure with multiple liens and unfinished construction. Self-performed construction, converted to 75 condominiums as Promark Condominiums, and pioneered the condo market in the neighborhood. Sold 50% within 30 days of launch at record prices. Sold 26 units to Habitat for Humanity.
- 2013
Exited Promark Condominiums after full 75-unit sellout. Began Throopkin Kollection assemblage in Bedford-Stuyvesant. Began Vernon Tower assemblage in Long Island City, closing on the first parcel of a former masonry-yard site in November.
- 2014
Founded Excel Development Group, LLC — bringing development, construction, and property management in-house. Completed the Vernon Tower assemblage with the second parcel closing in January and a DEP sewer easement that unlocked a site others considered unbuildable. Began demolition in September.
- 2015
Broke ground on Vernon Tower in September — 103-unit ground-up residential development including 21 affordable units, Long Island City. Began the five-parcel East 33rd Street assemblage in Kips Bay, Manhattan — air rights acquisition and rezoning strategy. Launched the Throopkin Kollection luxury townhomes in Bedford-Stuyvesant, pioneering the luxury market in the neighborhood.
- 2017
Full sellout and exit of the Throopkin Kollection — luxury townhomes sold at record prices in Bedford-Stuyvesant.
- 2018
Vernon Tower completed and leased up — 103 units including 21 affordable. Secured rezoning approval for East 33rd Street from R8A to C1-9A.
- 2021
Acquired 539 West 54th Street, Hell's Kitchen for $25M. Acquired 522 State Street, Brooklyn. Co-developed Monad Terrace, South Beach Miami — 59-unit luxury waterfront condominium on Biscayne Bay, designed by Jean Nouvel, in partnership with JDS Development Group.
- 2023
Filed and received approval for Hell's Kitchen tower plans. Completed demolition at 539 West 54th Street.
- 2024
Full sellout of 522 State Street — all units sold. Acquired 175 14th Street, Brooklyn for condominium development.
- 2026
Executed profitable $30M exit on 539 West 54th Street. Acquired 189 and 191 13th Street, Park Slope, Brooklyn. East 33rd Street construction start targeted Q3 2026.