About Stonegate
We invest beyond the obvious.
Stonegate was established in 2010 around a straightforward conviction: real estate creates its greatest opportunities when current condition and long-term potential are not yet aligned.
From individual assets to the places around them.
Sometimes value is hidden by weak operations or deferred improvements. Sometimes it sits in an underused site. And sometimes it appears in a location whose future is clearer to an early participant than to the wider market.
Stonegate was built to act on those situations. Our experience spans multifamily, residential and commercial real estate, including distressed and value-add acquisitions, ground-up development, construction, repositioning and active management.
We approach each opportunity with the same questions: What is constraining the asset today? What will the market need tomorrow? Is there a practical, financeable and sustainable path between the two?
Investment Philosophy
Value starts with a credible path to execution.
We assess the property, the site and the surrounding market. That includes local supply and demand, comparable transactions, rents, development activity, current operations, zoning, capital needs and broader economic conditions.
Analysis alone is not enough. We invest when the thesis can be translated into an actionable plan—and when our team can remain close enough to the work to manage risk, respond to change and protect the long-term objective.
Look beyond current condition.
An underperforming asset and a poor asset are not the same thing. We identify the sources of underperformance before deciding whether value can be created.
Underwrite the full journey.
Acquisition price is only one variable. We consider entitlement, construction, leasing, operations, timing, capital and exit alternatives from the outset.
Stay close to execution.
The team that shapes the thesis remains engaged as the property moves from plan to operation.
Think in years, not headlines.
We favor durable demand, responsible ownership and decisions that strengthen an asset's long-term place in its market.
From Properties to Neighborhoods
The future of an asset is connected to the future of its location.
Stonegate has participated in areas at an early stage of change, acquiring and developing real estate that supports new residential activity and wider investment momentum.
Passaic's waterfront is an important example. Stonegate recognized the opportunity presented by underused industrial real estate near the river and participated in development intended to bring new housing and commercial activity to the area.
This reflects a central part of our perspective: identify not only where value exists today, but where people may want to live, work and invest tomorrow.
Leadership
Experienced across the investment lifecycle.
Stonegate is led by real estate investors, developers and operators with experience across acquisitions, financing, entitlement, construction, leasing, property operations and asset management.
Steven Gelbtuch
Co-Founder & Chief Executive Officer
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Responsible ownership. Long-term thinking.
A well-executed real estate project can strengthen an investment while improving the quality and usefulness of a property for the people around it. That requires attention to operations, tenant experience, capital stewardship and neighborhood context—not only the transaction.
This has guided Stonegate since 2010 and continues to shape how we acquire, develop and manage real estate today.