Business Details
29 Years
experience
Expert Real Estate Development by The Pegasus Group
Founded in 1997, The Pegasus Group specializes in transforming urban brownfields into vibrant residential and mixed-use communities. Our expertise lies in transit-oriented development, environmental remediation, and public-private partnerships, with a focus on markets connected to New York City's mass transit networks. Over two decades, we've developed 2.5 million square feet of real estate, including 2,500 residences and $1+ billion in assets.Our principals bring over 100 years of combined experience in upscale multifamily development, with a commitment to preserving architectural integrity while meeting modern housing demands. We excel in complex urban infill projects, having pioneered market-rate developments in emerging neighborhoods like Hoboken and Harrison, New Jersey. Our track record includes award-winning projects recognized for design excellence and community impact.
Services
Transit-Oriented Development
Brownfield Remediation
Mixed-Use Development
Urban Infill Projects
Public-Private Partnerships
Residential Redevelopment
Parking Facility Development
Master Planning
Community Revitalization
Historic Preservation
Details
- Year established: 1997
Highlights and features
- We have developed over $1 billion in real estate assets since 1997
- Our team possesses 100+ years of combined urban development expertise
- Specialists in environmental remediation of contaminated industrial sites
- Pioneers in transit-oriented development along NYC's mass transit corridors
- Award-winning projects recognized for design and community impact
Services
Transit-Oriented Development
We specialize in creating mixed-use communities near mass transit hubs. Our approach maximizes accessibility while balancing residential, retail, and commercial needs. Projects integrate walkability features and sustainable design principles to create vibrant neighborhoods that reduce car dependency and enhance urban connectivity.
Brownfield Remediation
Our team transforms contaminated industrial sites into safe, productive spaces. We implement comprehensive environmental remediation strategies addressing PCBs, VOCs, and heavy metals. This expertise enables development in previously unusable urban areas while ensuring regulatory compliance and community safety.
Mixed-Use Development
We create integrated living environments combining residential, retail, and hospitality components. Our developments feature shared amenities and centralized recreation spaces that foster community interaction while optimizing land use in dense urban settings.
Public-Private Partnerships
We collaborate with municipalities on infrastructure improvements and environmental remediation. Our approach addresses broader urban challenges beyond project sites, including public parking solutions and community branding initiatives that create long-term value for all stakeholders.
Urban Infill Projects
We specialize in developing constrained urban sites through innovative design solutions. Our portfolio includes adaptive reuse of industrial buildings and creative parking solutions that maximize limited space while maintaining aesthetic and functional integrity with surrounding neighborhoods.
People
Richard A. Miller
Chief Executive Officer
With over 30 years in real estate development, Richard founded Pegasus after pioneering market-rate housing in Hoboken. He focuses on acquisitions, entitlements, and community relations, leveraging deep expertise in transit-oriented development and urban revitalization.
Michael E. Richman
Chief Operating Officer
Michael oversees design, construction, and operations. His career spans award-winning projects at Hines Properties and Pegasus, with recognition from the New York Real Estate Journal and BOMA. He holds degrees from Hamilton College and Boston University.
Edward Kohler
Chief Financial Officer
Edward manages financial strategy and risk management. Former CFO at Parkway Corporation, he brings expertise in complex real estate financings including public bonds and institutional equity. He holds an MIT engineering degree and has closed billions in transactions.
Questions
What types of real estate projects does Pegasus specialize in?
We focus on transit-oriented residential and mixed-use developments, brownfield remediation, urban infill projects, and public-private partnerships that revitalize underutilized sites in the NYC metropolitan area.
How does Pegasus approach environmental remediation?
Our team implements comprehensive strategies addressing contaminants like PCBs and VOCs, transforming polluted industrial sites into safe, sustainable communities while maintaining strict regulatory compliance throughout the development process.
What communities have Pegasus developed?
We've completed projects in Harrison and Hoboken, New Jersey, including Harrison Station (2,500+ residences), URBY apartments, Element Hotel, and Clinton Mills adaptive reuse development, with new projects underway in emerging markets.
What awards has Pegasus received?
Our projects have earned recognition including BOMA Building of the Year, NJASLA Chapter Awards, and media coverage in The New York Times and Wall Street Journal for innovative urban revitalization efforts.
