Based in Albany, New York, Harmony Group is a vertically integrated commercial real estate investment and development firm with a robust track record of identifying undervalued properties, transforming distressed assets, and executing highly complex development projects nationwide. Harmony Group is known for its expertise in restoring and revitalizing properties while maintaining their historical significance.
With Harmony Group, business partners set out to develop high-quality assets that would improve and better local communities. The group focuses on owning and operating best-in-class assets, ensuring a high standard of excellence and service. Harmony Group’s team is known for being responsive to its tenants' needs and the community. They are committed to providing unparalleled service, quality, and attention to detail.
The company places great importance on the preservation of historic buildings. Rather than demolishing structures, Harmony Group Capital, LLC, seeks to honor the past and integrate historical elements into modern redevelopment projects. Founder Kaufman believes that architecture is more than a functional necessity; it is an art form woven into the fabric of everyday life. Preserving architecture is central to each project, as it helps shape the identity of a neighborhood and fosters a sense of continuity for the community.
One of the company’s most significant achievements is the restoration of Harmony Mills in Cohoes, New York. This $25 million renovation project transformed the world’s largest cotton mill, built in 1872, into an 850,000 square foot complex featuring 231 luxury units along the Mohawk River. The goal was to create a modern loft-style community, similar to the SoHo/TriBeCa neighborhoods in New York City. The first phase began in 2007 with 96 units, and the second phase followed in 2010, adding the remaining 135 units.
The building features soaring ceilings ranging from 14 to 17 feet, indoor parking, a fitness room, an indoor pool, and a professional sta . Its Victorian architecture is complemented by a sleek design, o ering a perfect blend of history and modern amenities. The project has been praised as an exemplary e ort to preserve New York’s architectural heritage and is listed on the website of the New York State Historic Preservation O ce.
Another significant project for Harmony Group is the redevelopment of the Albany Lofts at One Broadway. The project involved converting the Albany Felt Company headquarters in Menands, New York, into high-end residential lofts. The building, originally founded in 1895, now features 145 studio, one-, two-, and three-bedroom apartments. The project preserved key elements of the original building, such as industrial windows, high vaulted ceilings, and hardwood floors, o ering a blend of modern living with historic charm.
The revitalization of these once-abandoned mills and factories has profoundly impacted the communities in which they are located. For example, the renovation of Harmony Mills helped breathe new life into the City of Cohoes, which had experienced decades of decline. The project significantly reversed the city’s population decline, marking the first increase in residents since 1930. The project has become a prime example of how the adaptive reuse of historic buildings can revitalize cities and stimulate growth.
Founder Uri Kaufman, originally an attorney from Long Island, New York, was drawn to the potential of real estate development in Upstate New York, where many underused architectural gems were perfect candidates for redevelopment into residential lofts. Kaufman left his legal career to pursue his passion for historic preservation and
community revitalization, founding Harmony Group. His vision was to transform neglected industrial buildings into vibrant, livable spaces that would preserve the past and contribute to creating long-term value in the community.
Under Kaufman’s leadership, Harmony Group has successfully developed and restored numerous properties, blending historic preservation with modern living spaces. His commitment to maintaining the cultural and architectural significance of each project continues to drive the company’s success and its impact on the communities it serves.