OUR STORY - old

Our Story

Park Row Equity Partners (PREP) is not just a real estate firm, it is our family's personal story of how real estate can change lives.


In 1970, Philip Steinberg, the original founder of what is known today as PREP, purchased property on Park Row in Manhattan's Financial District. He was an accountant, and hoped that this would be a good investment to supplement his income and provide him with passive income during retirement. Little did he know that this investment would end up saving his family financially. Sadly, Phil passed away from brain cancer in 1977, but his widow Pearl Ginsburg, an educator with a humble salary, would have likely struggled to care for her four children had Phil not made this investment. The rental income generated from the property, together with the life insurance death benefit, helped her and her family more than just survive, but eventually thrive.  


Alan Steinberg, Pearl's youngest son, after earning his MBA, began his career as a commodities trader, and spent several years in that capacity before joining PRS in 1987. Within the next decade, PRS purchased and managed properties in the tri-state area. In 2015, the property on Park Row that started it all, was sold to a developer, and the capital was strategically re-invested into multi-family properties throughout the country. One year later, in response to requests by friends and family to co-invest, the firm began to accept capital from investors (our “equity partners”), thus establishing Park Row Equity Partners (PREP). 


PREP presently manages a robust national real estate investment platform, inclusive of capital from friends, family and outside investors. The firm is led by Alan, and his three sons, Phil, Donny, and Ira. Pearl remains involved until today, and is a fierce supporter of PREP’s mission to provide the opportunity for everyone to leverage the great benefits of real estate investing.


Our passion and conviction for the impact that real estate investing can have is highly personal. Real estate changed the trajectory of the Steinberg family and PREP business, and our mission is to enable more people to experience this life-changing impact. 


Real estate changed our story; it can change yours too.

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