About Criterion

“A culture that encourages creativity and unconventional thinking across disciplines”

Founded in 2002, Criterion Group is a New York City real estate development firm with a portfolio that covers 2.25 million square feet and 2,400 apartments, primarily in Long Island City and Astoria in Queens.

Criterion’s long term presence in these Queens submarkets — not only as developers, but as residents — has allowed the company to unlock value before institutional and general interest investors entered them. As one of the first developers in the area, Criterion continues to focus on primarily multifamily residential projects in Western Queens. Criterion and its staff, all of whom call Western Queens home (most since childhood), are intimately familiar with every block of these inter-connected neighborhoods.

Criterion’s model is a vertically integrated, design-built platform where constant education has enabled the team to learn from prior experience and continually improve their development strategies. Through a culture of interdisciplinary knowledge, the team performs and evaluates every step of the development process.

Our Team

Criterion’s managing team has experience in many aspects of the real estate market including identification of assets, due diligence, market research, capital formation, acquisition, investment structuring, and asset management. Our team of architects, engineers, construction managers and financial analysts provides in-house support for each of our developments.

Shibber A Khan

Founder & Principal

Shibber Khan emigrated to the US with his family in 1980 and settled in the Astoria/LIC neighborhood of Queens, NY, and has remained a resident ever since. He founded Criterion Group in 2002 with the launch of his first project, an eight-unit development in Astoria. Shibber was intimately involved with every stage of the project, spearheading the entire process of development and construction. He has since grown Criterion into a prolific New York City development firm, building a team of real estate experts and a portfolio of more than 2.25 million square feet.

Matthew Lawrence

Vice President, General Counsel

Matthew Lawrence manages acquisitions, design, marketing, planning and land use, and outside legal counsel for Criterion’s projects. Prior to joining Criterion, Matthew was an Operations Executive and Code and Zoning Compliance manager at Design 2147, Ltd, where he analyzed development feasibility of over one hundred million square feet at hundreds of locations across the five boroughs and then created and implemented strategies to navigate various city agency approvals. Matthew graduated from Rutgers University and Brooklyn Law School, where he also worked for Bill de Blasio creating land use policy. Matthew is a member of the Brooklyn Bar Association’s Real Property Section and the New York City Bar Association’s Land Use Planning and Zoning Committee.

Lynn Xue

Chief Financial Officer

Lynn manages the accounting and operations for all of Criterion’s properties and has been with the team for over a decade. Lynn has over 17 years of Property and Project Management experience, with an emphasis on residential development finances and management.

Randhir Manglick

Senior Vice President

Randhir Manglick has over 20 years of construction experience and since 2004 has overseen Criterion’s
construction activities from conception to completion. Prior to joining Criterion, Randhir lead construction with a multitude of multinational construction companies with projects in India, Kenya, Germany, and Ghana.

Hakim Dyer

Project Finance & Underwriting

Hakim Dyer is a finance professional with over 30 years of experience as a senior lender, real estate developer, corporate financial officer in construction and technology companies and as a venture advisor/investor. His work at Criterion focuses on assessing new opportunities, structuring related financial transactions and proposal writing as well as managing analytical workflow.

Dr. Steven Pan

PhD, PE, Vice President - Structural Engineer

Dr. Pan works on quality control, value engineering, and design implementation at all stages of development. With more than twenty years of extensive experience in the design of structures utilizing cast-in-place concrete, precast concrete, structural steel, and masonry. With engineering and doctorates degrees from Tongji & Zhejiang University, he has designed and managed projects for high-rise office buildings, residential buildings, schools, hotels, shopping centers, hospitals, parking garages, and the rehabilitation of existing buildings. Dr. Pan‘s expertise lies in complex structure, code usage, model analysis, and deep foundation design.

Dalton Brown

Associate Vice President

Dalton Brown plans and implements permitting requirements for development projects from inception to completion. Dalton has extensive experience in navigating the multitude of New York City Agencies on various projects types including residential, office, and mixed use. Prior to joining Criterion, Dalton worked at Design2147 as a project manager for their School Construction Authority Department (SCA) where he executed strategies, filings for new buildings, and additions.

Jin Han

Project Architect

Jin Han is an architectural designer whose work centers on schematic design, design development, and graphics, coupled with massing studies, financial feasibility studies, and due diligence as a response to planners and developers as well as architects and engineers. Jin’s experience ranges from drawing details of the smallest spaces to multi-story buildings in both the commercial and residential sectors. Prior to joining Criterion, Jin worked on over one million square feet of both commercial and residential construction projects for Haak and eu. k architects.

Md Saifur Rahman

Financial Quantitative Analyst

Saifur Rahman has a background in project risk assessment and modeling. Prior to joining Criterion, Saifur completed a master’s degree in Engineering from N.J.I.T.. Saifur’s role at Criterion is to research and apply performance measurements to facilitate deal flow. The development of in house analytical tools are created by Saifur to examine project costs. Saifur’s expertise lies in facilitating building engineering tasks, financial underwriting, scripting, research, and risk assessment.

Our Approach

Why we stay local.

Criterion Group’s goal is to invest in buildings that provide contemporary and fully amenitized living. By focusing on local markets, we cater to niche demands and avoid the risk associated with luxury assets, whose value is more subject to market pressures on a national and international level. We have achieved success by recognizing untapped potential where others see only difficulties. By approaching each investment property as a stand-alone business, we create maximum value for our partners. This philosophy, combined with a culture that encourages creativity and unconventional thinking across disciplines, has enabled Criterion to acquire and manage its expanding asset base.

The investment strategy.

At Criterion, every investment begins with a comprehensive valuation and acquisition process. Criterion makes accurate and timely decisions in-house, allowing us to move quickly on opportunistic investments. Local market knowledge and expertise is central to the formulation and execution of our investment strategy. Our extensive network of relationships enables us to identify and pursue opportunities long before they reach the market. Criterion’s equity partners gain access to privately negotiated, off-market transactions and benefit from our proven expertise in leasing, property management, and asset management.

Vertical integration.

Criterion’s vertical integration is the key to our success. Our multi-disciplinary teams enable us to envision and act upon a broad array of possibilities for each of our developments, and to manage outside service providers effectively. Our smoothly integrated services generate high quality work, reduce project turnaround time, and add value to every aspect of our developments.

Our due diligence process includes:

  1. Analysis of the supply and demand dynamics in the selected market and submarket.
  2. Exhaustive analysis of rent rolls, expense line items and capital requirements.
  3. Through local knowledge and hands on experience, we determine if an opportunity has underlying value that can be unlocked.
  4. Detailed review of the existing or proposed financial structure.
  5. In-house management and coordination of legal counsel, environmental consultants and property evaluation. Third party reports are obtained to verify all key elements of a transaction.

Our Projects

View Details

EXO 26-24 21st Street, Astoria, NY

Type Residential

Units 117

Gross SF 124,197

Lot SF 16,729

Project Duration 36 Months

Status Completed


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Broadway Residence I,
11-15 Broadway, Astoria, NY

Type Residential

Units 79

Gross SF 88,137

Lot SF 20,106

Project Duration 42 Months

Status Completed


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Broadway Residence II,
12-15 Broadway, Astoria, NY

Type Residential

Units 214

Gross SF 196,681

Lot SF 40,000

Project Duration 31 Months

Status Completed


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30-50 Apartments,
30-50 21st Street, Astoria, NY

Type Residential

Units 65

Gross SF 62,059

Lot SF 14,700

Project Duration 30 Months

Status Completed


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11-39 49th Avenue,
Long Island City, NY

Type Residential

Units 194

Gross SF 161,556

Lot SF 26,415

Expected Completion Q1 2018

Status Under Construction


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Northern Blvd Project
Long island City, NY

Type Self-Storage, Commercial

Gross SF 260,000

Lot SF 51,385

Status Design & Development


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Queens Plaza North Project
Long Island City, NY

Type Mixed Use

Gross SF 1.5 Million

Lot SF 145,045

Status Design & Development