102-Unit Residential 2,500 sf Retail Elevator Apartment Property
We instituted programs to turn vacant and unused space into rental space and established a new leasing program which led to a 30% increase in rental revenues. We also completed significant building system upgrades including elevators, roof areas, intercom systems and Local Law 11 compliance. We are presently in the process of conducting lobby and common hallway upgrades.
125-Unit Five-Building Walk-Up Apartment Property
We led the turnaround of the property’s financial operation by instituting new tenant rent collection methods. As a result, this once cash-strapped property, produced excess funds which enabled us to improve building cosmetics and conduct unit renovations, leading to an overall stronger bottom-line and fully stabilized property.
We also established new management reporting procedures to keep ownership abreast of management’s actions.