Property Management Companies

Penmark realty is the best- i work with mgmt companies so i know many of them, they handle everything, but really speciialize in small boutique builidngs (able to keep the cost down and still receive top-notch service. hope this helps.

thank you. Any others you can suggest. I have two others i am looking at as well. Any to definately stay away from?

Orsid runs good buildings.

orsid is ok, but the best by far is penmark, i can't say enough on how well they handle and service the building, keep costs down, have excellent service always available and are constantly working with buildings and service is always top-notch

would stay away from any small agency, that dosen't represent trophy buildings or similiar buildings as you have-

i would look for a company that has experience with your type of a building, large, small, boutique, high end- it really varies and i need more info on your building how many units? union/non-union doorman non doorman, live-in super? will building need local 11? these are all real important questions remember you are using the mgrs contacts for repairs, service, expertise, handling of personnal, keeping costs down, and keeping service up, etc.

dledven - I met with Penmark and was really impressed. Their upper management is fantastic with an amazing breadth of knowledge. Any thoughts on the company when the owner decides to retire? I got the feeling he really is the backstop of the place.

Does Penmark handle your building?

By the way, building is union, low 200's units, full service, in excellent shape, but needs good management team to handle staff properly, idea on keeping costs down, technology upgrades etc.

dledven - By the way, thank you.

Any comments on Cooper, Greenthal, Gumley Haft, Akam, Rose. I am staying away from Brown Harris, Elliman and ones who use management as a tool for real estate business.

Andrews is awful. Avoid them at all costs.

No problem, Penmark does not handle my building but i work with many managment companies, they are the best, solve all problems and keep costs down. Bernie is excellent but so are all the property managers, i can highly recommend Neil, and Nancy at Penmark.

I work with Gumley, Century and Rose (Rose handles my building, they suck, great at kissing up to MGMT and pretending to do their job). Avoid at all costs, you see its the little things that count, Penmark fixes the problem, they watch over the building and the financials to ensure quality control with no execuses.

Let me know if you go with them, you won't be disappointed.

I am a board president of a Manhattan condo with 170 units, luxury, full service. We use Greenthal and have for about 10 years. They do an excellent job for us but I think that's somewhat due to having a really good person assigned to our building. Your day-to-day person makes all the difference. But we also like Greenthal's size which means they can offer us insight and ideas based upon the experience of other big condo buildings. They're particularly strong on big projects and also doing a turnaround on a building that's not been running to its full potential.

Thank you for all your comments. It has been helpful.

dledven - I agree on Rose. Horrible. Bernie was excellent at Penmark, but what about when he retires? You mentioned Penmark great for smaller buildings. Thoughts on a low 200's unit building like mine? Bernie, because he also owns units in many buildings, i think was key at Penmark. They did things nobody does, like bulk purchase of NG. Got the feeling they run buildings smart. Thought on whom to request as a property manager candidate? I am meeting who they think I should have next week.

NextEra - I found Greenthal good, but very dated in all their processes compared to Penmark and Cooper.

Anyone comment at all on Cooper? I am between Penmark and Cooper and having a bake off with the entire board. I've eliminate everyone else, Gumley is 3rd. Dan was very good there.

Glad you eliminated AKAM. I was on the Board of a building we moved out of. We fired the managing agent and hired AKAM. I was sort of OK with them at the time, but really preferred Cooper Square. AKAM takes very good care of their trophy buildings (eg., Beresford), and gives little or no service (but lots of promises to everyone else. Our agent was worthless--no experience, promise everything, deliver nothing. Could not even enforce a cleaning schedule. Total disaster.

You fired Cooper Square? May I ask the reasons?

mh23- What did Andrews do or not do to earn your wrath?

Sorry, my posting was not at all clear. We had a mgmt company for years and years--let's call them XXX. We fired XXX, and I would have preferred to go with Cooper Square, but we went with AKAM instead. AKAM was a mistake.

cdrvf, the bigger buildings are easier to manage they have more units and can spread the fees through out, when it comes to small boutique buildings (25-75 units),and Penmark keeps the costs down and the building is perfectly kept, always serviced right. That is much harder to do, I can highly recommend Neil Greenberg (his portfolio is booked, but if you request him you should be able to get him) he is my favorite, complete control of all his buildings, common sense managing style, always on call, his buildings are the best kept, he takes pride in it.

Take to consideration fees that managing company charges on rental/sales transactions:

For example:
$400 - proccesing fee (to mgmt company)
$250 - closing documents preparation fee (to mgmt company)
$300 - transfer fee (to condo)
$100 - document re-submission fee (to mgmt company)

one building has
$1000 - move in fees (refundable only when tenant moves out)
Something that comes to play when you want to sublet your unit and have to compete with similar available apartments in other buildings.

elena
(broker)

dledven - Thanks again. I am meeting with Leslie/Bernie/Terry and who they think would work best in our building to manage it this coming week. Will let you know how it goes.

Also meeting with Cooper

my building used to use akam which was horrible
we use siren now which is meh

I've had good dealings with Orsid in the past

keep me posted, you will be very happy, I would also ask to meet with the property manager, this way everyone is on the same page, (if you meet or request Neil Greenberg,you will see he is a straight shooter) and on the ball!

how do you convince a board to change managing agents? who has more power, the board or the managing agent?

our board changed our bldgs management after they failed to fix a variety of problems over the span of about a year

started another thread because have a bad board as well so doubtful they'd do anything useful

so fed up

dled - For the two in my finals, I asked them to bring to the final interiew, the property manager they think would suit us. I'll ask Leslie about Neil.

Do you have any comments at all on Cooper?

cd- I have never worked with them (Cooper), and I don't know which buildings they manage, so I can't comment. Sorry. keep me posted.

Stay away from Brown, Harris, Stevens, they manage my buidling, a disaster.

Elliman is corrupt...they are all about kickbacks...stay away.

I have to ask you guys since you are all involved in or owners of major buildings. My dad
is a super by proffession with 20 years experiance running 500 units and 200 unit buildings with full staff and is a Plumber by trade who can handle all facets of a residential building from managing a staff to running multiple boilers and handling all the Plumbing with no questions ask.

My dad is looking to get a buildng again in NYC, but it so hard to get one these days everything is email, the reason he left his other super after 10 years was because my grandmother died in Europe and he had to leave the country and was gone for almost a year handling certain things, he is now working as a Building manager in Jersey, but really desires to come back to NYC. he has all liceases and is a real asset to any building or property management , but to day with e-mails it is impossible to talk to someone, can anyone reccomend anything or a company to call or if any one of you are looking for a super, anything please e-mail me or respond here. I think I came accross tis web-site by luck ( hopefully)

zenshin416@yahoo.com

Please forgive typo's it is late.

AVOID JORDAN COOPER @ all costs, (Paul Bernsilber). Incompetant,inexperienced agents who are on the take.

Sorry, that was Paul Brensilber @ Jordan Cooper.

Yes. The company Jordan Cooper run by Paul Brensilber is very sleazy because HE'S very sleazy. It's very obvious after spending two minutes with the guy. I feel sorry for people in buildings he manages.

Anyone has dealt with Lawrence properties?

This is generally a pretty schlocky business. Tudor Realty is typical of the low-end, everything-is-an-effort, tons of mistakes type of company from my years of experience with them in my old building. They eventually get it right, but getting there wasn't pretty. And yes, it depending hugely on who was assigned to the building. But don't bank on that too much. This is a business with tons of turnover, low pay, buildings constantly crying about the management fees and the management companies constantly trying to reduce their costs.

My experience thus far with Greenthal is limited, but they have appeared completely competent, knowledgeable and responsive so far in contrast to Tudor.

Who would you recommend for a small coop (76-96 units)on UWS?

Re: which building manager to use for not-so-huge residential bldgs. I'm an architect and have had a good experience so far with using Cooper for all info leading up to a renovation. They seem up front, and to run a tight ship and really know the issues of building infrastructure. Alissen Williams terrific, she's an assistant manager.

cd- who did you end up going with?

Cooper Square has been a big disappointment to many of us in my building. They cater to the Board of Managers because this is who keeps them on rather than looking out for the best interest of all. I don't know if this is different then most management companies, but there must be some reliable ones who have more integrity

Luce1, I don't understand your criticism. The board should be providing oversight to the managing agent. Isn't it natural for Cooper Square to be responsive to their wishes. Maybe you are not happpy with your board?

Lawrence managed "525 east 80". They always defended the super while he lived in Pennsylvania and maintained a rent free apartment in the building. I wonder why they protected him. They always had 3 reps in annual meeting but when a tenant calls they were very slow to return calls.I believe they were over paid and I would not recommend them at all.

The individual property manager who handles you account is even more important than the company, because they are the one's who are really doing the management. The problem is, there are even fewer good property managers than good RE brokers. The simply answer is that because if you look at the rather large skill set it takes to be a good property manager, anyone possessing such a skill set can make much more money than people are willing to pay to manage their buildings.

Generally speaking, all the property management companies must remain relatively price competitive or no one will use them. As such, it prevents them from hiring individual agents who are highly skilled, because they would have to pay them an amount which would force them to have pricing much higher than their competition. So what happens is that some buildings get lucky and get one of the very few individual agents who really knows what they are doing, and they say they love their management companies, but other buildings using that exact same firm hate the managing agent because the person handling their building isn't anywhere near as good. It's really the same with brokerage: people put way too much emphasis on the firm and not nearly enough on the agent. You're much better off with a brilliant agent in a "no name" firm than an idiot with a "big name" firm.

Anyway, back to managing agents: if there was someone with the huge skill set it takes to be a really good managing agent, they could easily get a job doing lots of other stuff (like RE Brokerage) and make $150,000 a year. Generally speaking, agents can handle about 4 buildings before getting overloaded. So, if a Management Company want to pay $150,000 plus benefits, it would probably cost them what? $200,000 per year? So they would have to charge $100,000 a year for managing buildings. Are there Coops out there who routinely pay the much? I'm sure not many (and if they did, it's probably in buildings which are so large that hey require a full time managing agent, so the numbers quadruple).

Yes you are right Riversider. The board in our building is a nightmare and the management company gets it's direction from the Board. I will not mention publicly some of what has occurred, but if a management company knows that the board is not acting in the best interest of the condominium, and the management company knows that the board is doing questionable things, do you think they should go along with this and endorce the dishonesty? I certainly don't recommend Cooper Square.

Does anyone know if Schneider & Schneider is any good?

Calling Paul Brensilber @ Jordan Cooper and Associates is an understatement. He not only a liar but he also refuses to take appropriate actions when problems are brought to his attention. Why anyone would pay $11 Million for a building, 10 5th Ave, and then hire Jordan Cooper & Associates to manage it is beyond me, perhaps they do not care about their investment, but in the long-run it will cost them.

XL Real Property Management is awesome! I have been using them for 6 months and I have not had any problems like in the past! They are completely trustworthy. I couldn't be happier with their work.

http://www.xl-rpm.com/

Stay FAR away from Pistilli.

I logged in JUST to respond to this. Having lived in various UES and UWS co-ops in the last 20 yrs, I agree with 30yrs_RE_20_in_REO that the actual person helping you is key. They should be responsive, pleasant, and efficient. We had a GREAT relationship with JC Lamb at a 60-70 unit co-op. Decent fees, and a very good agent. We've had TERRIBLE service with Orsid realty, both with the overal mgmt company as well as 3 terrible agents that were rude, impossible to get a hold of, and in spite of having worked there for decades, seemed to know nothing about Manhattan co-ops or our building. Hope this helps

meet with Cooper Square if you want your owners and building to be milked like a fat cow for every loose cent.

Cooper Square's fees are outrageous

Akam is not much better

STAY AWAY FROM JORDAN COOPER AND ASSOCIATES. PAUL BRENSILBER, to be more specific!!!

Paul Brensilber is a liar and a crook. He is the most unprofessional person I have ever encountered. Not only is he lazy, he is rude, argumentative and vulgar. His shady antics need to come to light. He will be found out!!! I am so happy to never have to deal with this repulsive man ever again. Carol Richards is also a waste of time.

BE WARNED. STAY AWAY FROM JORDAN COOPER. DO NOT TRUST THESE PEOPLE. THEY ARE CROOKS!!!!!!

HARLEM LOFTS is pretty good

Cooper Square milks all of the buildings of all cash and provides plenty to the board. They love getting into buildings that need major repairs (Local Law XX). The projects end up costing 3X what they are suppose to and the board members end up living like they received 1X of the overpayment.

They have been thrown out of many buldings. Actually surprised they haven't been indicted yet.

ab:
They won't be indicted in Brooklyn.
Hynes lives in a Bay Ridge co-op Building where they racked-up 32k in DOB fines during the course of one week.

NWT remembers the address.

Anyone have recommendations for micro walk-up buildings (< 10 units)?

My self-managed co-op runs fine when everything goes smoothly, but the wheels come off the bus in a major way when we encounter anything out of the ordinary -- e.g., a repair, a sale in the building, a notice from the city, etc. Repairs are our biggest issue. We don't even have a super -- just a guy who takes the garbage from the cans to the curb and a cleaning lady who vaccuums.

Given all of the walk-ups in Chelsea and the West Village, I'd think there must be companies who specialize in basic building management with a network of reliable repair people. Ideas?

cooper square changed their name. can they hide from their reputation (my remarks << >>):

value-added services: like implementing a 1000 application fee for rental/sales that has no basis in condo law, and consists of a background check?

----
Cooper Square Realty is now called FirstService Residential, but only the name - and this website - have changed.

You'll still enjoy the same personalized service <> from the local people who have always served your building, only now with even more shared best practices and value-added services.

New name. Same commitment. Stronger resources.

Welcome to FirstService Residential.

We look forward to telling you more inside."

I would expect that they will remove the first sentence very soon.

From our point of view as movers working mainly in Manhattan most of Cooper Sq (now called FirstService) are well maintained.
We see the guts of these buildings, areas that most tenants don't see like sub basements, service halls and so.
Think that now they would try harder to gain the lost trust of many people but they are on the right track!

lad, I'm in a slightly larger building but not by much. If you post an e-mail address, I'll give you some background on our situation (we were self-managed until a few years ago).

I’ve been working with XL Real Property Management and it is a pleasure! As an owner, I feel completely comfortable putting my trust into the management team. My questions and concerns are always addressed immediately and with genuine intention to do whatever possible in order to solve the problem – I warmly recommend them over any other management company!

..btw I’ve worked with Vision Group in the past and had the worst experience ever! That’s why I recommended working with XL Real Property Management. Good Luck!

First Service Residential never picked up the phone. It was very difficult to deal with them. I switched them after 2 months when I realized I could not get my apartment in NYC to be managed as I wanted it to be. I've been working with XL Real Property Management since then and have 0 complaints, they are doing a great job!

FirstService Residential is terrible. When there is a problem and you need them, they don't answer your phone call, don't read your email. Terrible!!! Stay away from them! I worked with them 2 months ago, so hard to get somebody to talk with. TERRIBLE!

NWT: Your comment re: Hynes' co-op building was deleted from this thread.
I described and you identified. Both were deleted.

This new streeteasy discussion listing actually makes it easier to "see" those deleted comments.
streeteasy is afraid of Hynes.

"BOO!!!", Zillow. The boogy-man will get you, if Hynes' address is posted (although it's
easy to google).

Wow, could not agree more about Jordan Cooper. They are my management company and have botched quite literally every transaction I've had with them - ones that have cost me thousands because they did not have a sublet package for my building when I needed it and thus I lost the renter while I waited a week for them to find it. They also billed me incorrectly for sublet fees for 2 years and were total asses when they realized it and sent me a huge bill without explanation or apology.

Awful. Jordan Cooper are awful.

Any updates in the last 18 months? We're currently using Matthew Adams... Thoughts on them? I think we love our manager, but don't have much to compare to. Any other ideas? Small (22 unit) building uptown.

MD Squared is great! They are extremely responsive and helpful. The two principals came from FirstService Residential so have the professionalism and technology of a large firm, but give us the responsiveness and attention of a small firm.

Having a terrible time getting move in deposit back from a coop I sold over a month ago. Management company is Akam. They do not answer emails or phone calls.