The Spandrel Group Development | Management

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Property & Asset Management

As a property/asset manager, the Spandrel Group partners with real estate owners and investors, as well as condominium and cooperative boards, to develop customized programs that offer the highest levels of service while also streamlining operations and improving cash flows. By virtue of our organizational structure, we offer a big-picture approach that leverages our substantial industry contacts to provide comprehensive attention across all categories, including architectural, legal, engineering and construction management, as well as general property management functions. We have experience managing all types of properties, including residential (condominiums and rentals), commercial, mixed-use and hospitality.

Property & Asset Management

Property Management

Delivering a level of personalized service above expectations working as partners to implement strategies focused on optimal cash flow and maintenance programs. Our premise is simple: Manage the property as if it were our own. Whether Condominium, Cooperative, or Retail Location The Spandrel Groups trained management team will take a proactive role in the relationship ensuring you are not just an address but a member of our group.

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Property Management

Asset Management

The Spandrel Group serves as a valuable partner to lenders corporate, or institutional clients searching for a management company aligned with and understanding of their financial and operational goals.

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Team Bios

  • Ian Levine

    Ian Levine Founding Principal

    Ian Levine is co-founder of Spandrel Development Partners. Prior to forming SDP Ian spent 16 years with RAL Companies and Affilates, LLC as Chief Financial Officer and Chief Operating Officer as well as CEO and President of The Spandrel Group, LLC RAL’s affiliated property management and brokerage firm.

    At R.A.L. Companies & Affiliates, LLC , a developer of luxury apartment, condominium and resort communities nationwide, Ian provided operational and financial oversight of multiple mid- and large-scale projects valued in excess of $800 million which have included such projects as Tower 270 Condominium in Tribeca, New York, The Franklin Tower in Tribeca, New York, Loft 25 Condominium in Chelsea, New York, One Brooklyn Bridge Park Condominium in Brooklyn, New York, The New Yorker Condominium, New York, New York as well as The Inn at Lost Creek in Telluride Colorado.

    Prior to R.A.L., Ian was a real estate representative for Jeepers! Inc., a Massachusetts-based national owner and operator of indoor animated theme parks and restaurants, where he focused on new site acquisitions, zoning, lease administration and other related matters. At Jeepers!, Inc. Ian also instituted a specialized system incorporating target mapping, trade area analysis, customer profiling and demographic variables on sales analysis to assist in the site selection process. Previously, Ian was Project Coordinator at a large northeastern fabricator and installer of commercial custom interior décor and design and in charge of all bidding and site mangement. He also served as assistant to the director of field operations at Maintenance Management.

    A licensed real estate broker in New York, Connecticut, Massachusetts, Pennsylvania, and Colorado, Ian is an active member of the International Council of Shopping Centers, the New York Association of Realty Managers, the Real Estate Board of New York and the Institute of Real Estate Management. Ian received a Bachelor of Science degree in business administration from Babson College.

  • Ken Gelman Finance Compliance Officer

    ken_gelman

    With more than 35 years of accounting experience, Ken Gelman is responsible for accounting and operational oversight within each of the Spandrel Group’s operating divisions.

    Prior to joining the Spandrel Group in 2004, Ken was Vice President at the Great Atlantic & Pacific Tea Co., where he was in charge of equipment purchasing and maintenance. At Victory Supermarkets, a 20-store grocery chain in the Northeast, Ken’s oversight included maintenance at all company stores and facilities as well as programs such as the lottery; Women, Infants and Children (WIC) and food-stamp licensing.

    Ken began his career at Waldbaum’s Supermarkets in Long Island, NY,  serving as Director of Accounting Administration. Following the sale of the brand to the Great Atlantic & Pacific Tea Co., Ken was retained to oversee the conversion of the information and accounting records before being named Director of Facilities.

    Ken holds a Bachelor’s degree from Fairleigh Dickinson University. A licensed instrument private pilot, Ken served in the New Jersey National Guard, receiving an honorable discharge with the rank of staff sergeant.

Spandrel Advantage

The Spandrel Group provides an unparalleled lifestyle experience that extends beyond the traditional property management realm. With Spandrel Advantage, owners and renters living at Spandrel-managed buildings in New York and New Jersey enjoy access to exclusive discounts and special offers from local retailers. Spandrel Advantage’s growing list of participating providers includes custom closet and cabinet designers, florists, auto mechanics, garages and audio-visual specialists, among others.

Current Advantages

Press

    • Latest Development at Levine’s Spandrel Group May. 22. 2013 Read More
    • Spandrel Launches Development Division May. 14. 2013 Read More
    • Spandrel Group Launches Investment and Development Affiliate, Spandrel Development Partners May. 13. 2013 Read More
    • Spandrel Property Services Contracted To Manage The Monarch Condominium Master Homeowner Association Sep. 12. 2012 Read More
    • Spandrel Property Services Tapped to Manage 835 Avenue of the Americas Aug. 14. 2012 Read More
    • The Spandrel Group, LLC opens new office in Larchmont, New York May. 14. 2012 Read More
    • Growing Up In Real Estate-Mann Report Residential May. 01. 2011 Read More
    • Park life gets a boost as two new retailers arrive Apr. 27. 2011 Read More
    • Brooklyn Bridge Park Gets First Retail: Doggy Spa and Wine Store Apr. 25. 2011 Read More
    • One Brooklyn Bridge Park Adds Second Eco-Friendly Amenity-Brooklyn Condos Apr. 19. 2011 Read More
    • Spandrel Property Services Contracted to Manage Remaining Sponsor Units at Carriage City Dec. 06. 2010 Read More
    • Spandrel Property Services Welcomes New Executive Property Manager Vincent Adovasio Oct. 29. 2010 Read More
    • SPANDREL PROPERTY SERVICES PARTNERS WITH PAYLEASE Oct. 05. 2010 Read More
    • New York Real Estate Journal Executive of the Month September 2010 Sep. 01. 2010 Read More
    • New YorkReal Estate Executive Ian Levine Forms The Spandrel Group; Launches Two New Real Estate Ventures Aug. 08. 2010 Read More
    • Firm to Manage Retail Portfolio Aug. 10. 2009 Read More
    • New York Real Estate Executive Ian Levine forms strategic Alliance with Stribling & Associates Jun. 01. 2009 Read More
    • Spandrel Property Services Contracted to Manage Office Property on Long Island Jun. 01. 2009 Read More
    • Spandrel Property Services Contracted to Manage Office Condominium Property Mar. 01. 2009 Read More
    • Real Estate New York 2009 40 under 40 Mar. 01. 2009 Read More
    • RE Executive Levine launches The Spandrel Group Sep. 03. 2008 Read More
    • Opportunities abound for startups in current market Aug. 28. 2008 Read More
    • The Mann Report Commercial Corner May 2008 May. 01. 2008 Read More

Contact

434 BROADWAY, 5TH FL

NEW YORK, NY 10013

 

646.747.2200

 

info@spandrelgroup.com

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Close Advantages CURRENT ADVANTAGES

Spandrel Advantage Program

  • The Motor Network
    an independent auto-sales and leasing company based in Oceanside, Long Island that offers turnkey and repair services. The business is offering free consultations as well as pick-up and drop-off of new vehicles.
  • Huntington Closet & Cabinet
    a custom closet and cabinetry design, fabrication and installation company, is offering 10 percent off any of its services.
  • Starbright Florist and Floral Design NYC
    a premier full-service florist, is offering a discount of 10 percent or $10, whichever is greater, on any order placed online, over the phone or by email.
  • QuikPark Garages
    a leading parking garage company throughout the New York metro area, is offering a 10 percent discount at any of its garages.
  • Sage A/V
    a turnkey audio-visual and automation company, is offering a custom option for Spandrel residents that includes basic TV wall-mounting packages starting at $650, 15 percent off all Lutron motorized shades and Lutron lighting control systems, a free iPad with purchase of a complete distributed audio or home automation system, and labor rates discounted to $100 from $125 an hour.

 

 

 
Vendors and Service providers are subject to change. All discounts at discretion of service Provider. Offering of discounts is in no way an endorsement or referral of services. The Spandrel Group, LLC and/or its affiliates makes no warranty or guaranty of any service.

Close Management Property Asset

Property Management Mission

Our trained professionals take a proactive approach to implement proven, time-tested standard operating procedures so that all aspects of your property are managed with care and professionalism by our highly trained team. Whether a condominium or cooperative, retail location or office building, our staff will work with you to implement a customized solution to attain your goals.

The Spandrel Group also provides valuable support to developers at each phase of development, from planning to first move-in, and works closely with their partners, such as architects, engineers, attorneys and sales and marketing teams. We understand industry best practices, as well as the complex design, operational and legal challenges faced by developing properties, so we can provide sound advice to developers to ensure their planned community’s long-term financial stability.

Property Management Services

We offer a full array of services to make certain that properties are properly maintained and fiscally sound within a goal driven system. Service offerings include the following:

  • Financial Management & Reporting
  • Collections and Enforcement of Condominium Fees
  • Deposits
  • Disbursements
  • Books and Records Management
  • Insurance Procurement Assistance
  • Record Maintenance
  • Condominium Meetings
  • Notices and Mailings
  • Employee Hiring and Training
  • Equipment Management
  • Attendance at Board Meetings
  • Comprehensive Written Management Reports
  • Implementation of Board Policy
  • Enforcement of Co-Op and Condominium Bylaws
  • Coordination of Staff, Sub-Contractors and Vendors
  • Assistance with Vendor RFPs, Service Contracts and Job Specifications
  • Regular Property Inspections
  • Budget Preparation
  • Financial Reporting
  • Building Newsletters and Resident Surveys
  • Committee Coordination
  • Emergency Planning

 

Case Studies

  • One Brooklyn Bridge Park, Brooklyn, N.Y.

    Developed by RAL Companies & Affiliates, One Brooklyn Bridge Park, located at 360 Furman Street in the heart of Brooklyn Heights, is a 1,000,000 sq. ft. mixed-use development that includes 438 residences, 70,000 sq. ft. of retail space and 100,000 sq. ft. of attended parking. Amenities include a state-of-the-art gym, screening room, children’s playroom, music-and-art room and shuttle services. The building also provides easy access to Brooklyn Bridge Park, an 85-acre recreational esplanade. case1

    For this massive 14-story development, the Spandrel Group developed a property management program that would ensure responsive and first-rate customer service while also effectively adapting to the changing needs of the building.

    In 2008, shortly after One Brooklyn Bridge Park obtained a certificate of occupancy, the Spandrel Group began managing operations at the property. At the time, occupancy was less than 20 percent.

    From the very beginning, the Spandrel Group made certain that residents were properly serviced, managing everything from the vast amenities program to inspections to staffing. Working with union officials from Local 32BJ, the Spandrel Group negotiated a union contract that would allow for the number of employees to increase in conjunction with rising occupancy rates. Today, One Brooklyn Bridge Park employs a staff of 23, up from roughly a dozen five years ago.

    Always responsive to the needs of residents, Spandrel regularly works with the board to make requested updates or changes, whether altering amenities offerings, redoing wallpaper or enhancing resident services.

    Maintaining a stable cash flow is also a top priority. In its first five years, One Brooklyn Bridge Park has maintained an operating surplus, a fact that proved essential in the aftermath of Hurricane Sandy. With a ready availability of resources, the Spandrel Group was able to get the building online only 14 days after the disaster as well as implement a future flood mitigation plan and improvement program without causing any additional financial burden to homeowners.

  • Brookchester Court

    case2

    An affordable luxury community of 39 units in Port Chester, N.Y., The Spandrel Group was hired as a property manager for what was originally designed as a rental community.  After ownership opted to sell the units as condominiums, the Spandrel Group quickly changed gears and assisted with sales, bringing in brokers to show the units and hiring on-site staff. Additionally, among other activities, Spandrel obtained insurance and provided a general program for the development, monitoring and maintenance of the building and parking lot.

    With an operating plan in place, the market shifted yet again and Brookchester reverted back to a rental property. Adapting to another transition, Spandrel managed the application process for prospective tenants, reviewed applications and issued new leases and renewals. In four years, the Spandrel Group successfully managed Brookchester through three distinct courses.

Asset Management Mission

The Spandrel Group’s asset management team is focused on maximizing the value of each investment. Working closely with their clients, our professionals ensure each asset is operating in accordance with its annual business plan. The Spandrel Group’s hands-on approach strives for high-level asset performance relative to the marketplace and submarket, effectively realizing the full potential of each investment. Overseeing ongoing construction, developing a repositioning strategy, setting up new marketing programs, overseeing third party consultants, and/or positively maximizing cash flow are just a few of our services.

The Spandrel Group also provides valuable support to developers at each phase of development, from planning to first move-in, and work closely with their partners, such as architects, engineers, attorneys and sales and marketing teams. We understand industry best practices, as well as the complex design, operational and legal challenges faced by developing properties, so we can provide sound advice to developers to ensure their planned community’s long-term financial stability.

Asset Management Services

Our asset management service offerings include the following:

  • Liaison Services between Client and Potential Pre- Ownership Sales
  • Repositioning Services
  • Construction and Renovation Consulting
  • Brokerage Services
  • Maintenance
  • Collections and Enforcement of Condominium Fees
  • Books and Records Management
  • Insurance Program Procurement Assistance
  • Record Maintenance
  • Owner Meetings
  • Notice and Mailings
  • Employee Hiring and Training
  • Equipment Management
  • Financial Management & Reporting
  • Attendance at Board Meetings
  • Comprehensive Written Management Reports
  • Implementation of Board Policy
  • Coordination of Staff, Sub-Contractors and Vendors
  • Assistance with Vendor RFPs, Service Contracts and Job Specifications
  • Regular Property Inspections
  • Budget Preparation
  • Emergency Planning
  • Third Party Consultant Management and Solicitation

Consulting:

Spandrel Property Services, Inc provides numerous consulting services for real estate professionals, developers, as well as first time entrants into the real estate field.

  • Acquisition & Budget Analysis
  • Financing Package Preparation
  • Construction Finance Requisition Preparation & Monitoring
  • Owner Representation

For more information on our consulting services please go to our contact page.

Case Studies

  • Skyview at Carriage City in Rahway, N.J.

    A 17-story building with 220 condos, a four-floor hotel component and retail case3

    With the Lender now in possession of the property, the Spandrel Group was hired to reposition Skyview at Carriage City in Rahway, N.J., as the premiere, local rental building. At the time, public perception of the project was largely negative due to its foreclosure status and a general consensus that the property was being poorly managed.

    The Spandrel Group instituted a comprehensive marketing program, which included staffing a leasing office, staging units, purchasing missing appliances and light fixtures, and hiring and training staff including a resident manager, handymen and a concierge.

    In conjunction with its focus on filling empty units, the Spandrel Group also managed the property on behalf of the 60 owner-occupied units, successfully opening up an array of building amenities, including a roof deck.

    Within the first year of Spandrel’s stewardship in partnership with the Ownership Institution, Skyview at Carriage City is considered a leader in Rahway’s luxury market, with roughly 90 percent occupancy and rents steadily on the rise.

  • Canyon Ranch

    Miami Beach-based development encompassing two condominium towers and one hotel-condo tower case4

    Hired by LAMCO, the Spandrel Group was retained to resolve a multitude of operational deficiencies and streamline costs at Canyon Ranch.

    At the outset, the Spandrel Group sought to improve operating efficiencies at the three buildings, which were previously managed by separate homeowners associations. Spandrel consolidated oversight and management and then focused on improving cost allocations, operating efficiencies and services.

    In response to a multitude of complaints, Spandrel conducted a select homeowners survey to identify problem areas. Based on survey results, Spandrel incorporated building amenities and services into a shared facilities budget. Homeowners also received detailed quotes and recommendations for enhanced services such as grocery delivery, babysitting and dry cleaning.

    On the staffing front, the Spandrel Group introduced and trained a new property manager and negotiated reasonable salaries and agreements for on-site staff and servicers, lowering costs on existing contracts in the process.

    Spandrel Group succeeded in saving Canyon Ranch and its homeowners hundreds of thousands of dollars in operational expenses over previous years.

  • East End Centre

    A 300,000-square-foot shopping center in Wilkes-Barre, PA eastcenterbuilding

    Retained by Lehman Brothers, the Spandrel Group was tasked with implementing a turnaround strategy for East End Centre, which had recently lost its anchor tenants in the wake of the collapse of several nationwide big-box retailers.

    The Spandrel Group sought to improve the shopping center’s dilapidated exterior, making arrangements for landscaping and setting up a maintenance and on-site management program. The Spandrel Group also negotiated to keep existing tenants whose leases were about to expire, successfully stabilizing cash flow and maintaining maximum occupancy. When it came to attracting new tenants, Spandrel targeted discount retailers in an effort to reposition the shopping center as a leading value center.