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
- 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
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.
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.
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.