Success Stories

Vacant Professional Unit:
We recently secured a long term tenant for a ground floor professional unit that was vacant for an extended period of time. In addition to securing the tenant, we performed detailed credit checks, criminal background checks and related searches to insure the cooperative received a quality tenant. We are in the process of converting the office into a cooperative unit that the Board plans to sell for $175,000.00.
 
Rooftop Income:
We recently secured a long term agreement with a wireless firm to install repeaters on the building roof. The agreement provides for over $500,000.00 of "free money" to the building over the term. The wireless firm paid for all installation, permit, & related costs. They also reimbursed the building for the independent RF testing lab that I hired to insured the devices posed no harm to the residents or our neighbors.
 
Laundry Room:
We prepared a detailed plan to have a building go into the laundry business instead of hiring an outside firm. We obtained bids for the machines, carts, and related equipment, its installation, and a monthly service contract. We supervised the painting and re-lighting of the room. The building elected to purchase a "no coin" system where each shareholder received a card (similar to a Metrocard) that records the number of cycles used by each apartment. The Board soon realized the numerous advantages including:

•  Increased convenience as residents did not need coins to wash.
•  Eliminated machine use by non building residents as a card is required.
•  The building kept 100% of the revenue and had machine payback within 2 ½ years.
•  Residents appreciated having the laundry charge appear on the monthly bill.  

Resident Storage:
We submitted a detailed plan to turn a "junk room" into resident storage. We obtained bids for the storage units, electrical work, debris haul away, and related work. We created 105 storage units that generated over $30,000.00 per year in income. Residents greatly appreciated having the clean and secure space in the basement. We even installed a 15 unit bicycle rack as well.