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Property Management firm – Closed

Price: $1,100,000

Annual Revenue: $600,000

Net Cash Flow: $300,000

Industry: Services

Location: NYC, New York

This company has been sold. Outstanding opportunity to purchase well-established and reputable full-service residential property management firm in NYC. The company is held in high esteem by boards, residents and building owners alike and is a staple in the greater NY residential marketplace, having managed over 300 local buildings in its 37-year history.

It is ranked in the top 5 all-time among residential management firms, and renowned for its expertise in all phases of coop/condo and rental building management. Its functions include collections to reporting/budgeting to maintenance/repairs to dealing with complaints and communicating with board members and owners. Ownership’s commitment to providing each client unparalleled personal attention ensures the delivery of an intimate boutique agency feel in spite of the company’s size and stature.

Strong, qualified leadership fosters a spirited, team approach resulting in more favorable outcomes for building owners.  Leveraging a skilled back office to maximize clients’ financial returns, and in turn, customer satisfaction, the firm is often rewarded with preferential treatment on upcoming sales and rental opportunities. In fact, current owners identify further development of brokerage end of the business (sales and rentals), insurance, construction, and construction management as the quickest way to scale. High morale employees, good web presence, online payment platform, and the transparent owner will facilitate the transition for new owners.

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