Property Management firm – Sold
Price: $1,100,000
Annual Revenue: $600,000
Net Cash Flow: $300,000
Industry: Services
Location: NYC, New York
The company has been sold; view our other real estate businesses for sale and contact us if you would like to sell your property management business.
A 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 real estate 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 is renowned for its expertise in all phases of coop/condo and rental building management. Its functions include collections, reporting/budgeting, maintenance/repairs, 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 the brokerage end of the business (sales and rentals), insurance, construction, and construction management as the quickest way to scale. High morale employees, a good web presence, an online payment platform, and a transparent owner will facilitate the transition for new owners.
Contact us to sell your property management business in New York and beyond.