27 EAST 62ND STREET

There were six words to describe 27 East 62nd Street when Cooper Square became its managing agent: location, location, location, inattention, inattention inattention. Located between Park and Madison Avenues, one of the prime areas in Manhattan, the building's previous owner had controlled the property on a 40-year net lease that had expired and little was invested to maintain the building.

Cooper Square organized a top-to-bottom project of installing new building systems, including a new elevator, new electrical wiring and plumbing, and renovated 15 of the apartments. Soon, maximum rents in the building tripled.

Service by employees was significantly upgraded, 24-hour coverage by a uniformed lobby attendant was provided and the intercom system replaced. A line-of-credit was obtained at an attractive rate to fund major capital improvements, and rents were increased. Within three years, Cooper Square had increased the value of the property five-fold. Today, the 27 East 62nd Street reflects the prestige of the address and along with location, location location, we hear quality, quality, quality.