The group works with developers on new residential buildings and conversions
Cooper Square Realty is the only New York property management company with a division dedicated to working with the developers on new residential buildings and conversions. Headed by Vice President Marc Kotler, the group provides consulting services during the planning phases, prepares the property for opening and then becomes the property manager.
Using the extensive resources and capabilities of Cooper Square Realty, the division, with a staff of 23, including eight experienced property managers, has opened more that 16 buildings with 6,000 units since it was formed in 2004.
“What we do it not typical,” Kotler says. “We get involved during the design phase of a new project and advise the development team on many phases. We also work with the attorneys preparing filings for the Attorney General’s Office. It is specialized work that brings a level of hands-on knowledge and expertise to the development team from people who know how to make a property operate efficiently and cost-effectively.”
Among the consulting services provided in the development phase are:
Eight months before the scheduled opening of the property, the division begins its 240-Day Program.
This phase includes:
When the building opens, we manage the property and assist in the organization of the initial board. Our knowledge of the building’s operations, systems and procedures is invaluable at this stage. We stress maintaining a positive relationship and smooth communications between the developer/sponsor and residents. Our goal is the effective functioning of the property and the eventual transition of the board to one comprised of unit-owners or shareholders.