Cooper Square

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.”

Consulting Services

Among the consulting services provided in the development phase are:

• Review and analysis of design plans focusing on building operations and service.
• Analysis of the security needs of the building, the placement of cameras, placement of lobby desks and access to the property.
• Analysis of amenities, both interior and exterior, for desirability and cost-effectiveness. The division looks at costs for maintenance, staffing and insurance to determine if the cost of the amenities would be recouped by the developer and analyses the impact on monthly common charges. We also create and analyze various scenarios to determine optimum, cost-effective staffing levels to meet the sales goals.
• Review and comment on the offering plan, and review and certification of the proposed operating budget to ensure it is realistic to prevent time-consuming and costly amendments to the plan.
• Analysis of income from commercial and residential uses, including developing various scenarios to abate common charges.

Pre-Opening Administration

Eight months before the scheduled opening of the property, the division begins its 240-Day Program.

This phase includes:

• Hiring and training the staff utilizing Cooper Square Realty’s unique Learning Center.
• Creating a comprehensive, customized resident manual with house rules, procedures, policies and regulations.
• Scheduling residential move-ins and deliveries.
• Testing all systems before the property opens.
• Setting up operations systems, ordering uniforms, establishing cleaning schedules, etc.
• Implementing CooperSquare Connect to increase building efficiency to improve communications.

Managing the Property

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.

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