245 Sullivan Street, Brooklyn, NY
Called Management took on a very troubled property at 245 Sullivan Street, Brooklyn, NY in January of 2013. The 40 unit, four story elevator building had 50% rate, collections were at 5% and over 1100 violations had been placed against the building.
With months of taking over management Called Management had completed the following:
- Worked with the owner to obtain an HPD 8A Rehab Loan
- Obtained a Water/Sewer payment agreement with NYC Department of Finance
- Raised the collection rate to 94%
- Renovated and rented five vacant apartments
- Established a maintenance plan
- Began the removal of HPD violations
- Supervised the General Contractor’s renovation of the pluming, and electrical systems
- Provided essential services and secured the property
- Completed over six years of registration with NYS and HPD including the annual registrations for the period 2008 to 2014; DEC and HPD Code Enforcement.
The owner who had been self-managing was able to sell the building for over $6M because of Called Management’s ability to stabilize the building and the completion of all required registrations.
59-61 Morningside Avenue/371 West 120th Street HDFC
Called Management took on a Tenant-owned cooperative in the midst of chaos. The HDFC was being managed internally by a cooperator. This process led to a number of issues that the HDFC was facing including establishing updating required municipal registrations, and fiscal records. Called Management was able to stabilize the management process; bringing current all city and state required registrations, and delivering accurate monthly rent statements and preparing financial records. We were also able to assist the HDFC in improving their heating plant, the security system and supervised the super to provide more efficient service to the residents.
The property consisted of three buildings with 30 units located in New York City.
Called Management LLC 