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Unless you live in a self-managed co-op or condo, your building's managing agent serves as the board's
eyes and ears while the board members are away at their 9:00 to 5:00 jobs. The managing agent interfaces
with the super and other maintenance staff and acts as the board's liaison with the vendors and professionals
who serve the building. There's no question that the work performed by the managing agent is daunting,
but it often goes unrewarded. This is why every year since 1994, The Cooperator has recognized the highest
achievers in the competitive property management field.
On March 25, at The Cooperator's 12th Co-op & Condo Expo, Insignia Residential Group, Mark Greenberg
Real Estate and Precision Property Management joined the list of excellent property managers who have
been awarded The Cooperator's Leadership in Management Award. These firms have not only proven that their
clients can count on them to get the job done, but also that they are ready, willing and able to go beyond
the call of duty for the co-op and condo buildings they watch over.
Mark Greenberg Real Estate
The Cooperator has selected Port Washington-based Mark Greenberg Real Estate (MGRE) to receive the 1999
Leadership in Management Award for the outstanding financial turnaround orchestrated by James Goldstick,
MGRE's vice president, at a 929-unit co-op in Kew Garden Hills, Queens. Goldstick became managing agent
of Georgetown Mews in October 1995. At that time the co-op had over $1.5 million in unpaid bills and
was subject to litigation from unpaid vendors. The reserve fund was dangerously low and the co-op's files
were extremely disorganized.
Since arriving on the scene three years ago, Goldstick has made many procedural improvements; discovered
in excess of $200,000 of SCRIE credits that had never been claimed from the city and obtained $70,000
of credits for retroactive water
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charges related to low flush toilets installed by the previous management firm. Before Goldstick and
MGRE stepped in, Georgetown Mews had an uncertain financial future. Today the co-op has a growing reserve
fund that is expected to exceed $750,000 by June 1999. And, best of all, shareholders have not been hit
with a maintenance increase or assessment.
If Pearl Margolis, board president of Georgetown Mews and a resident for 34 years, was handing out
grades, she'd give MGRE an A plus. "Before they took over, this place needed loads of work and we didn't
have the funds to get anything done," says Margolis. "Now we anticipate that our reserve fund will have
$1 million by July, and this has been accomplished without raising the maintenance."
According to Margolis, everything has been going wonderfully since the co-op brought
MGRE on board. "It's just like working with your family. That's how concerned they are about Georgetown
Mews. They give every moment of their time that they could. We never have to ask for something twice;
it's always done immediately. They're wonderful people. We've worked with other management firms," Margolis
adds, "that were not as concerned with our finances."
Ms. Mosher is Managing Editor of The Cooperator.
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