Residential Property Services
Recognizing the importance of property management as a critical ingredient to the long-term success of a property, Majestic emphasizes the need for quality management services. Professionals in the management area are responsible for tenant relations and overseeing on-site operations at both cooperative and rental apartment complexes. Majestic’s management team serves as intermediary amongst owners, tenants, boards, managing agents, and each of their respective counsels. Through property supervision of these essential ongoing relationships, in conjunction with providing a full range of services to cooperative and condominium boards as well as institutional owners of cooperative apartments and multifamily complexes, Majestic ensures that each property operates at maximum efficiency and obtains its highest possible return. Majestic’s experience within the greater New York Metropolitan area provides such boards and owners with localized and reliable management expertise. Majestic excels in large part due to its wide range of expertise and experience in offering complete and knowledgeable control of project management, leasing, tenant installations, operations, financing, maintenance, legal issues, accounting, and cooperative and board of director protocol and politics.
Cooperative and Condominium Conversions
Majestic serves as the original exclusive selling agent and sponsor’s representative for several cooperative and condominium conversions. Majestic’s local market expertise allows it to accurately assess a property’s target market and design marketing strategies which appeal to that group, including the development of promotional brochures and the designing of model apartments. The keen market awareness of Majestic’s conversion specialists and sophisticated selling agents has enabled Majestic to oversee the conversion of approximately 1,000 residential apartments to cooperative or condominium ownership.
Cooperative and Condominium Sales
Majestic also serves as the exclusive selling agent for banks, lending institutions, bulk cooperative and condominium unit owners, and individual apartment owners regarding apartment resales, individual foreclosed units (and packages of such units) in a number of cooperatives. Majestic uses its market expertise, and its sales and legal staff, to develop advertising layouts, target marketing media, recommend physical unit improvements, act as general contractor for unit and building wide improvements, negotiate and close sales, oversee settlement or litigation illegal and holdover occupancies, and mediate all cooperative paperwork relating to the unites. Moreover, Majestic is well versed at overseeing the trades, and interacting with the cooperative/condominium, regarding physical apartment improvements necessary to distinguish the unit from others on the market, command the greatest price for such unit, or to otherwise improve the overall marketability of the unit. With its extensive renovation and construction background in the apartment field, and its focus on selectively enhancing apartment values through the use of the most cost effective methods, Majestic is uniquely postured to maximize unit values for sales purposes at the most modest of costs.
General Contracting – Cooperatives, Condominiums
Majestic’s general contracting accomplishments include major renovations for a variety of condominium and cooperative corporations (such as roof garden installations, new lobby design and installations, elevator overhauls, and exterior repairs and window installations). In conjunction with its cooperative sales and leasing efforts, Majestic is also well versed at overseeing the trades, and interacting with the condominium/cooperatives, regarding physical interior apartment improvements as necessary to provide the best suited unit for a given market. In all cases, realizing that general shareholder and tenant service is paramount to maximizing the appearance, operations and value of dollars put into a project. Majestic focuses great attention not only on the specific physical contracting involved in a given project, but also consistently emphasized the development of a close working relationship with the owners and tenants on-site.