2900 Ocean Avenue Condo
REFERENDUM
TO: All Condo Owners of 2900 Ocean Avenue Condo
FROM: Acting Board of Managers of 2900 Ocean Avenue Condo
DATE: [Date, e.g. June 20, 2023]
RE: Referendum to approve new property management company
WHEREAS, the acting members of the 2900 Ocean Avenue Condo (“the Condo”) Board of Managers (the “Board of Managers”) have determined that the current property management company “Dependable Property Management” is not performing satisfactorily, and
WHEREAS, acting Board member Michael Novakhov has spoken with and been in touch with Brownstone Property Group (“Brownstone”), a Brooklyn Property Management company with 19+ years experience managing Brooklyn Condominiums, and
WHEREAS Mr. Novakhov and certain other acting members of the Board of Managers believe that Brownstone will provide a high-quality level of service, in keeping with the Condo’s requirements, and
WHEREAS this Referendum is in accord with all relevant provisions of the Condo’s Bylaws and related rules and laws;
THEREFORE, this Referendum is to gather Condo Owner comments as to whether the acting Board of Managers ought to agree to hire Brownstone as new condo manager, effective on [date].
DO YOU APPROVE THE SELECTION OF THE BROWNSTONE PROPERTY GROUP AS THE PROPERTY MANAGEMENT COMPANY FOR THE 2900 OCEAN AVENUE CONDOMINIUM, OF BROOKLYN NY 11235?
Please submit your answer by circling it:
YES or NO
Your Signature or Initials as the confirmation of your answer:
Submit a note if you have any other comments.
Send you filled out REFERENDUM Form via postal mail to:
Michael Novakhov, 2900 Ocean Avenue, Apartment 5E, Brooklyn, NY 11235. Use the enclosed stamped self-addressed envelope.
Please indicate your name and apartment number:
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M.N. – My Comments to this draft:
- We do not have the Referendum date yet, it will be determined later.
- I think, ONE UNIT – ONE VOTE would be a fair arrangement. Comment on it.
- We can use the extended Referendum, permitting the collection of responses during 2 or 3 months, which will allow counting the highest possible number of responses.
- QUOTE from Brownstone:
“Our offer is $50/unit per month; existing management is $30/unit per month.” – Mr. Joshua Blackman.
Brownstone charges $50 per unit per month, the “Dependable” charges $30 per unit per month.
For just $20 a month more you will get a much superior service!
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Mr. Joshua Blackman had kindly provided to us this description of his Company’s services:
“Hi Mike;
Thank you for the opportunity to care for your property.
The Financial Statement you kindly provided indicates your condo paid, in 2022, $31,680 for management, and $56,106 for “payroll” which I’m assuming is for a live-in super? As you’ve indicated, management has been inadquate, which is in part, a reflection of the below-market fees you’ve been paying. We will provide your condo with very high-quality service.
Brownstone Property Group offers two primary areas of service, as follow:
- (1) 24/7 Management is a full-service option that includes Financial Services and Compliance Services.
- We provide a dedicated, experienced property manager, a comprehensive Compliance service, our office team’s availability during office hours, and our professional field crews’ availability round-the-clock.
- On emergency, we’ll be there asap; non-emergencies as required.
- Monthly fee includes visiting the property as required, scheduling and coordination of work, and supervision of workers and vendors. Cost of repairs is in addition to the monthly fee.
- Project Management fees are applicable when supervision and coordination are required for larger jobs.
- Full-service management includes the monthly collection of common charges, bill payment, budgeting, and monthly reporting.
- Our fee for 24/7 Management for an 88-unit Condo is $4,400 per month.
- (2) Sanitation – includes garbage/recycling to the curb twice per week, cleaning interior common areas and outside the property as agreed, and ice/snow removal; Fees omitted as we’re assuming your live-in super handles this work.
Monthly fees are paid quarterly, based on annual contracts.
We are a licensed insurance and real estate broker, and can help you place any type of insurance, plus find excellent tenants and buyers for your apartments.
- We are NYC Department of Buildings-licensed General Contractors, and feature an insured renovation team, a broad network of local tradespeople, as well as familiarity with navigating city agencies, acquiring competitive insurance quotes, and handling the full range of issues related to property ownership in New York City.”
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With regard to Super services, it will be a gradual transition, according to Mr. Blackman:
“BrownstoneWorks offers off-site Super and backup for on-site Super. This service may be effective until we hire for you a new full-time Super (assuming this is what the Condo needs).”
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Further details and clarifications will follow. Feel free to ask questions.
In the next few days I will prepare a report on comparison quotes from the Brownstone and three other leading, best property management companies in Brooklyn. This will give you a fuller, more comprehensive picture.
My thinking is that it is not the absolute money figures (fees) that matter that much, but the whole picture, including the company’s reputation, positive attitude, and the types and range of the services provided.
In my opinion, the Brownstone is the first and the best choice for us, regardless of the quotes comparison, which we will do anyway as the part of the DUE DILIGENCE research.
Please, read this referendum draft carefully and share your comments and opinions on this matter with your fellow unit owners via the Comments section of this post below, if you so wish. Thank you.
Quotes Comparison Information
- From AWAYER REALTY, by Kyle Gregory: $40-50 per unit per month
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Michael Novakhov | 5:20 AM 6/16/2023 – Post Link