Residential Property Management
Over 30 Years of Success.
Managing over 7,000 units
Supervising Hundreds of Union Employees and Office Staff
Balancing $80 Million in Budgets Annually
Our core strengths include hands on management, creative solutions to new challenges and prudent financial administration. What sets us well apart from others in the industry is our extensive rehabilitation and capital improvement work. Summit has invested thousands of hours on resourceful and innovative solutions, including participating in public-private partnerships and navigating access to government subsidies.
Regardless of size or sector, we provide the same rigorous level of focus and dedication. Our approach is extremely dynamic as our days are spent on-site, walking the buildings and focusing on the details that define the long-term viability of our developments. We enhance the standard of living and sense of community for our clients and are innovative in our approach to identifying revenue opportunities for the properties we manage.
Our strengths and experience cross all sectors including affordable, market rate and mixed use. Given our ownership mentality, our experience and systems meet expectations across all markets and communities. We have a wealth of experience administering properties financed under Sections 8, 202 and 236, Mitchell Lama, Low Income Housing Tax Credit programs, State aided condominiums and SIP site programs. Accordingly, our systems involve monitoring and ensuring compliance with the United States Department of Housing & Urban Development (“HUD”), New York State Homes and Community Renewal (“HCR”) and New York City Housing Preservation and Development (“HPD”) regulations.
Masters of Budget Management
Financial stability is the cornerstone to running a successful housing company. It is critical to have workable methods in place to generate income and manage the budget. No element of the financial picture is insignificant and our detailed process is integral to maximizing income while controlling expenses.
Execution is Key
As most of our capital improvements take place in occupied buildings, we exercise great prudence when carrying them out both in limiting disruption to the residents and in mitigating costs to the housing companies.
Recent accomplishments include:
Rebuilding a power plant in Queens while continuing to supply utilities to $20,000 residents with no back-up power from Con Edison
Securing $631 Million Loan for a community in the Bronx at 2.4% interest for 35 years
Renovating Manhattan Recreational Center (vacant for over 20 years) including a pool, indoor basketball court and tennis courts at no cost to residents
Transitioning a community in Brooklyn back under HCR Supervision including the adherence of all HCR procedures
Summit also manages over 100 stores in multiple locations
In addition to our highly regarded residential property management business, Summit has built a long track record of success owning and managing commercial properties. We have a footprint throughout the country with a concentration in the Northeast and Tri-State Area. Our portfolio includes retail stores, open air shopping centers, retail complexes, fitness developments, restaurants, commercial offices and parking facilities...