Salon Realty Corp.
New York, NY 10128-5037
Founded in 1980, Salon Realty is a full service New York property management company with a diverse portfolio of properties throughout Manhattan and its surrounding boroughs. We provide management, brokerage and advisory services for individual investors, trusts, families/estates, co-ops/condominiums and institutional clients.
What began with the conversion of one small cooperative building has evolved into one of Manhattan's most respected fully integrated real estate firms. We service over 85 properties ranging from single tenant retail buildings to high rise luxury residential towers.
Salon Realty has the ability to provide a full range of management services across a variety of asset classes. We provide complete portfolio management with a continuous focus on operational and administrative responsibilities. We focus on maintaining and improving the properties structure and systems, and specialize in providing preventative maintenance services by taking a pro-active approach to management.
We employ sophisticated financial accounting software that provides comprehensive, customizable financial reports. Our state of the art bar code scanning system backs up your files multiple times daily, minimizing the possibility of data loss. Your building's financial information is in real time and available 24/7. A stringent internal system of checks and balances ensures accurate, honest and precise financial reporting, including monitoring and payment of all accounts payable, billing and collection of accounts receivable, cash management of operating and reserve funds, project budgeting, cost control monitoring and debt service assistance.
We work with our clients to develop a custom asset management plan that meets their specific investment criteria and produces quantifiable results. Whether you're seeking short term asset appreciation, stabilization of distressed assets, increased cash-flow or long term wealth accumulation, our experienced staff can help you achieve these goals.
The management services we provide include, but are not limited to:
- Monthly billing and rent collections
- Review and payment of bills
- Apartment rentals & commercial leasing
- Lease renewals, negotiations and escalations
- Supervision of building employees and daily building maintenance
- Providing detailed monthly financial reports
- Review and maintain all building files and information
- Initiating legal actions and appearing in landlord-tenant court
- Obtaining contractor bids and overseeing all renovations
- Monitoring tenant compliance with lease terms (primary residence, illegal tenants, illegal sublet..)
- Negotiate and obtain all building contracts (elevator, exterminator, boiler..)
- Prepare and update all reporting requirements with the appropriate government agencies
- Weekly building inspections
- Prepare monthly preventative maintenance report
- Violation dismissals
- Negotiate competitive prices and volume discounts with vendors
- Attend monthly and annual board meetings
- Co-op sales, subleasing agreements, alterations
- In business under this name: 37 years
- Company size: 10 to 20 employees (full time)
- We manage the following property types:
- Multi-Family (5-19 units)
- Multi-Family (20-99 units)
- Multi-Family (over 100 units)
- Office (10,000 - 125,000 sqft)
- Office (over 125,000 sqft)
- Retail (under 9,999 sqft)
- Retail (10,000 - 125,000 sqft)
- Retail (over 125,000 sqft)
- We manage properties in: