Value Companies has added a five-story boutique rental building in Elizabeth, NJ to the burgeoning roster of apartment communities in its Value Asset Management (VAM) Division, according to Jack Linefsky, Vice President of Property Management for the Clifton, NJ-based real estate company.
VAM, which provides management capabilities and customized asset solutions to third-party real estate investment and property owner clients, has been retained to oversee the leasing, operations and marketing of the 40-unit property located at 737 North Broad Street, minutes from the New Jersey Transit Train Station in downtown Elizabeth.
The building features one- and two-bedroom apartments with over 800 square-feet of living space and a long list of modern features and appointments, including stainless steel appliances, granite countertops, and ceramic floors. 737 North Broad Street was completed in 2017 and recently acquired by its current owner – a private real estate investor.
“737 North Broad Street is the second assignment we’ve received from the owner in the past five months, following in the footsteps of Bridgewater Square, a 100-unit rental in Somerset County,” Mr. Linefsky says. “In this case, they turned to VAM for our experience and expertise managing operations for mid-sized and boutique apartments buildings in prominent urban locations. We’re excited to add 737 North Broad Street to our portfolio.”
VAM brings the extensive experience of managing a portfolio of more than 3,000 apartment homes across all rental product types and sizes. Headed by CEO and President Andrew Abramson, Value Companies has an outstanding background in property management for more than six decades; and its proven experience and passion for excellence have established the company as one of the northeast’s leading real estate developers, owners and managers.
Value Asset Management offers a “hands on” approach, staffing communities with the kind of multifamily professionals, leasing agents and maintenance personnel that have been instrumental in crafting Value’s sterling reputation for customer service and management efficiency.
As its corporate name suggests, Value Asset Management also, but not exclusively, specializes in value-add multifamily investments; properties where there are opportunities to redevelop, reposition, or generally improve the fixed assets, curb appeal, resident relations, maintenance operations and other programs that make improving real estate an exercise in community building and value creation such as Dorchester Manor in New Milford and Ridge Park Apartments in North Arlington.
Another added bonus is Value’s unique skill set that comes from developing, owning and managing a variety of properties, including large-scale suburban and urban sites and low-and mid-rise buildings.
For more information on Value Companies’ third party property management services, please contact the company headquarters at 973-473-2800 or visit www.valuecompanies.com.
About Value Companies
Value Companies, founded in 1952, is a leading real estate development, investment and management company. Across its development division, Value Companies has embarked in new apartment developments and investments in strategic suburban and urban locations throughout the country. Value’s development success is directly tied to its steadfast commitment and expertise in multifamily housing, and its ability to introduce new housing products that address consumer and community needs.
Value’s residential properties are built and managed by a highly-skilled, in-house management team of more than 80 industry professionals which oversee all aspects of Value’s communities, including construction, leasing, maintenance, property management and administration. Value’s third-party management business, Value Asset Management (VAM), provides full-service management capabilities and customized asset solutions to a growing list of third-party real estate investment and property owner clients. Value Companies also received numerous industry awards for its various properties as well as being a 4-time recipient of the New Jersey Apartment Association Management Company of the Year award.