Apartment Firms Cut Discretionary Technology Spend, But Boost Outsourcing Dollars, Survey Finds

Washingon, D.C.—Apartment firms have changed their IT spending habits in recent years, cutting spending on discretionary information technology (IT) projects, according to a just-released survey from the National Multi-Housing Council. The report, an update of a similar survey done in 2008, examines three aspects of IT spending: IT outsourcing (contracting with an outside firm to handle IT or a particular IT task); IT consultant spending (hiring an outside IT professional rather than using staffers); and discretionary spending on revenue- increasing IT investments, such as document management systems and lead tracking/lead management systems. The survey found that spending on discretionary projects…

Threat of A Doormen Strike Threatens Looms Over New York’s Apartment Owners

There is a chance that at midnight tomorrow, thousands of doormen, concierges and handymen working in New York’s buildings could go on strike.

INVESTMENT: Eastern Consolidates Tapped to Exclusively Market Coop Buildings at Asking Price of $7.65M

A portfolio of 43 occupied cooperative apartments, 34 of which are located at the Towers at Water’s Edge luxury co-op community in Bayside, Queens, N.Y.; six in two elevator buildings in Jackson Heights and Forest Hills, N.Y.; and three in Manhattan’s historic Gramercy Park neighborhood, is on the market for sale at an asking price of $7.65 million.

Marc D. Schnitzer CEO and President of Centerline Resigns to Join Island Capital Group

Marc D. Schnitzer, CEO and president of Centerline will resign from all his roles at the company to join an affiliate of Island Capital Group LLC.

Manhattan Multifamily Sales Volume Spikes in 1Q10

he dollar sales volume of multifamily properties in Manhattan more than doubled in the first quarter

Collections Firms Report Higher Collection Rate among Apartment Renters who use SureDeposit

Residents who enroll in the SureDeposit program are more likely to pay their lease-related debts in so

DEAL OF THE DAY: Walker & Dunlop Closes 73% LTV Freddie Mac Mortgage in Less than 40 Days

Walker & Dunlop provided a $28,547,000 refinance loan for Tenby Chase Apartments located in Delran, N. J.

MBA Appoints Gail Cardwell SVP of Commercial/Multifamily

Gail Cardwell has been appointed senior vice president of Commercial/Multifamily of The Mortgage Bankers Association (MBA).