Argo Expands Manhattan Co-op Management Portfolio
- Feb 29, 2012
New York—Argo Real Estate, a specialist in New York-area real estate, has been selected as property manager for three residential co-op properties in Manhattan: 45 West 10th Street, 49 West 12th Street and 317 West 87th Street. The contracts add to the company’s management portfolio of about 8,200 condo and co-op units, a total Argo says it’s actively seeking to grow.
These are tight times for co-op boards, and management has to be as efficient as possible, says Emanuel Edwards, director of management with Argo. Besides a thorough knowledge of building systems, 21st-century co-op managers worth their salt need to provide customized financial reports, competitive insurance premiums and quality control in purchasing.
The largest of the co-ops new to Argo is 45 West 10th Street, a 90-unit post-war co-op building in Greenwich Village, located between Fifth and Sixth Avenues. Built in the 1960s, the property features a 24-hour doorman, storage and laundry facilities and a live-in super.
Located between Fifth and Sixth Avenues, 49 West 12th Street is a 75-unit post-war co-op building, also in Greenwich Village. Built in the 1950s, the property has amenities similar to 45 West 10th Street: a 24-hour doorman, storage and laundry facilities, and live-in super, plus a roof deck as well.
On the Upper West Side, Argo will be managing 317 West 87th Street, a pre-war co-op between West End Avenue and Riverside Drive. Built in the 1930s, the property has 47 units and features laundry facilities and a live-in super.
Besides the units it manages, Argo owns 5,500 residential units in New York and New Jersey. The company also converts buildings, and has transitioned numerous New York-area residential rentals to cooperatives and condominiums, covering all aspects from design, renovation and sales in the process.