New Marketing Team Turns Leasing Around at East Harlem’s 1,230-Unit Riverton Square

New York, N.Y.--Developed in 1944, Riverton Square encompasses 12 buildings stretching from Fifth Avenue to the Harlem River.

New York, N.Y.–In the midst of a lackluster multifamily market, Rose Associates Inc., the new marketing and leasing team for Riverton Square in East Harlem, N.Y., has wasted precious little time in transforming leasing activity at the 1,230-unit apartment complex from lethargic to lively.

Developed in 1944, Riverton Square encompasses 12 buildings stretching from Fifth Avenue to the Harlem River. The predominantly market-rate apartment community features one- and two-bedroom residences with rents ranging from $1,300 to $1,800 per month. Rose Associates, tapped by the special servicer for the foreclosed upon property, has orchestrated 30 new lease agreements in the last 60 days.

“We came in and created a new website for Riverton Square, put new exterior signage on the building, established an on-site leasing office and changed up operations, and it’s been very successful,” Robert A. Scaglion, senior managing director of residential marketing at Rose Associates, tells MHN. “The market has been very positive about the changes.”

Rose Associates has managed to succeed where the previous marketing and leasing team failed. “We’re an 80-year-old company and in these times when a financial group is looking to turn around an asset, they want to work with a firm like ours,” Scaglion says. A top developer, manager and marketer of premium residential, commercial and retail properties, the firm manages over 25,000 residential units across New York City. “Rose Associates has a sterling reputation within the New York City real estate market, and we know it is really about the enjoyment of the lifestyle for the residents. It’s hard work, but we make sure they’re getting what they expect.”