New York, NY According to ABS Partners Real Estate LLC, it has formed a joint venture with appraisal services firm R.D. Geronimo LTD. The new joint venture, ABS R.D. Geronimo Valuation Services LLC, will combine the expertise and services of both companies.
Richard DiGeronimo, MAl, SRPA, AI-GRS, president and founder of R.D. Geronimo, will act as managing partner of ABS R.D. Geronimo Valuation Services LLC joint venture. The announcement was made by Gregg Schenker, president and co-managing partner at ABS Partners Real Estate LLC.
ABS R.D. Geronimo Valuation Services LLC Joint Venture will offer real estate advisory services, including valuation and consulting; arbitration/litigation support; fair market value resets; mark-to market-rental studies; highest/best use analysis; expert witness testimony; underlying fee/ground lease valuations; and development modeling, as well as related institutional appraisal services.
“Valuation, advisory and appraisals offer a natural extension of the ABS Partners Real Estate services platform,” said Schenker, who oversees the 100-person commercial real estate firm with offices in Manhattan, Brooklyn and Westchester. “In the past, R.D. Geronimo LTD has worked with both ABS Partners and our capital markets division, ABS - Altman Warwick; we are extremely confident in the high quality of services and attention to detail that Richard and his team bring to this new joint venture. The joint venture entity provides a thoughtful governance structure which is ideal for both clients and ABS R.D. Geronimo to maintain and safeguard proprietary client relationships and confidentiality agreements.”
With the formation of R.D. Geronimo Valuation Services LLC, ABS continues its successful track record of establishing fruitful joint ventures for service lines, including capital markets advisory platform ABS - Altman Warwick. Meanwhile, on the property development side, ABS has partnered with firms on over $1 billion in assets.
“Our combined synergies will provide added value and a broader business platform, enabling each entity to both complement and expand the individual and collective footprints under the ABS R.D. Geronimo umbrella,” said DiGeronimo, MAI, SPPA, AI-GRS, who founded his firm over 30 years ago. “The preference of clients in today’s marketplace is working with a larger and well-established company that offers a full suite of professional real estate services under one platform, which this partnership accomplishes.”
As part of the joint venture, R.D. Geronimo LTD will maintain its corporate office in Mineola, and expand into the ABS headquarters at 200 Park Ave. South. The combination of service offerings will provide an enhanced experience for clients of both ABS Partners and R.D. Geronimo LTD, while giving each firm increased exposure throughout the New York Metro and Long Island markets. R.D. Geronimo LTD, separate from this partnership, will remain an independent operation continuing to provide its clients with the same level of valuation and advisory services for which it is known.
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