New York, NY The New York Real Estate Journal (NYREJ) recently sat down for a question-and-answer session with Adam Kapner, principal at NYC Apartment Management. NYC Apartment Management is this month’s featured company.
NYREJ: What made you start your firm? Where did you draw inspiration to start your business?
Kapner: I used to work for a developer. Honestly, I felt I achieved all I wanted to within that area and was in desperate need of a change. For me, I’ve always been a go-getter and somewhat of an entrepreneur. Since I knew there was a real need for a hands-on management service within the boutique property industry in NYC, I seized the opportunity and started my business. It’s been seven years and I haven’t looked back.
NYREJ: What were your visions and how have you met or surpassed those visions?
Kapner: Again, I knew there was a real need for boutique management, but what surprised me is how the community embraced our service. Our clients have been so warm and welcoming. Of course, everyone sees million dollar listings on TV and wants to be a broker. Though when it comes to property management, I’m not sure how many people are dying to break into the biz. I’m just glad we are not only succeeding within the industry, but we’re also able to enlighten people about this career choice.
NYREJ: In what different ways has your company grown since its inception? In what ways do you expect to grow in the future?
Kapner: We have been very fortunate to achieve success early on. As of now, we have accrued a portfolio of 40 properties. While we are becoming established in the boutique market, we are looking to expand to provide management services for larger buildings in the near future.
NYREJ: How has your business evolved over the years?
Kapner: Like all businesses starting out, we were hungry for clients so we took what we could get—property wise. A strategy that resulted in us gaining a better understanding of the positives and negatives of this biz. Now, with a number of years under our belt, we are more focused and selective in the properties we target.
NYREJ: Where do you see your business in 10 years?
Kapner: Growth, which is the obvious goal of any company. Specifically, we’d love to have one hundred and fifty buildings in our portfolio with a wide spectrum of property sizes. Not to mention, lots of ownership stakes in these buildings.
NYREJ: Can you give a few examples of the types of projects that your firm is involved in?
Kapner: Brownstones, apartments, co-ops, you name it. As of right now, we are managing five units downtown and a building made up of 150 condos located on the Upper West Side.
NYREJ: What makes your firm unique from other companies?
Kapner: We are not some huge conglomerate that treats clients like numbers. Like our boutique properties that offer personal charm—our team of specialists are dedicated to delivering personalized service. Being a smaller firm allows us to be nimble. Versatile. We are ready to pivot, if the situation calls for it. And last but certainly not least, we have long-standing relationships with all of our buildings.
NYREJ: What is it like working at your firm? What is the culture at your firm like?
Kapner: For us, work-life balance is extremely important. We also try to make the atmosphere as laid back as possible. If there is any sort of friction we do our best to alleviate the situation right away. At the end of the day, we want our employees to like working here. And when those big projects arise, we incentivize everyone to chip in and make sure all of our employees know that they are a pivotal part of the team.
NYREJ: What is the magic formula for maintaining quality at NYC Apartment Management?
Kapner: It starts with recruitment. We aren’t just searching for people who can handle the job. We are looking for individuals who have a passion for this industry. People who want to make a difference when it comes to the lives of the tenants in our buildings.
NYREJ: How do you measure success?
Kapner: It honestly comes full circle for me—the reason I got into this business. Satisfaction. Regardless, if you own the building or are a tenant, we don’t consider any job a success unless both parties are happy. That’s the principle I try to instill in all of my employees.