Building Financials

In conjunction with understanding the physical building, Choice New York assesses each property’s financial health. We pay particular attention to the expenses, current and projected rent roll, necessary liquidity and net cash flow.  

Accounting & Banking Platform

We view our accounting and banking platform as a critical component of our business. At Choice New York, we are emphatic about operating efficiently. In order to accomplish this, we have invested substantial capital into our accounting and banking platform. At Choice New York each property is treated as a separate account, even for the ownership structures that are identical on different properties. All security deposits are held in a New York State-based bank in separate interest bearing accounts. The operating platform is fully integrated electronically to allow for maximum operating efficiency while simultaneously providing a transparent, secure, user-friendly option for the owners. They can obtain any information about their property from anywhere in the world with internet access. Our management software is widely recognized as the premier property management software in the industry. In addition, we also offer options to furnish documentation and information to clients who wish to operate more traditionally. The reality of today’s technology, however, provides for impressive speed and ease of use for our owners and the cost savings we experience from an efficiency standpoint are continually passed on to our clients. If requested, we are happy to share examples of our accounting models as well as offer tutorials on using our virtual owner’s portal.  

Financial Models

As a product of our strong financial background and our modernized accounting platform, we are able to produce virtually any accounting model promptly upon our client’s request. From standard balance sheets and cash flow statements to more complex models, Choice New York takes a special pride in our ability to procure these essential reports at the most sophisticated level. Choice New York makes certain that our owners are fully equipped  to make difficult decisions by providing them with the most accurate, detailed, yet digestible date in the industry. We are pleased to field questions from external accountants representing tenants, vendors, and employees.  

Reporting

Our monthly management report includes a maintenance report, a financial report, and an ongoing strategy section. The maintenance report included a list of all service requests, work orders and turnover renovations-both completed and upcoming.  The financial report provides monthly and YTD statements by individual building and aggregate portfolio as well as an arrears report and copies of all paid invoices. The strategy section in the monthly report makes suggestions on how to incorporate the overall business plan into the upcoming month’s operations and assesses how the property adhered to this business plan in the previous month. We consider our reports to be some of the best in the industry, and allow owners the opportunity to accurately track the performance of their investment.

Services Overview

Choice New York Management, LLC is a comprehensive property management company that excels in managing various asset types in the New York Metropolitan Region.

  • Commercial
  • Multi-Family
  • Condominiums and Cooperatives
  • Single Unit Apartments