Direct Building Management

"Direct Building Management Inc…"

INTRODUCTION

Direct Building Management, Inc. DBM develops and manages a varied portfolio of cooperatives, condominiums, rental buildings and small commercial properties. Direct Building Management offers personalized attention to our buildings and their owners and residents, as we are well aware that like a person, every building has a different personality. DBM successfully handles all back office support functions using state of the art computer systems for billing and account receivable, collections and disbursements, general ledger and financial statements. We also offer customized management reports tailored to the specific needs of our clients. We manage on a daily basis with an eye constantly on the bottom line, as we are well aware of the importance of a property and managing its expenditures in order to maintain financial stability. At DBM our building developers and managers are skillful problems solvers schooled in the basics of building operation that are also resilient enough to respond to the problems and changing needs and wants of our clients as to how they want their building run. DBM combined all the essential elements of successful building development and management from high tech computerized reports, that are clearly laid out and easy to understand to always being available to personally meet face to face with clients. A building developed and managed by DBM is always thought of as a “great building” and a “safe & clean place to live” Our Motto: It’s a Promising Millennium.

BACKGROUND

Direct Building Management has been developing and managing real estate in New York City since 1988. Their firm is financially solid and has no ownership interest in contractors or vendors. DBM and its employees maintain a policy of continuing training both on the job and in professional education programs. We also attend industry meetings and seminars and scour professional publications and articles in order to keep abreast of the changes in the field and implement the effective methods at our buildings whenever possible. DBM realizes the single biggest complaint from any owner or resident is the lack of attention to a problem or situation. For this reason we require all the building managers to carry beepers, cell phones and Nextel walkie-talkies. We encourage giving beepers and walkie-talkies to the superintendent. In addition, we utilize a network of emergency outside repair personnel. DBM House Rules are in place to better equip the residents with their obligations in maintaining a clean, safe and quiet environment. All residents are encouraged to review and maintain a copy for future reference. DBM believes that it is often overlooked that managing a property is the same as running a business; owners want to know how much money is coming in and where it is going. All financial activities are documented and provided to owners in the form of monthly reports. Every building we manage has its own checking account, with its own tax EIN number, c/o Direct Building Management, whereupon there is no commingling of deposits. Certified Public Accountants are retained to perform annual audits, prepare year end financial statements and file corporate tax returns. DBM staff are trained, friendly professional individuals that are always available to meet the needs of the owners and board members of its cooperative & condominiums, to clients of rental buildings, commercial properties, and affordable low income homes.

EXPERIENCE

Since 1988, Direct Building Management has successfully completed many housing development and management projects, rendering management, maintenance and development services in New York City. Direct Building Management has also been instrumental in successfully helping refinance large residential properties citywide in conventional as well as cooperative residential areas, increasing their occupancy rate and profitability. DBM has built both itself and its subsidiaries from zero base to a leadership position in the community they serve, selecting a professional staff, directing their efforts for growth and establishing controls that have ensured stability and generated improvements in the quality of life of its residents. From developing properties for low-income families to managing luxury cooperatives in New York, Direct Building Management is in the cutting edge of providing the best possible service to its individual and owners. With its state of the art accounting and financial system, Direct Building Management has been able to satisfy its clientele with up-to-date ledgers, accounting and annual certification appointments. For its owners DBM can produce monthly financial statements, annual budgets, month to month comparisons, and upon request tailor any report to meet the needs of the owners. Experience varies from family owned real estate business to construction to community work. This has been instrumental in providing the expertise from management to development to assisting clients and owners in various areas. The DBM portfolio currently consist of over 1,000 units that are managed on a daily basis with over 20 supers, porters and maintenance crew on site. Over 70 buildings have been gutted and newly renovated providing clean, safe and affordable housing to underprivileged families in New York, with another 30 buildings targeted for development in the near future. Other work completed has consisted of major electric and plumbing replacement in luxury cooperatives to brick pointing and waterproofing. DBM has also been able to reach out to community social service providers to assist many of the underprivileged families in Brooklyn. Direct Building Management is on target with providing needs assessment to its clients and owners by attending seminars and training events available to the principals, employees and other staff members of DBM. Up to date annual publications of NYC regulations and literature are purchased and distributed to keep all involved abreast for the changes continuously affecting the real estate industry in New York City, whether it is in management or development.