Behind the Scenes with Brad Zackson: A Day in the Life

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A pioneer in real estate development, finance, and management in New York City, Brad Zackson joins Dynamic Star, LLC, to share his decades of experience. In addition to his creative approach and “out of the box” thinking regarding real estate development, Zackson has proven to predict future development trends and identify market opportunities. The company has developed 5 million square feet of real estate since 1992, helping to realize a total value of more than $3 billion.

As a manager and supervisor of more than 45,000 units in the New York area during the late eighties and early nineties, Brad Zackson launched his career. The company Zackson formed during this period specialized in cooperative and condominium conversions and sales. Over the following several years, he converted over 5,000 apartments across the New York metropolitan area into co-ops and condominiums.

In addition to his expertise in real estate development, investment, and marketing, Zackson is also working for Dynamic Star in Greenwich, Connecticut. The Zackson team has been involved in steering complex real estate projects through various stages of the development process throughout their career. Throughout his career, he has navigated complex land use, zoning, and underwriting requirements, conducted investment analyses, and purchased, developed, managed, operated, and marketed complex real estate projects.

Zackson has a history of collaborating with local communities and government agencies. Developed in close coordination with the city’s Mayor, Housing Secretary, and Inter-Development Bank, he developed The Singapore Project in Sao Paulo, Brazil, which included 17,000 units for low-income families. A master-planned community comprising residential, commercial, retail, and parks was rezoned by Zackson in Miami, Florida, in collaboration with the community.

In recent years, he has acquired and combined three important Long Island City properties. A 1 million square foot development site was developed by merging two adjacent properties with different owners, obtaining air rights from the MTA expedited, and merging two adjacent properties owned by different owners to create a critical pre-construction development aspect for the “Clock Tower Building.”

Real estate

Property management: duties and obligations in the case of property

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The field of activity of a property management services company for condominiums is legally defined. The Condominium Act is applied here, according to which the management of a building has to represent the interests of the owner via third parties. In doing so, it has to proceed economically and appropriately.

There are many services that a property management company offers. 33 Realty offers the following tasks and duties:

Maintenance and refurbishment

  • Timely implementation of remedial measures, e.g. Replacing windows, repairing water damage
  • Supervision and care of the house and the outdoor facilities
  • Commissioning of repair work, e.g. on electrical, water and gas lines or elevators

33 Realty

Cost accounting and reserves

  • Billing of operating costs
  • Calculation of heating and hot water costs
  • Build up reserves
  • Reminders of arrears should payments from owners be outstanding

Duty to provide information and visibility

  • Obligation to provide information to all apartment owners to provide information on the contents of the management contract
  • Viewable account for every owner about deposits and withdrawals
  • Annual forecast of any remedial measures that may arise
  • Transparent information about the cost calculation and the required reserves
  • The utility bill must be sent in writing to the owners no later than 6 months after the end of the last calendar month

Owners meetings

  • At least every two years, an owners’ meeting is called
  • Information about the condition of the house, changes in costs and future investments
  • Discussion platform for complaints and problems, with the property management acting as a problem solver

There are no legal requirements for the management of rental properties . The area of ​​activity of the property management results solely from the contractual agreement with one or more property owners. Consequently, it has to represent the interests of these property owners via the tenants.