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Kevin Hogan

Solstice Residential Group
Property Management

Contact Information:

NY 10065
US

Years in Business:

 

9

Clients I'm Seeking:

 

Condominiums/Co-Op's and Boards who are seeking new management as well as Honest, Well Established vendors who can provide legitimate honest services at a fair price and in a timely manner and who stand behind their work to these types of high end clientele & properties.

About My Business:

 

Dear Prospective Client: I am writing to introduce you to Solstice Residential South, LLC, an affiliate of Solstice Residential Group, LLC, a New York City based property management and real estate advisory services firm, for which I work as a Resident Manager. Solstice Residential Group, LLC commenced operations in July 2008 and has quickly become a recognizable and well-regarded manager of luxury and super luxury cooperative and condominium residences in New York City. The key to our success has been the building of a core foundation which consists of unparalleled management, detail-oriented operational, financial and administrative capabilities and transparency. Open lines of communications with our boards and unit owners/residents is paramount. It is this business model that we endeavor to introduce to the South Florida property management market. Please find below a brief outline describing our firm and the services we provide. Company Overview Solstice Residential South, LLC is a young firm specializing in the management of Cooperative, Condominium and Homeowner Associations in Southern Florida. We pride ourselves on providing our clients the depth and resources of larger firms while maintaining the personalized interaction and attention to detail of a smaller boutique firm. We are thoroughly knowledgeable in the operations and day-to-day management of Cooperative and Condominium residences and Home Owner Associations in Southern Florida, including the complexities of capital improvements, maintenance of physical and mechanical plants, staffing, finances and most importantly, responsive and polite communications with our boards of directors and managers, residents, professionals, contractors and staff. Principals Allen London, Chief Executive Officer, is an attorney (JD, NYU, ‘73) and holds an MBA from Columbia University (MBA, Columbia, ‘89). Mr. London’s working life has been divided between the practice of law and work in the real estate business. Since the late 1970s, he has worked in a family real estate firm that built and still currently manages its own buildings on Manhattan’s east side. In that capacity he has participated in numerous capital projects, refinancings, leasing, legal proceedings and general real estate administrative work. He is a member of a number of management associations including the Building Owners and Managers Association as well as the National Multi-Housing Council. Alex Kalajian, Chief Operating Officer, is a licensed Florida Community Association Manager (CAM) and holds a BA in accounting and BBA in business administration with a concentration in finance. Mr. Kalajian is primarily responsible for the day-to-day management and oversight of Solstice’s portfolio of properties. Throughout his career Mr. Kalajian has successfully completed in excess of $150,000,000 in capital improvement projects. Mr. Kalajian started his career working for a developer and was responsible for gut renovating, down to the brick core, a significant number of large residential properties in the northeast. His responsibilities on those projects included daily site inspections, overall coordination of the construction projects including working with owners, engineers, architects, contractors, tenants, community leaders and public administration officials to bring the projects to successful completion. The acquisition, financing and development of these properties were under the jurisdiction of a number of private banking institutions and local city and state governments. Mr. Kalajian’s financial reporting responsibilities included interfacing with New York City Department of Housing Preservation and Development, Housing Development Corporation, Chase Community Development Corporation, Connecticut Department of Finance, Boston Capital, First Union and Boston Mortgage and reporting to those agencies/organizations on budget projection and analysis, pro-forma statements, cash flow projections, financial analysis, capital investment analysis and financial forecasting and monthly reporting. More recently, from 2001 through July of 2008 when he launched Solstice Residential Group, LLC together with Allen London, Mr. Kalajian was the Vice-President of Operations for a large property management firm based in NYC and Florida. In his capacity as VP of Operations, Mr. Kalajian provided operational and code compliance support to the management firm’s property managers. Mr. Kalajian developed and implemented 5-year capital plans for managed buildings including replacement of major systems components based on priority with detailed and accurate budget opinions. In addition, he oversaw and acted as project manager for large capital improvements within the firm’s managed portfolio of buildings including multi-phase/multi-million dollar mechanical installations, façade restorations, plumbing risers, electrical redistribution and basement, lobby and hallway renovations. Other responsibilities included crisis management and client acquisition and retention. He was also on the executive committee participating in policy and corporate decisions for the firm. Together Allen London, Alex Kalajian and the Solstice management team, make it a priority for Solstice to make the time necessary and to apply their collective knowledge of building systems, financial reporting systems, staffing relationships and experiences to building owners. Key Personnel Benjamin London, Corporate Counsel, is an Attorney (BA, Dartmouth, ‘01 and JD, Fordham, ‘05). Mr. London started his legal career with Herrick, Feinstein LLP, where he represented clients in the acquisition and sale, financing and joint venture structuring of property transactions in the northeast. Mr. London’s responsibilities included the drafting of purchase and sales agreements, joint venture agreements in connection with equity structuring, negotiation and drafting of loan documents, due diligence including review of lease abstracts and drafting of leases. Mr. London transitioned from a legal career at Herrick Feinstein to a hybrid legal and financial position at Cape Advisors, a real estate developer, where his responsibilities included financial and due diligence analysis of potential acquisitions / developments, negotiation of mezzanine / equity financing for a condominium development and preparation and analysis of loan, joint venture and leasing legal documentation. Today, Mr. London is responsible for managing and directing Solstice personnel in the Miami office and serves as an advisor to our client managed portfolio of buildings. Jeff Singer, Chief Information/Financial Officer, is a financial analyst, (JD, Washington University Law School, ’98). Mr. Singer started his financial career as an equities trader and quickly advanced to Director of Compliance in Citigroup’s Global Markets division. Mr. Singer’s responsibilities included budget coordination for Global Compliance, Compliance Technology applications, development of several initiatives, including Regulatory Systems Committee and has testified as an expert before the NYSE. Mr. Singer heads all of Solstice’s financial affairs and is responsible for all compliance and regulatory filings for our managed portfolio of buildings. Pierre Zarzour, Director of Management, (BS, Hofstra University, ’04). Mr. Zarzour is a licensed Florida Community Association Manager (CAM) and is a seasoned residential property manager with specific expertise in all aspects of building operation, budget preparation, staff supervision, management reporting, and Board/resident communications. Prior to joining Solstice Residential Group, Mr. Zarzour managed a portfolio of luxury New York City cooperatives and condominiums, and oversaw a team of managers providing operational, financial, construction and code compliance support. His work ethic and productivity resulted in rapid promotions through the ranks of two management companies, ultimately rising to Director of Management and admission into the companies’ Management Executive Committees. Seeking greater challenges and the opportunity to make a positive contribution to more complex residences, Mr. Zarzour joined the Solstice team in 2009. Danielle Kahane, Management Executive, (Bachelor of Architecture, University of Miami). Ms. Kahane is a licensed Florida Community Association Manager (CAM) with significant experience in all stages of real estate investment and property management, including research, business development, purchases, major repairs, renovations, rentals and sales. She maintains strong and courteous interpersonal relationships with all tenants, residents, board members, building staff, contractors and vendors. As an interior architect, Ms. Kahane has worked for some of the most prominent firms in South Florida. She actively participated in the design and development phase of high-end hotels, resorts, and restaurants including Ritz-Carlton Key Biscayne, LeParadis in St. Lucia, Ritz-Carlton St. Thomas, and Nikki Beach, as well as luxury residential projects such as St. Tropez in Sunny Isles and Skyline in Brickell. Ken Lupano, Executive Director of Project Services, (BA, Ohio Wesleyan University, Economics & Communications, graduate work, NYU Stern) Mr. Lupano’s team manages large capital infrastructure projects for Solstice properties. He brings together Boards, owners, architects, engineers, construction companies and the City in a coordinated effort to insure major project execution meeting highest level of stakeholder expectation. Mr. Lupano is a conceptual, creative, results-driven management professional with extensive experience building, motivating and leading work teams in real estate, business and facility operations. With his strong communication, budgeting, financial control and negotiating skills and 12 years as the board president of a full service luxury Manhattan condominium, Mr. Lupano has a proven record of accomplishment directing physical infrastructure and technology-based capital projects with the needs of the board and owners as a primary concern. Yakov Isakov, CPA, Financial Controller, (BS, College of Staten Island, ‘12). Mr. Isakov started his career in Supply Chain for a major appliance manufacturer. During his time there he advanced to Assistant Operations Manager, handling distribution from five distribution centers, and attended night school for his bachelor degree. Mr. Isakov obtained his Certified Public Accountant (CPA) license in 2014. Mr. Isakov is responsible for overseeing the day-to-day and periodic financial management of all of our managed client accounts. This includes primary oversight of annual audits, including acting as the liaison with the independent auditors. He is responsible for tax payment and filing compliance, and for producing and administering the monthly client financial statements for Solstice’s managed portfolio. Planned Growth Our business plan is to focus on establishing ownership-focused oversight and hands-on management for the properties we manage before taking on new assignments. We intend to grow our business organically, carefully matching additions to our clientele with the resources of our firm. This is the core of our business model. Mission and Differentiation The Solstice mission is to provide its clients with excellent, consistent, and reliable property management services utilizing advanced financial reporting systems, customized operating, capital and energy optimization programs to drive client satisfaction. Solstice seeks to differentiate itself by managing client properties with an owner’s perspective. The goal is always three fold: efficient operations of physical plant and staffing, optimum resident satisfaction and asset value enhancement maximizing return on investment. Financial Services The financial department is responsible for billing, collecting and posting common charges received from unit owners, applying late fees in accordance with policy set by your Board under the by-laws, attending to accounts payable including payment of all vendor bills, utility bills, underlying mortgages, taxes and other contractual payables. The Solstice monthly financial statements outline the building’s cash position, receivables and payables. They include current and year-to-date income and expense reports, a common charges collection report detailing the amount billed, amount collected, and units in arrears, a vendor payment ledger, including invoice number, amount paid, date paid, check number and year to date payments made, statement of unpaid bills, detailing number of days outstanding, general ledger, tracking of expenditures including budget to actual comparisons, with detailed explanations for significant variances, copies of bank statements, a monthly bank reconciliation and most importantly detailed cash and capital accounts reports, which are produced through the management software systems. Generally, the financial reports are produced and distributed no later than the 30th day of the month. Each monthly financial is accompanied with bank reconciliation statements for the month for which the financial report was produced. Resident Relations Solstice prides itself on responding to all unit owner and resident inquiries in a timely manner. The entire Solstice team is readily available to respond to questions from board members, residents, professionals and others as they arise, returning all calls within the same day without fail, even if we do not yet have an answer to the specific question. With every new management assignment, the Solstice team hosts an introductory cocktail party to meet the residents of the building and exchange information. For those residents unable to attend our cocktail event, Alex Kalajian contacts them to introduce the Solstice group individually, describe our services, ask about problems or issues and offer advice as needed. Board Relations A critical component of operating and managing a community association is the relationship between the Board and the management team. We make it a priority to understand the Board’s vision and goals for the property, and we include the Board in all of management’s activities to the extent and detail that the Board wishes to be included. In addition to the financial reporting package, discussed above, a major coordinating tool that we employ is our action list. The action list contains a detailed status and explanation of each action item as presented. Our primary objective is to manage the action list as a communication and organizing tool so as to keep the Board well informed as to the operations and finances of the association and to be able to participate meaningfully in providing direction to management. Ordinarily, the financial package, action list, bids for services, copies of any relevant correspondence and any other information the Board needs is presented in a package a minimum of three days in advance of the Board meeting to facilitate a productive meeting. Naturally, when we are in the process of your transition or your property is in the midst of a capital project, we increase the frequency of reporting as appropriate to the situation. Closing Department Headed up by our in-house corporate counsel, Solstice provides a fully functional closing department to process and expedite apartment transfers and leasing in accordance with the by-laws and Board policies of our portfolio properties. The transfer department receives and processes applications for review by the Board within 72 hours of receipt of the required information. Upon approval, Solstice works with the seller and purchaser professionals to schedule and implement closings. Energy Conservation Solstice is a leader in identifying and reducing energy consumption for managed properties. We will seek your approval to participate in a variety of programs available through Florida PACE (Property Assessed Clean Energy), which provides qualifying properties with low interest financing for energy efficiency projects including renewable generation, co-generation systems and wind mitigation improvements including wind-rated doors and impact resistant windows and storm shutters. We stay abreast of new programs offered by the Florida Department of Agriculture and Consumer Services – Office of Energy. Through its implementation affiliate, Solstice Energy Services, LLC, Solstice specializes in implementing energy aggregation programs (commodities), electricity curtailment programs, energy efficient and “green” products, bi-level lighting, and energy education. Solstice works first hand with several energy conservation and sustainability consultants not previously available to the Florida Cooperative, Condominium and Home Owner Associations markets, and has been successful in financing and implementing energy conservation projects through third party lenders specializing in this field, where traditional financing is unqualified, restricted by underlying loans or may otherwise be unavailable. Emergencies/Crisis Management Solstice operates and maintains an emergency on-call system to ensure our availability to our clients at all times, 24 hours per day, 365 days per year. We are thoroughly knowledgeable and well experienced in coordinating and handling emergencies at all hours including flood, fire and wind-storm damage. We work with a number of emergency response vendors that have contracted with and are available in times of need and under strict minimum response times. As a recent example of our ability to respond promptly, we supervised the emergency management of a building that had a large fire. We were able to respond immediately following the fire department turning the building over to management. Having, on stand-by, disaster recovery services, we were able to clean up the building, restore power and put residents back into their homes within hours. Our ability to do so was a result of the excellent response by first responders, our good relationships with highly competent general contractors and our good relationships with our unit owners/residents. Allen London, our CEO, was the 2012 recipient of the John M. Griffin Community Service Award for his tireless efforts and contributions in reporting back to Solstice team members, and by extension the real estate community at large, firsthand critical information during Hurricane Sandy. The John M. Griffin Community Service Award recognizes meritorious service to the community by a REBNY management member. I welcome the opportunity to meet with you and your colleagues to discuss our services in greater detail and obtain an understanding of your management requirements so that we may provide you with a formal proposal for our services. The foregoing is a brief overview of our company. Included are samples of the typical reports you might receive from us if we are retained, including:  A Sample Financial Report  A Sample Budget  A Sample Task List  A Sample Residents Manual Naturally, all of our internal administrative reporting systems including the above listed reports are customized to meet our client’s specific needs. I look forward to hearing from you so that we may arrange for a mutually convenient time to discuss our services and your management needs in more detail. I can be reached at 212-753-2329 ext. 326. Sincerely, Alex Kalajian Chief Operating Officer Solstice Residential South, LLC

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