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Generational owners of multifamily properties turn to us because they will get more personalized service than they would from the bigger players, who cannot provide the same high level of attention we can.

ROSELAND, N.J. (PRWEB) July 07, 2022

Kriegman & Smith, Inc., a multifamily real estate investment and property management firm, is marking its 50th anniversary. This milestone underscores not only the longevity of the business, but just as important, the number of properties that have remained under management with the company over multiple generations, throughout New Jersey and Pennsylvania.

Founded by Michael Smith and Sam Kriegman in 1972, the firm grew from one desk and two northern New Jersey communities comprising 240 units to a portfolio of 6,000 apartment and townhouse units in two states. The company owns and manages garden apartments, mid-rises, luxury high rises, and townhouse-style duplex apartments across a range of rental rates. Kriegman & Smiths portfolio also includes properties it manages for third-party investors, including three non-profit affordable housing properties.

Today, the company is run by second-generation Co-Owner Jeffrey Smith and Co-Owner Adam Kaplan, who are committed to the firms founding principles: a dedication to maintaining high-quality luxury and affordable workforce housing available for renters for those just starting out in life to residents who remain tenants for decades.

Kriegman & Smiths history has not only been one of growth through acquisition and third-party partnerships, but also one that demonstrates longevity and stability among its properties, as well as employees. Weve always been committed to long-term goals and relationships, Kaplan said.

A history of longstanding relationships

One reason why we have maintained so many properties and retained so many employees across generations is that our core values have never wavered and are still our guiding principles 50 years later, said Smith. We treat each building as if it were our own. Thats never changed.

To that end, we are committed to delivering well-maintained properties that have benefited from strong investment in their upkeep and upgrades, with high-quality components meant to serve multiple generations of owners, managers and tenants, Smith noted. The company has also invested substantially in its own infrastructure to meet the challenging rental environment.

Were a small company committed to running our buildings with the same values our founders relied upon, but much like the large national firms, we have invested in the latest, most sophisticated property management technology to optimize operating procedures, said Kaplan, referring to its back-end integration with the firms website and digital tools for leasing agents, regional managers, resident managers and maintenance teams.

An owners perspective in third-party property management Smith attributes some of the companys success and longevity to the owners approach to property management, which has fueled its growth as a niche management operator for investor/owners and its expansion of services for those clients.

Generational owners of multifamily properties turn to us because they will get more personalized service than they would from the bigger players, who cannot provide the same high level of attention we can. These clients know that, as a third-generation, family-owned and -operated company, we appreciate the owners perspective and understand the importance of relationships and responsiveness across stakeholdersfrom the owners themselves to their leasing teams, superintendents and of course, residents, said Smith.

Property owners speak and work directly with Smith and Kaplan, without having to go through gatekeepers and a corporate chain of command and appreciate the flexibility available to them to meet their varied needs, instead of cookie cutter services.

Lisa DAllesandro, a managing member at Candal Properties LLC, has been a client of Kriegman & Smith since 2015, which manages their Hackensack, NJ, luxury high rise building with 267 units, concurs, Like Kriegman & Smith, we are a family-owned business, too, and appreciate the hands-on service and accessibility of the firms management team. There are some formulas you just dont change, and like us, they treat their staff like family.

Longstanding management of senior residences Kriegman & Smith also operates multiple communities for low-income seniors, some for 35 years or longer.

We are among a small group of property management companies that manage both market rate and subsidized properties, said Kaplan. Were very proud of this and value those properties and our relationships with them.

Those relationships have extended to both the management team and company employees getting personally involved, from showing up to flip burgers at barbeques to setting up and coordinating a COVID-19 vaccination drive at three sites through a partnership with Walgreens. For example, in January 2021, when vaccines were not yet widely available and appointments were challenging to access, the Kriegman & Smith team was able to get residents vaccinated and volunteered on site at all three residences in Union and Nutley as part of the companys commitment to community service.

Kriegman & Smith celebrated its 50th anniversary officially with an employee event on June 23. More information about the company is at http://www.kriegmanandsmith.com. ###

Photo Caption: Kriegman & Smith, Inc. on June 23, 2022, held a party for employees at Park Ave. Club in Florham Park. More than 150 employees and family members attended, where they celebrated 2020 and 2021 missed holiday parties and, of course, the Companys 50th Anniversary. A long list of more than 25 employees that have been with the firm since the last millennium were recognized.

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Kriegman & Smith, Inc. Celebrates 50 Years of Multifamily Investment and Property Management Business Across Generations - PR Web

This entry was posted on July 8, 2022 at 10:15 am and is filed under Longevity. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed. |