Unlike most firms managing major co-op and condo properties in the metropolitan area, Mark Greenberg Real Estate (MGRE) is not located in Manhattan or another city borough, but is situated in the quaint Long Island town of Port Washington, a locale known for boating, water recreation and a pristine quality of life for its inhabitants. Directly across from the Port Washington railroad station, just a town or two past the well-known town of Great Neck, MGRE’s offices exude a constant cheerfulness. A receptionist greets with a smile and a tidbit of words. Staff passing by her desk are busy, but offer friendly greetings to each other. "We have a great working atmosphere," says Steven Greenbaum, director of management of the company’s 30 employees.
When asked if it has been a hindrance to be located on Long Island, Greenbaum suggests just the opposite. "Almost all of our staff is from Long Island," he says. "And, if anything, we have much more space and resources here than we’d have in the city, so we’re able to keep more records on the premises," allowing efficient and effective management.
The Logical Choice
As the firm’s name suggests, MGRE was formed 21 years ago by president Mark Greenberg, a young man who bought buildings and converted them into co-ops and condos. Right before the collapse of the real estate market in 1987, Greenberg stopped the conversions and analyzed the business. During the same time, people in many of Greenberg’s converted buildings had asked that the company manage the properties. According to Greenbaum, Greenberg decided to give property management a shot. The decision has proven successful.
Vice president James Goldstick joined the firm in 1981 and Greenbaum came along in 1984. Greenberg provides an invaluable resource for the company in terms of financial guidance. According to Goldstick, Greenberg "has an incredible knack for knowing sponsors, mortgages, and restructuring loans. When any of our buildings need creative methods, Mark’s a genius to get help from."