The Argo Corporation began its operations in 1951, when Henry Moskowitz, father of the firm’s current president and chief executive officer Mark, began purchasing properties on the Upper West Side by forming syndications with other real estate partners. The initial buildings were all rentals; Argo was hired by the partnerships to manage them. "Over time, the buildings were converted to cooperative ownership by Argo," says the younger Moskowitz, "and this was the pattern of the company through the 1960s and 1970s, and the way that Argo strengthened its management business and position in the industry."
Some of the properties converted by Argo to cooperatives continued to retain the firm for management services after conversion. "One of these properties," Moskowitz continues, "is 565 West End Avenue, which we continue to manage today, approximately 35 years after any equity connection to the building."
"In the mid-1980s," Moskowitz says, "we began to provide management services to third-party buildings. This market was actively expanded in the late 1980’s and again around 1995 upon Jeffrey Levy (Argo’s vice president and director of management) coming aboard." Moskowitz states that the "composition of our management portfolio today is approximately 50 percent third-party."
Both Moskowitz and Richard Levine, a former president and treasurer of 565 West End Avenue, allude to the changes made to the firm that both have seen grow for many years. "Argo has moved into a more automated world," says Levine. "Levy has been marvelous, collecting a marvelous staff. It has been an interesting process to watch."
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