Brownstone Property Group has acquired the management portfolio of respected NYC real estate firm James Realty, ensuring continuity of excellent management services for residents, investors and owners.
FOR IMMEDIATE RELEASE - Brooklyn, NY – April 10, 2022 — Within three months, Brownstone Property Group has expanded its management portfolio by double digits, extended its services to South Brooklyn, and increased its service offerings to include real estate appraisals.
Effective immediately, the Park-Slope-based company, which specializes in high-touch residential property management has agreed to acquire the portfolio of James Realty, a 60-year Brooklyn establishment. James Realty is respected for property development and management, with residential and commercial property in Park Slope and Bay Ridge Brooklyn.
In January 2022, Brownstone Property Group announced its merger with Neglia Appraisals and RJS Appraisals. This second deal in 2022 provides Brownstone with a broader reach into South Brooklyn, and expands its significant presence in the neighborhoods surrounding Prospect Park. The condos and rental properties acquired from the James Realty portfolio increase Brownstone’s managed property by some thirteen percent.
James Realty is a family-owned real-estate company with a reputation for delivering high-quality care to its condominium and rental owners and residents. As leaders in similar specialties, the transfer ensures that care of the residents, owners’-interests, buildings and finances will continue to be maintained at the very high-quality level that is Brownstone’s hallmark, thanks to the experience, talent, and innovation Brownstone has provided since its founding in 2004. The principals of each firm are noted for their outstanding customer-care approach and hands-on personal attention to clients’ needs.
“Brownstone Property Group is well-positioned to carry on the James Realty legacy and to elevate the quality of care of the James Realty portfolio to the next level of achievement and excellence” states Josh Blackman, Brownstone Property Group’s Principal. “The solid platform established by the James Realty professionals enables the Brownstone team to provide seamless continuity of excellent service to portfolio residents and property owners.”
Dean Alessio is the President of James Realty, and a highly respected real estate broker and developer, responsible for Park Slope condominium conversions. He took over management of James Realty from his father, Joseph Alessio in 1990, and has ensured the careful and expert care of his Brooklyn properties. “The timing was right” stated Mr. Alessio noting that “Brownstone Property Group enjoys a rightly-deserved reputation for excellent, thoughtful services. I am confident that the James Realty portfolio is being transferred to competent and professional hands.”
James Realty is a full service, family-run real estate company, experienced in managing and developing residential properties throughout the New York Metropolitan area since 1960. The firm draws on decades of experience, and has developed Park Slope condominiums, and managed properties in the Bay Ridge and Park Slope neighborhoods.
Established in 2004 in Park Slope Brooklyn, Brownstone Property Group has become the go-to small building manager in Brooklyn in addition to a highly successful general contracting and real estate brokerage. During 2021, Brownstone nearly doubled revenues and increased the size of its managed portfolio, employed team, and number of offices in a reflection of the Brooklyn real estate market’s steady improvement despite the pandemic.
To be in touch directly, contact Brownstone Property Group at info@brownstonemgt.com or call 718.499.6030.
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