Financial peace of mind. That’s what 252 West Owners Corp. President Lynn Carroll and Assistant Treasurer Howard Musk wanted for their self-managed, six-unit brownstone co-op on 102nd Street in New York.
Over the years, self-managing the co-op had become increasingly time consuming for the small group of owners. Then, a former owner who had served as treasurer for nearly 20 years moved away, leaving Lynn and Howard to handle all the financials themselves.
“It was working okay, but not great. You can’t do it all and keep up with all the regulations and everything else you have to consider,” Lynn said. “We wanted to hire a financial manager because we wanted to lessen our risk of inadvertently doing something wrong. We knew what we needed, but we didn’t know where to find it.”
As a small co-op, Lynn and the owners didn’t want to work with a large accounting firm or take on the expense of a full-service management company. Then, one of 252 West’s owners met Felix Rozenbaum of Condo CFO through the Council of New York Cooperatives and Condominiums. After one interview with the board, they felt right away that he was what 252 West needed.
“What makes him different is that it is just him,” Lynn said. “It’s a very personal experience, and he’s always accessible.”
After several meetings to fully understand their needs, Felix set up 252 West’s financial reporting and accounting system online so owners could have a clear view of current finances and be part of the monthly bill approval process.
“We are all modern now!” Lynn said. “We don’t see him a lot, but we don’t need to. He always answers our questions quickly and efficiently. If we had more regular meetings and needed him to be physically involved, we know he’d be there.”
In addition to helping 252 West keep up with the morass of New York City real estate rules and regulations, Felix also handles the building’s income and real estate taxes, annual budgets and any necessary invoicing or collections. “We couldn’t be happier with our decision to work with Felix,” Howard said.
Felix has become a vital, valued part of the co-op since signing on in 2018. “He has been a godsend for 252 West,” Lynn said. “He is trustworthy, reliable, patient and very accessible. His expertise and friendly manner have brought us all relief and peace of mind as we know our finances are being looked after professionally and promptly, and we can trust our building is in great shape financially.”
Howard echoes that sentiment. “Peace of mind is most important,” he said. “He took the financials off our plate, saving us time and getting us incredibly organized. It’s also great to have someone knowledgeable on our team who can advise us beyond the mechanics. I wholeheartedly recommend him to other buildings.”