Asset Management at Northeast Brooklyn Housing Development Corporation (NEBHDCo) is focused on maximizing the value of every building in its expanding real estate portfolio. The Asset Management team works closely with its property management team to ensure that all buildings are operating efficiently and realizing their full potential as affordable and sustainable assets. Asset Management at NEBHDCo is also very involved in maintaining the financial viability of every building over the life of the entire real estate portfolio.
The asset management team oversees the day-to-day operations and maintenance of the 1066 units of affordable rental housing that NEBHDCo owns and manages along with its 17 commercial tenants and third party property management companies. Asset Management services are integral in developing relationships with our tenants, allowing us to offer effective services to improve their quality of life. The process is facilitated through an integrated asset management/accounting software system, which provides a real-time accounting of asset management activities, allowing for both improved management of current properties and increased capacity to manage additional projects.
NEBHDCo is working with Alex Herrera’s Deli located at 156 Marcus Garvey Boulevard. By collaborating with and receiving funding from NYC’s Department of Mental Health and Hygiene Healthy Bodega Initiative, City Harvest’s Healthy Neighborhoods Initiative and The Coalition For The Improvement of Bedford-Stuyvesant Bodega Grant. The program offers corner stores and supermarkets comprehensive assessment, hands-on training and merchandising assistance to boost the selection, variety, and quality of fruits and vegetables. The program comes with marketing support, such as cooking demonstrations, and customer evaluation and feedback.
The owner was able to receive new refrigeration, produce stands and lighting for the deli. Now, he provides more healthy fruits and vegetables to the community. As a result, Alex Herrera’s Deli has improved store sales!
NEBHDCo hopes to expand this technical assistance to other retail bodegas. Currently, we are working with public-private partners to provide additional resources in our commercial areas.