Olmstead Properties

Olmstead Properties, Inc. is a full service real estate company that was established in New York City in 1930 and is one of the oldest privately held real estate companies in New York. The firm owns and manages over thirty income producing properties totaling approximately three million square feet and specializes in the management, leasing and development of New York City, Class B+ office properties. More than seventy percent of the properties are owned, in whole or in part, by the partners of Olmstead. The company’s approach to management is that of a "hands on surrogate owner". To that end, the organization distinguishes itself from the competition by taking an aggressive approach to leasing and management. All leasing personnel handle every aspect of a tenant’s needs, starting with lease negotiations and continuing through the tenant’s renewal. Olmstead’s philosophy is evident in the high occupancy levels at the properties and the firm’s success in acquiring several Manhattan office buildings with institutional equity partners. The ultimate goal is to ensure that every tenant renews their lease at the maximum attainable level, and that every property is run in as safe and efficient a manner as possible. To streamline operations, Olmstead takes responsibility for all accounts receivable, accounts payable and property management functions. In addition, operating budgets are formulated monthly and year-to-date variances are tracked. Ownership’s monthly statements also include leasing, vacancy, and operating variance explanations and updates. These can also be customized as required. To maximize the efficiency of its operations, Olmstead’s corporate office uses a state of the art system, utilizing Skyline as its property management system. Skyline has become the industry standard software and features a fully integrated accounts receivable, accounts payable, general ledger, and property management package. In addition, the company works with a computerized lease-form computer program, enabling the home office to quickly and efficiently e-mail leases to parties concerned in the lease-negotiation process, reducing down-time at the properties.