Within three months, Brownstone Property Group grew its management portfolio by double digits, expanded its services in South Brooklyn and increased its service offerings to include real estate appraisals.
Effective immediately, the Park-Slope-based company, which specializes in the management of high-end residential properties, has agreed to acquire the portfolio of James Realty, a 60-year-old Brooklyn establishment. James Realty is respected for property development and management, with residential and commercial properties 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 in South Brooklyn and expands its significant presence in neighborhoods surrounding Prospect Park. Condos and rental properties acquired from the James Realty portfolio increase Brownstone’s managed property by approximately thirteen percent.
James Realty is a family-owned real estate company renowned for providing high quality care to its co-owners and tenants as well as its residents. As leaders in similar specialties, the transfer ensures that the care of residents, owners’ interests, buildings and finances will continue to be maintained at the very high level of quality that characterizes Brownstone, through experience, talent and innovation Brownstone has provided since its founding in 2004. The leaders of each company are recognized for their exceptional approach to customer service and their personal attention to customer needs.
“Brownstone Property Group is well positioned to carry on the legacy of James Realty and elevate the quality of care of the James Realty portfolio to the next level of achievement and excellence,” said Josh Blackman, Director of Brownstone Property Group. “The solid platform established by the professionals at James Realty enables the Brownstone team to provide a 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 the management of James Realty from his father, Joseph Alessio in 1990, and ensured the careful and expert care of his Brooklyn properties. “The time had come,” said Mr. Alessio, noting that “Brownstone Property Group enjoys a well-deserved reputation for excellent and attentive service. . »
James Realty is a full-service, family-owned real estate company experienced in managing and developing residential properties in the New York metropolitan area since 1960. The company draws on decades of experience and has developed Park Slope condominiums and managed properties in the Bay Ridge and Park Slope neighborhoods.
Founded in 2004 in Park Slope Brooklyn, Brownstone Property Group has grown to become the go-to manager of small properties in Brooklyn, in addition to a highly successful general contractor and real estate brokerage. In 2021, Brownstone nearly doubled its revenue and increased the size of its managed portfolio, employed team and number of offices, reflecting the steady improvement in Brooklyn’s real estate market despite the pandemic.
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