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Management Firm Tapped for Brooklyn MFs

NEW YORK CITY-Walter & Samuels' David Berley says he expects to see more third-party management assignments from lenders this year.

By Paul Bubny | Updated on March 31, 2009

NEW YORK CITY-Walter & Samuels, Inc., has been contracted to manage three multi-family buildings in the Midwood section of Brooklyn. In a release, Walter & Samuels chairman David Berley says he expects more buildings this year will be handed over to outside firms to manage.

“In today’s economy, we are focusing on our core business of managing the properties we own,” Berley says in a release. “However, we are open, as we’ve always been, to third-party opportunities where there is a good fit. Having taken on select third-party properties in the outer boroughs in the past, we recognized these buildings as excellent opportunities.” He adds that “in the current market, I expect we will be asked to manage properties throughout the city, and especially assets that have been taken back by lenders, who in general don’t have the resources to manage a portfolio of properties.”

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