A differrent approach to affordable housing.
Founded in 2009 Grinberg Management & Development LLC was
established to capitalize on the down turning local real estate market. What
makes us different is that our business model does not solely rely on the positive growth of future real estate values. Distressed foreclosure assets are acquired significantly below current market value, rehabilitated, and processed into long term income producing assets.
We believe that our unique approach of scatter-site affordable housing has been a successful key strategy which will continue to drive our growth both in cash flow and future assets appreciation. Rather than purchase building complexes and concentrate a large number of low income families in one place, we believe that our tenants should have a choice of where they want their families to live, and not just be limited to housing complexes. Most of our homes are two family structures located in residential areas.
In order to qualify for one of our apartments a prospective tenant must be able to show a positive track record with their previous landlord. A prospective tenant must also possess a federally funded housing choice voucher. Most of our tenants pay little rent out of their pocket but are offered apartment with renovations significantly above the industry standard.The demand for our apartments is very high, and units are typically rented pre construction. We have developed a reputation for having beautifully renovated apartments which feature porcelain tiles, mahogany kitchen cabinets and all hardwood floors.
We take pride in being able to provide high quality, affordable housing units to many low income families in our local community. In addition to benefiting our tenants, our acceptance of governmental rental assistance programs provides an added layer of financial security to our firm. This relatively low risk, non speculating business model has been fundamental in building a strong foundation and allowing for our rapid growth.
Since our inception in 2009 we have experienced triple digit growth year after year. We have quickly grown to become the largest privately funded scatter-site affordable housing landlord in the NYC area. We attribute our quick growth to having a solid foundation, strong process, loyal tenants and a great staff.