construction PROJECT MANAGEMENT services NYC
Facing the complexities of planning extensive building repairs or system replacements? Our construction project management services NYC are your solution. We take on the heavy lifting, freeing up your time so that board members can concentrate on regular building matters while we ensure your project moves forward seamlessly to completion.
Our construction project management services include:
Creating a master plan and priority list
Procuring bids, assisting in selection of vendors
Applying for all available rebates, incentives, and tax credits
Managing construction projects from start to finish for on-time and on-budget delivery
Delivering positive results for boards and buildings
“I can wholeheartedly recommend Folson. They are professional, resourceful and very responsive. I enjoy working with them - and have got a lot done. They are used to dealing with buildings and their boards - and have a great deal of understanding and tact.”
We take a holistic approach in identifying the building’s construction projects to properly prioritize projects.
Examples of construction projects include:
Façade Inspection Safety Program (FISP)
Electrification and boiler replacements
Local Law 97 Consulting
Elevator Upgrades & Replacements
Intercom Replacements
Gym Installations
Most clients choose our construction project management services because they feel that their property manager does not have the bandwidth to oversee their building’s upcoming construction projects.
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Planning for the construction of large building repairs or system replacements will require many hours, over many months. Engaging a project management firm alleviates the majority of the burden so that board members can continue working on their building’s regular issues while the project manager concentrates on moving the assigned project forward to a successful completion.
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As any real estate professional who frequently deals with construction knows, surrounding yourself with the right professionals is key to moving the project forward. Since the planning stage is the most important part of any project, bringing in a project manager during the planning stage is best practice. If you have already started the project and are stuck, a project manager can help move the project forward to completion. The most important issue of any capital improvement project is that a co-op or condo board’s first duty is safety. Board members are fiduciaries and must act in the owners’ and members’ best interest. It is in no one’s best interest to live in an unsafe building.
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The building’s agreement with the property management firm should list what the property manager’s responsibilities are, and what services they can provide at additional fees. It is common practice among property management firms that all projects above a certain dollar amount, i.e. $100,000, have additional fees either as a percentage of the project or at an hourly rate. Being that property managers already have a full schedule running the day-to-day operations of your building, stretching their time with large projects might cannibalize on your own services.
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The construction project management fees can be based either on an hourly rate, or as a percentage of the total cost of the project. Our fee is 15% of the cost of the project. We pride ourselves in moving the project forward to completion, which offsets the extra cost that delays would have otherwise incurred.