Our Inaugural Property Management Edition!

We're pleased to present the very first issue of Bisnow Property Management, a bi-monthly pub spotlighting top players in the industry--like Paramount Group PM SVP Ralph DiRuggiero, whose firm owns 15M SFin NYC, DC, and San Francisco. Read on for his top 5 secrets in managing trophy assets. (If you have any problems with this issue, please contact your super.)

1) Constantly work on curb appeal--Not just the street, but lobby and common areas. Paramount recently modernized the lobby and freshened up the rest of 1633 Broadway, Manhattan (above),where its HQ'd. People are spending more time in the office than home, so you want to make sure its safe, secure, and has the amenities they want.

2) Dont forget the back end--Engineering and maintenance upkeep is a must. At Manhattan's historic 745 Fifth (built in 1929), We invested in back-of-the-house technology, and now occupancy rates are in the low 90s. Its home to retail, legal, and financial tenants.

3) Be competitive--Most of Paramounts portfolio has LEED certification, including the LEED-EB Silver 1325 Avenue of the Americas. The entire portfolio also has an Energy Star rating of 78, 20 points above the national average.

4) Avoid complacency--Paramount rotates its propertymanagers to bring a fresh set of eyes to a building. You may manage 1633 Broadway one day, then find yourself at One Market in San Francisco the next, he says.

5) Be part of the community--Paramount has supported charities like Covenant House, Meals on Wheels, and City Harvest, and also hosts food, clothing, blood, book, and school supply drives.

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