125 years of residential real estate - professional profile of William B. May Co - Company Profile

Real Estate Weekly, March 11, 1992 by Therese Fitzgerald

With five different offices, Marra said, the firm can offer a suburban residence or a number of urban possibilities, including a Brownstone in Park Slope, a Manhattan high-rise or the convenience of Brooklyn Heights for the Wall Street crowd.

"If we only had an office Uptown, I don't think our relocation division would be as successful as it is," he said.

The firm recently changed locations in Greenwich Village from 33 Cornelia Street to 529 Hudson Street where they took 50 percent more space and brought on additional brokers.

"The West Village is, in fact, a very lively area Downtown and the West Village is an attractive area in general," said Marra.

While condo sales have lost much of their favor with domestic and foreign investors, the May Company is confident of their continuing appeal to some buyers. They have grouped six or eight knowledgeable brokers into a cohesive team to market them exclusively.

In a condominium, Marra said, there is more privacy and a person is saved the grueling board approval process. Condo buildings, he said, also tend to be the newer buildings affording such luxuries as swimming pools, health clubs, and garages.

"I still think condos are a vehicle people want," he said, "and there are certainly a lot of them."

The firm has also beefed up its intrareferral system so that they may make their sales people and buyers aware of all the available options. In doing so, May said, they have "tripled" their efficiency.

The firm also manages investor portfolios for market-rate residential buildings.

Maintaining Price and Quality

The fourth generation May, Billy, handles the management aspect, is adept at the structural and operational needs of a building. He joined the firm 10 years ago and left in the mid-80's to do real estate in other parts of the country. He built houses as a general contractor and he managed property in North Carolina and in Los Angeles.

"No body is going to pull the wool over my eyes about what has to be done in a building," he said.

The young May said there is somewhat of a price war going on in the management field among some companies who are offering low-priced services to dollar-minded buildings. What they are actually getting, he said, are cut-rate services. The May Company, he said, has opted not to lower its prices or its standards.