Providing a systematic approach without losing personal service

Real Estate Weekly, March 9, 1994

When Mark Moskowitz became President of The Argo Corporation last year, his challenge was to continue the company's steady expansion, broaden its prime base in residential property management and move into such new areas as office leasing without losing the personal touch of a family-run business.

In fact, what sets Argo apart from many management firms is its ability as a mid-size company to offer a highly efficient, systemized approach to everything from budgeting and central purchasing to emergency procedures.

"Personal service means when you have an emergency in the middle of a holiday weekend, you always will be able to reach someone at Argo - not a machine" says Moskowitz.

"The systematic approach I've brought to Argo means we are dedicated to improving the long-term value of every property we represent," says Moskowitz. "Rental properties require diligent and aggressive management. For example, at lease renewal time, we systematically check every tenant's primary residence. Property values are enhanced by taking advantage of opportunities to increase rental income."

As another example, he cites Argo's central purchasing system. "We don't just give out work. Our purchasing department uses its volume purchasing power to secure lower prices and bids, which are passed through to our clients on items ranging from fuel oil to new roofing. And our controllership function provides the internal controls -- checks and reviews - that ensure that contractors perform the work for which they're submitting invoices."

All of this is consistent with the fact that Argo practiced asset management before it became such a fashionable term.

"We manage every property with an owner's perspective - looking to enhance value, cut unnecessary costs, perform financial analysis and advisory services, use preventive maintenance, contractor oversight and bi-weekly basement-to-rooftop inspections - to ensure that every dollar is efficiently spent," explains Moskowitz, who believes in a thorough, "holistic" approach to real estate management.

What sets Mark Moskowitz apart in the family-oriented world of real estate is that he's devoted his entire adult life to working full-time at Argo, learning every aspect of the business first-hand. While earning an MBA and BA from Columbia, Mark worked in bookkeeping, then moved onto budgeting, property inspections and building management. After graduating business school, Mark then became involved with the overall management of the company.

"It's essential when operating a business like property management to know every aspect of that business," says Moskowitz, adding, "From the experience I've gained working in every department, Argo benefits from the efficiencies realized and our clients, in turn, get better service."

Even as president today, it's not unusual for Moskowitz to get intensely involved in the day-to-day aspects of a particular project, building or department that needs special attention.

It was with that philosophy of personal service and attention to detail that Henry Moskowitz, Mark's father, rounded Argo in 1952 to manage the four family-owned residential buildings on the Upper West Side.

With the senior Moskowitz as the guiding visionary, Mark presides over a portfolio of 5,500 residential units in New York City. Argo's sales division for co-ops and condos is headed by Karen Betman, while the leasing division, headed by Marina Higgins, handles apartment rentals, commercial office and retail leasing brokerage services. Both of these executives have been with Argo for about 18 years.

To enhance Argo's commitment to asset management and strong financial systems, this past year Mark brought in a controller, Mark Kranczer, and Jeffrey Levy as director of management. A veteran property management executive, Levy was hired away from Crossland Savings Bank, and it is this institutional experience that should help expand Argo's portfolio of institutionally-owned properties.

At age :i2, Mark Moskowitz is old enough to have experienced the real estate bear market of the 70s, the roaring 80s and the present down market. He has been part of an Argo team that has survived and thrived through different markets by providing cost effective management without cutting corners. With that mix of experience and energy, he is putting a business strategy in place that will lead his company into the millennium and beyond.