Meryl Sacks, President, Sacks Real Estate Management
Specialists in Luxury Coops and Condos
While there are many property management firms in New York, there is only one Meryl Sacks. In an impressive example of how to start a business, the experienced Ms. Sacks opens Sacks Real Estate Management Corp. as president and founder, with several buildings which have followed her to different firms as clients for close to 30 years.
The buildings include luxury pre-war residential properties, all of which are currently undergoing various types of construction that includes meeting Local Law 11 codes.
Overseeing construction simultaneously on multiple sites while setting up her new business demonstrates the cool, tenacious management style that makes Ms. Sacks a formidable standout in her field – a field known to be dominated by men in leadership roles in property management and construction.
“The way I manage buildings separates me from other property managers,” asserts Sacks. “After 30 years, I have developed my own style of personalized management. New York property management is a special niche. My clients live in luxurious buildings and have high expectations."
As stated by Robert Englander, Board president of one of the Park Avenue co-ops continuing to be managed by Sacks Real Estate Management, “Meryl Sacks has been our co-op’s managing agent for almost 30 years, and is one of the most experienced managers in the industry. We’ve enjoyed working with her on a myriad of capital projects, including the revamping of our electrical system, elevator modernizations, multiple Local Law 11 projects, and many more. We’re lucky to have her.”
As president of the new Sacks Real Estate Management Corp., Sacks focuses on principles she is known for: developing enhanced value; improving quality of life; and instituting safety and security measures for her clientele.
Sacks is starting her own property management firm after several years as Director of Management at another realty company. From 1996 to 2015, she served as the Director of Management at Charles Greenthal. As the Director of Management at Greenthal, she led all aspects of property management, including development of new financial and operating systems, as well as digital solutions.
She started her career in real estate management at M.J. Raynes in 1987, when the company was involved in the height of conversions of over 100 rental buildings to cooperatives and condominiums. At that time, Sacks held management responsibilities for 10 luxury buildings, which moved with her throughout her career. At Sacks Real Estate Management, she continues to manage four buildings which have been on her client list since first working in the field.
“I’m a big communicator and extremely hands-on,” says Sacks. “I like to get my arms around a problem immediately, rather than allowing it to fester into more problematic larger issues.”
She is actively involved in day-to-day operations, staff training, financial analysis, emergency preparedness, implementation of Board policies and procedures, capital improvements, and long-term capital plans.
Sacks emphasizes training for all. “New property managers coming into the field, even at the large companies, sometimes lack training,” she observes. “Building staff, whether on-the-job for 30 years or new, have to be trained and given proper direction to meet ever changing needs for the building and it's residents."
“In my firm, as we grow, I will be handpicking employees who I consider to be the A-team, both in management and accounting.”
Sacks Real Estate Management Corp., is located at 415 Madison Avenue, New York, NY, 10017.