WRA Properties, Inc. Introduces WRA-STONE Management, LLC.

WRA-STONE Management, LLC. is a strategic alliance of professional knowledge of

Property Management
Investment Analysis
Brokerage Services

with offices located in Manhattan, the Bronx, Queens, and Westchester.
WRA-STONE aims to provide management services that are efficient and financially sound, caring and attentive to the needs of the owner and the community. This is accomplished by securing and maintaining good tenancy while perserving assets and controlling expenses, a management ethic that translates to a harmonious relationship, not just between manager and owner, but between manager and tenant.
In addition to their management skills, principals Frank Chiarello, Stewart Alpert, Joel Leder and Harvey Wolinetz combine their expertise in sales, leasing, brokerage, rehabilitation and development, co-op conversion and management and all phases of real estate accounting. This combination, including over thirty years of experience in complex negotiation and contract propcedures of HUD and the FHA, places them in the forefront of contemporary real estate management operations.
This newly formed venture manages, maintains and supervises

a mix of mid-sized commercial venues
multifamily residential properties
cooperative apartment buildings
blocks of unsold cooperative shares
residential and office properties across the nation

WRA-STONE has been instrumental in applying its skills to a diversity of complex problems facing the Real Estate industry such as:

curing the gaps in required rent registrations
filing for and collecting previous years' SCRIE's tax abatements
negotiating settlements of rent strikes and HPD actions
removing illegal tenants
collecting refunds for duplicate payments of taxes, other municipal charges, and utility bills
rectifying miscalculated escrow accounts
violation removal

WRA-STONE also specializes in work-outs and turn-arounds of distressed properties held by institutions. Each property benifits from the full, direct involvment and expertise of at least one or more of WRA-STONE's principals. (View our list of current and past Institutional Clients)

Specific Property Management Services

Our property management program is designed to satisfy the needs of each individual client, including institutional, private investors, syndications, co-ops and condominiums. We recognize property owners and co-operatives are in the investment business, not property management. WIth this in mind, we have developed a property management program that removes the burden of day to day property management from the owners and co-operative boards.

The property management services we provide include, but are not limited to, the following:

Financial:

Preparation of annual budgets
Preparation of Monthly Financial Reports
- Summary of receipts and disbursements
- Detail of collections by tenant/owner unit
- Details of cash disbursed
- List of unpaid vendor obligations
- Comparison of budget to actual results
Collect all rent
Review of all vendors invoices for approval prior to payment
Printing and distribution of checks to all vendors
Prepare a long range plan of upcoming expenditures and include them in the budgeting process.

Property Management

All tenant relations
- individual attention for tenants
- responsive to tenants concerns
Periodic inspections of the property
Supervising attorneys on evictions
Billing and collection of rent on applicable units
Hiring all contractors and overseeing all repairs
Prepare and monitor all marketing materials including advertisements
Meet with owners on a periodic basis to review operation
Review and maintain the following files:
- Building files
- Tenant/Unit owners files
- Paid Bills
- Accounts payable
- Insurance files

Property Maintenance:

Provide a well maintained and neat appearing property
Implement preventative maintenance program
Hire and supervise any subcontractors required
Review, approval and distribution of all building employees payroll
Provide supervision of all maintenance work performed on the property as to maintain the professional appearnace of the property.
High quality maintenance with management follow-up
Timely rsponse to maintenance problems by experienced vendors
Provide 24-Hour emergency contact persons, in the event of an emergency affecting the property, and develop and implement an emergency plan for the property
Purchase of building supplies
Obtain any and all contracts:
- Elevator
- Boiler
- Exterminator
- Air Conditioning
- Heating and ventilation systems
Review maintenance expenditures with budgets to provide maxium income for the owner.

WRA-STONE welcomes the opportunity to host inspections of its management properties which best showcase the professionalism and competence of its on-site staffs. Financial reports reflecting the soundness of its holdings are available upon request. WRA-STONE will be pleased to arrange appointments with HUD and lending institutions that will indicate its consistently outstanding ability to manage, protect, and enhance the value of real property assets under its stewardship.

Mix of Mid-sized Commercial Venues

54-74 South St.
Morristown, NY; 52,486 sq.ft.
930 E. Florence Blvd.
Casa Grande, AZ; 9,000 sq.ft.

Multifamily Residential Properties

1899 Belmont Aveue
Bronx, NY; 26 apts
1892 Arthur Avenue
Bronx, NY; 25 apts
1894 Arthur Avenue
Bronx, NY; 26 apts
1898 Belmont Avenue
Bronx, NY; 21 apts
1990 Belmont Avenue
Bronx, NY; 45 apts
1908-10 Belmont Avenue
Bronx, NY; 46 apts
922 Bronx Park South
Bronx, NY; 27 apts
926 Bronx Park South
Bronx, NY; 28 apts
932 Bronx Park South
Bronx, NY; 38 apts
2082 Crotona Pkwy
Bronx, NY; 21 apts
2083 Mohegan Avenue
Bronx, NY; 21 apts
2088 Mohegan Avenue
Bronx, NY; 34 apts
2090 Mohegan Avenue
Bronx, NY; 24 apts
876 East 180th St.
Bronx, NY; 25 apts
2095 Honeywell Avenue
Bronx, NY; 28 tenants; 2 commercial
700 West 176th St,
New York, NY; 67 tenants; 6 commercial
701 West 175th St.
New York, NY; 67 tenants; 6 commercial
331 East 51st St.
New York, NY; 14 apts
203 Berkley Place
Brooklyn, NY; 8 apts

Cooperative Apartment Buildings

68 East Hartsdale Avenue
Hartsdale, NY; 68 apts
253 West 28th St.
New York, NY; 5 apts

Blocks of Unsold Cooperative Shares

20 Wendell Street
Hempstead, NY; 127 apts
50-05 43rd Ave.
Woodside NY; 24 apts
20 East 88th St.
New York, NY; 2 apts
304 East 73rd St.
New York, NY; 19 apts

Residential and Office Properties Across the Nation

One Stone Place
Bronxville, NY; 23,000 sq.ft.
1900 E. Northern Parkway
Baltimore, MD; 29,614 sq.ft.
124367 SW 11th Avenue
Forest Lake, MN; 72 units
302 N 4th St.
Artesia, NM; 44 units
1029 Teaneck Rd.
Teaneck, NJ; 15,800 sq.ft.
2225 West Indian School Rd.
Phoenix, AZ; 116 units
1025 North 48th St.
Phoenix, AZ; 104 units
5000 Marble N.E.
Alberquerque, NM; 42,000 sq.ft.
277 Chapel St.
New Haven, CT; 35 units

For more information about our services please call Frank T. Chiarello at (718)-224-9500 x130 or send us email.

FRANK T. CHIARELLO

Frank T. Chiarello is a licensed real estate broker with a history of successful involvement in the management and brokerage of residential and commercial real estate. Mr. Chiarello has been involved with the acquisition and disposition of over 600 real estate transactions predominantly multi-family residential housing, commercail retail property and performing/non-performing mortgages.

From 1976 through 1982, Mr. Chiarello associated with a Real Estate office in Upper Westchester where he was involved in the purchase and sale of small commercial properties and one family homes.

In 1982, Mr. Chiarello served as a Controller and Director of Acquisitions for a major Westchester realtor specializing in investment properties in New York and the surrounding areas. He attended contract negotiations, title closings, and oversaw and directed legal counsel.

In 1990, Mr. Chiarello was a co-founder of WRA Properties, Inc. As President of the company Mr. Chiarello is responsible for identifying and developing new business, directing the commercial and residential real estate brokerage and valuation divisions and assisting our Bank and Financial Institutional clients in the exclusive disposition and valuation of their commercial, residential and multi-family portfolios. He also assists and directs field property managers in the daily operation of asset management.

Mr. Chiarello is a consultant to a number of Financial Institutions providing expertise in mortgage and real estate valuation. His successful business endeavors are built upon his long term experience and fine-tuned expertise. Mr. Chiarello and holds a B.B.A. in Accounting from Iona College and is a member of the Bronx-Manhattan Board of Realtors and The New York State Commercial Association of Realtors (NYSCAR).

HARVEY D. WOLINETZ

Harvey D. Wolinetz has been a New York State licensed Real Estate Broker for nearly 30 years and has been actively engaged in the real estate business for nearly 35 years.

From 1964 through 1983, he was an active partner in the Bronx Real Estate management firm of Fein Realty Management Corp. and was actively engaged in all phases of management of taxpayers and multi-family apartment buildings in the New York City area.

From 1983 through 1992, Mr. Wolinetz was actively engaged as both an investor and broker in the buying and selling of real estate and during that period developed a portfolio of mortgage receivables. This led to the formation of Harvey Wolinetz Mortgaging Servicing - the predecessor to Park National Mortgage Servicing, which services between 75 and 100 loans for his own account, as well as for third parties.

In 1992, Mr. Wolinetz was a co-founder of Kislev Management Corp. which manages residential co-ops, multi-family rental buildings, taxpayers, shopping centers and office buildings throughout the metropolitan area.

He has been an active purchaser at Resolution Trust Corp. and FDIC auctions and has over 150 properties and mortgage interests across the United States. In addition to Park National Mortgage Servicing. Mr. Wolinetz was a co-founder of Sovereign Servicing, which serves much of this national loan portfolio.

Mr. Wolinetz has been serving on the Rockland County Rent Guidlines Board for 20 years and holds a Master of Science degree in Communications from the Ferkaufe Graduate School of Yeshiva University, and a Bachelors degree in Psychology from Yeshiva College. Current holdings include assets in Arizona, Colorado, Connecticut, Florida, Maryland, Massachusettes, Minnesota, New Hampshire, New Jersey, New Mexico, New York, Oklahoma, Pennsylvania and Texas.

STEWART R. ALPERT

Stewart R. Alpert is an attorney who closed his first federally insured loan with the Department of Housing and Urban Development in 1969. In 1976, as attorney, developer and builder, he concluded one of te first Section 8 substantial rehabilitation projects in the City. The success of that development led to the award of nine other developments to Mr. Alpert totaling more than $90,000,000. These are still under the management of his office.

Mr. Alpert has developed, constructed, owned and managed more than 7,500 residential units in the New York area. Moreover, he has been involved with the development of residential and commercial properties throughout the United States.

Today, Mr. Alpert and his staff manage more than 3,500 residential units. Many of these are subsidized under the Section 8 rental program. The management includes the preparation and filing of tenant certification, HUD financial reports and the implementation of governmental properties and goals. The staff has had more than fifteen years of experience in these programs and thirty years of dealing with HUD and other federal and state agencies.

This experience translates into a harmonious relationship between manager and owner and, as important, between manager and tenant. This latter relationship creates a common effort to resolve the many problems faced by the parties and to generate an understanding heretofore lacking.

Since 1992, Mr. Alpert has been active in purchasing RTC, FDIC and Bank mortgage loans and real estate properties. These assets are located throughout the United States. His office services many of these mortgage loans and through several satellite offices manages both commercial and residential properties from New Hampshire to Arizona.

JOEL J. LEDER

Joel J. Leder has been a licensed Real Estate Broker for the past 10 years. He has brought to that position thirty years of public accounting experience specializing in real estate matters. Since 1979, he has been active in the development and management of Real Estate properties throughout the United States.

He is instrumental in bringing customized computer software to these developments. These innovations have monitored and lowered management costs and expenses translating into greater productivity.

Currently, Mr. Leder is responsible for the management of 2,500 residential units and various commercial properties; in addition he is developing several projects in the New York, Boston, and Baltimore areas.