Parkway Village Case Study

Precision Management Group Revitalizes Parkway Village

Precision Management Group’s revitalization of Parkway Village in Queens, New York, is a perfect example of what makes Precision’s property management programs so effective. When Precision was chosen by Parkway Village,  the 700-unit cooperative was suffering from physical disrepair. In less than a year, Precision’s initiatives revitalized the property, making needed repairs, introducing maintenance programs, reducing costs, and improving the quality of life for it residents.

Making Improvements to Parkway Village –
One Step at a Time

  • Precision revamped the entire heating system by engineering a computerized 12 zone system from the antiquated manual 4 zone system. This led to an annual, realized savings of approximately $400,000 in fuel consumption.
  • Precision negotiated with a new gas distribution source that reduced the cooperative’s gas costs by nearly $200,000 per year.
  • Precision saved the co-op nearly $80,000 by purchasing a backhoe and utilizing experienced in-house staff to repair leaking underground steam pipes rather than outsourcing the repairs.
  • Precision has improved the residents’ quality of life, by eliminating banging of clogged heating pipes and providing unified heat to all residents.
  • Precision trained and used in-house staff to fix over 50 roof leaks by simply cleaning all drains and gutters in all 109 buildings, preventing future emergency roof repairs.
  • After purchasing a jeep and plow, staff was able to handle snow removal in-house. In the first year alone, the co-op saved four times the cost of the equipment. In the years following, thousands of dollars have been saved by not outsourcing this service.
  • The staff was trained to do most plumbing repairs saving the cooperative nearly $50,000 in less than one year.

Before Precision assumed responsibility for Parkway Village, three other management companies, within the past five years, had not addressed the financial, mechanical and quality of life issues which plagued this village. “Thanks to Precision’s property management expertise, Parkway Village is once again regarded as a landmark, luxury garden apartment complex” said board treasurer James Poit. This effort was recognized by the Cooperator which provided Precision with the Management Company of the Year Award.

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