NEW YORK, Sept. 27, 2021 /PRNewswire/ -- A&E Real Estate today announced the launch of 1898, a new in-house leasing company. Named for the year that all five boroughs officially came together to create what we now call the City of New York, 1898 expands A&E's internal capabilities and further enhances its full-service approach to ownership and property management.
The launch of A&E's residential leasing arm follows six months of intensive development and is supported by a dedicated staff. A&E will list and lease all of its available apartments through 1898, which includes apartments in Manhattan, Brooklyn, Queens and the Bronx. In addition to its 1898 leasing platform, A&E will continue to partner with select local neighborhood brokers.
A&E's homes serve an abundance of lifestyles, locations, and priorities, but all reflect the same mission: to provide high-quality homes that enable residents to thrive. With residential buildings located in dozens of neighborhoods, 1898's inventory of available apartments will serve as a showcase for New York City's tremendous diversity of people and places.
"The development and launch of 1898 leverages our well-cultivated market knowledge and in-house expertise to grow the services we provide directly to our residents, both current and future," said James Patchett, CEO of A&E. "Nobody knows the neighborhoods we operate in better than we do, and launching our own leasing operation will give us even better market intelligence, while providing better services in a more cost-efficient way. It's a win-win-win."
In conjunction with the launch of 1898, A&E debuted a new website, 1898leasing.com, designed by New York City branding agency And Partners. The sleek website features a real-time inventory of available apartments along with a number of dynamic tools that allow users to tailor their searches according to their preferences. The website also features six original illustrations by Lucy Truman, including one for each of the four boroughs in A&E's portfolio.
"We are thrilled and appreciative to be a part of 1898's brand and website launch," said David Schimmel, President and Executive Creative Director of And Partners. "And Partners has collaborated with A&E from the very beginning. It is exciting to see how they have grown, and in this next chapter, remain committed to providing all New Yorkers with quality apartments in thriving communities throughout the city."
"At A&E, we believe that actively engaging with our residents and investing in our communities is the key to moving New York City forward. 1898 allows us to take those efforts to another level," said Maggie McCormick, President of A&E.
Founded in 2011 by Douglas Eisenberg, John Arrillaga, Jr., and Wendy Eisenberg, A&E has grown from a single 49-unit building in Fort Greene to more than 15,000 Bronx, Manhattan, Brooklyn and Queens apartments currently under management. A&E has successfully expanded its portfolio in large part through acquisitions of apartment buildings and portfolios from legacy owners who lacked the resources and operations to properly invest in and manage their properties in the 21st century.
In just 10 years of operations, A&E has built a fully integrated real estate platform with in-house asset and property management, leasing and construction capabilities. The firm owns and manages both rent-stabilized and market-rate apartments, with a specific focus on quality workforce housing for teachers, first responders and other essential workers. Its extensive multifamily portfolio ranges from 10-unit rentals in Brooklyn to 1,200-apartment communities in Kew Gardens Hills and Harlem's Riverton Houses.
About A&E Real Estate
A&E Real Estate was founded in 2011 to invest in multifamily properties in the New York City Metropolitan area with a primary focus on workforce housing. With more than 15,000 apartments, A&E performs direct asset management, property management, and construction management for its entire portfolio, with a belief that no third-party manager will bring the same degree of focus and attention to detail.
A&E's commitment to provide a high level of service to its residents reflects the philosophy that both owner and resident have a mutual long-term interest in preserving the city's multifamily residential stock. The residents of A&E's properties comprise the backbone of New York City's economy. Police and fire personnel, train and bus drivers, hospital workers, teachers and banquet managers are all included among the residents of A&E's properties.
SOURCE A&E Real Estate