|
Robb Pair moved to New York from Richmond, Virginia, in 1998. He eagerly acquired
the quintessential midtown condo with views of the city. That was exciting and new
for a few months but when it became time to start a family, Robb and his wife Nidhi
agreed the big building experience didn’t feel like a home. While training for the
New York Marathon, Robb decided to run through every neighborhood from Bay Ridge
to Inwood in search for the perfect spot. Exiting Central park at 110th Street one
day, he fell in love with the location, history and architecture of Harlem. His
passion for Harlem townhouses was so strong that he decided to make a new career
of them. He sent a case of wine to his wife Nidhi from Harlem Lofts Inc. When the
gift arrived, she asked “who is Harlem lofts Inc?” Robb replied, “That’s my new
company, I’m going to acquire my New York Contractors license, hire a construction
crew, move to Harlem and start renovating a brownstone in which to raise our family.
This sales pitch to his wife didn’t go as smoothly as he had hoped but after a few
trips to Harlem she became a believer as well.
A year later Robb found himself still looking for their townhouses full-time as
it wasn’t the normal search he was accustomed to as a broker in other states. While
Robb was a seasoned 20 year real estate investor, his Harlem searches proved the
most difficult. But by December 2002 he found a home, resolved the paperwork issues,
and with his newly formed construction crew, Harlem Lofts Construction, started
renovating his first project. The focus was to restore, but never replicate the
historic detail, materials, and character of Harlem townhouses, while introducing
loft style living spaces. Robb achieved this by implementing flexible open layouts,
high ceilings and movable partitions. 11 townhouses later this original idea expanded
to include Excavating Cellars and HL Green Roofs, innovative techniques for extending
living spaces outside.
In 2002, no Harlem real estate firms were members of The National Association of
Realtors or The Real Estate Board of New York. Harlem was a market where brokers
didn’t work for buyers or even work with each other - it was like the Wild West
as there seemed to be no established rules. The larger firms kept announcing they
were opening offices but they didn’t for another 5 years.
The 1997 HUD scandal created an inventory of over 200 townhouses that were going
through bankruptcy. By 1999/2000, there were people offering to sell properties
that they didn’t own. They weren’t just flipping houses, they were flipping contracts.
It was an unheard of practice anywhere else. It seemed that anyone offering to sell
real estate in Harlem acted as if they represented these homes when in fact no one
had signed contracts to do so. It was treacherous ground for home buyers and no
one was positioned to represent them. When Robb realized this obvious business opportunity
in 2003, he established Harlem Lofts Brokerage Inc. HL Inc became the first agency
in Harlem to join The National Association of REALTORS, The Manhattan Association
of REALTORS, The New York State Association of REALTORS, and The Real Estate Board
of New York, organizations that mandate Co-Brokerage agreements and a strict Code
of Ethics.
Harlem Lofts Inc quickly gained the support of several international investor groups
that recognized the opportunity to add Harlem Properties to their growing real estate
portfolio. Their goal was to have a single company handle the acquisition, renovation
and management of their rental portfolios. A perfect match, Harlem Lofts added a
Property Manager, Bookkeeper, and maintenance lead to their staff and the Property
Management Division emerged. Within the first year, HL Inc acquired 50 new units
for this division. To this day, HL Inc continuous to manage the majority of those
units, with the exception of buildings the sales division sold for investors. Frequently,
owners who purchase units through Harlem Lofts Brokerage Inc recognize the value
and convenience of Harlem Lofts Property Management and opt to maintain those services.
|