ProudLiving Companies is a vertically integrated owner and manager of real estate. Focused on multifamily and mixed-use real estate in New Jersey, we seek to acquire deep value real estate assets and dramatically improve them.
It is our strong belief that executing all parts of the real estate process, from acquisition to renovation to leasing, is an essential ingredient for success in urban housing markets. Through our wholly-owned subsidiaries, we perform all renovations and enhancements, deliver strong ongoing management and attract qualified tenants.
8 years in business, we currently own and manage more than 600+ apartment units, and are always seeking attractive acquisition opportunities. We distinguish ourselves from other real estate investor companies by taking on previously neglected real estate assets and developing their full potential. The cities we operate intend to be undergoing their own individual revitalizations, and we aim to be a proactive partner with the communities in which we operate.
Purchasing properties in various stages of neglect is a core focus of our value-add real estate strategy. ProudLiving Construction manages and executes a wide array of infrastructure upgrades, common area improvements, and apartment renovations.
A licensed construction company in New Jersey, our hands-on approach is crucial to ensuring we achieve quality, timely and cost-effective execution across all of our projects. Having renovated 400+ apartment units, including gut renovations, upgrades and ongoing maintenance, we pride ourselves on revitalizing the real estate assets we purchase, with a long-term focus in mind.
The past decade has seen New York City become a luxury product, with the most expensive apartments approaching $10,000 per square foot, a previously incomprehensible price point. These dramatic increases in property prices similarly impact rentals, making New York City living a far more challenging reality for most people. The rise of markets such as Hoboken, Brooklyn Heights, and Harlem, have been similarly spectacular.
There are no marginal parts of Manhattan any longer, and high-end surrounding markets like Hoboken and many parts of Brooklyn have rents, and properties, comparable to New York City. Secondary markets in Brooklyn have been on the rise in the past few years, as well as Long Island City in Queens, and incredible growth in Flushing, Queens.
The New Jersey real estate markets, in which ProudLiving operates, are experiencing many of the early growth signs seen in these previously underdeveloped areas.
A strong community of tenants is core to being able to deliver a quality housing experience. ProudLiving Companies places all of its tenants into its properties through its wholly-owned subsidiary, ProudLiving Realty. Our onsite property managers seek to develop substantive relationships with all of our tenants, and we ensure that everyone is able to enjoy their living environment to the utmost.
ProudLiving Realty’s Rent-To-Own Program is available to qualifying tenants. If interested, a significant portion of the rent paid by a given tenant can be accumulated towards a down payment to be used towards the purchase of a single to 4-family home. Assisting our tenants on the path to home ownership is something we are proud to offer, when appropriate. Working with our tenants, we can counsel them on the requirements of becoming a landlord, assist with the ongoing management of the property, and help them own their first home rather than merely paying rent.