Langsam Property Services Corp. (Langsam) is a Bronx-based real estate management company formed by Ralph Langsam in 1949. The President and Chief Executive Officer of the company is Mark Engel. Originally formed as Ralph Langsam Associates, Langsam changed its name in 1993 to reflect the retirement of Ralph Langsam several years before.
When Mark Engel joined the organization over 25 years ago, it managed 2,500 housing units. Langsam is now responsible for managing the day-to-day operation of approximately 350 buildings containing over 11,000 dwelling units and 300 commercial units. The buildings are located in the Bronx, Manhattan, Queens, Brooklyn, and lower Westchester County.
Langsam is designated as an Accredited Management Organization (AMO), a standard for excellence in management conferred by the Chicago-based, Institute of Real Estate Management (IREM).
Mr. Engel served the Bronx-Manhattan Association of Realtors (BMAR) as Vice President, Treasurer, and twice as President. He currently serves as Vice President of the Rent Stabilization Association (RSA), a trade association representing 25,000 property owners, and as Vice President of the Bronx Realty Advisory Board, which negotiates industry-wide contracts with building service employees' union Local 32-B/J. He serves as a member of the Board of Advisors for the newsletter "Apartment Law Insider". He is a member of several other organizations that promote legislation favorable to the industry. He is an advisor to the newly formed and exclusive group of owners known as the New York Realty Group. The prestigious group has fewer than twenty members and membership is by invitation only.
Langsam has managed properties for institutions such as Apple Bank for Savings, Northside Savings Bank, Donaldson Lufkin & Jenrette, Emmes Asset Management, Montefiore Hospital Medical Center, the Community Preservation Corporation, and others. Langsam has managed and renovated 1,400 apartments for the City of New York under the Private Ownership and Management Program (POMP). This program reclaimed largely neglected housing, and Langsam received the highest rating ever granted by POMP to a participant in its program.
By using the Community Preservation Corporation, the New York City Department of Housing Preservation and Development's Participation Loan Program and Article VIII-A Loan Program and loans from the Federal Home Loan Corporation, Langsam has completed the moderate rehabilitation of over 100 apartment buildings. Most renovation has been done with tenants in residence and no tenant has been forced to move permanently as a result of these renovations. Each building stands as a "showplace" in its neighborhood.
The company also provides "back office" services for other property managers who want to take advantage of Langsam's purchasing power and expertise in a variety of complex management scenarios. This expertise is increasingly necessary in an ever-changing industry, which is under the authority of many different regulatory agencies.
Langsam is well known in the industry as leaders and innovators. As the Bronx Borough President, Fernando Ferrer publicly stated to a group of Realtors, "You can always tell a Langsam building just by driving by it. It will be the cleanest and nicest building on the block."