reliance realty

Case Study

Transform Your Building into a High-Value Asset

Since the enactment of the Housing Stability and Tenant Protection Act of 2019, many NYC landlords have faced steep challenges navigating the transformed rent stabilization landscape and declining property values. While selling may seem like the easiest way out, partnering with Reliance Realty often yields far greater long-term rewards.

Our expert, hands-on management approach is designed to unlock hidden value, stabilize operations, and dramatically improve your building’s performance. Whether you’re looking to hold and maximize cash flow or prepare for a profitable future sale, we’ll help you achieve your goals.

Turning Around a Troubled Portfolio

The Challenge:
In April 2025, Reliance Realty assumed management of a distressed 5-building, 139-unit portfolio in Washington Heights. The properties had over 500 violations and were on the brink of being placed into HPD’s Alternative Enforcement Program—a move that would have triggered steep penalties unless all violations were urgently resolved.

The situation was further complicated by:

  • An active tenant association represented by legal counsel
  • Widespread nonpayment of rent and pending housing court actions
  • $15,000/month in rent reduction orders, significantly constraining cash flow

Our Solution:
We acted swiftly and strategically:

  • Collaborated with residents to resolve issues and build trust
  • Cured all violations, restoring regulatory compliance
  • Eliminated rent reduction orders—injecting $15,000/month back into the property’s income
  • Negotiated stipulations with tenants and coordinated with government agencies to recover back rent
  • Used agency funding to cover most of the repair and compliance costs

The Result:
Today, the portfolio is financially stable, code-compliant, and generating strong returns. What was once a high-risk liability is now a thriving investment.

Your Building Can Be Next

Let Reliance Realty design a tailored plan to stabilize and enhance your property. Whether you’re facing operational challenges or looking to maximize long-term value, we deliver results that speak for themselves.

Contact us today to start the transformation.

our team

our team

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Brian Newman

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Danny Newman

Meet Danny Newman – Property Management Associate After two summers interning with Reliance Realty, I’m proud to officially join the team full-time. I graduated from Penn State University in May 2025 and already feel right at home here. My time as an intern gave me hands-on experience in the day-to-day operations of property management and taught me the importance of being reliable, responsive, and clear in communication. Now in my full-time role, I’m committed to delivering the same high standards that define Reliance Realty. I take pride in being someone both tenants and property owners can depend on, and I’m excited to keep learning and contributing as part of a team that prioritizes strong relationships and quality service.
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Josh Erdman

Josh moved to New York City in 1998 and has spent the past eight years helping clients buy, sell, and rent homes across the city. Originally from Atlanta, he blends Southern charm with deep local expertise—especially when navigating the complexities of co-op and condo boards—to match clients with homes that fit their budget and lifestyle. With international experience in NYC and Hong Kong and a background as a pastry chef, Josh brings exceptional service, meticulous attention to detail, and hard work to every transaction. Trust him to find your next home—and the best bakery nearby. Josh Erdman Licensed Real Estate Salesperson Reliance Realty LLC 579 5th Avenue, FL 2 New York, NY 10017 jerdman@reliance.nyc Cell (917) 848-3454
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Amanda Schmieder

Amanda Schmieder Cummings is from Atlanta and has enjoyed living in NYC for 21 years. She moved here after earning an M.F.A. in Acting from UC-Irvine and brings that commanding stage presence to the city streets. Amanda's strength when navigating the New York Real Estate Market is her straightforward, down-to-earth approach to dealing with others. She is extremely hardworking and devoted to her clients. Having spent over half of her life in the customer service industry she prides herself on finding the client exactly what they need.
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Chuck Newman

Real Estate Specialist | Reliance Realty Chuck Newman has been a key part of Reliance Realty since 2012, known for delivering strong results across New York City's complex rental market. With over a decade of experience, he specializes in maximizing rental income for landlords through unit conversions, value-add renovations, and innovative leasing strategies. Chuck began his career managing a 300-unit doorman building in Turtle Bay, where he led successful unit reconfigurations that dramatically boosted rents and reduced vacancies. He later scaled this strategy across rent-stabilized portfolios in Upper Manhattan, the Bronx, and Queens—consistently increasing NOI and outperforming projections for major landlords and developers. As a recognized expert in housing voucher programs, Chuck has helped landlords navigate policy shifts and pandemic-era challenges by leveraging programs like CityFHEPS and Section 8. His relationships with caseworkers, housing officials, and city agencies—including direct access to the NYC Mayor’s Office—enable faster approvals and higher returns for owners. Expertise Includes:
  •  Housing Voucher Strategy: End-to-end support for Section 8 and CityFHEPS placements
  • Portfolio Repositioning: Unit conversions, rent roll improvement, and vacancy reduction
  • Value-Add Renovations: From single units to large-scale, multi-unit renovations
  • Strategic Asset Planning: Ideal for owners refinancing, selling, or stabilizing properties
From high-end buildings in Midtown to workforce housing near major institutions like Columbia and Mount Sinai, Chuck brings the insight, network, and execution needed to unlock hidden value—regardless of market conditions.