In an industry that has not seen significant change in a number of years, Jason Horowytz, co-founder and managing partner of Monarch Realty Group, is pioneering the transformation of an antiquated field, bringing much-needed reform to property management and development, especially in the Manhattan and Brooklyn landscapes. As the managing partner of Monarch Realty Group, one of the fastest-growing management companies in New York City, he’s still expanding and refining his vision, and doing it amid a global pandemic.
Jason’s admirable career in real estate started in commercial lending, with leadership roles in several prominent financial institutions, such as JPMorgan Chase, Capital One, and Santander Bank. By 2019, he had involvement in more than 100 new development projects and opened almost half as many buildings, which gave him the experience and confidence to reposition himself as a leader of a new company. That same year, he co-founded Monarch Realty Group with the goal of becoming a full-service property management company, specializing in new construction, condos, rentals, and co-op management. Under the direction of Jason and his partner, John Ricco, the firm has flourished despite its debut coinciding with one of the most challenging times in modern history—a global pandemic. In just its first year, Monarch has surpassed all expectations by exceeding revenue forecasts, growing their staff sixfold, and establishing a significant network of both partners and clients, including some of the most prestigious developers in the industry, which they’re proud to represent. Even more impressive are the projections for the next 12 months, which estimate that their number of clients will double, revenues will triple, and projects will increase dramatically from the 14 developments now underway.
We sat down with Jason to learn more about his thriving company, plans, and ventures.
What led you to start your own company?
When I was in commercial banking, I specialized in real estate-focused portfolios. During my career, I have personally owned and was involved in nearly a dozen projects, and I noticed a tremendous gap between what my expectations were and what reality was in the property management industry. From my years of experience, I realized there was a large, unmet need in the market. Even though property management was a real challenge for developers, no one was making them a top priority. I knew that I could disrupt the entire property management industry by providing that service, so my partner and I decided to name the company Monarch to signify the level of service we expect to deliver and our ability to adapt. My goal was to deliver a service that had never been provided before as well as a new, client-focused brand.
Tell us more about Monarch Realty and what sets it apart from other property management firms.
The company was founded with one mission in mind: To center everything we do around our clients and our staff—from the service we deliver to the way we take care of our team. Instead of focusing on the immediate ability to monetize, we place value on the long-term relationships we build. Another way we differentiate ourselves is by adding value in new construction development. I work closely with developers and their extended network from day one throughout the entire process, where we consult and provide a number of items, including projections of operating expenses, staffing costs, tax projections, marketing strategies, and nontraditional, value-add strategies for construction to enhance efficiency and save money for owners. We then ensure all goals are met in support of the owner’s financial strategy and operating the building while maintaining an eye on the projected costs, which benefits the residents of the building as well. In addition to the financial components, we also work with architects on the layouts and efficiencies of the buildings.
So, you provide building staffing as well?
Yes, since we primarily work with new developments, condos, and rentals throughout the Greater NYC area, being able to provide building staff enhances our ability to provide the level of expectations that we desire and the brand that we’re looking to deliver. Whereas most management companies typically provide service via phone or email, it’s our providing additional boots and eyes on the ground on a daily basis that allows us to provide the superior service that we strive to deliver constantly. Our portfolio ranges from a 10-unit boutique building up to 200-unit residential apartment buildings. We have the ability to customize our staff based on the building needs. Although having a mutually aligned service is uncommon in this arena, it is much more efficient for our clients, who enjoy not having to deal with two competing businesses.
What specific staffing services do you offer?
We basically act as a one-stop staffing shop that handles everything: supers/resident managers, handymen, porters, janitors, concierge, door persons/security guards, and more. Since we have a tremendous network and database, most everything is kept in-house, which reduces the operating costs for our owners. I always make sure to familiarize my staff with the advantages and disadvantages of each building so that they can anticipate any challenges and customize our staff based on the individual skill sets of our employees and the needs of the building.
What are your other responsibilities as managing partner?
My responsibilities vary from day-to-day, but I mainly oversee our properties to ensure the management teams are performing in accordance with our high standards. I also serve as a direct contact to the numerous developers we work with and provide them with information and strategies related to tax, utility, and labor costs, budgeting, and the sourcing of construction or permanent debt.
What drives you every day?
There are a number of things. I consider myself to be a very self-motivated person. My family instilled in me many things, among which were integrity and purpose—making sure that the reasons WHY I do my job remain more important than WHAT I do. I also receive unwavering support from my Monarch Realty family. For example our senior management team has assumed a lot of responsibility, which has allowed me to strategize and expand our overall growth by focusing on our brand and enhancing it in ways that I’d never expected. . My partner, John Ricco, has been especially instrumental in my life over the past year, guiding and mentoring me and ensuring Monarch Realty is poised for the growth we expect to achieve. Being able to deliver something that has not been seen in this industry motivates me to continue to redefine the scope of the property management.
One of your core values is to align the betterment of people’s lives with your services. Why is this important to you, and how does this synergy benefit both employees and clients?
One of the main reasons I started Monarch Realty is because I realized over my career that most companies failed to invest in ensuring a happy workplace and care for their employees, which we have found improves the service that companies can provide. Although I felt disheartened at the time, those experiences equipped me to develop an effective team approach and to understand the importance of doing right by my employees, the company, and our clients. As a result, I take pride in offering employment opportunities that will enhance people’s lives during these difficult times. Despite COVID-19, our company has continued to grow month over month, and we continue to grow or management and staffing portfolio as well. Another reason we work directly with our building staff is it helps us recognize their hard work and have a direct impact on how they provide for their families. We feel that this is the best way to maintain a loyal working environment, which helps to retain our staff over the long term—ultimately bettering the service we provide and ensuring that we deliver top-notch quality and superior client satisfaction.
Cofounder and Managing Partner
Monarch Realty Group
19 West 34th St., New York, NY