Asset & Property Management

Craven Management Corporation has the experience and knowledge to efficiently and effectively manage any type of commercial property, from high-rise buildings positioned in the heart of prominent cities to facilities contained in suburban business parks. Our mission is to professionally manage and enhance our clients' properties by focusing on maintaining high levels of occupancy and tenant satisfaction, while lowering property costs. 

Craven Management Corporation assists in achieving the best possible returns for owners and investors, so they are able to compete effectively for investment capital. 

The value Craven brings
  • Our highly professional team of engineers, managers, contractors, lawyers, accountants, and financial analysts work together to insure the upkeep of our clients’ buildings operation and leasing at standards above the market 

  • The Craven Corporate Culture encourages personal initiative, responsibility and the acceptance of the fact that our relationship with our clients is our most important asset 

  • We are fully aware of the demands and risks of owning a real estate asset. Each member of our staff is trained to alleviate risks and reduce operating expenses 

  • We consider ourselves the first line of defense 

  • We protect our clients’ money as if it were our own

  • No distraction from brokerage- we only manage.

 

Building Development and Infrastructure Projects


 


100 Broadway, New York, NY  

 

This century-old 400,000 square foot landmark commercial office building was completely vacated. As part of our due diligence process, Craven Corporation analyzed the feasibility of a residential or hotel conversion. Upon completion of our study the recommendation we made to the ownership was to replace the infrastructure and retain the property as a commercial building. The building selected Craven Corporation to serve as their project manager and a $15 million capital works program was successfully completed. Major tenant installations include:
  • Parsons           (48,000 sq. ft.)
  • Buro Happold   (54,000 sq. ft.)
  • Duane Reade   (20,000 sq. ft.)
  • TD Ameritrade  (10,000 sq. ft.)
  • Port Autohority  (54,000 sq. ft.)



 


150 East 42nd Street, New York, NY  

 

The “Mobil Building”, originally constructed in the 1950’s as the Mobil Oil Corporation Headquarters was purchased in the late 1980’s by Hiro Real Estate Co. This 1.6 million square foot sleeping giant slowly dwindled in occupancy to a low of less than 30% prior to Craven’s involvement. Consequently the building fell into disrepair and became technically obsolete. The ownership, recognizing an upturn in the real estate market, was anxious to reposition the building. They hired Craven as Owner’s representative to oversee an extensive building infrastructure upgrade and the anticipated tenant work as well as the day-to-day property management. The $25 million capital works program was completed on schedule and within budget. Craven assisted with the marketing of the building, establishing building construction standards and assisted with lease negotiations and owner obligations. This building was successfully leased within a twelve-month period. Craven assumed responsibility for the preparation of all tenant floors on behalf of the owner and reviewed and supervised all tenant build-outs. Major tenant installations include:

  • Pfizer Inc. (700,000 sq. ft.)
  • Meredith Corporation (170,000 sq. ft.)
  • BV Bank (120,000 sq. ft.)



 


650 Madison Avenue, New York, NY  

 

650 Madison Avenue is a 27-story, 600,000 square foot building located in Midtown Manhattan. Despite its Class A location the building had been neglected and had an occupancy level of less than 40% prior to our involvement. Craven was hired as Owner’s representative to oversee the building infrastructure upgrade, the tenant work and the day-to-day management. A $10 million capital works program was planned and completed on schedule and within budget. Craven assisted the Owner in lease reviews and negotiations as well as the tenant construction. Within one year, the balance of the building was leased. Major tenant installations include:

  • Polo Ralph Lauren (200,000 sq. ft.)
  • Columbia-Presbyterian Health Systems, Inc.(86,000 sq. ft.)
  • Monitor Company Inc. (30,000 sq. ft.)
  • Ryan Beck & Co., Inc. (30,000 sq. ft.)
  • Schonfeld Securities, Inc. (25,000 sq. ft.)
  • SFX (25,000 sq ft)
  • Dreamworks LLC (15,000 sq. ft.)



 


617 West 7th Street, Los Angeles, CA  

 

The former Union Oil Building in Downtown Los Angeles was purchased by Hiro Real Estate Co. in the late 1980’s. Like many Downtown commercial office buildings, it fell victim to the downturn in the economy and the state of the commercial real estate market in Downtown Los Angeles. Hiro Real Estate Co. made the decision to retain Craven to reposition this property to feature a mixture of telecommunications space in the basement, ground and 2nd floors, and the balance to be developed as creative office space. Craven completed the renovation of the building’s state-of-the-art mechanical, electrical and telecommunications systems and multiple tenant fit-outs, on schedule and without cost overruns.


 
Building Management

·    20 North Clark, Chicago, IL ·         866 Second Avenue, NY, NY (a commercial condominium)
·    Lewis Tower, 225 South 15th Street, Philadelphia, PA  ·         151 William Street NY, NY
·   The Architects Building, 117 South 17th Street, Philadelphia, PA ·         130 William Street NY, NY
·   The Goldtex Building, 315 North 12th Street, Philadelphia, PA ·         83 Maiden Lane NY, NY
·   1309 Noble Street, Philadelphia, PA ·         59 John Street, NY, NY
·   The Greengate Mall, Pittsburgh, PA ·         150 Grand Street, White Plains, NY
·   61 West 23rd Street, NY, NY ·         150 East 42nd Street, NY, NY
·   11 West 19th Street, NY, NY ·         650 Madison Avenue, NY, NY
·   The Apple Bank Building, 1075 Central Park Avenue, Scarsdale, NY ·         100 Broadway, NY, NY
·    250 Fulton Avenue, Hempstead, NY  ·         655 5th Avenue, NY,NY
·     617 West 17th Street, Los Angeles, CA ·        211 East 43rd Street, NY, NY