ABS Partners e has a formed a joint venture with appraisal firm, R.D. Geronimo Ltd.
The new joint venture, ABS R.D. Geronimo Valuation Services LLC, will combine the Services of both companies.
Richard DiGeronimo, president and founder of R.D. Geronimo LTO, will act as managing partner of the new venture.
The announcement was made by Gregg Schenker, president and co-managing partner at ABS Partners .
“Valuation, advisory and appraisals offer a natural extension of the ABS Partners Real Estate services platform,” said Schenker, who oversees the 100-person strong real estate firm with offices in Manhattan, Brooklyn and Westchester.
“In the past, R.D. Geronimo LTD has worked with both ABS Partners and our capital markets division, ABS-Altman Warwick; we are extremely confident in the high quality of services and attention to detail that Richard and his team bring to this new joint venture. ”
ABS has a successful track record of establishing fruitful joint ventures for service lines, including capital markets advisory platform ABS – Altman Warwick.
On the property development side, ABS has partnered with firms on over $1 billion in assets, including the Hudson Companies’ CorneiiTECH, a 26-story student housing tower on Roosevelt Island, NY, as well as Brause Realty and Gotham Organization for a 272-unit multifamily rental and retail building in Long Island City, NY and RXR for a 28-story, mixed-use property in New Rochelle, NY.
R.D. Geronimo LTD will maintain its corporate office in Mineola, NY and expand into the ABS headquarters at 200 Park Avenue South in New York City.
Separate from this partnership, will remain an independent operation continuing to provide its clients with the same services for which it is known.