The Nine Island Avenue condo board Wednesday night voted to negotiate with KW Property Management as its new management company.
The decision came on a 3-2 vote. All board members said either of two firms, KW and CSI Management Services, would be acceptable choices. The new company will replace the Continental Group, which has managed the building for 12 years. On cost, KW’s proposal was $69,000 less, board members said, but the actual costs and details of the agreement must be worked out during negotiations.
Here’s the live blog of the board discussion.
Meeting called to order at 7:38 p.m.
During the last month, four management companies described their companies and how they would manage Nine Island, a 30-yearold condo on Belle Isle. Atlantic and Pacific Companies and CSI Management Services gave their proposals on May 6, and you can read the account of those proposals here. On April 22, unit owners heard from KW Property Management and the longtime management firm the new board decided to jettison, the Continental Group. Summaries of their presentations are here.
Board member Mora Israel said she thought KW and CSI “are the way to go….However it goes, I will be happy either way.” She said she spent Mother’s Day looking at buildings.
She said after the presentation from CSI, she heard from residents and felt she thought it was the right choice. She visited Anchor Bay, a building nearly the same age as Nine Island in Hallandale. “Lovely,” she said. Outsourced valet and security, otherwise CSI employees.
She said Anchor Bay is probably 50 percent rentals, with lots of snowbirds. It was very clean, she said. It did not have a pool deck built over its parking garage, as Nine Island does.
Then she went to 1000 Island Boulevard at Williams Island. “Lovely.” She said there was construction outside near the pool deck. The pool was on top of a covered garage. She heard good feedback from residents.
Israel said, “I am going to vote for KW…but I would be very happy if the board votes for CSI.”
Blanka Rosenstiel said she visited a KW building and today visited two more buildings. “I would vote for CSI. I don’t want to upset anyone on the board, that is what I feel. She cited “more elegance.”
Michel Wehe said regardless of the choice, Nine Island will be better off. He said he visited over 20 buildings and “it came down to who is just a little bit better.” He said CSI “made a great presentation….but I didn’t want to have stars in my eyes.” In the final analysis, he said, “I started leaning toward KW.”
Israel said “we got the numbers in yesterday and they were so close….” She said KW was the lowest, followed by A&P and then CSI, but all very close in price. Stokols later said that A & P didn’t appear to include valet service costs in its cost figures.
Stokols said Nine Island is a great building, but could be greatly improved. He said all the companies will say what people want to hear, but the board needs to decide which is the best fit.
“The sales pitch creates certain expectations…..in determining the best fit, several elements are key factors.” He cited fit with age, construction project experience, number of comparable buildings managed, solid management, balancing finite resources, and cost.
He said the difference between KW and CSI in price was $60-70,000.
“I want to live in a greatly improved Nine Island and in that vein would pick KW,” Stokols said.
Boris Klopukh said he was “looking at the companies as well as the numbers.” He said he also narrowed the choice down to KW and CSI. He also said either KW or CSI would be satisfactory to him.
He said KW emphasized its accounting services, but Nine Island isn’t a building with accounting issues. He said he believes the issues Nine Island faces are with the condition of building.
He said what he liked about CSI was “that sort of extra five-star service.”
They all send proposals, he said. The difference in cost was $69,000 — but CSI had two more people working in the building. If you subtract the employees, the prices are basically the same.
He said he liked the fact that CSI has a couple of engineers on its staff, which would help with the construction projects Nine Island faces.
He said CSI started as a services company and KW started as a financial management company, and the CSI approach would have a great impact on the quality in Nine Island.
Stokols said no matter who the board picks, there has to be a satisfactory negotiation. He said both keep the bookkeeper on the premises.
The board voted 3-2 for KW. Stokols, Wehe and Israel vogted for KW. Klopukh and Rosenstiel voted for CSI.