For more than 150 years, Brown Harris Stevens has managed many of New York City’s premier residential buildings—some for more than half a century. That kind of legacy is built on a simple but powerful foundation: client loyalty earned through unmatched service, collaboration, and trust.
“Keep in mind, for all the buildings we manage, we are not the owners, and when you’re stepping into someone else’s shoes, you’re extra cautious,” said Alan Kersner, Chief Operating Officer and Chief Financial Officer of Brown Harris Stevens Property Management (BHSPM). “It’s all about transparency and trust.”
That philosophy s especially crucial when it comes to managing client finances. Residential properties have diverse and complex needs that require a financial services partner with real estate expertise. For BHSPM, the right partner was clear: J.P. Morgan.
Why the Right Banking Partner Matters
Property management is a transaction-intensive business. Each building typically has multiple accounts for operations, reserves, and payroll, all of which require precision, security, and speed. As Kersner explained:
“We need to be with a bank that has a strong balance sheet, is highly rated, with superior technology and that’s financially strong.”
J.P. Morgan’s dedicated real estate banking team provides tailored solutions that address these needs directly from accelerating account openings for new properties to streamlining payment cycles and offering fraud protection. For residents and boards, this means confidence that their funds are safeguarded and their obligations are met on time.
“We need people to know their money’s going to be safe,” Kersner said. “J.P. Morgan offers products that allow people living in these buildings to know their mortgages are being paid, their maintenance funds are safe and their building service employees are being paid in a timely manner.”
A Property Management Model with an Owner's Mindset
At BHSPM, personalized service is non-negotiable. Each property is assigned two managers: one focused on day-to-day operations and one on long-term strategy. This dual approach allows the company to navigate New York’s complex regulatory environment while ensuring clients receive the highest standard of care.
“We’re not looking to be the manager of every residential apartment building—that’s not where our strong point is,” Kersner noted. “We feel it would dilute the way we service buildings and our ability to maximize the value of the apartments and properties.”
This commitment to individualized service mirrors the approach J.P. Morgan takes in its partnership with BHSPM: offering dedicated support, industry-specific expertise, and financial products that match the unique demands of third-party property management.
With J.P. Morgan’s specialized real estate banking solutions and BHSPM’s long-standing reputation for trusted management, the partnership is positioned to deliver lasting value to New York’s most prestigious residential communities.
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