ABS Partners Real Estate LLC and appraisal services firm R.D. Geronimo have formed ABS R.D. Geronimo Valuation Services LLC, a joint venture that will offer real estate advisory services, including: valuation and consulting, arbitration/litigation support, fair market value resets, mark-to market-rental studies, highest/best use analysis, expert witness testimony, underlying fee/ground lease valuations, and development modeling, as well as related institutional appraisal services.
Richard DiGeronimo, MAl, SRPA, AI-GRS, president and founder of R.D. Geronimo, will act as managing partner of ABS R.D. Geronimo Valuation Services LLC Joint Venture. Apart from this partnership, R.D. Geronimo will remain an independent operation, maintaining its corporate office in Mineola, New York. It also will expand into ABS’ headquarters at 200 Park Avenue South in New York City.
“Valuation, advisory and appraisals offer a natural extension of the ABS Partners Real Estate services platform,” said Gregg Schenker, ABS president and co-managing partner. “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.”
With the formation of ABS R.D. Geronimo Valuation Services LLC, ABS continues its track record of establishing 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 on more than 10 ground-up development projects.
“Our combined synergies will provide added value and a broader business platform, enabling each entity to both complement and expand the individual and collective footprints under the ABS R.D. Geronimo umbrella,” Geronimo said. “The preference of clients in today’s marketplace is working with a larger and well-established company that offers a full suite of professional real estate services under one platform, which this partnership accomplishes.”