Value by Design
Real Estate Innovators
Since 1997, Comprehensive Management has built and managed high-quality, multifamily communities. We are both creative and focused.
And we’re proud of what we do.
Comprehensive was founded in 1997 to manage a portfolio of buildings in Manhattan. Building on the legal and architectural knowledge of its staff, Comprehensive repositioned many of these assets. As part of this endeavor, Comprehensive renovated hundreds of apartments and safely upgraded building systems while tenants remained in occupancy.
In 2006, Comprehensive embarked on its first development projects. These included the gut renovation of a rental building on the Upper East Side of Manhattan and the total rehabilitation and conversion to condominiums of two landmark buildings in Hamilton Heights. Despite a very difficult market caused by the Great Recession, both of these projects were successful. During this time, Comprehensive also established an in-house brokerage firm to decrease the cost of renting to prospective residents. This strategy helped ownership keep occupancy levels and rents at acceptable levels.
In 2015, sensing Austin’s emergence, Comprehensive purchased a student housing project in West Campus near the University of Texas (“UT”). Working with local management, Comprehensive upgraded the asset by adding an Amazon package facility and free Wi-Fi. Additionally, Comprehensive reconfigured bedrooms into shared spaces so more students would be able to live in high quality housing close to UT at a reasonable cost. Comprehensive also partnered with a digital marketing company to develop a website for the asset and to utilize digital strategies for leasing.
Faced with the downturn caused by the pandemic in 2020, Comprehensive partnered with residential and commercial brokerages to design an innovative and effective rental program. And capitalizing on its stellar reputation, Comprehensive negotiated forbearance agreements with lenders. We also worked with retailers to craft mutually beneficial payment arrangements.
Featured project:
Austin
In 2019, Comprehensive learned that zoning incentives offered by the City of Austin for the area known as West Campus applied not only to student housing, but could also be incorporated in the design of multifamily buildings. Moreover, because West Campus is also close to the Central Business District (the “CBD”), Comprehensive designed apartments that capitalized on the available zoning density. These apartments appeal to professionals who wish to save money while living in close proximity to the CBD. Comprehensive was the first developer to employ this multifamily strategy.
Meet Our Principal
Jacob Frumkin
Jacob Frumkin was born and raised in Washington, DC. He graduated from Washington University in St. Louis where he majored in architecture. Jacob was admitted to the New York State Bar in 1996, and he remains licensed to practice law in New York State. Prior to turning to real estate development, Jacob taught law school and cofounded a small real estate practice, Berman & Frumkin. He currently operates a Manhattan and Austin based real estate portfolio in which he holds an equity interest. He has developed condominiums and multifamily buildings in Manhattan and has worked on numerous development projects in Manhattan, Brooklyn, the Bronx, and Austin. Jacob’s architectural and legal background enables him to maximize zoning opportunities, navigate highly regulated environments, and collaborate with award-winning design professionals.
Our Services
Our development projects are initially conceptualized by analyzing demographic trends and by seeking out zoning opportunities. Once a site has been identified, we invest heavily in design and incorporate appropriate technology to increase yield. Importantly, we are active in only two markets — New York City and Austin. This allows us to employ our broad, real world experience in the two markets that we serve.
As managers, we’ve helped owners build value. For example, we spearheaded the redesign of the standard studio in our Manhattan portfolio, including the incorporation of robotic furniture. We redesigned entire buildings, supervised numerous gut renovations, and managed the rezoning of underutilized commercial space.
Partner with
Experience
Please fill out the form below if you would like to learn more about us, or are interested in investing in an upcoming project.
