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NEW YORK CITY-Co-op boards in two Manhattan luxury buildings have selected Rose Associates Inc. as managing agent. “Both of the buildings had been with prior agents for a long period of time and we consider it very complimentary that the boards have selected Rose Associates,” says Paul J. Herman, a managing director with Rose.

One Fifth Avenue, a 189-unit Art Deco building originally constructed in 1927, was converted to a co-op in 1975. Originally built as a hotel, the 27-story structure was designed by Helme & Corbett with Sugarman & Berger. It features a full array of first class amenities including a doorman and a full service restaurant on the first floor. “It’s one of the best co-ops in the Village,” Herman says.

The other building, known as the Morad Beekman, is located at 420 E. 51st St. It was constructed in 1962 and converted to a co-op in 1970. The 15-story white-brick building has a black polished granite entrance surround leading to a doorman-attended lobby. The building, which has a garage and roof deck, features numerous first-class amenities.

“As managing agent, our role is to work in partnership with the boards of directors in maintaining the physical plant and planning for the financial and physical future of the buildings,” Herman says. “Responding to the needs of the residents is very important to us.”Co-ops in the two buildings range from studios to three-bedrooms. Management contracts with Rose Associates generally run for two years, Herman says.

Rose Associates is a developer and manager of prime residential, commercial and retail properties throughout the Eastern seaboard. The company manages 15,000 residential units and four million sf of commercial space and is one of the largest owners and managers of street-level retail space in Manhattan.

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