First Realty Management of Boston: Positioned for a bright future

Frank Cevetello, First Realty Management

First Realty Management, a premier property management firm with offices in downtown Boston, Worcester and Providence, maintains a unique position within the region’s property management market. It is a local privately held and family owned firm. The company places an emphasis on building quality communities together with the residents and owners that we serve. It has experience managing apartments, condominiums and commercial property that ranges from retail to industrial space. And one of the company’s greatest strengths is the depth, breadth and longevity of its team.

First Realty Management Corp., founded by Max Kargman, began as First Realty Company of Boston in 1953. Its initial focus was the acquisition, rehabilitation, leasing, and then sale of commercial office buildings in downtown Boston. The company earned a reputation for expertise in urban redevelopment and was asked to consult on such projects as Government Center and Center Plaza by the City of Boston, and on the development of what were then blighted inner city areas by the cities of Brookline and Cambridge.

First Realty subsequently expanded into the development and management of luxury residential apartment complexes, led one of the first conversions of an apartment community to a condominium in Massachusetts and began the development and management of a portfolio of workforce housing. The company later expanded into third party management of luxury and affordable apartment communities, condominium communities, and commercial space.

Within the last several months, a third generation family member joined the company’s leadership team. Kathryn Kargman Holden, daughter of owner and chief executive officer Bill Kargman and granddaughter of company founder Max Kargman, serves as vice president. She is a graduate of Harvard College, Boston College Law School and Cornell University where she received a master’s degree in business administration.

First Realty Management lives its corporate vision on a daily basis: We Create Quality Communities Together. First Realty takes a proactive approach to delivering services that exceed expectations without exceeding a realistic budget. We adhere to the highest professional standards set within the property management industry. Its employees are trained to treat the properties they manage with the care they would afford their own home, and the company is proud of the work that they do. To create quality communities together, First Realty Management strives to:

• Provide the best living environment for our residents, the best working environment for our employees, and the best economic return for our owners.

• Work together as a team.

• Provide service before it’s requested.

• Create opportunities for personal, professional and financial growth.

First Realty Management’s vision is illustrative of the company’s dedication to excellence in the service that it provides to residents, owners, community development corporations and associations, its company culture, and its commitment to its employees. This dedication has enabled the company to gain and maintain management of over 7,100 residences at nearly 80 properties. First Realty has also won over 25 national and regional management awards in the past 20 years.

One externality of this culture is that it has enabled the company to build a highly-skilled and committed team with substantial depth, breadth and longevity. The team of in-house professional departments, represent a high level of expertise available to support each of the company’s property managers.

Of First Realty’s 229 full-time employees, 57% have been with the company for more than five years. Thirty-seven employees have been with the company for 20 or more years and five have provided 40 years or more of service. That is a testament to the lived mission, vision and culture of the company.

The strength of the company and the service it provides, is only as great as the strength of its component parts, its team, and First Realty is committed to attracting and retaining those who share the company’s commitment to excellence, collaboration, providing service before it is requested, and creating innovative new opportunities for personal, professional and financial growth. We believe that striving daily to reach those goals for both our clients and our communities keeps our company on the leading edge of the market and we are excited for what the future holds.

Frank Cevetello begins his duties as chief operating officer July 1, 2016, First Realty Management, Boston.