Multifamily Case Study: 661 Washington

661 Washington is five-story boutique walk-up located in the landmarked area of of Manhattan’s West Village in New York City. The building needed a modern access system that would vastly improve tenant experience in order to attract young, affluent residents, and Swiftlane offered the perfect solution. Download the customer case study to learn more.

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video Intercom system washington

“After taking a look at a couple of different options on the market, Swiftlane seemed to be not only the most elegant solution in terms of form factor and installation, but also the product itself was better and valued better than other options.”

Adam Basuljevic, Asset Manager, TARGO Capital Partners

“It’s been great. We had the system installed ahead of the construction that we had going on within the building. Being onsite and able to give everyone access codes plus being able to remove those codes once work was done made my job not only as a landlord easier but as a project manager as well."

Adam Basuljevic, Asset Manager, TARGO Capital Partners

"It’s been great from my perspective and on top of that, the tenants love it. There is nothing like it that people have seen. There are a couple of buildings that have similar solutions, but to be honest with you, the facial recognition that they have on their systems is lacking.”

Adam Basuljevic, Asset Manager, TARGO Capital Partners

About 661 Washington

TARGO Capital Partners is a real estate investment firm that focuses on the acquisition of multifamily and mixed-use buildings. TARGO Capital Partners recently acquired 661 Washington. 661 Washington is a five-story boutique walk-up consisting of 13 units and located in the landmarked area of Manhattan’s West Village in New York City.

The Challenge

Most buildings in New York have old, low voltage systems that use a buzzer to grant access to the front door from an individual unit, which was the case with 661 Washington. In order to attract the next generation of renters, it was critical that the building be modernized and updated with a functioning access control system.

661 Washington faced even further challenges during renovation due to their location in the landmarked are of the West Village. Designated landmark areas and historic districts are subject to special considerations within the NYC Zoning Code in order to help facilitate preservation. These can create an additional level of effort for property owners and developers who want to work with structures the city wants to protect.

“In a landmarked area, it’s much more difficult to do things like permitting,” said Adam Basuljevic, Acquisitions & Asset Management at TARGO Capital. So, the most attractive solution is if you could take an existing system and have the ability to run video intercom across the building without actually having to install within each individual unit. People can get called even when they aren’t in the unit. So for us, having this capability was everything. It brought a 50- or 60-year-old system into the 21st century.”

video access system

The Swiftlane Solution

661 Washington needed a solution that was simple in design and function. This was critical to enhancing the resident experience, but also for maintaining a high level of security during building renovation. Swiftlane allowed system administrators to remotely assign and revoke access to contractors to create a seamless workflow throughout the project.

“We had the system installed ahead of the construction that we had going on within the building,” Adam said. Being onsite and able to give everyone access codes plus being able to remove those codes once work was done made my job not only as a landlord easier but as a project manager as well.

“It’s been great from my perspective and on top of that, the tenants love it. There is nothing like it that people have seen. There are a couple of buildings that have similar solutions, but to be honest with you, the facial recognition that they have on their systems is lacking.”

DOWNLOAD THE CASE STUDY TO READ MORE

modern access system

The Results

The partnership between 661 Washington and Swiftlane has had a profoundly positive impact on the community. Swiftlane has saved time, increased cost savings, and generated higher revenue for the community. 

“Swiftlane made it easier to manage the property because we were able to connect the system to our third party property manager and allow them to run with the process in terms of being the front desk,” Adam said. I don’t have to sit onsite in the office and wait to open doors for tenant’s visitors or deal with any potential issues.”

In addition to facilitating business growth, Swiftlane has contributed to revenue generation for 661 Washington. 

“Swiftlane definitely helps in respect to driving rents, particularly in this location specifically. Our target demographic for renters are young, affluent professionals. So, when you have a system that’s been upgraded and it’s no longer this antiquated buzzer system, the combination of that package — the work that we did to renovate and upgrade the building as well as adding in Swiftlane to give them functionality and convenience — is the perfect fit.”

modern access system

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