Partners have a combined 45 years of business experience, primarily as financial analysts. Both partners currently serve or have served on non-profit and for-profit boards, domestic and international operations.
The FolSon Group looks at buildings as a business, using the same scrutinizing methods that a Wall Street analyst uses to find the best investments based on performance and profitability.
The FolSon Group was founded by two Manhattan co-op owners who questioned the fact that the average co-op maintenance charges (and condo common charges) increase by more than twice the rate of inflation. Since these charges are in place to cover the total costs of running the buildings, they should, in theory, only grow at the rate of inflation.
As with any industry that they follow, they took steps to learn all aspects of how buildings operate and gathered information to create benchmarks consisting of data from thousands of buildings.
They look through the financial statements and analyze every line item, every vendor and every contract. The information is then processed and based on their findings, the FolSon team then makes suggestions that often have immediate effect on costs.