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2013-12-13T00:00:00.000Z

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Wrong Thomas Pasquazi?

Thomas Pasquazi A. III

Managing Director

Orsid Realty Corp.

HQ Phone: (212) 247-2603

Orsid Realty Corp.

1740 Broadway 2Nd Floor

New York, New York 10019

United States

Company Description

ORSID provides Asset and Property Management services for rental apartment buildings in the New York metropolitan area. We enhance the value of these assets by employing the same detailed orientation we provide for cooperatives and condominiums. Our 50+ y ... more

Find other employees at this company (131)

Background Information

Web References (9 Total References)


Not to be overlooked is the ...

cooperator.com [cached]

Not to be overlooked is the maintenance of the tank's supporting structure, says Tom Pasquazi, managing director of Orsid Realty, a Manhattan property management firm. In a worst case scenario a perfectly good water tank may have to be taken out of commission, which means dismantling it and putting the building on bypass, so a deteriorating supporting structure can be replaced. Of course, such extreme measures can easily be avoided if the management company and the building superintendent ensure that the supporting structure is scraped and painted on a regular basis. Pasquazi also notes that some buildings have decorative enclosures to hide their water tanks and to protect them from the elements, which also need to be maintained.


The biggest problem facing co-ops and ...

cooperator.com [cached]

The biggest problem facing co-ops and condos, says Tom Pasquazi, Orsid's director of management, is the line of demarcation for responsibility to deal with the lead-based paint. The interpretations we've gotten from insurance companies and attorneys is that responsibility for dealing with lead-based paint follows the same lines of responsibility as outlined in the proprietary lease or offering plan. Typically, proprietary leases and offering plans stipulate that repair or maintenance responsibility for features inside units falls to the shareholder or unit owner when the feature is outside the walls, and to the building when the feature (such as pipes) is inside the walls. The repair or maintenance responsibility for features of a decorative nature within residential units almost universally falls to the shareholder or unit owner, and paint is generally considered to be such a decorative feature.

According to Pasquazi, A co-op or condo's exposure generally falls to the common areas, such as lobbies, hallways, basements, etc. In cases where responsibility isn't clearly defined, the responsibility generally falls to the co-op or condo.


The only simple solution is for ...

cooperator.com [cached]

The only simple solution is for the cooperative to agree to accept below market rents from its commercial tenants, and Thomas Pasquazi, vice-president of Orsid Realty Corp., points out that a number of cooperatives have been forced to take this alternative.


The biggest problem facing co-ops and ...

cooperator.com [cached]

The biggest problem facing co-ops and condos, says Tom Pasquazi, Orsid's director of management, is the line of demarcation for responsibility to deal with the lead-based paint. The interpretations we've gotten from insurance companies and attorneys is that responsibility for dealing with lead-based paint follows the same lines of responsibility as outlined in the proprietary lease or offering plan. Typically, proprietary leases and offering plans stipulate that repair or maintenance responsibility for features inside units falls to the shareholder or unit owner when the feature is outside the walls, and to the building when the feature (such as pipes) is inside the walls. The repair or maintenance responsibility for features of a decorative nature within residential units almost universally falls to the shareholder or unit owner, and paint is generally considered to be such a decorative feature.

According to Pasquazi, A co-op or condo's exposure generally falls to the common areas, such as lobbies, hallways, basements, etc. In cases where responsibility isn't clearly defined, the responsibility generally falls to the co-op or condo.


Not to be overlooked is the ...

cooperator.com [cached]

Not to be overlooked is the maintenance of the tank's supporting structure, says Tom Pasquazi, managing director of Orsid Realty, a Manhattan property management firm.In a worst case scenario a perfectly good water tank may have to be taken out of commission, which means dismantling it and putting the building on bypass, so a deteriorating supporting structure can be replaced.Of course, such extreme measures can easily be avoided if the management company and the building superintendent ensure that the supporting structure is scraped and painted on a regular basis.Pasquazi also notes that some buildings have decorative enclosures to hide their water tanks and to protect them from the elements, which also need to be maintained.

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