Pennington Property Group

Focused Mission

Pennington Property Group has a common goal of success while maximizing the value of the asset by assessing and identifying the most appropriate use of a property despite the stage of development. From rural to suburban, public to private, and residential to commercial, Pennington Property Group focuses on the potential each opportunity possesses.

Dedicated Service

Pennington Property Group was founded by Benjamin Goldthorp, a respected development industry professional. With a collective range of skills in development, planning, community relations, sales, investment, operations, and risk management, Pennington Property Group is dedicated to offering a well-rounded efficient service to this defined industry.

Valued Expertise

Pennington Property Group has proven that they are experienced experts in all aspects of land development. We provide developers and land owners with our comprehensive knowledge of the entire land development process, including, land acquisition, land use, entitlements, valuation analysis, implementation, and construction management.

OVERVIEW

Pennington Property Group provides full-lifecycle property ventures across the Tri-State area. We employ a proprietary risk management approach to development, built upon the partners’ years of experience. To consistently succeed, Pennington Property Group invests in efficient deployment of capital and in close company-client partnerships. Our mission is to provide solutions that will navigate the land development process achieving our clients' desired goals while minimizing risk, maximizing returns, and ensuring the delivery of a quality project.

Development of Raw Land to Completed Home Sites

Pennington Property Group will purchase ground and navigate through the entitlement process, from undeveloped land to approved subdivisions and land developments. Our goal is to deliver fully approved and/or improved land ready for immediate construction.

Fee Development

Pennington Property Group will implement a strategic plan that aligns with the client’s long term plans for the disposition of an asset by performing:

Feasibility Studies – Analysis of demographics that include population, household income, and lifestyle; determine product type based on consumer preferences, and establish pricing to current market conditions;
Land Use – Evaluate existing zoning and physical constraints of the property, and possible changes in zoning or existing entitlements;
Financial – Initially and continually monitor a pro forma analysis;
Risk Assessment – Throughout the entitlement process we will continue to evaluate the ongoing market environment and make recommendations based on our extensive experience;
Disposition & Contract Negotiations – Pennington Property Group’s experience, knowledge, and keen ability to connect buyers with clients results in a successful sales agreement.

Manage & Complete Partially Developed Sites

Pennington Property Group’s team has been retained by banks, financial institutions, and private equity land owners to accomplish all or some of the necessary prerequisites to deliver a fully improved or approved development.

Our team will complete and guarantee homes that are partially constructed in a real estate owned (REO) subdivision, performing their specific roles at the highest level, ensuring profit is realized by its investors.

Property Management

Property Managers conduct weekly community visits, oversee contracted services and administer all association activity including resident communication as directed by the association’s Board of Directors.

Conduct visits to all associations.
Accounting functions, budget preparation, collection of delinquent assessments, preparation of resale certificates and insurance responsibilities.
Within 24 hours of a snowfall, inspect the community.
Provide a monthly written report outlining maintenance and operational activities.
Investigate written complaints received from residents.
Assist in establishing rules, regulations, and architectural controls.
Administer the repair of association property.
Prepare specifications for contracted services.
Obtain quotations from qualified contractors for all recurring services
Monitor and supervise association contractors.
Reply to owners and residents requests for common area maintenance.
Arrange for distribution of new owner information packages and welcome letters.
Attend board meetings.
Schedule and attend annual meetings.