Founded in 2015, Novel Property Ventures invests in multifamily and mixed-use properties in Manhattan, Brooklyn, and surrounding areas. Aiming to be the ultimate solution for asset management and development, Novel capitalizes on the evolving apartment market in New York City, New Jersey, and Florida.
With an elite team of property management, construction, and finance experts, Novel Property Ventures positions properties to exceed expectations. Novel adds lasting value to every property it oversees by implementing structural upgrades and aesthetic renovations.
Discussing the mission of Novel Property Ventures, Co-founder and Principal Bennat Berger says that the company began as “a response to the needs I saw in the field for a property management business that catered to communities, prioritizing tenant well-being and satisfaction rather than just profit alone.”
For Novel Property Ventures, the mission is clear: Bring about positive social and economic change to communities. To accomplish this, the team makes the well-being of tenants their highest priority, striving to provide the best housing and best service at a fair price. When customer satisfaction is high, Novel believes they set the business up for sustainable success.
Novel specializes in a full-service process, handling everything from conception to completion. Before investing in a property, analysts at Novel perform the necessary due diligence, from risk analyses to return projections. Throughout the process, the team keeps the needs of both investors and residents in mind. This proactive and ethical approach to property management benefits everyone involved.
At Novel Property Ventures, Bennat, fellow Co-founder Andrew Miller, and the team have core values of accountability, teamwork, and a passion for learning. They achieve positive social and economic community growth through quality design, construction innovation, and exceptional customer service — which create exceptional value for investors and residents.
Novel invests in well-located multifamily, mixed-use, retail, and office properties priced between $10-$250 million. The team at Novel have a keen eye for identifying unique assets with the potential to deliver incredible financial opportunities.
Since Novel’s founding, the team has made an array of great purchases throughout New York City and beyond. Notable acquisitions include a 360-unit rental complex in Roseland New Jersey for $130 million, a 485-unit rental complex in downtown St. Petersburg Florida, a 12-building multifamily portfolio in Central Harlem for $35 million, and a 38-unit rental building in Brooklyn Heights that has four ground-floor retail spaces for $25 million.
By investing in the most exciting and promising submarkets of New York City, Bennat Berger and his team have established a strong position to surpass expectations. Novel’s commitment and ability to enhance tenant happiness and improve properties mean any piece of real estate in a prime location will realize tremendous returns for investors.
Leaders at Novel Property Ventures bring decades of experience in real estate. Since 2007, Bennat has overseen real estate projects and acquisitions, managed a variety of properties, and ensured tenant and investor satisfaction. Since 2005, Andrew has had much success in many areas of the real estate industry, from marketing and evaluations to acquisitions and development.
Crediting Novel Property Venture’s success to great personnel and even better teamwork, Bennat plans to continue to diversify the firm’s portfolio. The big goal is to build a model organization for property development and management.