Residential Management

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From:          Real Estate Board of New York (REBNY)

Contact:       Richard Mulieri
              The Marino Organization
              (212) 889-0808

     Digby Management’s Debra Fechter honored as Executive of the Year
  Albert Mayas of Charles H. Greenthal takes home Community Service Award

NEW YORK, NY – (January 10, 2007) – The Real Estate Board of New York (REBNY),
today honored two industry executives at its annual Residential Management Leadership
awards breakfast today.

Debra Fechter, Partner of Digby Management Company, LLC has been named
Residential Management Executive of the Year. This award recognizes an individual of
superior accomplishments in the residential management industry. Candidates are
evaluated based on their professionalism in the field of property management, civic
achievements and contributions to the real estate field and was presented to Ms.
Fechter by Paul Herman, Executive Vice President of Brown Harris Stevens and last
year’s winner.

Albert Mayas, Executive Managing Director of the Charles H. Greenthal Group, Inc.
was honored with the Residential Management Community Service Award. This award
recognizes a residential management professional for his or her charitable contributions
to the real estate industry and was presented by Leslie Winker, a Vice President at
Penmark Realty Corporation and co-chair of the Management Leadership Awards event.

“These prestigious awards recognize some of the finest executives in the field of
residential management,” said REBNY President Steven Spinola. “Debra and Albert are
two of the most respected individuals in the industry and both have made exemplary
contributions and serve as role models for their colleagues. The honor is well deserved.”

Guest speaker Vicki Been, Director of New York University’s Furman Center for Real
Estate and Urban Policy, addressed the audience of 275 REBNY members and their
guests on the state of New York City’s housing and neighborhoods, and the pressing
need for housing, especially for the middle-class. Been also discussed the Center’s
study comparing the value of cooperative housing vs. condos in the city, which found
that, all else being equal, condo’s carried an 8% premium in value overall.
Gold Sponsors of the event include Brown Harris Stevens Residential Management,
LLC, Digby Management Company LLC, Milford Management Corp., North Fork Bank
and Stroock & Stroock & Lavan, LLP.

The Real Estate Board of New York is the city’s leading real estate trade association
with 11,000 members. REBNY represents major commercial and residential property
owners and builders, brokers and managers, banks, financial service companies,
utilities, attorneys, architects, contractors and other individuals and institutions
professionally interested in the City’s real estate. REBNY is involved in crucial
municipal matters including tax policy, city planning and zoning, rental conditions, land
use policy, building codes and legislation. In addition, REBNY publishes reports
providing indicators of market prices for both the residential and commercial sectors.


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