ABOUT US

History of New City Property Management

New City Property Management was founded during the immediate years after the Great Recession and real estate collapse of 2007 and 2008.  Jimmy Oppenheimer worked for 25 years as a successful options trader at the Chicago Board of Trade, Chicago Mercantile Exchange and LIFFE Exchange. Despite his long history with derivatives trading, Jimmy has always had an interest in real estate as a long term investment. He appreciated the contrast of long-term investing as a diversification to the daily trading environment. The opportunities coming out of the financial crisis of 2008, spawned New City Property Management.

Coming out of the recession was a unique opportunity for investing in multifamily real estate. The world had low interest rates, strong rental demand, and significant price reductions. Jimmy began his long ascent in the real estate business by starting small with single-family homes, two flats, six flats, moving into larger courtyard buildings and eventually landing on generational mid-rise towers.

Soon after he started his management business, Jimmy was joined by Donny Brown, one of his long-time friends from the trading floor.  Early on Donny focused on acquisitions and today plays a significant role in the day-to-day operations of New City. His years of experience with acquisition, construction and stabilization has helped New City transition in recent years.   An additional key figure is Tom Aldrich, a long-time friend and colleague of both Donny and Jimmy. Tom serves in an advisory role as well as an investor in several of New City’s investments.

At New City we are invested in the future of tomorrow – philanthropic, civic, and professional growth. There’s a wonderful quote that we take to heart. “Change is inevitable, but growth is not.” We intend on being versatile as the needs of our tenant base change. As technology shifts and we tap into the power it provides, New City will be positioned to respond to the needs of its clients, investors and business partners and transition to new heights.

Jimmy concludes: “I feel like our team has achieved many of the original goals that were established in the beginning of this journey.  Today, we are investing in neighborhoods with the vision to be a premier multi-family investment firm that cares. We’ve kept our promise from the beginning. We offer clean, modern, and safe apartments for our tenants. To me, every person in society deserves to be safe and have an affordable place to call home. “I’m convinced New City’s growth will stem from that desire.”