On the Upper East Side, we have managed a mixed-use apartment building for more than 25 years.   During this quarter century, we replaced many of the building’s systems with new, more efficient systems.  This included the lobby and hallway upgrades, sprinkler -pumps, roof replacement, new thermo-pane windows, new entry doors and most recently a new energy efficient heating plant.  With the owner’s approval, we have budgeted reserves for replacement so that over time the building was able to pay for capital improvements without affecting the regular cash flow.   The teamwork with ownership and management has improved the property so that it continues to operate and look like a new building.