Based in New York and managed by John Salib, Castellan Real Estate Partners invests in undervalued real estate properties and renovates them to increase their value and efficiency. With a priority of improving energy efficiency in portfolio buildings, Castellan Real Estate Partners has been awarded $1.7 million in grants from the New York State Weatherization Assistance Program (WAP).
WAP provides financial assistance to families with low incomes to help with home improvements to reduce their heating and cooling costs. The program has assisted many people from underserved areas, particularly the elderly and people with disabilities, reduce their energy consumption and realize energy savings of more than 20 percent.
Only households with eligible incomes (below 60 percent of the state median income) can apply for weatherization assistance. For multifamily building owners to qualify, 50 percent of a building’s tenants must meet this income requirement. A typical weatherization process starts with an assessment of the individual’s home or apartment to check energy efficiency. From the results gathered, mitigating measures are then recommended. They include: sealing cracks to reduce air infiltration, insulating hot water tanks and pipes, insulating walls and attics, repairing or replacing heating systems, repairing or replacing doors and windows, installing energy efficient lighting, and correcting ventilation problems.
Established in 2009 and headquartered in New York, Castellan Real Estate Partners invests in residential and retail properties and has invested in more than 1.5 million square feet of property domestically and internationally. Castellan Real Estate also supports the Robin Hood Foundation and contributes to its poverty-fighting programs. The organization’s initiatives include team participation in the annual TCS New York City Marathon.
The TCS New York City Marathon has become the world’s largest and most popular marathon since its creation 45 years ago, with more than 51,000 runners finishing in 2016. The course traverses through the city’s five boroughs, which include Brooklyn, Queens, Staten Island, the Bronx, and Central Park. Runners are given three options for signing up: individual registration, international travel partners, or running with a charity. In addition, individuals with a physical disability may apply for entry as an Athlete with Disability.
Team Robin Hood participants gain guaranteed entry into the race and a series of additional benefits that include guidance from a professional running coach, personalized virtual training, and invitations to the Team Robin Hood Launch Party and Pasta Party. Team members may also create their own customized fundraising page and join others members in weekly team runs. On race day, team members will receive an exclusive Team Robin Hood race shirt and other swag items.
Participation in Team Robin Hood requires team members to pledge a $5,000 donation goal, which they must fulfill through fundraising or personal donation. Although donations are tax deductible, deductibles must be submitted by November 19, 2017, and require the use of a valid credit card. Furthermore, team members must make up any remaining balance that they cannot collect through fundraising.
The 2017 TCS New York City Marathon will take place November 5, 2017.
Vertically integrated real estate firm Castellan Real Estate Partners invests in more than 1.5 million square feet of domestic and international retail, residential, and office space with assistance from its affiliates. Beyond its everyday operations from its New York headquarters, Castellan Real Estate Partners donates to poverty-fighting programs administered by the Robin Hood Foundation. Programs this organization offers include Fund For Early Learning (FUEL).
FUEL addresses the somber statistic that conditions of extreme poverty put children at a disadvantage for a successful future, particularly children in the early stages of development. Extreme poverty puts children at risk of falling behind their peers, and gaps in abilities may appear as early as 18 months. In order to increase opportunities for impoverished children, FUEL consults with over 80 leaders in various fields and utilizes a three-part investment approach.
The investment approach focuses on three areas: creating community partnerships, promoting innovation, and strengthening existing programs. Focus on these areas enables FUEL to establish a strategic foundation for effective programming that suits the needs of both children and parents.