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RE Firm Celebrates 100 Years in the Industry

Posted January 1, 2010 by Matthew Denton

Good business sense propels this company to heights even in the midst of recession.

We enjoy running good news in this blog. Take for example this New Haven, CT real estate firm that has endured a century of market cycles. William M. Hotchkiss Co. , a property management company that specializes in property and asset management and residential real estate brokerage and sales, was started by its namesake who was then 26 years old. Little did he know that it would remain stable after his children have taken his post.

Now, the company is already owned by Richard Coote who bought it in 2002. It has established a reputation for going beyond traditional business. In a report by the New Haven Register , “Among its list of clients, the company manages multiple properties for the New Haven-based Hospital of Saint Raphael Healthcare System as well as its Medical Office Building…Over the summer, one of Saint Raphael’s satellite locations had a system failure of the entire building’s air-conditioning system. Within a week, Duffy said, Wm. M. Hotchkiss Co. had a truck-mounted mobile cooling system on site that provided air conditioning to the staff while arrangements were made to permanently fix the problem.”

Looking at the company’s performance, we’ve observed two things that have made it last all these years.

First, its services go beyond real estate brokerage. In fact, we surmise that it generates more revenue from its property management department having been awarded numerous projects in the state. Therefore, even a slowdown in the general real estate market won’t pose much threat to its income statement.

Second, the company commits to corporate social responsibility practices. Aside from its daily operations, it also “works with many area nonprofits and manages some projects administered by the U.S. Department of Housing and Urban Development.” In a way, this gives them added exposure to the market and creates a “philanthropic image” to its clients.

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