1. Justin Rounick’s Work Experience
at The Axis on 36th Street

2.  Apartment Features:
 All utilities included
 Contemporary furnishings
 Private bathroom
 Flat screen TV
 DIRECT TV & WIFI
 Walk-in closets
 Additional storage
 Wall-to-wall carpeting
 Microwave
 Refrigerator
 All utilities included
 Summer Discount
 Single Rooms Start at $850 per month
 Double Rooms Start at $550 per person per month
 Community Features:
 Between Penn, University of the Sciences & Drexel Campuses
 Near restaurants & shopping
 Fitness center
 Business center
 On-site laundry
 Movie theater
 Game room
 Fully equipped kitchen
 Housekeeping services
 Resident Advisors on site
 Social events
 International community
 Restricted entry
 Axis Pizza Café & Salad Bar on site open 24 hours!
About Axis on 36th Street
Theater Gym
Business Center
Front Desk

3.  Altman Management Company purchased The Axis from
Professional Realty Advisors in 2010
 $7,000,000 was the purchase price
 Mr. Bluth used a first lien mortgage at first from New York
Community bank for $5.25 million at a rate of either 4.5% for 5 years
or 4.875% for 7 years
 Then in 2013 NYCB and Altman closed that mortgage and opened a new
loan for $7.3 million at a rate of 3.250% for 12 years
 Basically have none of their money in the project by 2013 and is
using the banks money to operate and generate income
History

4. Competition
Apartment Name Location Rent Utilities Main Differences Between
property and The Axis
International
House
3701 Chestnut Street,
Philadelphia, Pennsylvania
19104
$960+ for
private room
and bath
All covered At IHP you need to be enrolled in college, no
gym, housekeeping only in common areas not
bedrooms, more flexible leasing, some suites
have a shared kitchen (oven/stove, burners,
microwave and refrigerator), and fully
furnished.
Hamilton Court 101 South 39th Street,
Philadelphia,
Pennsylvania, 19104
2 Bedroom
shared $990
lowest -- only
1 available for
September
$1038
All covered 24 Fitness Center, Laundry room, Sofa with
large TV (not plasma, Somebody always at the
building from 7AM-Midnight, Stove, oven,
fridge. Had amenities however the gym, sofa,
and TV are outdated and not visually
appeasing.
Chestnut Hall
Apartments
3900 Chestnut Street,
Philadelphia,
Pennsylvania, 19104
2 Bedroom
shared $2346
and studios
start at $1200
Equipped with
A/C, internet
access and cable
hookup (Not
Covered)
This is a very similar property to the Axis and
I believe that they are very comparable. They
have a concierge service, upgraded furniture,
and rooms have full kitchens.

5. Official Student Housing Competition
Apartment Name Location Rent Utilities Main Differences
Between property
and Axis
University
Crossings
3175 John F Kennedy Blvd,
Philadelphia, PA 19104
Full year
leases
starting Sep.
19th $769
for standard
shared
bedroom
All covered with $25 cap
on electric
This property is a bit more upscale
than Axis. The amenities and
furniture are newer and there
security is a little more secure. They
have a 24-hour courtesy patrol
officer
Summit 3400 Lancaster Ave,
Philadelphia, Pennsylvania,
19104
Full year
leases
starting Sep.
19th $874 a
month
All covered with $25 cap
on electric
Conventional microwave, no TV,
upgraded amenities, need paper to
print, $200 apply fee. You are also
given a washer and dryer along with
a dishwasher and garbage disposal.
Skylounge with full kitchen, bike
storage, community events, garage
parking, and sundeck.
Chestnut
Square
3200 Chestnut Street,
Philadelphia, Pennsylvania,
19104
$909+ for 2
bedroom
shared
All covered with $25 cap
on electric
Much nicer, upgraded amenities, full
kitchen, no TV but updated
furniture. This space is a bit more
upscale compared to Axis and also
has retail stores on-site.

6. Altman Management Company
 Axis on 36th Street
Assisted manager, assistant manager, and leasing agent
Shopped competing apartment complexes
Assisted social media accounts and free advertising
Occasionally ran front desk
Assisted walking tours and 3rd party contractors
What Did I Do?

7.  Shows me the everyday work of the managers and leasing
agents
 Reinforces all workers need to be on the same page
 Policies/Procedures need to be followed
 Not only company policies/procedures, but also in accordance with
The Federal Fair Housing Law
 Teaches me the nuances of Commercial Real Estate
How Does This Experience Move me
Into my Future?

8.  Professionalism
 Attention to detail
 How to shop competition
 How to operate front desk
 Yardi Software
 How to fill out Guest Card
 Free-advertising through Social Media
Skills Learned

9.  Nuances of Commercial Real Estate
 The Federal Fair Housing Law
 Working with 3rd party contractors
 to assist tenants
 Shopping competition
 Finding “lost” packages for tenants
Obstacles Faced

10.  Continuing to get many guest cards
 Following up on those leads
 Then storing guest cards for the future to follow up
 183 beds
 89 single occupancy rooms and 47 double occupancy rooms
 There are 25 beds available and 1 is a single occupancy room
Recommendations for The Axis