About SAM
Experts On Every Level
We are staffed by a group of industry professionals offering a full spectrum of property management services tailored to the needs of banks, servicers, hedge funds, and private owners. Our goal is to maximize returns for our clients by providing comprehensive solutions that encompass every aspect of property management.
We're Local
SAM leverages local market expertise to deliver customized strategies that minimize risk, enhance property performance, and lower operational costs. SAM ensures efficient management and maintenance to optimize the value of each property.
20+ Years of experience
We are a full-service firm with a dedicated staff and in-house contractors, allowing us to handle any task related to your rental properties. With over 20 years of experience in this arena, we are uniquely qualified to assist you when our services are needed.
About The Owner
My name is Frank Pronesti, and I am the owner of Special Asset Management LLC. My journey into the world of asset management began in 2009, during my tenure as a commercial real estate broker while simultaneously managing my own rental portfolio. At that time, I was hired by a national bank to facilitate the sale of a portion of their Non-Performing Debt on multi-family assets located in North Jersey.
Through my successful execution of numerous loan sales for the bank, I developed a strong professional relationship with the asset manager overseeing these transactions. Recognizing my expertise and particular skill set, the asset manager inquired if I knew any rent receivers operating in the North/Central Jersey market. Although my initial response was no, the asset manager saw potential in me and proposed that I take on the role of a Rent Receiver for some of the bank's more troubled loans with non-cooperating borrowers.
After educating myself on the intricacies of the rent receiver role in the foreclosure process, I accepted the challenge. Since then, I have successfully served as a rent receiver on multiple occasions, effectively managing distressed assets and ensuring compliance with court orders. Over time, I have built a dedicated team to support me in this specialized area, allowing us to handle these responsibilities with the utmost professionalism and efficiency.
Today, Special Asset Management LLC leverages this extensive experience to provide exceptional asset management services, particularly in the realm of distressed properties. Our goal is to deliver optimal outcomes for our clients, navigating complex situations with skill and integrity.