For Second Consecutive Year, RAND Is the Only
New York City A/E Firm Named to Inc. 5,000 List

New York, August 20, 2008

For the second year in a row, RAND Engineering & Architecture, PC was named to the Inc. 5,000 list of the fastest-growing private companies in the United States. RAND, a 75-person firm that services residential, commercial, and institutional properties, had a three-year revenue growth (from 2004 to 2007) of 87.3%, ranking it at number 3,633. The company's 2007 revenues of $7.5 million were its highest since the company was founded in 1987. As in 2007, RAND was once again the only New York City-based architectural or engineering firm to make the list.

While the drop in the national housing market has been felt in New York City, the city's real estate industry remains strong overall, which has buoyed RAND's growth. Residential condominiums and cooperatives, for example, which represent the majority of RAND's business, have continued to invest in major capital improvements for their buildings. "Our clients understand that proper building maintenance and repairs are essential to protect their investment and keep their properties looking good and operating efficiently," said RAND President Stephen Varone, AIA.

Survey Strength

One area in which RAND has experienced strong growth is its building survey work. Condo and co-op boards planning major repair and upgrade projects typically require a diagnostic report that details the condition of the building's exterior and internal systems and components and provides budget projections for repair and replacement work. RAND also conducts Physical Condition Surveys for owners of rental properties planning to convert to co-op or condominium ownership and for boards of recently built buildings that want an analysis of their building's defects.

To keep up with the increased demand, RAND has developed a survey team staffed with engineers and architects with expertise in facades, roofs, heating, plumbing, electrical, and other exterior and internal building systems. "Building surveys and evaluations have always been an important service for us," said Peter Varsalona, PE, RAND's Principal and head of its Mechanical, Electrical, and Plumbing team. "Putting together a team of experts that specialize in Physical Condition Surveys has helped us meet the demand in this still growing segment of the market."

Despite the downturn in the real estate market throughout the country, RAND expects its growth to continue in the next year. "New York City is not entirely immune to the problems of sub-prime foreclosures and tightening credit that have plagued many residential and commercial properties nationwide, but we are confident that our local market will weather the storm," Varone said.

The 2008 Inc. 5000 list measures revenue growth from 2004 through 2007. To qualify, companies must be U.S.-based and privately held, independent companies, and have had at least $200,000 in revenue in 2004 and $2 million in 2007.

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  • RAND Engineering & Architecture, DPC
  • 159 West 25th Street
  • New York, NY 10001
  • P: 212-675-8844
RAND Engineering & Architecture, DPC
159 West 25th Street | New York, NY 10001
P: 212-675-8844 |