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Vincent Parziale President and CEO - Gramercy Group, Inc.
Vincent Parziale is President and CEO of Westbury-based Gramercy Group Inc., one of the leading demolition company’s in the tri-state area. The company generates $33.5 million in annual revenue and employs more than 200 individuals.
Parziale has achieved tremendous success. A sole-proprietor and self-financed entrepreneur, Parziale started his career in the waste management and disposal industries in 1995 with the formation of Parziale Waste Systems, a company that focused on residential clean ups. During that time, he owned one truck and was an independent owner and laborer. That same year, his company ventured into the roll-off industry and supplied refuse management for job sites in the commercial industry. By 1996, his business expanded and was servicing 25 accounts, employing five laborers and owned and operated three additional roll-off trucks. A year later, he purchased Park Carting. This new venture included three trucks, 25 dumpsters and more than a dozen accounts including Safelite Auto Glass, Grucci Fireworks and Sweet & Low. His next acquisition was Graz Recycling, giving him an opportunity to run four additional trucks and 65 dumpsters and gross a profit of $20,000 a month. His clients included Bio-Botanica Vitamin Manufacturers, Nature’s Answers, Crest Hollow Country Club, Jung Sun Laundry, Village of Roslyn Housing Authority and American Storage and Transfer.
Parziale’s determination and strong entrepreneurial drive has enabled him to take his company to the next level. In 1998, he contracted with Island Chip & Mulch of Smithtown to run their tree yard waste recycling facility.
A person who cares about his community, Parziale volunteers his time to the Cooley’s Anemia Foundation, and, in 2006, will be honored as the organization’s Man of the Year.
He holds a Bachelor’s degree from Hofstra University.
Turnkey Solution’ Locks in Gramercy Growth
By Adina Genn, Long Island Business News
Friday, May 12, 2006
When Vincent Parziale and his partner Frank Amicizia purchased Westbury-based demolition and environmental remediation company Gramercy Group in 2000, they had one phrase in mind: “Turnkey solution.”
In Gramercy’s case, the approach means both landing demolition projects and handling environmental concerns, including asbestos abatement. Doing both enables clients to retain one source for the entire process, rather than hiring separate firms for the demolition and the remediation.
Demolition and remediation “go hand in hand,” said Parziale, 32. “Most old buildings have asbestos.”
The strategy has enabled Gramercy to grow from zero sales into the $33.5 million enterprise it is today. The combination of demolition and remediation appeals to owners and developers who want to complete a project seamlessly, rather than starting and then stopping a job to call in specialists if asbestos is discovered, noted Mike McVetty, a CPA and partner of the construction practice group at the Garden City-based accounting firm Margolin, Winer & Evens. It’s a trend McVetty expects will be increasingly embraced by demolition companies.
“Bigger companies will have to do it” in order to grow, he said, and to win large contracts, “You’re better off having both.”
The partners have always thought big, keeping an eye on the future and environmental integrity. For instance, rather than create a company from scratch, in 1999 they purchased Gramercy Asbestos Consulting because it had a current New York State asbestos remediation license.
“To bid certain government jobs, you need five years consistent asbestos licensing,” Parziale noted.
Both Parziale and Amicizia had the relevant industry experience. Parziale had already started up and sold a waste management and disposal company. And Amicizia, once a client of Parziale’s, had demolition and remediation expertise. Amicizia had “taken down high rises and industrial plants,” Parziale said.
That expertise has enabled the company to participate in high profile projects, including the Queens West waterfront development, which upon completion will feature residential units, waterfront parks and commercial space.
It’s also enabled the company to land projects as far away as Puerto Rico. The partners learn about many good customers through environmental consultants with whom they have established relationships, according to Parziale.
To build that kind of rapport, a company also needs highly skilled workers. Gramercy’s employees are trained in the removal of asbestos and other hazardous materials, including lead and mercury.
Depending on the project load, the company can employ as many as 600, averaging about 200 full-timers at any given time and pulling from local unions for operating engineers, building laborers and asbestos, lead and hazardous waste removal laborers as required. Gramercy keeps a core group of 28 full-time project managers – 20 specializing in demolition, eight in remediation. And by having licensed environmental workers on staff, Parziale said he has the ability to safely move staff from job to job as needed.
The company finds additional revenue by recycling steel, metal, concrete and brick, and engineering it into a salable product, such as a new foundation for a client.
“It’s good for the environment, and helps clients for future construction,” Parziale noted.
Going forward, the company has its sights on bigger projects. Up until recently, the company targeted work ranging from $500,000 to $5 million. Thanks to new bonding worth $50 million, with the capability of getting larger bonds as needed, the company will now pursue projects worth up to $50 million, Parziale said.
