How We Got Started
Rose Hill Asset Management Corp, better known as RHAMCO, is a progressive Bronx, NY based firm that was founded in 1998 by John Colangelo during his junior year at Fordham University. With transfer student housing not offered at Fordham University John was faced with the adversity of trying to find off campus student housing after transferring from Hofstra University. After many days of canvassing and talking to strange, shady Bronx landlords and unscrupulous brokers John rented a two bedroom apartment in a walk up apartment building from an old Italian lady.Unfortunately she, the landlord, fell ill andJohn leapt at the opportunity to buy the building. He convinced his father and brother to invest in his vision of converting the rent stabilized building into student housing and from there RHAMCO was born.
While attending school full time, and interning for Mario Gabelli during the day, John spent most nights, weekends and summers tastefully renovating and creating off campus housing for students. John slowly purchased more properties in the area, with the help of his college roommate and family, all while achieving a Master’s Degree in Real Estate Development from NYU. In 2009 John Colangelopartnered with another young visionary Matthew Barbaccia. Matthew graduated from the University of Arizona with a degree in Business management. He previously worked in both investment and real estate before partnering with John at RHAMCO.
RHAMCO has quickly become a household name in the Bronx neighborhood. Trusted for their commitment to responsible development practices and the quality of living provided to their tenants, RHAMCO has created over $30 million in student housing. John and Matt continue to partner with local owners to help them create anddevelop RHAMCO’s goal of providing students with a supportive and convenient place to live, study, and enjoy their college years at Fordham University. With new properties opening in the summer of 2014 and master plans for continued expansion in the years to follow, RHAMCO’s success in student housing has only just begun.