A Strategic Win: How Yaakov Kanevsky Secures $103k/Unit Sale with Zero Contingencies on Narcissus Ave.
“Working with Yaakov Kanevsky and Midfield Realty was an absolute game-changer. From the start, he understood the complexity of my situation and implemented a clear, strategic plan. His auction strategy and incredible reach through social media brought in the right buyer, and I was able to sell my property at a great price with no contingencies—exactly what I needed to execute my 1031 exchange. Yaakov’s persistence, professionalism, and market knowledge made this entire process effortless.”
— Property Owner, 5801 Narcissus Ave, Baltimore, MD 21215
The situation.
The owner of a ~25-unit limited lead-free property at 3600 Garrison Blvd, Baltimore, MD 21215, was in a difficult situation. Three years ago, the owner purchased the property for around $1,800,000 and invested an additional $100,000 in renovations. After this, a master lease tenant was placed in the building. Unfortunately, the tenant stopped paying rent, and the owner was left with little recourse. With foreclosure looming in just 45 days, the owner was desperate to protect his equity and needed an urgent solution to avoid losing everything.
The Challenge
The owner wanted to ensure a smooth transition into his new property while maximizing his sale price—ideally above $100,000 per unit. The market posed challenges: lower rents than comparable properties made achieving top-dollar offers difficult, and the owner needed a buyer with no contingencies to avoid jeopardizing the purchase of his next property.
The Action
Yaakov Kanevsky, representing the seller through Midfield Realty, deployed a multifaceted strategy to overcome these challenges:
Auction Strategy: ACoordinated with Matt Cooper of Cooper Auction House to run an auction, guaranteeing no contingencies and creating urgency.
Maximum Exposure: Leveraged Yaakov’s social media audience of 18,000+ Take followers to reach qualified investors.
Direct Outreach: Personally called all local multifamily property owners to ensure competitive offers and visibility.
Result
Through these efforts, Yaakov secured a buyer at approximately $103,000 per unit with no contingencies. The buyer was confident enough to release the earnest money before closing, ensuring the seller could leverage the deal and complete the 1031 exchange seamlessly.