The Challenge
The owner of 1600 Bolton St had faced significant challenges when he previously listed the property with another local broker for over a year without success. This prolonged lack of movement led to a perceived lower value, creating uncertainty, particularly among his tenants. Hesitant to relist, the owner was concerned that a second listing might decrease the property’s value and lead to tenant unrest, complicating the sale.
The Action
Yaakov Kanevsky of Midfield Realty quickly recognized the underlying issues the owner faced and took a hands-on, strategic approach to address them. Understanding that the property needed a fresh approach to generate qualified buyer interest, Yaakov focused on targeting the right buyers.
Yaakov’s strategy included streamlining the buyer pool, ensuring only financially solid buyers had access to the property. He worked closely with the owner to highlight the property’s strong in-place cap rate, which positioned the asset as a stable investment in a market where buyers were becoming more selective and looking for income-generating assets.Through Midfield’s extensive marketing network and Yaakov’s outreach, the property was quickly brought to market in a way that instilled confidence both in buyers and tenants.
Result
Yaakov’s strategy proved successful. Within a short time, the property generated multiple offers, ultimately selling for $127,000 per unit—a strong result for the owner, especially in a market where many similar properties were sitting unsold for extended periods. Yaakov’s careful management of tenant communications and the buyer process ensured the transaction moved smoothly and closed quickly, providing a successful outcome for the owner.
By minimizing tenant disruptions and working with only qualified buyers, Yaakov helped the owner achieve a fair market value through achieving multiple offers.
For all your multifamily real estate needs, reach out to Midfield Realty. We’re here to help you navigate any market conditions and ensure your property goals are achieved.
“After struggling for over a year with no success, I was skeptical about relisting. But Yaakov from Midfield Realty handled everything with care and professionalism. He brought in qualified buyers, minimized tenant disruptions, and closed the deal for a price I was happy with. Yaakov’s approach truly made the difference.”
