The Challenge
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 Action
Yaakov Kanevsky from Midfield Realty quickly assessed the situation and understood the urgency. Recognizing that time was of the essence, Yaakov came up with an innovative solution: an auction-based approach. By partnering with an auction group, Yaakov created a strategy that would bring in a buyer quickly, without contingencies, and meet the time constraints. Yaakov leveraged his extensive marketing reach, including his social media following of over 15,000, to target potential buyers. He highlighted the owner’s $100,000 investment in renovations and emphasized the property’s strong potential. This aggressive marketing campaign, combined with Yaakov’s connections in the market, generated significant interest in the property.
Result
The marketing efforts attracted a buyer who submitted an offer with no contingencies, significantly expediting the process. Yaakov then connected the buyer with a lender, who was able to close the deal in approximately four weeks. This quick close ensured that the deal met the tight time constraints, ultimately allowing the owner to avoid foreclosure and preserve as much equity as possible.
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.
“I was in a tough spot with my ~25-unit property at 3600 Garrison Blvd, facing foreclosure with only 45 days to sell. I had no idea how I was going to save my investment. That’s when I reached out to Yaakov Kanevsky at Midfield Realty, and he truly worked a miracle. From the very start, Yaakov took charge, coming up with a solution that combined an auction with his powerful marketing reach. He made sure the property got the exposure it needed and found a buyer who was ready to move quickly—no contingencies and a fast close.
What impressed me most was how dedicated Yaakov was throughout the process. He was always available, provided honest guidance, and worked tirelessly to ensure that I wouldn’t lose everything. Thanks to Yaakov, I was able to protect my equity and avoid the financial devastation of foreclosure. I’m incredibly grateful for his expertise and commitment. If you’re in a tight spot, I can’t recommend Yaakov enough.”
