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Staying the Course to Get the Best Price

news article

Helping a motivated seller determine value 

Hoping to build relationships in the residential market, the advisors reached out to the private owner of a residential building in Toronto. The team, led by Kyle Lindsay and Joshua Perlstein discovered the owner was motivated to sell, having grown tired of managing the building and the low income to value ratio. They met to discuss the value of the property and immediately received interest from a number of private investors. 

Timing, relationships and persistence pay off

Not satisfied with the relatively low offers received for the property, the owner decided to hold the property in the hope of soliciting higher offers. A month later, the team decided to list the property again. The group toured some new groups but received a firm offer from a previous bidder. The successful bid came from an asset management company, who bid one million dollars over their original offer.The transaction encountered a few challenges but the team persisted and closed to the satisfaction of both parties in under three weeks. 

The team’s real estate expertise and strong industry relationships were the differentiating factors for this sale, allowing the client to gain market value for the sale of the building without having to go through a lengthy marketing process.  

55 Hendrick Avenue, Toronto
Advisors: Kyle Lindsay & Joshua Perlstein
Size: 29 suites, 3-storeys
Sale date: October 2018
Sale details: $6,300,000
Duration: 60 days