Deal Close
August 31, 2026
Type
Multifamily, 12 units
Price
$1,700,000
Michael Murray
Mid-Atlantic Multifamily Team
Executive Summary
This 12-unit property traded at a thin in-place yield — roughly a 4% cap on trailing income — a number that wouldn’t have supported a competitive open-market process.
Greysteel instead identified strategic value for a specific buyer already assembling the surrounding block and closed it as a pocket listing, letting the seller recover close to his original basis in a difficult market.
The Challenge
The asset’s yield profile was weak enough that a broad marketing campaign was unlikely to produce a materially better outcome, and the seller needed a path to exit without taking a loss.
The Solution
Greysteel took the deal directly to the neighboring owners who were assembling the block, recognizing that the strategic value to an assembler exceeded what the property’s standalone cash flow could support in an open process.
Results
- $1,700,000 sale price, allowing the seller to recover approximately his original basis
- No broad marketing process required — the deal moved directly to a strategic buyer
- Strong outcome for both parties despite a low-yield asset in a difficult market
“Despite the asset trading at a low in-place yield, Greysteel identified strategic value for the neighboring buyer and secured a price that allowed the seller to recover approximately his original basis in a difficult market. The transaction provided a strong outcome for both parties without requiring a broad marketing process,” — Michael Murray, Greysteel Lead Deal Contact, Mid-Atlantic Multifamily Team
Greysteel Advisory Expertise
Greysteel is a commercial real estate advisory firm specializing in investment sales and debt and structured finance, serving private investors, middle-market operators, and institutional clients nationwide.
The firm provides sector-focused advisory across multifamily, healthcare, and affordable housing and other commercial real estate asset classes, delivering market intelligence, capital markets expertise, and disciplined execution.
