Gray Property Group experienced significant growth and achievements in the third quarter of 2023 across all key areas of business: Investment, Brokerage, and Management. Below are the highlights of our focused intentions, milestones, and accomplishments.
Our brokerage team successfully closed two pivotal sales:
- 42 ½ Abbott Street, Nashua, NH: Nick Gray sold this 3-unit multifamily property for full asking price with no contingencies, marking a successful turnaround effort for our property management client. Gray Property Group was hired for property management ~6 months earlier and our maintenance team was successful in fixing several issues at the property, enabling Nick to sell the property for a price once thought infeasible.
- 48 Mast Road, Goffstown, NH: Nick & Caitlin Gray placed this mixed use property under contract after just ~2 weeks on the MLS. Nick & Caitlin secured a contingency-free deal above the asking price, showcasing our team’s ability to negotiate favorable terms for our clients.
We significantly expanded our management portfolio, adding a total of 38 units across six properties:
- Hanover Street – 11 Units
- Bridge Street – 10 Units
- Reed Street – 8 Units
- Cheney Place – 5 Units
- East High Street – 3 Units
- Saratoga Way – 1 Unit
This expansion includes taking over the management of a 37-unit portfolio based in Manchester, NH. Our focus is on transforming these properties to raise the standard of multifamily housing while ensuring sustainable and affordable returns for investors and improving the living standards for the working middle class.
With the expansion of our management portfolio, we have also grown our in-house maintenance team to include five technicians and one maintenance manager. This increase in capacity enables us to provide timely and efficient maintenance services, further enhancing the value and appeal of our managed properties.
Overall the third quarter of 2023 has been a period of dynamic growth and achievement for Gray Property Group. As we continue to expand our portfolio and improve our services, we remain committed to our mission of raising the standard of multifamily housing and delivering exceptional value to our clients and investors.
