In the fourth quarter of 2023, Gray Property Group focused on strategic growth and operational excellence. We learned the importance of vetting prospective clients and ensuring aligned visions and values for fruitful partnerships. To support our continued expansion, we began the process of hiring a dedicated Business Development Representative to identify, cultivate, and secure new property management opportunities.
Our brokerage team had a successful quarter with two pivotal sales and one new listing:
- 80 Dover Street, Manchester, NH: Nick and Caitlin Gray closed this deal within a 45-day 1031 exchange identification period. Gray Property Group will take over property management services effective November 1st, with a mission to raise the standard of housing one property at a time.
- 500 Union Street, Portsmouth, NH: Brett Berger, our sales agent specializing in fix & flips on the Seacoast of New Hampshire, transformed this property into a modern masterpiece. Acquired in November 2022 for $555,000, the property sold for an impressive $1,260,000 after a year of dedicated renovation.
- 210 North State Street, Concord, NH: Nick Gray is the Broker of this 8,718 SF, 6-unit office condominium offering strong, stable cash flow and a perfect location just ~1 mile from Downtown Concord, Route I-93, and I-393.
These transactions exemplify Gray Property Group’s comprehensive service spectrum: from acquisition, renovation, and management, to eventual sale, ensuring maximum value for our clients.
Gray Property Group maintains forward momentum expanding our management portfolio, adding a total of 15 units:
- Mary Ann Road – 2 Units
- Brook Street – 3 Units
- Blaine Street – 3 Units
- Howe Street – 1 Unit (Single-family)
- Dover Street – 3 Units
- Taylor Street – 3 Units
With the expansion of our portfolio and as part of our commitment to tenant safety and satisfaction, we initiated an in-house snow removal program for our multifamily management portfolio. This move marks our first step towards bringing grounds maintenance in-house, ensuring timely and efficient snow removal during the winter months.
