White Plains, NY – Acquisition & Sale of Furnished Net-Leased Condos
About This Project
Ralph Trionfo: Principal
While working as the acquisition manager for a private real estate firm based in NYC, I found a package of condos that we purchased for our corporate housing program. We negotiated the acquisition of a package of 43-unit modern luxury condominiums. Simultaneously, we entered into a long-term net lease of all the condominiums to Marriott extended-stay division for long-term corporate housing use. We vacated, renovated and furnished all the units in accordance with Marriott’s standards.
Once the portfolio was stabilized we repositioned the package and effectively sold each unit at a premium to individual investors for a significant profit, all within one year.