MANHATTAN RE-LEASING PORTFOLIO
CONSISTING OF 23 BUILDINGS & 1,000+ UNITS
MNS TOTAL REVENUE INCREASE 22%
PORTFOLIO CHALLENGES
- LARGE SPREAD BETWEEN PREFERENTIAL AND LEGAL RENT
- AVERAGE OF 45+ DAYS OF VACANCY BETWEEN LEASES
- ABSORPTION EXTREMELY SLOW
- EXPENSIVE UNSUCCESSFUL ADVERTISING STRATEGY WITH LITTLE TRAFFIC TO LISTINGS
- NO COMMUNICATION BETWEEN MANAGEMENT AND THEFORMER BROKERS LEADING TO MASSCON FUSION, AND UNITS SITTING VACANT
- INCONSISTENT DESIGN AND ATTIC STOCK OVER THE ENTIRE PORTFOLIO
- UNCLEAR APT AND BUILDING UPGRADES ACROSS THE ENTIRE PORTFOLIO
- EXPENSIVE UPGRADE PLAN THAT WOULD NOT YIELD THE RETURN ON ROI
PORTFOLIO RESULTS
- INCREASED WEB TRAFFIC FROM 155 VIEWS A MONTH TO OVER 22,000 A MONTH
- INCREASED LEADS FROM 25 PER MONTH TO 700+ PER MONTH
- DECREASED COST PER LEAD FROM $370 PER LEAD TO $33 PER LEAD
- INCREASED ABSORPTION FROM 8 UNITS PER MONTH TO 30+ UNITS RENTED PER MONTH
- ORGANIZED REPORTING AND TRACKING ACROSS PORTFOLIO
- PROVIDED INTERIOR DESIGN MATRIX FOR PORTFOLIO FOR UNIT AND BUILDING UPGRADES THAT WOULD YIELD A HIGHER ROI AND BE CONSISTENT THROUGHOUT THE PORTFOLIO. DECREASED CONSTRUCTION EXPENSES BY OVER $2M OVER THE ENTIRE PORTFOLIO
