The W Condominium is a 15-unit property originally acquired as a multifamily rental. Identifying a strong value-add opportunity, Nile Equity Group worked collaboratively with the existing tenant association to complete a condominium conversion. Our exit strategy blends both rental income and condo sales, allowing for a hybrid approach that captures value through ongoing cash flow and profitable unit dispositions.
The building was acquired for $2,075,000 based on its multifamily valuation. Through our repositioning as condos, the current estimated value has increased to $5M.
