PITTSBURGH, April 22, 2013 /PRNewswire/ -- Jason Cohen Pittsburgh, one of the industry's premier real estate consultants, has announced the sale of a multi-family property to DNCG, LLC on 331 McKee Place, near the University of Pittsburgh for a whopping 350% increase from the initial purchase by Mr. Jason Cohen. According to Cohen, the chance to lead the company forward by adding such liquidity to the books was an opportunity by which he was humbled and grateful. With two of the twelve apartment units locked in a long-term lease, gross proceeds from the sale came in at an eye-popping $97,000 per marketable unit. Represented by Cynthia Kamin of CBRE, a nationally highest-rated Fortune 500 and S&P 500 company and the largest commercial real estate service firm in the world, Cohen received a number of offers for the property within 48 hours of CBRE's advertising and had the property under contract by the end of the first week. This sale not only illustrated the remaining strength of the highly sought-after Oakland real estate market, but also highlighted the community's potential to thrive with appreciation.
"There was really no secret to our success there. The University of Pittsburgh is to be commended for maintaining high demand in the area as it continues to be one of the leading universities in the nation," Cohen explains. "We just recognized that fact and, as a result, benefitted. We will continue to call Pittsburgh 'home' and plan to fully reinvest the proceeds into the local real estate market."
Also remarkable is Cohen's time developing Jason Cohen Pittsburgh: a forum for Cohen and his group to provide professional real estate investment consulting to local investors, both new and seasoned, seeking expertise on property valuations, acquisitions, due diligence, financing strategies, and closing consultation. Mr. Cohen has been providing his experience and education in his role as Chief Consultant of Jason Cohen Pittsburgh. "Serving as Chief Consultant has been an unforgettable experience. It has provided me the unique opportunity to allow others to build on what I've learned," he observes. "If I only had such a resource when I first started out."
According to the new Chief Consultant, Jason Cohen Pittsburgh is a fundamental service for those people and companies looking to buy real estate. "There are too many mistakes that can be made throughout the buying process that can doom an investor from the start. We provide a consulting service from start to finish," Cohen says. "The fact is, while buying low and selling high may seem easy enough, it takes years of experience to know what you are doing in this business. Why not get our help with that type of life changing decision?"
Jason Cohen made his first delve into the Pittsburgh Real Estate Market in December of 2003 with an initial strategy of buy, make cosmetic improvements, and hold. As the war wounds accumulated via dissatisfied tenants and code violations, he quickly realized that the path he was on was unsustainable. "Initially our focus was on just making ends meet. Like any startup, we really didn't have a choice. We didn't have the funds to be all things to all people. While mistakes were made, we were able to position ourselves well for future growth." With Mr. Cohen's recent purchase of a property on E. Carson Street and another large multi-family unit in the heart of the highly adored Southside area in Pittsburgh, his new strategy is evident: Completely turning around dilapidated or otherwise mismanaged buildings as the foremost priority. With these recent purchases, Mr. Cohen has been turning F grade properties to A+ properties. "... and we are happier for it. We are adding real value to the local neighborhoods we are investing in," says Cohen.
Cohen is excited for the chance to lead his consulting group, particularly because of the company's proven and progressing achievement record. "Be aware of those that claim confidentiality when you ask them to show you their successes," Cohen explains. "Jason Cohen Pittsburgh will not only lay out our track record for you, but we will proudly show the raw numbers of each acquisition from start to finish." Mr. Cohen has consulted with small business start-ups, university professors, single mothers, doctors, and a spread of countless other individuals. "We are excited about packaging our consultation services in a way that can benefit more and more clients with unique situations while giving them solid, time-tested advice throughout the entire buying process. A real estate investment could be one of the biggest decisions one will make in their career," Cohen concludes. "We're excited about being that extra tier of protection for our clients with such a major decision."
Acquiring his first commercial property in 2004, Jason Cohen of Jason Cohen Pittsburgh started one of the most rapidly growing small to mid-size multi-family real estate acquisition groups in the Pittsburgh market. As a consulting forum, Jason Cohen Pittsburgh works tirelessly to provide each of their clients with strategies tailored to their specific real estate goals. Jason Cohen owns several buying entities, and represents several investors who have consistently returned for further consultations. Cohen's group sets themselves apart by the custom, individualized process it takes for every client to succeed from start to finish.
SOURCE Jason Cohen Pittsburgh