Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent by Metropolitan Capital Advisors for the sale of Herschel Manor, a multifamily property located in Dallas, TX.

Greysteel Managing Director, Boyan Radic; Senior Director, Doug Banerjee; and Investment Associates, Andrew Mueller, Ryan Hill, and Andrew Hanson; of the Company’s Dallas-Fort-Worth office, are marketing the property.

Herschel Manor, located at 4107 Herschel Avenue, was built in 1930 and totals 12 units. In 2015 and 2016, the property incurred significant capital expenditures for the upgrade of all unit interiors and exteriors including the gut renovation of all bathrooms and kitchens; installation of granite slab countertops and designer back-splashes in kitchens; stainless steel appliance packages throughout; upgraded hardware, fixtures, and ceiling fans; sanding and refinishing of original hardwood flooring; and new interior paint. Exterior renovations include paint to the entire façade, new HVAC units, and new design-forward drought resistant landscaping. Property amenities include a cookout area with a grill, covered parking, and an on-site laundry facility.

“Oak Lawn is one of the most sought-after neighborhoods in Dallas and has experienced some of the strongest rent growth nationwide over the past couple years,” said Mr. Mueller. "The current ownership did a phenomenal job renovating the property, allowing a new owner to take over a turnkey deal and benefit from Dallas’ strong rent growth with minimal future capital expenditures,” he added.

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with seven offices located in Los Angeles, CA; Washington, D.C.; Baltimore, MD; Philadelphia, PA; Dallas, TX; and Fort Worth, TX. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets. www.greysteel.com